Factors Influencing the Cost of Auto Insurance in Albany, NY
The average cost of auto insurance in Albany, NY, is $1,007. It is lower than the insurance price in neighboring places such as Green Island, Voorheesville, East Greenbush, and the state of New York. Several factors can affect the cost of auto insurance in Albany. A thorough comparison of multiple auto insurance quotes will help car owners obtain an insurance quote that best suits their coverage needs. Zimlon also offers the option of keying in one’s zip code to get accurate auto insurance quotes.
Some of the factors that could increase the cost of auto insurance are as follows.
This is one of the most common factors influencing the cost of auto insurance in Albany, NY. A low deductible ($500) usually increases auto insurance value, whereas a high deductible ($1,000) lowers it. For example, the average cost of auto insurance on a deductible of $500 for a Chevrolet Malibu LS is $1,040, and it decreases to $970 when the deductible is $1,000.
The cost of auto insurance depends on the age of the driver. Auto insurance is the cheapest for drivers who are in their fifties and sixties in Albany. Teenagers are considered more risk-prone to accidents and continue to find auto insurance expensive at $2,054.
DUIs can prove to be extremely expensive for car owners in almost every city in the country. This can have a lasting impact on insurance rates as well. The cost of auto insurance post-DUI in Albany can be as high as $1,873.
Driving Violations such as driving with an expired license or speeding can also have a severe impact on auto insurance costs in Albany, NY, mainly because it increases the amount of risk being covered by insurers. Speeding or driving with an expired license can prove to be quite expensive.
A low credit score could also mean an increase in the cost of auto insurance. Moreover, auto insurance increases when the credit score is “poor” or “average.” The cost of auto insurance when the credit score is “exceptional” can be quite low.
Other factors that could make auto insurance expensive include not using anti-theft equipment. Comparing quotes is of utmost importance to reduce the cost of auto insurance in the city.