Who Has Affordable Plano Car Insurance Quotes for a Toyota Tacoma?

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Toyota Tacoma insurance cost
Toyota Tacoma insurance cost image courtesy of QuoteInspector.com

Finding the best cheap auto insurance for a Toyota Tacoma doesn't take too much effort, but it relies on a very complex rating algorithm that uses multiple factors such as whether you are a homeower, if you have a tendency to file claims, and the level of deductible you choose. Drivers in Texas will pay around $1,110 per year to insure their Tacoma, but that price is an estimation calculated using a 40-year-old married male driver with both comprehensive and collision coverage and $250 deductibles.

The problem with using this number is the good chance you may not be 40 years old (or even male), you might be single instead of married, or maybe you just want liability only instead of full coverage. Auto insurance requires individual risk assessment, so the only real way to find cheap auto insurance rates for your Toyota is to do your own rate comparisons. Quotes only take a few minutes and you will receive prices from some of the best insurers around.

Compare Toyota Tacoma Insurance Rates

Your vehicle's trim level will influence the annual cost of coverage, so the rate you will pay to insure a Tacoma 2WD will be $68 cheaper than the cost to insure the more costly Tacoma Double Cab TRD Sport Package 4WD trim level, as shown in the chart below.

Toyota Tacoma Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tacoma 2WD $234 $456 $392 $24 $118 $1,224 $102
Tacoma 4WD $268 $376 $392 $24 $118 $1,178 $98
Tacoma Double Cab 4WD $268 $456 $392 $24 $118 $1,258 $105
Tacoma X-Runner 2WD $268 $538 $392 $24 $118 $1,340 $112
Tacoma Double Cab 4WD $302 $456 $392 $24 $118 $1,292 $108
Tacoma Double Cab TRD Off-Road Package 4WD $302 $456 $392 $24 $118 $1,292 $108
Tacoma Double Cab TRD Sport Package 4WD $302 $456 $392 $24 $118 $1,292 $108
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Cost estimates assume married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Information does not factor in the specific area where the vehicle is garaged which can affect auto insurance rates significantly.

Auto insurance company ratings

Selecting the top car insurance provider can be challenging considering how many choices there are in Plano. The company rank data in the lists below can help you pick which auto insurance companies to look at purchasing coverage from. The ratings below are for companies that insure vehicles nationwide, so companies without a large exposure are not included in this list.

Plano, TX Auto Insurance Company Rankings
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
Mercury Insurance 97 96 88 89% A+ 93.4
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
Titan Insurance 86 82 92 86% A+ 86.5
21st Century 86 82 90 84% A 86.4
Liberty Mutual 79 87 95 78% A 85.3
Farmers Insurance 77 80 80 84% A 80.3
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Data Source: Insure.com Best Car Insurance Companies

Full coverage or liability only

Reducing the cost of auto insurance is the goal of most people, and one common way to buy cheaper insurance for a Toyota Tacoma is to only pay for liability coverage. The diagram below illustrates the comparison of annual premium costs with and without full coverage. The premiums are based on no claims, a clean driving record, $250 deductibles, marital status is single, and no discounts are applied.

If we average all the age groups together, comp and collision coverage costs an extra $2,534 per year over having just liability coverage. That amount may make you wonder if buying full coverage is a good investment. There is no clear-cut rule to eliminate comp and collision coverage, but there is a general convention. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.

Why it's important to shop around

Plano, TX auto insurance rates are determined by lots of factors which can significantly increase or decrease the policy premium. Simply turning a year older, marrying your spouse, or having an accident may cause policy rate changes that can now make some companies cheaper than competitors.

In addition, insurance companies amend pricing as often as every quarter to help ensure profitability. Heavy losses can result in additional premium costs, while a profitable period may result in lower-cost Tacoma insurance rates.

To illustrate this point, the graph below shows a variety of companies that have the cheapest car insurance in Plano, TX for a 35-year-old female driver with no prior accidents, a clean driving record, and a decent credit rating. If we compare prices based on her current risk profile, Travelers may offer the lowest car insurance rates in Plano at $1,081 each year. This is $823 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are the rest of the best Plano, TX auto insurance companies.

Now let's give the driver from the first rate comparison a claim surcharge, a little lower credit rating, and a traffic citation. Since each auto insurer has a proprietary formula for setting prices, analyzing rate quotes may now show a different list of cheap Plano auto insurance companies as shown below.

Mercury now has the cheapest price in Plano with State Farm, Nationwide, Safe Auto, and USAA also having competitive pricing. This example demonstrates why drivers need to perform an extensive rate comparison when trying to get affordable auto insurance rates for a Toyota Tacoma. Rates consist of many different factors and can change without notice, so the best price two years ago may now be wasting a lot of money.