The words “cheap” and “auto insurance” really should not be used together, specifically when comparison shopping for the best car insurance rates for single moms. To help control this cost, let’s introduce you to some of the factors that have an impact on car insurance rates, and come up with some ideas to lower the cost of the next policy you buy.
Finding reliable, low-cost auto insurance is not always easy, and figuring out which company quotes the best insurance rates for single moms requires a little more work. Every insurance provider has a proprietary formula to establish rates, so we’ll take a look at the most competitive insurance companies in Plano, TX.
It’s important that readers know that Plano insurance rates are impacted by many things that control the price you pay for coverage. Simply turning a year older, buying a different vehicle, or getting a few speeding tickets can trigger price changes that can cause some rates to be way too expensive in comparison to the competition.
Find the Cheapest Car Insurance for Single Moms
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,235|
|View More Rates Go|
Travelers generally has some of the lowest car insurance rates in Plano at around $1,041 per year. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty would also be considered some of the more affordable Plano, TX car insurance companies.
As the example above demonstrates, if you are a policyholder with Germania Mutual and switched to USAA, you might see savings of approximately $165. Customers with California Casualty could save as much as $279 a year, and Esurance policyholders might reduce prices by as much as $290 a year.
To get a quick, customized rate comparison, click here to start your free quote or visit any of the companies below.
Understand that those policy rates are averaged for all types of drivers and the different vehicles they drive and and are not figured with a specific location for single moms. So the auto insurance company that fits your needs best may not even be in the top 23 companies in the list above. That emphasizes why you need to get car insurance quotes using your own driver and vehicle profiles.
One of the many considerations that are looked at to help calculate the cost of insurance is your zip code. Areas with a lot of weather claims or more people tend to have more expensive car insurance rates, whereas areas that tend to be more rural benefit from having to pay less for coverage.
The table below lists the priciest cities in Texas for single moms to purchase auto insurance in. Plano shows up at #19 having an annual price of $1,624 for the average policyholder, which is approximately $135 per month.
|Rank||City||Premium Per Year|
|Find Cheaper Insurance Go|
Prices are estimated as specific Plano garaging address can change premiums greatly.
The make and model of vehicle needing coverage is one of the primary factors when comparison shopping for the cheapest car insurance for single moms. Vehicles with limited top-end speed, good crash test ratings, or a track record of few liability claims will cost quite a bit less to insure than adrenaline junky models.
The next list outlines insurance costs for a handful of the cheaper vehicles to insure in Texas.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 2WD||$1,025|
|Toyota Tacoma Double Cab 4WD||$1,034|
|GMC Sierra SL Extended Cab 2WD||$1,043|
|Chevrolet Equinox LS AWD||$1,034|
|Dodge Grand Caravan Hero||$1,042|
|Ford F-150 FX4 4WD||$1,053|
|Toyota Corolla XLE||$1,089|
|Hyundai Elantra GLS 4-Dr Sedan||$1,098|
|Toyota Camry SE||$1,089|
|Ford Escape XLT 4WD||$1,100|
|Jeep Grand Cherokee Limited 2WD||$1,108|
|Ford Fusion SE 4-Dr Sedan||$1,113|
|Volkswagen Jetta SE 4-Dr Sedan||$1,108|
|Jeep Wrangler Rubicon 4WD 2-Dr||$1,125|
|Start Your Quote Go|
Table data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Premium costs do not factor in vehicle location which can change coverage prices noticeably.
Looking at the rates, we can conclude that cars like the Toyota Prius, Honda CR-V, Toyota Tacoma, and GMC Sierra will definitely be the less-costly vehicles to insure for single parents.
Liability-only versus full coverage
Saving money when shopping for insurance is important to the majority of drivers, and one of the best ways to save on the cost of insurance for single moms is to only buy liability coverage. The diagram below compares yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Texas. The rates are based on no accidents, no driving violations, $500 deductibles, marital status is single, and no additional discounts are factored in.
Averaged for all age groups, comprehensive and collision coverage on your policy costs $1,793 per year more than just insuring for liability. That proposes the question if physical damage coverage is worth the money. There is no definitive guideline to exclude physical damage coverage on your policy, but there is a guideline you can use. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let’s say your vehicle’s settlement value is $12,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $11,000 after paying your policy deductible. If premium cost is more than $1,100 annually to have full coverage, then it might be time to buy liability only.
There are a few situations where dropping full coverage is not a good plan. If you still have a loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.
Best insurance in Texas
Selecting the right insurance provider is hard considering how many different companies sell coverage in Plano. The information in the next section could help you analyze which companies to look at purchasing a policy from.
These rankings include insurance companies that insure vehicles in the majority of U.S. states, so companies with more of a regional focus are not taken into consideration for these rankings. To view rates and find cheaper insurance for single moms, just click here.
Top 10 Large Car Insurance Companies in Plano Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance
Top 10 Large Car Insurance Companies in Plano Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Tips for finding the cheapest car insurance for single moms
The list below summarizes some money-saving ideas that can help Texas drivers buy cheap coverage.
- Clean up your credit
- At-fault accidents can raise rates significantly
- Raise comprehensive and collision coverage deductibles
- Avoid speeding and other traffic citations and pay less
- Bundle car and home insurance and save money
- Pay for smaller claims out-of-pocket
- Compare price quotes at least once a year
The last tip is highly critical, as was pointed out in the prior article. Coverage rates in Plano adjust often, so don’t be tentative to switch companies if you can find a cheaper rate. We understand brand loyalty, but it isn’t a good idea if it’s costing you thousands of dollars over several years. In just a few minutes you could shop around to find cheaper car insurance for single moms.