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Cheap Auto Insurance Quotes in Binghamton, NY, for 2023
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Written by
JJ Starr
Insurance Writer
J.J. Starr is a health and finance writer with a background in banking, lending, and financial advising. She holds a Series 6, FINRA, and life insurance licensure and a master's degree from New York University. Through her writing, she strives to use her decade of experience to help consumers make sound financial choices. Connect with J.J. on LinkedIn.
Edited by
Danny Smith
Insurance Writer
Danny is an insurance writer at Insurify. Specializing in auto insurance, he works to help drivers navigate the complicated world of insurance to find the best possible policy. He received a bachelor's degree from the University of Massachusetts Amherst. You can connect with Danny on LinkedIn.
Updated August 2, 2022
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Quick Facts
The average cost of car insurance in Binghamton is $163 per month or $1,956 annually.
Car insurance in Binghamton is $186 less than the average monthly cost in New York.
The cheapest car insurance provider in Binghamton on average is Nationwide.
Car Insurance in Binghamton, NY
Binghamton drivers pay about half the average rate of New York residents when it comes to car insurance. For drivers who want to save even more, there are plenty of ways to lower auto insurance rates even more. Comparing car insurance quotes before buying is one of the best ways to get the lowest rates available.
Quotes by Top Companies
Nationwide$119
Travelers$122
Progressive$177
Bristol West$221
Liberty Mutual$225
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Cheapest Car Insurance in Binghamton, NY
What is the cheapest car insurance in Binghamton?
Nationwide is the cheapest car insurance provider on average in Binghamton, with rates starting at $119 per month. It’s still important to compare car insurance quotes since everyone’s situation is unique.
We examined real car insurance quotes from thousands of Binghamton drivers so we could understand which car insurance companies were consistently offering the lowest rates. Bear in mind that the cheapest policy may not be the best value. Many policies include valuable perks, like roadside assistance, for just a few dollars more than the bare minimum coverage.
| Insurance Company | Average Monthly Quote |
|---|---|
| Nationwide | $119 |
| Travelers | $122 |
| Progressive | $177 |
| Bristol West | $221 |
| Liberty Mutual | $225 |
| Kemper Preferred | $125 |
| Safeco | $125 |
| Plymouth Rock | $138 |
| Midvale Home & Auto | $214 |
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
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Minimum Car Insurance Requirements in New York
All motor vehicles operated or parked on New York roadways are required to be insured. Proof of insurance must be carried in your car at all times and must be available when:
Requested by law enforcement
Renewing vehicle registration
The vehicle is involved in a car accident
The minimum liability insurance requirements for private passenger vehicles in New York[1] are:
$25,000 per person for bodily injury
$50,000 per accident for bodily injury
As a major part of your liability insurance, bodily injury coverage covers medical bills for people other than the policyholder who are injured during an accident. New York is a no-fault state, meaning both parties’ insurance providers will pay for expenses, regardless of which party caused the accident.
$10,000 per accident for property damage
If it’s determined that an insured driver is at fault for an accident, this coverage pays for repairs to the property of the other involved parties. Additionally, property damage coverage can cover legal costs if the insured driver is involved in a lawsuit following the accident.
$50,000 per accident for PIP
Personal injury protection coverage, also referred to as PIP coverage, will cover the policyholder for medical payments they incur in the event of an accident. Depending on your plan, you may also receive non-medical benefits, compensating you for lost wages, household expenses, and even funeral costs.
$25,000 per person for uninsured/underinsured motorist bodily injury
$50,000 per accident for uninsured/underinsured motorist bodily injury
Uninsured and underinsured motorist coverage pays for costs caused by a driver with little or no insurance after a car accident. In New York, this coverage is for bodily injury resulting from accidents with either type of driver.
Binghamton Car Insurance Rates by Driving and Accident History
Car insurance companies use your driving record as a major indicator of your risk of making a claim[2]. The higher your risk, the higher the price of your premium. That’s why people with clean records pay less than people with tickets or car accidents in their driving history. In Binghamton, drivers with clean records save $732 a year compared to those with a speeding ticket.
| Driver History | Average Monthly Cost |
|---|---|
| Clean Record | $179 |
| Speeding Ticket | $240 |
| At-Fault Accident | $261 |
| DUI | $356 |
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
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Binghamton Car Insurance Rates by Credit Tier
Did you know that insurers can use your credit score as an indicator of your risk[3]? People with low credit scores have higher claim rates on average than those with higher credit scores, so they pay more for insurance. They also have trouble purchasing newer vehicles and getting favorable rates for car loans—one more reason to build and maintain good credit habits.
How to Get the Cheapest Car Insurance in Binghamton
The best way to ensure you’re getting the cheapest car insurance coverage is to compare car insurance rates before you buy. Using the free tools from Insurify, you can compare costs from top insurance companies without working with an insurance agent. Adjust coverage limits to get a full picture of what’s available to you so you know you’re getting the best value.
Insurify can also help you navigate the wide world of car insurance discounts. Bundling auto insurance policies with home insurance, life insurance, renters insurance, and other insurance products is a quick way to save on several insurance needs at once. Make time to compare rates near the end of each policy term, and you’ll never miss a chance to save.
Frequently Asked Questions
Cheap car insurance begins with understanding what types of insurance and how much of it you need to carry. For example, if your car is older, you may be able to drop to a liability coverage-only policy. You can also raise your deductible and get discounts to lower your monthly cost. Finally, compare rates often so you can switch when a cheaper policy is available.
Drivers in Binghamton spend about $163 per month, or $1,956 a year, on their car insurance policies. That’s about half of what the average New York state driver pays. According to thousands of quotes generated by Insurify users, Nationwide consistently offers the cheapest rates. But several insurers offer inexpensive policies, including Travelers and Progressive.
The fastest way to drive up your car insurance costs is to get a negative mark on your driving record. Traffic violations, even minor ones, result in higher rates that can last for three or more years. Claims can also raise your rates, with bigger claims often causing higher increases. Changes to your credit score and driving habits can also affect your car insurance rate.
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Data scientists at Insurify analyzed more than 40 million real-time auto insurance rates from our partner providers across the United States to compile the car insurance quotes, statistics, and data visualizations displayed on this page. The car insurance data includes coverage analysis and details on drivers' vehicles, driving records, and demographic information. Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Service's database of auto insurance rates. With these insights, Insurify is able to offer drivers insight into how companies price their car insurance premiums.
Sources
- New York Department of Motor Vehicles. "State Minimum Car Insurance Requirements." Accessed May 28, 2022
- dmv.org. "Driving Records in New York." Accessed July 29, 2022
- New York State Department of Financial Services. "Shopping for Auto Insurance." Accessed July 29, 2022
