To save the most money, the best way to save money on Acura MDX insurance is to compare prices once a year from different companies who provide car insurance in Plano. Price quotes can be compared by following these guidelines.
- Try to understand how companies set rates and the measures you can take to prevent rate increases. Many policy risk factors that cause rate increases like multiple speeding tickets and an unacceptable credit score can be controlled by making small lifestyle or driving habit changes. Continue reading for information to prevent high prices and earn larger discounts.
- Quote rates from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like GEICO and State Farm, while agents who are independent can provide prices from multiple insurance companies. Compare rates now
- Compare the price quotes to your existing rates and see if there is a cheaper rate in Plano. If you can save money and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Notify your agent or company of your intention to cancel your current auto insurance policy and submit payment and a signed application to the new company. Once the paperwork is finalized, put the proof of insurance certificate with the vehicle registration.
The key thing to know about shopping around is to make sure you enter similar limits and deductibles on every quote and to quote with as many companies as feasibly possible. Doing this ensures a level playing field and many rates to choose from.
Unfortunately, a large majority of drivers in Texas kept buying from the same company for four years or more, and approximately 38% of consumers have never shopped around. American insurance shoppers could pocket roughly 47% a year by just shopping around, but most tend to underestimate how much they could save if they switched to a more affordable policy.
Our goal is to tell you how insurance works and some tricks to saving. If you have coverage now, you will surely be able to reduce premiums using the concepts you’re about to learn. Smart shoppers just need to use the proper way to find the lowest price online from multiple companies.
The companies shown below have been selected to offer price quotes in Plano, TX. If multiple companies are listed, we recommend you visit as many as you can to get the most competitive price.
Analysis of coverages
The premium table displayed next showcases different insurance prices for Acura MDX models. Having insight into how insurance rates are figured can be useful when making smart choices when choosing a car insurance company.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|MDX with Tech Package 4WD||$354||$718||$430||$26||$128||$1,656||$138|
|MDX with Tech/Entertainment 4WD||$354||$718||$430||$26||$128||$1,656||$138|
|MDX Advance 4WD||$354||$718||$430||$26||$128||$1,656||$138|
|MDX Advance/Entertainment 4WD||$354||$718||$430||$26||$128||$1,656||$138|
|Get Your Own Custom Quote Go|
Premium data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Estimates do not factor in zip code location which can modify prices significantly.
The illustration below illustrates how choosing a deductible and can impact Acura MDX insurance premiums for different age categories. The premium estimates are based on a single male driver, full physical damage coverage, and no discounts are factored in.
Liability only or full coverage
The illustration below illustrates the difference between Acura MDX premium costs with full physical damage coverage and with liability coverage only. The data is based on no violations or accidents, $250 deductibles, single status, and no other discounts are factored in.
When to stop buying physical damage coverage
There is no definitive rule of when to drop comp and collision coverage, but there is a general guideline. If the yearly cost of comp and collision coverage is more than 10% of replacement cost minus your deductible, then you might consider buying liability only.
For example, let’s say your Acura MDX settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company would pay you is $4,000 after paying your policy deductible. If you are paying in excess of $400 a year for physical damage coverage, then it could be time to drop full coverage.
There are some situations where dropping full coverage is not advised. If you haven’t paid off your loan, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should keep full coverage in place.
Here’s why auto insurance is not optional
Even though Plano MDX insurance rates can get expensive, paying for auto insurance may be required for several reasons.
First, the majority of states have mandatory liability insurance requirements which means you are required to buy a specific level of liability insurance if you don’t want to risk a ticket. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you have a loan on your vehicle, more than likely the lender will require that you have full coverage to guarantee payment of the loan. If you do not keep the policy in force, the bank or lender will purchase a policy for your Acura for a lot more money and force you to reimburse them much more than you were paying before.
Third, auto insurance preserves not only your vehicle but also your financial assets. Insurance will also pay for many types of medical costs for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense if you are named as a defendant in an auto accident. If your car is damaged in a storm or accident, your auto insurance policy will cover the repair costs.
The benefits of carrying adequate insurance definitely exceed the price paid, especially if you ever need it. Despite what companies tell you, the average driver is wasting up to $750 every year so you should quote your policy with other companies every year to save money.
Informed Decisions Result in Lower Insurance Prices
The best way to find cheaper insurance is to take a look at a few of the rating criteria that aid in calculating insurance rates. When you know what positively or negatively controls the rates you pay, this empowers consumers to make smart changes that will entitle you to lower insurance prices.
The itemized list below are some of the factors that factor into your prices.
- Deter vehicle theft – Selecting a car model with anti-theft technology or alarm system can get you a discount on your insurance. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help prevent your car from being stolen.
- Small claims can cost you – Car insurance companies in Texas give the best rates to people who are claim-free. If you file a lot of claims you can expect increased rates or even have your policy non-renewed. Insurance coverage is designed for claims that you cannot pay yourself.
- Big city or small town – Living in small towns and rural areas is a positive aspect when shopping for auto insurance. Urban drivers tend to have more aggressive driving styles and more severe claims. Fewer people means a lower chance of having an accident in addition to fewer liability claims.
- Certain vocations raise premiums – Did you know your occupation can influence how much you pay for insurance? Jobs like military generals, executives, and dentists tend to have the highest rates in part from intense work requirements and lots of time spent at work. On the other hand, careers like scientists, students and the unemployed pay lower than average rates.
- No coverage gaps is important – Not having insurance is illegal and insurance companies will penalize you for letting your coverage have a gap. And not only will insurance be more expensive, being ticketed for driving with no insurance will get you fines and jail time.
Acura MDX claim data – Auto insurance companies use claims history to help calculate premium rates. Vehicles that the data determines to have a higher amount or frequency of claims will have a higher premium rate. The information below illustrates the collected loss data for Acura MDX vehicles.
For each coverage type, the loss probability for all vehicles, regardless of manufacturer or model, equals 100. Numbers that are below 100 indicate better than average losses, while percentage values above 100 indicate more frequent losses or an increased probability of a larger loss.
Acura MDX Insurance Loss Statistics Specific Acura Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Acura MDX 4dr 2WD 73 80 102 63 56 63 Acura MDX 4dr 4WD 81 85 123 65 60 59BETTERAVERAGEWORSE
Statistics from IIHS.org for 2013-2015 Model Years
Get cheaper Acura MDX insurance rates in Plano
Insurance is neither fun to buy or cheap, but there may be some discounts that could drop your premiums quite a bit. Many of these discounts will be applied automatically when you purchase, but lesser-known reductions have to be inquired about in order for you to get them.
- Military Discounts – Being deployed in the military may qualify for rate reductions.
- Early Signing – A few companies allow discounts for switching to them prior to your current MDX insurance policy expiring. It could save around 10% when you buy Plano auto insurance online.
- Onboard Data Collection – Plano drivers who agree to allow driving data submission to scrutinize driving habits by using a telematics device in their vehicle such as Progressive’s Snapshot could possibly reduce rates if they show good driving skills.
- Driver’s Education for Students – Teen drivers should successfully complete driver’s ed class if offered at their school.
- Accident Forgiveness Coverage – Not necessarily a discount, but a handful of insurance companies may permit one accident before your rates go up so long as you haven’t had any claims for a set time period.
Discounts lower rates, but some credits don’t apply to all coverage premiums. Most only apply to specific coverage prices like medical payments or collision. Even though it appears having all the discounts means you get insurance for free, companies wouldn’t make money that way.
The illustration below shows the comparison of Acura MDX insurance rates with and without discounts applied to the premium. The premiums assume a male driver, no tickets, no at-fault accidents, Texas state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, homeowner, claim-free, multi-policy, and safe-driver discounts applied.
Larger insurance companies and their possible discounts are shown below.
- State Farm has savings for student away at school, anti-theft, multiple autos, good driver, defensive driving training, safe vehicle, and accident-free.
- American Family offers discounts including good student, Steer into Savings, defensive driver, multi-vehicle, accident-free, TimeAway discount, and good driver.
- GEICO policyholders can earn discounts including multi-vehicle, driver training, anti-lock brakes, good student, federal employee, and membership and employees.
- 21st Century offers discounts for anti-lock brakes, early bird, 55 and older, homeowners, theft prevention, and student driver.
- Progressive may have discounts that include continuous coverage, online signing, multi-policy, multi-vehicle, and good student.
When getting a coverage quote, ask each company which discounts can lower your rates. All car insurance discounts might not be offered on policies in Plano. For a list of companies with the best Acura MDX insurance discounts in Texas, click this link.
Don’t assume everyone needs the same insurance coverage
When buying adequate coverage, there is no one-size-fits-all type of policy. Your financial needs are unique.
For example, these questions may help you determine whether you will benefit from professional help.
- What if I owe more than I can insure my car for?
- Does car insurance cover theft of personal property?
- When should I remove comp and collision on my Acura MDX?
- Where can I find high-risk insurance?
- Do I need replacement cost coverage on my Acura MDX?
- Is my business laptop covered if it gets stolen from my vehicle?
- Why am I required to buy high-risk coverage?
- Are there any extra discounts I can get?
If you don’t know the answers to these questions but you think they might apply to your situation, you may need to chat with a licensed agent. To find lower rates from a local agent, simply complete this short form. It is quick, free and can help protect your family.
Insurance quotes from local Plano insurance agents
Many drivers would prefer to sit down with an agent. Good agents can help you build your policy and help file insurance claims. A nice benefit of comparing insurance online is that drivers can save money and get cheap rate quotes but also keep your business local. And supporting neighborhood agents is important especially in Plano.
Once you complete this simple form, your insurance data is sent to insurance agents in Plano who want to provide quotes to get your business. You won’t even need to even leave your home because quoted prices will be sent to you. If you need to compare rates from one company in particular, you would need to find their quoting web page and fill out their quote form.
Choose an insurance agent wisely
When looking for a reliable agent, you must know there are a couple types of insurance agents that you can select. Insurance agencies are classified as either independent agents or exclusive agents. Either can provide insurance policies, but it’s important to point out why they differ since it can affect which agent you choose.
Independent Agencies or Brokers
Agents in the independent channel are not employed by any specific company and that enables them to quote your coverage with many different companies and find the cheapest insurance rates. If you are not satisfied with one company, an independent agent can move your coverage and that require little work on your part. If you need cheaper insurance rates, you need to include price quotes from independent agents for the best price selection. Most also have access to smaller mutual companies which could offer lower prices.
The following are Plano independent insurance agents that can possibly get you rate quotes.
- Alpha Omega Insurance Agency
3131 Custer Rd #275 – Plano, TX 75075 – (866) 386-0739 – View Map
- A R Schell and Son Agency
1001 E 15th St #100 – Plano, TX 75074 – (469) 609-8156 – View Map
- Texas FIrst Rate Insurance Agency
2105 W Spring Creek Pkwy #375c – Plano, TX 75023 – (972) 467-6500 – View Map
Exclusive Insurance Agencies
Agents in the exclusive channel can only place business with one company like American Family, State Farm, and Allstate. Exclusive agents cannot shop your coverage around so they have to upsell other benefits. Exclusive agencies are well schooled on what they offer and that can be a competitive advantage. Some people will only buy insurance from these agents mainly due to loyalty to the company rather than having low rates.
Shown below are exclusive insurance agents in Plano that are able to give comparison quotes.
- Louie Devega – State Farm Insurance Agent
6205 Coit Rd #300 – Plano, TX 75024 – (214) 473-9000 – View Map
- Earl Manns Jr – State Farm Insurance Agent
3020 Legacy Dr #190 – Plano, TX 75023 – (972) 208-3705 – View Map
- Allstate Insurance: Kima Adams Evans
6853 Coit Rd Ste 400 – Plano, TX 75024 – (972) 423-4009 – View Map
Deciding on an insurance agency shouldn’t rely on just a cheap quote. Any agent in Plano should have no problem answering these questions:
- Do they specialize in personal lines coverage in Plano?
- Does the company have a solid financial rating?
- Where are claims handled?
- If you are a high risk driver, do they have special markets for your coverage?
- Do they reduce claim amounts on high mileage vehicles?
- What insurance company do they write the most business with?
One last thing to lower rates
Throughout this article, we presented a lot of techniques to compare Acura MDX insurance rates in Plano. The key concept to understand is the more providers you compare, the higher your chance of finding low cost Plano auto insurance quotes. You may even be surprised to find that the most savings is with some of the lesser-known companies.
Drivers who switch companies do it for a variety of reasons including an unsatisfactory settlement offer, denial of a claim, lack of trust in their agent or not issuing a premium refund. Regardless of your reason for switching companies, choosing a new company can be pretty painless.
When searching for cheaper Plano auto insurance quotes, you should never buy lower coverage limits just to save a few bucks. In too many instances, an insured dropped full coverage and discovered at claim time that the small savings ended up costing them much more. Your aim should be to buy enough coverage at the best possible price while still protecting your assets.
More detailed auto insurance information is available at these sites:
- State Car Insurance Guides (GEICO)
- How Much is Plano Auto Insurance with Multiple Speeding Tickets? (FAQ)
- How Much are Plano Auto Insurance Quotes for Nurses? (FAQ)
- How Much is Car Insurance for a Ford Fusion in Plano? (FAQ)
- What Auto Insurance is Cheapest for 4×4 Vehicles in Plano? (FAQ)
- Who Has the Cheapest Plano Auto Insurance for a Toyota Camry? (FAQ)
- Anti-Lock Brake FAQ (iihs.org)
- Choosing a Car for Your Teen (State Farm)