Deciding which companies have the best insurance rates for hybrid vehicles may require more time in order to find the lowest price. Each auto insurer has a unique formula to set their prices, so we need to take a look at the overall cheapest insurance companies in Texas.
It’s a good idea to be aware that Texas insurance rates are calculated based on many things that will increase or decrease the policy price. Improving your credit score, getting married, or getting a speeding ticket can trigger rate changes that can cause some rates to be more affordable than before.
Find the Best Cheap Insurance for Hybrids
Travelers has some of the best car insurance rates in Plano at around $1,021 annually. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also are some of the most economical Plano, TX car insurance companies.
As illustrated above, if you are a policyholder with Texas Farm Bureau and switched to Travelers, you might realize a yearly savings of approximately $178. Policyholders with Germania Mutual could save as much as $223 a year, and Esurance customers might see rate reductions of $358 a year.
Understand that those policy prices are averaged for all insureds and vehicles and are not factoring in a specific vehicle garaging location for hybrid vehicles. So the company that fits your needs best may not even be in the list above. That affirms the importance of why you need to get rate quotes using your own individual information.
One of the more important factors that are looked at to determine car insurance rates is where your residence is. Areas with more people or more claims are more likely to pay higher prices, whereas areas with less crime or weather claims have the gratification of cheaper auto insurance rates.
The table below sorts the most expensive areas in Texas for hybrid vehicles to purchase auto insurance in. Plano ranks #20 costing $1,624 for the average policy, which is around $135 each month.
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Price information shown is approximated as vehicle location can increase or decrease prices significantly.
The vehicle on the policy is one of the main factors that determines the availability of cheaper car insurance for hybrid vehicles. Vehicles with lower acceleration and performance, a great safety record, or a positive history of liability claims will cost substantially less to insure than high performance models. The data below presents insurance rates for a selection of the cheapest automobiles to insure in Texas.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$841|
|Volkswagen Jetta S 2.5 Station Wagon||$912|
|Ford F-150 XL Crew Cab 2WD||$945|
|Toyota Tacoma 4WD||$953|
|Ford Fusion S 4-Dr Sedan||$997|
|Toyota RAV4 Limited 2WD||$1,004|
|Chevrolet Malibu Hybrid||$997|
|Chevrolet Silverado LS Extended Cab 4WD||$1,007|
|Honda CR-V EX 2WD||$1,032|
|Toyota Corolla XLE||$1,047|
|Honda Odyssey LX||$1,057|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$1,068|
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Table data does not factor in specific location information which can impact rates greatly.
Looking at the rates, you can conclude that cars like the Ford Escape, Volkswagen Jetta, Ford F-150, and Toyota Tacoma will be the less-costly vehicles to insure for hybrids.
Rate increases following a ticket or accident
In a perfect world, the best way to get the cheapest insurance premiums in Plano for hybrids is to drive cautiously and avoid accidents and keep your driving record clean. The diagram below illustrates how speeding tickets and at-fault collisions increase car insurance rates for each age group. The premiums assume a married male driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.
In the prior example, the average cost of car insurance in Plano per year with no accidents and a clean driving record is $1,472. Add in one speeding ticket and the average cost increases to $1,694, an increase of $221 each year. Now add two accidents along with the one speeding ticket and the 12-month cost of insurance for hybrid vehicles jumps again to an average of $3,716. That’s an increase of $2,243, or $187 per month, just for not driving responsibly!
Price comparison of only insuring for liability
Paying less for insurance is important to the majority of vehicle owners, and one great way to lower the cost of insurance for hybrid vehicles is to only buy liability coverage. The diagram below shows the difference between insurance rates with and without full coverage. The premiums assume no accidents or driving violations, $1,000 deductibles, drivers are not married, and no policy discounts are applied.
If we average the cost for all age groups, comprehensive and collision coverage on your policy costs $1,598 per year more than just insuring for liability. A very common question is if you should buy full coverage at all. There is no exact rule that works best for making the decision to drop comp and collision coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than 10% of the replacement cost minus the deductible, then it might be time to buy liability only.
Ideas for finding economical car insurance for hybrid vehicles
Below you’ll find a few thrifty solutions that can help drivers buy low-cost coverage.
- Safer vehicles cost less to insure
- Drive attentively and avoid accidents
- If your vehicles are older, consider dropping full coverage
- Higher credit scores may earn you cheaper rates
- Multi-policy discounts save money
- Shop around once a year for cheaper rates
The last suggestion is incredibly significant, as was emphasized in the prior article. Rates in Plano change frequently, so don’t be hesitant to buy a different policy if a cheaper price is available.
Having brand loyalty is commendable, but it’s not a good idea if that loyalty ends up costing a lot of money. Spend a few minutes and compare prices to find cheaper auto insurance for hybrid vehicles.
The insurance agents in Plano listed below can probably help you make a decision which car insurance company is the best fit, as some drivers have questions and prefer to get some guidance when comparing insurance rates for hybrid vehicles. It’s not always simple to do it yourself, so agents can provide you satisfaction knowing you have sufficient protection if you have a claim.
To locate an agency near you, click the button following the list.
Alpha Omega Insurance Agency
3275 Independence Pkwy – Plano, TX 75075 – (972) 519-5435
Christopher Walls – State Farm Insurance Agent
3308 Preston Rd #300 – Plano, TX 75093 – (972) 758-1111
Executive Insurance Agency
6900 Alma Dr – Plano, TX 75023 – (469) 229-9080
Bob Redding – State Farm Insurance Agent
6833 Coit Rd #100 – Plano, TX 75024 – (972) 618-4300
Allstate Insurance: Kima Adams Evans
6853 Coit Rd Ste 400 – Plano, TX 75024 – (972) 423-4009