Who has the Cheapest Car Insurance Quotes in Albany, NY?

Who has the Cheapest Car Insurance Quotes in Albany, NY?

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In Albany, New York, drivers can get the best rates for minimum and full coverage car insurance from State Farm, our analysis found. The company charged only $54 per month for minimum coverage and $147 for full coverage.

More than 800,000 people call the metropolitan region of Albany, New York, home. Drivers in New York's state capital pay less for coverage than the average state resident. Full coverage rates in Albany were 23% cheaper than the state average.

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We recommend comparing multiple quotes before purchasing an insurance policy. Different companies can offer different rates and discounts, and what they can offer will depend on your background and driving history.

Cheapest auto insurance in Albany: State Farm

State Farm and Progressive offer the cheapest widely available prices for minimum liability car insurance in Albany, our analysis found. Each offered rates at least $15 per month less than the city's average.

USAA had the cheapest rates overall in Albany, but the only drivers who are eligible are current military members, former military members or military families.

State Farm came in at $54 per month and $561 per year — a savings of $397 compared to the average. Progressive was second on the list at $72 per month, with Geico at $85.

This graph lists cheapest insurance rates in Albany, New York

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Minimum liability protection could leave you in an expensive spot if you're at fault in an accident. Coverage beyond the legal requirements can protect the policyholder if another driver incurs serious medical costs or if they own an expensive vehicle.

Rank
Company
Monthly rate
1State Farm$54
2Progressive$72
3Geico$85
4NYCM Insurance$98
5Travelers$119
6Allstate$135
N/AUSAA$47
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Cheapest full coverage car insurance in Albany: State Farm

State Farm offers the best full coverage car insurance quotes in Albany, narrowly beating Progressive. State Farm's average rate was $1,768, or $25 cheaper per year than Progressive's rate.

Geico was the only other company with rates lower than the average for the city, with average premiums of $1,973, or $164 per month.

Rank
Company
Annual premium
1State Farm$1,768
2Progressive$1,793
3Geico$1,973
4NYCM$2,341
5Travelers$2,955
6Allstate$3,008
N/AUSAA$1,205
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Full coverage auto insurance includes collision and comprehensive coverage, which protect a driver's own car.

  • Collision coverage: Covers damage from a collision with another vehicle or object.
  • Comprehensive coverage: Covers damage from events outside the customer's control, such as theft, natural disasters and other events, sometimes called "acts of God."

Cheap car insurance for drivers with prior incidents

If you have an accident, a DUI, a speeding ticket or another incident on your driving record, it will likely lead to insurers charging you higher rates than Albany drivers with clean records.

Cheapest car insurance in Albany after an accident: State Farm

State Farm's average rate was the lowest in Albany after an at-fault accident, with NYCM as second-cheapest and Progressive coming in at third. State Farm's annual price went up $362 to $2,131 after an accident. The cost of NYCM's coverage rose $319 to $2,660.

On average, an accident in Albany increased full coverage rates by $680 per year, which comes out to almost 32%.

Rank
Company
Annual premium
1State Farm$2,131
2NYCM$2,660
3Progressive$2,877
4Geico$2,946
5Travelers$3,798
6Allstate$4,082
N/AUSAA$1,310
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Accidents raise rates almost 31% across New York as a whole, meaning Albany is about on par with the rest of the state.

Cheapest car insurance for people with a speeding ticket: Progressive

Progressive's average rate for drivers with a speeding ticket was Albany's best by $102 per year. State Farm and Geico offered the second- and third-best rates, both within $227 of Progressive's rate.

On average, a speeding ticket raised Albany drivers' rates 11%, or a total of $230 per year.

Progressive's annual premium after a ticket averaged $1,848 for full coverage. State Farm and Geico charged $1,950 and $2,075, respectively.

Rank
Company
Annual premium
1Progressive$1,848
2State Farm$1,950
3Geico$2,075
4NYCM$2,341
5Travelers$3,395
6Allstate$3,731
N/AUSAA$1,310
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Cheapest car insurance for drivers with a DUI: Progressive

Albany drivers pay on average 44% more for full coverage after a DUI. That comes out to $953 more per year. Progressive's rate was the lowest in the city after a drunken driving conviction, at $1,879 total — only $86 more per year than the rate for a driver with a clean record.

State Farm's annual rate was $1,950, while NYCM's was considerably higher at $3,309.

Rank
Company
Annual rate
1Progressive$1,879
2State Farm$1,950
3NYCM$3,309
4Travelers$3,735
5Allstate$4,282
6Geico$4,828
N/AUSAA$1,731
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Cheapest car insurance for married drivers: Progressive

Progressive's full coverage rates in Albany were the cheapest for married drivers by a fairly significant margin. The annual rate of $1,406 was $362 less than State Farm's rate and $585 less than Geico's.

Insurers tend to see married drivers as less risky than unmarried drivers, which usually translates to lower rates. The price from Progressive in Albany was also cheaper than the New York state average for married drivers by $619.

Rank
Company
Annual rate
1Progressive$1,406
2State Farm$1,768
3Geico$1,991
4NYCM$2,363
5Travelers$2,955
6Allstate$3,166
N/AUSAA$1,078
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Cheapest car insurance for young drivers: Progressive

Younger drivers in Albany can save the most money with Progressive. The company's average rate for full coverage was $520 cheaper than that of the closest competitor, NYMC.

Young drivers paid on average $4,117 more than 30-year-old drivers, or 192% more. Progressive's average rate was $5,495, coming in ahead of the rates for NYCM and State Farm at $6,015 and $6,034, respectively.

Eighteen-year-old drivers pay notably higher premiums, as they are considered high-risk drivers by insurance companies.

Rank
Company
Annual rate
1Progressive$5,495
2NYCM$6,015
3State Farm$6,034
4Geico$6,407
5Travelers$6,657
6Allstate$8,583
N/AUSAA$4,670
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Some options for young drivers looking to lower insurance costs include:

  • Looking for discounts offered by insurers: Check with different insurers to see if you qualify for discounts for safe driving, good grades and avoiding accidents among other things.
  • Joining a parent's car insurance policy: This will raise the cost of a parent's insurance, but it will be cheaper overall than two policies.

Best auto insurance companies in Albany, New York

New York's best companies for customer satisfaction were USAA, State Farm and Allstate, according to a ValuePenguin survey. USAA policies can only be purchased by members of the military and their families.

For more information about each insurer's customer service rating, visit our New York car insurance page.

Average car insurance cost in Albany, by neighborhood

Albany is a small city of less than 22 square miles and home to fewer than 100,000 people. It has a small number of ZIP codes and neighborhoods, and there's little variation in insurance costs.

The difference between the cheapest and most expensive ZIP code for full coverage in the city is only $114. The cheapest ZIP codes include the farther-out parts of the city to the north, northwest and west. The most expensive neighborhood is right in the downtown area.

ZIP code
Annual car insurance quote
12205$2,104
12208$2,104
12211$2,104
12203$2,112
12209$2,117
12222$2,119
12223$2,168
12204$2,173
12226$2,174
12207$2,209
12202$2,209
12206$2,212
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A few factors dictate the price of car insurance in any neighborhood or ZIP code, including the rate of accident claim filings from that particular area, crime levels and other factors. One of the best ways to save money on insurance is to compare quotes from multiple insurers.

Among the five largest cities in the Albany metro area, often called the Capital District, Albany had the most expensive car insurance rate, which was $78 more than Colonie's rate. Schenectady, the third-largest city in the region, had the lowest rate at $3,333.

Rank
City
Population
Average cost (by city)
1Schenectady65,504$3,333
2Troy49,286$3,371
3Guilderland34,133$3,373
4Colonie79,509$3,383
5Albany97,221$3,461
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Auto theft statistics in Albany

Albany ranks sixth among the 10 largest cities in New York in car thefts per 100,000 residents. In Albany, there were 163.5 cars stolen per 100,000 inhabitants in 2019.

Ramapo and Amherst had the lowest rates among the state's largest cities or towns. Albany overall had 159 auto thefts.

Rank
City
Population
Car thefts
Thefts per 100,000
1Ramapo94,6332021.1
2Amherst120,8644335.6
3Clarkstown80,5993442.2
4New York8,379,0435,52265.9
5Yonkers200,07515276.0
6Greece95,7777780.4
7Albany97,221159163.5
8Buffalo255,686679265.6
9Rochester205,769651316.4
10Syracuse142,438563395.3

Motor vehicle theft data was pulled from the FBI 2019 New York crime report.

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Methodology

Data was collected from seven of the largest insurers in New York state. The sample driver was a 30-year-old man with a 2015 Honda Civic EX. Rates are for a full coverage policy unless otherwise stated. The state of New York does not allow credit ratings to be factored into insurance rates.

This analysis used insurance rate data from publicly sourced insurer filings using Quadrant Information Services. These quotes should be used for comparison purposes only, as your rates may be different.

Source:

Ben Breiner is a senior writer at ValuePenguin specializing in auto insurance. He spent ten years in newspapers and has a degree in economics and journalism from the University of Wisconsin.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.