Best Auto Insurance Rates in Albany, New York

On average your neighbors pay $103 a month.

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Compare Auto Insurance in Albany

Wednesday, November 14 2018 By Shantae Young

Centrally located and home to New York's Tech Valley, Albany has much to offer both longtime residents and newcomers. This is especially true, of course, for folks who rely on technology to earn a living.

Of course, all of these tech jobs do more than attract talented men and women to Albany. They also put many cars on the city’s roads.

That means most residents are as used to dealing with traffic congestion as they are the latest and greatest gadgets and devices. It also means many of them are used to paying a lot for car insurance. However, it doesn’t have to be that way. Affordable car insurance rates are out there and we can help you find them.

Average Albany Car Insurance Rates

How much is car insurance in Albany, NY? Residents shouldn't be surprised to hear car insurance costs more in Albany than it does in many other parts of the US. The average cost of auto insurance in New York is $1,234.84 per year. The national average price is $889.01. Average insurance rates in New York are a bit higher than the national average.

Prices may vary depending on your driving record and the number of claims filed in your zip code.

New York Average Annual Car Insurance Rates
Coverage Rates
Liability $804.51
Collision $385.02
Comprehensive $171.12
Total Cost Per Year $1,234.84
Price Per Month $102.90
Source: Facts + Statistics: Auto insurance

The graph below shows the change in average New York insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, New York car insurance rates increased from $1,111 in 2011 to $1,234 in 2015, a jump of $123, or 11.12 percent.

New York average car insurance rates

QuoteWizard helps consumers compare quotes from both national insurance companies and local independent agents. Comparing quotes can help you find cheap car insurance rates near Albany, New York and save up to 40% on your premium.

Last year, 2,234 people used QuoteWizard to get an auto insurance quote comparison in Albany, NY from multiple companies to find the lowest rates.

Best Car Insurance Companies in Albany, NY

This is our list of the most common car insurance companies reported by QuoteWizard users living in Albany, New York last year. Of those 2,234 users, only 97 did not have insurance.

  1. GEICO
  2. State Farm
  3. Progressive
  4. Allstate
  5. Nationwide
  6. Liberty Mutual
  7. Farmers
  8. Esurance
  9. Travelers
  10. MetLife

Other popular Albany, NY car insurance companies: AAA, USAA, Safeco, Amica, Hartford, Mercury, Erie, and AIG.

Top 10 Vehicles

These are the most common car makes and models owned by Albany, NY drivers requesting quotes through QuoteWizard last year.

  1. Honda Accord LX/EX
  2. Honda Civic LX/EX
  3. Honda CR-V EX
  4. Nissan Altima 2.5 S
  5. Ford Fusion SE
  6. Kia Soul
  7. Hyundai Sonata GLS
  8. Dodge Caravan SE
  9. Ford F150
  10. Toyota Rav4

Minimum Car Insurance Requirements in Albany, NY

Albany, NY has a minimum coverage requirement known as the 25/50/10 rule, which means each policy must include at least the following three components:

  • Individual Bodily Injury Liability (BIL): $25,000.
    The maximum amount insurance companies will pay for an individual person injured in a car accident.
  • Total Bodily Injury Liability: $50,000.
    The total your provider will pay in total for every person injured in a car accident.
  • Property Damage Liability (PDL): $10,000.
    The most your insurer will pay for property damage caused by a car accident.

The policy must be in the name of the vehicle's registered owner and the coverage must remain in effect as long as the registration is valid even if you don't use the vehicle.

Driving Conditions

Driving conditions like weather and traffic congestion can influence your insurance rates.

Weather

Albany’s weather is great all around. Summers are warm and bright. Residents enjoy as many as 182 days with at least partial sunshine every year. They deal with some rain and snow as well, but not too much. Only about 126 days see measureable precipitation. Snow is more common than it is in some other parts of the US, as 40 inches fall in a typical winter.

Road Conditions

According to a recent study by TRIP, 51% of Albany’s roads are in poor or mediocre condition. Another 24% are in fair condition. These rough and worn streets cost drivers $480 a year in extra vehicle operating costs.

Traffic Congestion

According to the 2016 TomTom Traffic Index, Albany is ranked 55th for worst traffic in the country. An average commuter spends an additional 16 minutes per hour stuck in traffic during peak commute times, and 62 hours a year for commutes of 30 minutes.

Moving Violations

Some of the moving violations that will give you a bad driving record and make you a high-risk driver that pays higher rates:

  • Speeding tickets
  • Running red lights
  • Following other vehicles too closely
  • Drunk driving

Traffic Tickets

The Albany County Sheriff's Department made 7,000 traffic stops in 2014. These stops resulted in 3,000 tickets. This represents a 17% increase from 2013’s 6,000 traffic stops, although the number of tickets handed out remained steady.

The State of New York Unified Court System website:

  • Allows you to pay non-criminal traffic citations
  • Tells drivers how to request a hearing to contest a ticket
  • Provides helpful traffic court information

DWI Arrests

The Albany County Sheriff's Department arrested 209 drivers for suspicion of DWI in 2014. This is a 20% increase from the 174 drivers arrested for DWI in 2013.  

SR-22 DWI Insurance

A DWI conviction will require you to obtain an SR-22 form. To get the lowest rate for the most expensive type of coverage, get a quote and compare rates from top companies that specialize in Albany DWI insurance.

Car Accident Statistics

The Albany officials reported 3,074 car accidents in 2016 resulting in 1,127 injuries.

Traffic Fatalities

Albany reported seven fatal motor vehicle crashes in 2016 resulting in eight deaths. All traffic deaths are a tragic loss, and considering the estimated population of 98,111 Albany is a safe city in terms of traffic fatalities per capita.

Vehicle Theft

Albany residents reported 111 motor vehicle thefts in 2016. That’s a rate of 1.13 per 1,000 residents. The national average is 2.20 per 1,000 people.

Car Insurance Discounts

Are you looking for affordable car insurance? Discounts are a great way to lower your rates. These are some of the auto insurance discounts available to drivers in Albany, NY.

  1. Bundle your auto policy with your homeowners or renters insurance. Bundling your cars and insurance policies together can save you up to 20% off your premium
  2. Drive less. Living close to work or taking the bus once in a while could help you get the low mileage discount
  3. Get a new car with advanced safety like electronic stability control or anti-lock brakes
  4. Keep your driving record clean. Drivers without tickets and accidents can help you get the accident-free discount
  5. Maintain at least a B grade point average in school to qualify for the good student discount
  6. Enroll in a defensive driving course at an accredited driving school

Sources:

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