One of the more important factors that help determine auto insurance rates is where you call home. More populated areas tend to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower prices.
The following table rates the highest-priced areas in Texas for drivers with good credit to buy auto insurance in. Plano shows up at #20 with a yearly cost of $1,608 for the average insurance policy, which is about $134 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | McAllen | $1,996 |
| 2 | Houston | $1,891 |
| 3 | Brownsville | $1,851 |
| 4 | Garland | $1,850 |
| 5 | Dallas | $1,837 |
| 6 | Laredo | $1,833 |
| 7 | Irving | $1,789 |
| 8 | Amarillo | $1,786 |
| 9 | Pasadena | $1,758 |
| 10 | Mesquite | $1,753 |
| 11 | Grand Prairie | $1,740 |
| 12 | San Antonio | $1,739 |
| 13 | Beaumont | $1,720 |
| 14 | Lubbock | $1,716 |
| 15 | Carrollton | $1,664 |
| 16 | Fort Worth | $1,653 |
| 17 | Arlington | $1,642 |
| 18 | Corpus Christi | $1,620 |
| 19 | Austin | $1,610 |
| 20 | Plano | $1,608 |
| 21 | Waco | $1,584 |
| 22 | El Paso | $1,584 |
| 23 | McKinney | $1,561 |
| 24 | Abilene | $1,561 |
| 25 | Killeen | $1,488 |
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Table data uses approximated as the vehicle garaging location can change coverage rates substantially.
Deciphering which companies quote the cheapest insurance rates for drivers with good credit takes more time than just getting one or two price quotes. Each auto insurer uses different criteria for determining rates, so we need to take a look at the most affordable insurance companies in Plano.
Lowest Insurance Price Quotes for High Credit
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,010 |
| 2 | USAA | $1,095 |
| 3 | Texas Farm Bureau | $1,235 |
| 4 | Germania Mutual | $1,256 |
| 5 | Esurance | $1,379 |
| 6 | California Casualty | $1,382 |
| 7 | Mercury | $1,476 |
| 8 | State Farm | $1,510 |
| 9 | Safe Auto | $1,549 |
| 10 | Nationwide | $1,585 |
| 11 | Progressive | $1,664 |
| 12 | Allstate | $1,701 |
| 13 | Amica | $1,723 |
| 14 | GEICO | $2,093 |
| 15 | Home State | $2,155 |
| 16 | MetLife | $2,161 |
| 17 | Encompass | $2,255 |
| 18 | Unitrin | $2,333 |
| 19 | 21st Century | $2,469 |
| 20 | Titan | $2,568 |
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Travelers generally has some of the cheapest car insurance rates in Plano at around $1,010 per year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also qualify as some of the cheapest Plano, TX insurance companies.
In the above example, if you are currently insured with Germania Mutual and switched to Travelers, you might realize a yearly savings of roughly $246. Customers with Esurance may save as much as $369 a year, and California Casualty policyholders might lower prices by $372 a year.
If you would like to find cheaper car insurance rates, click here to get quotes or quote rates from the companies below.
It’s important to note that these rates are averages across all types of insureds and vehicles and and are not calculated with a specific vehicle garaging location for drivers with good credit. So the company that is best for you may not even be in the top 23 companies shown above. That points out the importance of why you need to get auto insurance quotes using your own driver data and vehicle information.
Buying coverage from the right insurer can be rather challenging considering how many companies there are to choose from in Texas. The information shown below can help you analyze which providers to look at when shopping your coverage around.
The rankings below include companies that insure vehicles nationwide, so companies that focus mainly on Texas business are not factored into this list. To view rates from the insurers below and more, simply click here.
Top 10 Major Auto Insurance Providers in Plano Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- The General
- 21st Century
- Esurance
Top 10 Major Auto Insurance Providers in Plano Ranked by Claims Service
- Travelers
- Nationwide
- Allstate
- State Farm
- Liberty Mutual
- GEICO
- American Family
- Esurance
- Titan Insurance
- AAA Insurance
Types of discounts on Plano car insurance rates
Insurance companies that provide policies for drivers with good credit could also offer rate discounts that can lower rates by 30% or more if you meet specific eligibility requirements. A few popular companies and some of the premium reductions they offer are outlined below.
- State Farm may have discounts that include multiple autos, safe vehicle, multiple policy, driver’s education, and defensive driving training.
- Progressive offers discounts including continuous coverage, homeowner, multi-vehicle, online signing, multi-policy, and good student.
- Progressive includes discounts for online quote discount, homeowner, multi-vehicle, online signing, multi-policy, good student, and continuous coverage.
- MetLife offers premium reductions for accident-free, good student, good driver, multi-policy, defensive driver, claim-free
- Farm Bureau policyholders can earn discounts including multi-vehicle, renewal discount, 55 and retired, good student, multi-policy, driver training, and youthful driver.
- GEICO may offer discounts for air bags, military active duty, good student, seat belt use, federal employee, and defensive driver.
- SAFECO has discounts for anti-theft, drive less, teen safety rewards, homeowner, accident prevention training, and bundle discounts.
The illustration below compares insurance costs with and without some available policy discounts. The rates are based on a female driver, no violations or claims, Texas state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with anti-theft, vehicle safety, multiple policy, marriage, accident-free, and claim-free discounts applied. When taking advantage of discounts, the average savings per year on insurance for drivers with good credit is 28% or $425.
Impact of violations and accidents on rates
The best way to find good insurance premiums for financially responsible drivers is to be a good driver and avoid accidents and traffic violations. The chart below illustrates how speeding tickets and fender-benders can raise auto insurance costs for each different age group. The rate quotes are based on a single female driver, full coverage, $100 deductibles, and no discounts are factored in.
In the prior example, the average cost of a car insurance policy in Plano per year with no violations or accidents is $2,067. Factor in two speeding tickets and the average cost jumps to $2,783, an increase of $715 each year. Now throw in one accident along with the two speeding tickets and the 12-month cost of insurance for drivers with good credit jumps again to an average of $3,498. That’s an increase of $1,431, or $119 per month, just for being a little careless behind the wheel!
Why you should shop around
Plano, TX insurance rates are impacted by many factors which can significantly increase or decrease the policy premium. Simply having a birthday, moving across town, or getting into an accident can trigger price changes that can make some companies affordable when they were higher priced. Not only may your risk profile change, but insurance companies modify pricing as often as every quarter to ensure their profitability. Higher than normal claim frequency or severity can cause a rate increase, while lower claim levels may produce cheaper Plano car insurance rates.
For example, the graph below shows a variety of companies that have the cheapest car insurance in Plano, TX for a 30-year-old male driver with no violations or accidents, and solid credit. If we estimate rates based on his current risk factors, Travelers might offer the lowest car insurance rates in Plano at $1,070 a year. This is $834 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance round out the rest of the cheapest Plano, TX auto insurance companies.
The next chart shows rates after we give the driver in the first example a chargeable accident, bad credit, and a speeding citation. Since every insurance provider uses their own calculation to determining premium rates, comparing rates could now result in a different set of affordable companies as shown below.
State Farm now has the cheapest rate in Plano, TX with Mercury, Nationwide, USAA, and Safe Auto now rounding out the top five. This example shows why consumers need to take the time to compare lots of rates when trying to get the cheapest insurance rates for drivers with good credit. Prices are calculated by many things and can change substantially, so the best price a year ago may now not even be in the top five.