Cheapest Auto Insurance in Binghamton, New York (2024)
The cheapest liability-only insurer in Binghamton is CSAA, with rates of $109 per month.
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Written byAmy Beardsley
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3+ years writing about auto, home, and life insurance
7+ years in personal finance and technology
Amy specializes in insurance and technology writing and has a talent for transforming complex topics into easy-to-understand stories.
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Edited byCourtney Mikulski
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Courtney MikulskiSenior Editor, Auto
3+ years producing insurance and personal finance content
Main architect of the Insurify Quality Score
Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.
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Updated October 30, 2024
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Table of contents
The overall average cost of car insurance in Binghamton is $138 per month. Compared to New York state’s average of $236 per month, Binghamton drivers pay a little less for car insurance. As a smaller city in upstate New York, Binghamton’s cheap car insurance is likely due to the low population and fewer drivers on the road.[1]
Here’s how to compare rates and get cheap car insurance in Binghamton.
Quick Facts
The average cost of car insurance in Binghamton is $122 per month for liability coverage and $154 for full coverage.
Safeco, Liberty Mutual, and Midvale Home & Auto are three of the cheapest car insurance companies in Binghamton.
Car insurance companies in New York can use your credit-based insurance score when determining your premiums.[2]
3 of the cheapest car insurance companies in Binghamton
The cheapest and best car insurance company depends on your unique profile, including age, driving record, and vehicle type. But some insurers consistently offer competitive rates, making the companies below a great starting point for your search.
Binghamton drivers should consider these reputable insurance companies. Each balances great rates with quality coverage options.
Insurance Company ▲▼ | IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. ▲▼ | Full Coverage ▲▼ | Liability Only ▲▼ | Best for ▲▼ |
|---|---|---|---|---|
| Midvale Home & Auto | 8.0 | $199 | $154 | Customizable coverage |
| Safeco | 8.3 | $187 | $162 | Low rates |
| Liberty Mutual | 7.7 | $282 | $193 | Teachers |
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.
We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.
- Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
- Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
- Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
- Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
- Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.
Best insurer for customizable coverage: Midvale Home & Auto
Midvale Home & AutoCompare personalized, real-time quotes
| A.M. Best A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A |
|---|---|
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 3.2/10 |
Midvale Home & Auto is one of the cheapest and best car insurance companies in Binghamton. In Broome County, which has an average daily traffic volume of 4.9 million, Midvale’s tailored policies offer liability, full-coverage options, gap insurance, and roadside assistance. The company also has various discount options, ensuring affordable policy quotes.
Pros
Discount for new policyholders
Low rates for full coverage
Cons
Can’t get a quote online
Limited online account management options
Best insurer for low rates: Safeco
SafecoCompare personalized, real-time quotes
| User Reviews | 3.4 |
|---|---|
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 8.3/10 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $162/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $187/mo |
Safeco is a good idea if you want affordable coverage since it has the cheapest average rates for liability and full coverage in Binghamton. But you won’t sacrifice insurance options — Safeco offers accident forgiveness and new-car replacement coverage.
Pros
Cheapest average premiums in Binghamton
Local insurance agents for personalized service
Cons
Fewer discounts than competitors
Doesn’t offer rideshare insurance
Read more driver reviews of Safeco
Barbara - October 28, 2024
Verified
Insurance Keeps Going Up
Please stop raising prices.
Carlotta - October 24, 2024
Verified
Excellent
They handled everything very smoothly.
Shirley - October 22, 2024
Verified
My insurance has become so expensive that I can't afford it. I'm on Social Security. Both my car and house insurance have about doubled. I'm just trying to find something I can afford.
My insurance has become so expensive that I can't afford it. I'm on Social Security. Both my car and house insurance have about doubled. I'm just trying to find something I can afford.
…
Best insurer for teachers: Liberty Mutual
Liberty MutualCompare personalized, real-time quotes
| User Reviews | 2.8 |
|---|---|
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 7.7/10 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $193/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $282/mo |
Liberty Mutual recognizes that educators may have different auto insurance needs, so it offers excellent rates and policy perks tailored to teachers in Binghamton’s 12 school districts and three colleges.
Policies waive the deductible for vandalism on school property or during school-related events. Liberty Mutual also covers teaching materials or school-owned property stolen from vehicles.
Pros
AM Best financial strength rating of A (Excellent)
Many available discounts
Cons
Below-average J.D. Power claims satisfaction rating
Full-coverage insurance rates more expensive than some competitors
Read more driver reviews of Liberty Mutual
Frank - October 29, 2024
Verified
Been with them for 27 years, but I'm unsure
They are expensive. We are low mileage drivers with three cars, and only my wife and I are driving.
Gary - October 29, 2024
Verified
Price Gouging!
They recently increased my premium from $182 to $231 per month for no apparent reason, other than a general raise for everyone.
Donald - October 29, 2024
Verified
Don't use them, they will increase your rate within the six-month period of your term! And that's with no claims!
Don't use them, they will increase your rate within the six-month period of your term! And that's with no claims!
…
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How to get the cheapest car insurance in Binghamton
Insurance companies consider factors like your age, gender, driving habits, vehicle use, and ZIP code when calculating your car insurance quote. Although Binghamton auto insurance premiums are lower than the state average, finding ways to cut costs can make it easier on your wallet.
Here are a few options to get a more affordable price:
Shop for quotes. Take time to shop around and compare prices from at least three companies. Compare their rates, coverage options, and digital tools to find the best and cheapest auto insurance for your needs.
Increase your policy deductible. You’ll pay more money out of pocket when filing a claim, but increasing your deductible can reduce your car insurance premiums. Just make sure you can afford the deductible before increasing it.
Improve your credit. New York insurers can check your credit history when creating your quote, and having good credit scores can decrease your costs.[2]
Look for discounts. Ask questions about policy savings for bundling multiple policies, setting up automatic payments, vehicle safety features, and other car insurance discounts before you purchase coverage.
Cheapest liability-only car insurance in Binghamton: CSAA
Liability-only car insurance doesn’t cover damages to your own vehicle or any medical expenses for yourself or your passengers. Its limited auto insurance coverage includes only damages or injuries you cause to others in an at-fault car accident. It’s often the cheapest option for drivers to meet the minimum legal requirements for an auto policy.
On average, Binghamton drivers pay $122 per month for a liability-only policy. But in the table below, you’ll notice different rates depending on the insurance company you choose.
Insurance Company ▲▼ | Average Monthly Quote ▲▼ |
|---|---|
| CSAA | $109 |
| Safeco | $112 |
| Midvale Home & Auto | $154 |
| Liberty Mutual | $169 |
| Progressive | $192 |
| Erie | $258 |
| USAA | $269 |
| Bristol West | $315 |
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
Cheapest full-coverage car insurance in Binghamton: CSAA
Full-coverage car insurance includes liability, collision, and comprehensive coverage. This combination of coverages pays for damages to your car after an accident with another vehicle, object, or animal, as well as theft, vandalism, or natural disasters. Full coverage is especially beneficial if you have a new or high-value vehicle or you’ve financed or leased your car.
Binghamton drivers pay an average of $154 per month for full coverage, but the table below shows other cheap insurance companies you can consider.
Insurance Company ▲▼ | Average Monthly Quote ▲▼ |
|---|---|
| CSAA | $157 |
| Safeco | $158 |
| Midvale Home & Auto | $199 |
| Liberty Mutual | $222 |
| Progressive | $275 |
| Travelers | $282 |
| Bristol West | $362 |
| Erie | $371 |
| USAA | $386 |
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
Cheapest recent rates near Binghamton, New York
Drivers using Insurify have found quotes as cheap as $121/mo for liability only and $183/mo for full coverage in Binghamton and other New York cities.
*Quotes generated for Insurify users in and around Binghamton, New York within the last 10 days. Last updated on October 30, 2024
Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from October 30, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.
*Quotes generated for Insurify users in and around Binghamton, New York within the last 10 days. Last updated on October 30, 2024
Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from October 30, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.
Car insurance requirements in New York
New York is a no-fault car insurance state.[3] This means it’s your responsibility to have insurance that covers medical bills and other losses after an accident. It also limits your options to sue for pain and suffering.
Drivers must carry minimum liability insurance, personal injury protection (PIP), and uninsured motorist coverage to operate a vehicle on the road legally.[2]
Coverage ▲▼ | Minimum Requirements ▲▼ |
|---|---|
| Bodily injury liability | $25,000 per person / $50,000 per accident |
| Property damage liability | $10,000 per accident |
| Personal injury protection | $50,000 per accident |
| Uninsured motorist coverage | $25,000 per person and $50,000 per accident for bodily injury $10,000 per accident for property damage |
Important Information
Effective Aug. 1, 2023, New York state requires auto insurance companies to include supplemental spousal liability insurance unless the policyholder declines the coverage in writing.
Supplemental spousal liability insurance provides bodily injury liability coverage for your spouse if they’re injured or killed in an accident you cause.[4]
While insurance products that meet the minimum limits are mandatory, you may consider additional coverage for better protection. Different types of auto insurance coverage in New York include:
Collision coverage
Collision insurance pays for vehicle damages if you hit a stationary object or another car, regardless of fault.
Comprehensive coverage
Comprehensive insurance pays for damages to your car from theft, vandalism, falling objects, hitting animals, or natural disasters.
Towing and labor coverage
This pays for towing and roadside assistance services.
Gap coverage
Gap insurance covers the difference between your auto loan balance and insurance settlement in the event of a total loss.
Rental reimbursement coverage
While your car is in the shop for repairs during a covered claim, this coverage helps pay for a rental car or alternative transportation.
Cheapest car insurance for drivers with an incident
An incident on your driving record — like an at-fault accident, speeding ticket, driving under the influence (DUI) conviction, or other moving violation — will nearly always increase your car insurance rates.
Even if it was just one time, insurance companies view these incidents as indicators that you’re a high-risk driver and charge more to take on that additional risk. A clean driving record can help keep your rates low.
Here are the cheapest car insurance companies for Binghamton drivers, based on driving history.
Insurance Company ▲▼ | Clean Driving Record ▲▼ | With Speeding Ticket ▲▼ | With At-Fault Accident ▲▼ | With DUI ▲▼ |
|---|---|---|---|---|
| CSAA | $109 | $146 | $156 | $176 |
| Safeco | $112 | $150 | $160 | $180 |
| Midvale Home & Auto | $154 | $207 | $221 | $248 |
| Liberty Mutual | $169 | $226 | $242 | $272 |
| Progressive | $192 | $258 | $275 | $309 |
| Erie | $258 | $346 | $369 | $416 |
| USAA | $269 | $360 | $385 | $433 |
| Bristol West | $315 | $422 | $450 | $507 |
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
Average cost of car insurance by age
New York drivers with fewer than three years behind the wheel pay an inexperienced operator surcharge, which spikes auto insurance policy costs for teen drivers. Rates decrease by age 35 and can gradually decrease with each passing year.
But premiums start to rise around age 70, as senior drivers’ age-related health issues can affect reaction times and accident mortality rates.[2]
Here’s how much drivers in Binghamton pay for car insurance, on average, based on their age.
Age ▲▼ | Average Monthly Quote ▲▼ |
|---|---|
| Teens | $191 |
| 20s | $173 |
| 30s | $156 |
| 40s | $152 |
| 50s | $139 |
| 60s | $123 |
| 70s | $115 |
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 quotes by credit tier
New York law allows insurers to use credit-based insurance scores to calculate your car insurance quote.[2] Insurers link low credit ratings to a higher likelihood of filing claims and a higher claim cost, resulting in more expensive premiums for drivers with poor credit scores.
But if you can improve your rating and get an excellent or good credit score, you may get a lower rate sooner than you think. New York requires car insurance businesses to review credit information at least every three years.[2]
Rates by Credit Tier
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.
Binghamton car insurance FAQs
Here’s what you need to know about New York’s average car insurance rates, and below are the answers to common questions about auto coverage in Binghamton.
How much is car insurance in Binghamton?
The average cost of car insurance in Binghamton is $122 per month for liability coverage and $154 for full coverage.
Which companies have the cheapest car insurance in Binghamton?
CSAA, Midvale Home & Auto, and Safeco have the cheapest car insurance rates in the city, according to Insurify data. But you should always compare quotes from at least three car insurance companies to find the one that offers you the best rates for the coverage you need.
What are the best car insurance companies in Binghamton?
Some of the best car insurance companies Insurify identified in Binghamton include Liberty Mutual, Midvale Home & Auto, and Safeco. These companies have good coverage options, solid IQ Scores, and strong financial ratings.
Methodology
Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.
Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).
Liability-only premium averages correspond to policies with the following coverage limits:
- Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
- Property damage limits between $10,000 and $50,000
- No additional coverage
- Comprehensive coverage with a $1,000 deductible
- Collision coverage with a $1,000 deductible
Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.
Related articles
More cities in New York
Sources
- U.S. Census Bureau. "QuickFacts: Binghamton city, New York."
- New York Department of Financial Services. "Shopping for Auto Insurance."
- Nolo. "New York No-Fault Car Insurance."
- New York Department of Financial Services. "Supplemental Spousal Liability Insurance."
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Amy BeardsleyInsurance Writer
Amy is a personal finance and technology writer. With a background in the legal field and a bachelor's degree from Ferris State University, she has a talent for transforming complex topics into content that’s easy to understand. Connect with Amy on LinkedIn.
Courtney MikulskiSenior Editor, Auto
3+ years producing insurance and personal finance content
Main architect of the Insurify Quality Score
Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.
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