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How much is car insurance in Troy?
|Area||Average Monthly Car Insurance Premium|
Based on the chart above, you can see that it's about $114 a month cheaper to insure your vehicle in Troy than it is in the rest of New York.
If you're considering relocating to Troy from out of state, you may want to budget a little extra for your insurance. Coverage in Troy is about $4 more expensive than it is for the rest of the U.S.
While these numbers represent the average monthly payments for coverage in Troy, that doesn't mean it's what you'll pay. There are a number of factors that determine how much insurance companies might charge you to insure your vehicle. The final dollar amount you'll be asked to pay each month is calculated based on things like age, gender, vehicle make and model, driving record, and in some cases, credit score.
We've broken down the average rates for Troy to help you understand what exactly you might be asked to pay. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP Code below and find out in just minutes!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
The older you are, the more experience you're likely to have on the roads, right? That experience can really work in your favor when it comes to auto insurance. As you can see, 18-24-year-olds pay two times the price that drivers 65 and older.
For every 10 years, you can expect to see a decrease in your monthly premium. Drivers in Troy may see their rates rise again once they hit retirement age.
Average Car Insurance Rates by Gender
Although women typically pay less than men do for car insurance coverage, this is not the case in Troy, where female drivers pay around $90 per month while male drivers pay about $82.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Rates can vary wildly depending on your driving record. Drivers who avoid accidents and tickets will pay lower rates than those with infractions. Drivers in Troy with a single accident on their record will usually see rates around $88 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $107.
When it comes to your monthly bill, accidents, tickets, and other driving infractions can really take a toll. So, if you want the cheapest rates, drive carefully and try to maintain a clean driving record.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$95|
|15 Years or Older||$91|
If you look at the first table above, you'll see that SUVs are usually the cheapest vehicles to insure in Troy, with drivers paying around $62 per month for insurance.
Truck and van drivers will see rates of about $142 to insure their vehicle, while car owners by and large pay around $88 per month.
Your rates can also vary depending on the age of your vehicle. Generally, newer vehicles are going to be the most expensive to insure. Once your car is a few years old however, your rates may start to dip back down a bit. In Troy, the most expensive vehicles to insure are vehicles six-to-seven years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$85|
On average, people who are married will pay slightly less for insurance coverage. This occurs because insurance companies commonly offer special discounts to policyholders with multiple vehicles that are on the same policy.
Although single drivers normally pay more for auto insurance than married couples do, the rates for both groups in Troy are about the same.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$185|
Another factor taken into consideration is your living accommodations. If you rent your home or apartment, expect to pay around $23 a month more than drivers who own property in Troy. But if you live with your parents, you can expect to pay a lot more.
That being said, many companies will offer you a discount if you bundle your homeowners or rental insurance policy with your auto insurance.
Car Insurance Companies in Troy, NY
Recent trends in car insurance for Troy drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending when selecting an auto insurance policy.
The cost of insurance in Troy declined from 2015-2018, before steadying out in 2019. Car insurance rates finished up in 2021, at $96 a month
How does Troy compare to neighboring areas?
Why are car insurance rates in Troy different from other areas?
When considering how much to charge for an insurance policy, car insurance companies will evaluate a variety of factors. While we already talked about the ones that affect your personal policy, others are based around where you park your car. These include things like:
- Road Safety (how many accidents each locality has)
- Total amount of drivers in the community
- Local crime rates
- Access to off-street parking
- Community regulations
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Each area will have different rates. Guides like these are a wonderful place to get started.
How can I find the cheapest car insurance in Troy?
While getting familiar with what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
But hold on! Compare.com does all of that work for you. Simply enter your ZIP below, answer a few questions about your driving profile, and you'll be comparing the cheapest quotes from many of the car insurance companies offering plans in Troy.
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Troy Insurance FAQs
What factors affect car insurance quotes in Troy?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your gender and age, but also factors like your vehicle's year, make and model, plus your address, credit score, marital status, and driving record.
Why is the cost of car insurance in Troy different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like parking situations, crime rates, and local laws -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Troy?
There isn't one company that can guarantee the cheapest rate to everybody, since the rates they charge for coverage are calculated based off of factors that can vary from person to person, such as vehicle make and model, driving record, and number of drivers on the policy. By using sites like Compare.com to compare multiple quotes simultaneously, you can rest assured that you're getting the best price available.
Do I need to change my insurance if I move to Troy?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to Troy or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.
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