Cheapest Auto Insurance in Binghamton, New York (2024)

The cheapest liability-only insurer in Binghamton is CSAA, with rates of $109 per month.

Amy Beardsley
Written byAmy Beardsley
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Amy BeardsleyInsurance Writer
  • 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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Courtney Mikulski
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 May 29, 2024

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The overall average cost of car insurance in Binghamton is $138 per month. Compared to New York state’s average of $152 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 CompanyIQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
Full CoverageLiability OnlyBest for
Midvale Home & Auto3.2$${AUTO_CARRIER_MIDVALE_FULL_STATE_NY_PRICE}$${AUTO_CARRIER_MIDVALE_LIABILITY_STATE_NY_PRICE}Customizable coverage
Safeco4.2$176$151Low rates
Liberty Mutual3.9$274$189Teachers
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 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. Criteria are weighted 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 5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. We update ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: We use 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 20,000 customer reviews across 155 car insurance companies. We also considered 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 United States, 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 identified the number of states in which insurers offer coverage and company size by market share to score availability and reach.

Best insurer for customizable coverage: Midvale Home & Auto

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
3.2
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
Not rated
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

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

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.2
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
825
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.
$151/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.
$176/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 our Safeco review
Jennetta - May 19, 2024
Verified

Too High for Three Years Without a Claim and Only 5000 Miles of Local Driving

Search around, it's much too high.

Jonathan - May 19, 2024
Verified

The Moment You Have an Accident, Start Looking for a New Insurance Company

The experience was absolutely great until they decided not to renew my policy due to an accident. I felt so betrayed by a company that I had been using for over 5 years.

Samuel - May 13, 2024
Verified

Unfortunate Recent Experience with Safeco

I wouldn't recommend them. They keep increasing your premiums every year. Last time, they cited inflation as the reason, the time before that it was due to RVs, and the time before that because the Dodgers were high.

Best insurer for teachers: Liberty Mutual

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
3.9
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
819
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.
$189/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.
$274/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 our Liberty Mutual review
Christopher - May 28, 2024
Verified

InsureMafia

It's truly unfortunate that I work hard for 60 hours a week, and yet, I have to pay outrageous prices for car insurance. It seems unfair to society that we are burdened with these costs simply because driving is a necessity in today's world. Driving without insurance is not the way to go, but maintaining insurance for our three vehicles costs us $418 a month. Many people go their whole lives without making a claim, yet insurance companies show no remorse for the working class. A lot of us weren't fortunate enough to have everything handed to us. I started working when I was 12. We will never have anything left to enjoy when we retire because the cost of living is so high. I earn a good income, but $400 is a significant amount to pay every month. When you see ads promising lower rates, you think there's a chance for relief. But then you find out the rates are the same as what you're already paying. It feels like another company is taking advantage of the working man. We deserve better. I hope the right people see this and make changes. Greed is the root of all evil.

John - May 28, 2024
Verified

Understanding my individual needs was a plus

Good.

Billie - May 27, 2024
Verified

Nothing Like the Promotion

They never responded to me.

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New York rates start at $132 per month

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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 CompanyAverage 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 CompanyAverage 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.

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]

CoverageMinimum 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:

  • illustration card https://a.storyblok.com/f/162273/x/169fdfde11/liability-coverage.svg

    Collision coverage

    Collision insurance pays for vehicle damages if you hit a stationary object or another car, regardless of fault.

  • illustration card https://a.storyblok.com/f/162273/x/665da91bf7/comprehensive-coverage.svg

    Comprehensive coverage

    Comprehensive insurance pays for damages to your car from theft, vandalism, falling objects, hitting animals, or natural disasters.

  • illustration card https://a.storyblok.com/f/162273/100x100/9997698e9e/emergency-roadside-service.svg

    Towing and labor coverage

    This pays for towing and roadside assistance services.

  • illustration card https://a.storyblok.com/f/162273/x/abffe6238f/financial-protection.svg

    Gap coverage

    Gap insurance covers the difference between your auto loan balance and insurance settlement in the event of a total loss.

  • illustration card https://a.storyblok.com/f/162273/100x100/24f1697280/car-key.svg

    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 CompanyClean Driving RecordWith Speeding TicketWith At-Fault AccidentWith 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.

AgeAverage 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.

Find Car Insurance in Binghamton, NY

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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
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • 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.

Sources

  1. U.S. Census Bureau. "QuickFacts: Binghamton city, New York."
  2. New York Department of Financial Services. "Shopping for Auto Insurance."
  3. Nolo. "New York No-Fault Car Insurance."
  4. New York Department of Financial Services. "Supplemental Spousal Liability Insurance."
Amy Beardsley
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 Mikulski
Edited byCourtney MikulskiSenior Editor, Auto
Courtney Mikulski
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.

Featured in

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