The vehicle requiring coverage is one of the largest factors when shopping for the best insurance for electric cars. Vehicles with limited speed and performance, advanced safety features, or a track record of few liability claims will cost significantly less to insure than high performance models. The information below features car insurance costs for a number of the most cost-effective vehicles to insure in Texas.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Explorer XLT AWD | $919 |
| Ford Escape XLS 2WD | $942 |
| Honda CR-V EX-L 2WD | $962 |
| Dodge Grand Caravan Hero | $970 |
| Toyota RAV4 Limited 4WD | $977 |
| Toyota Tacoma Double Cab 4WD | $989 |
| Toyota Corolla S | $1,020 |
| Toyota Camry SE | $1,026 |
| Chevrolet Impala LTZ | $1,020 |
| Toyota Prius | $1,040 |
| Honda Accord LX-S 2-Dr Coupe | $1,092 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,112 |
| Ford F-150 XLT Regular Cab 4WD | $1,127 |
| Ford F-350 Super Cab Harley Turbo Diesel 2WD | $1,136 |
| Chevrolet Silverado 3500HD LTZ Crew Cab Diesel 2WD | $1,127 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $1,153 |
| Ford Edge Sport AWD | $1,170 |
| Honda Odyssey EX-L W/Navigation | $1,177 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,170 |
| Nissan Altima 2.5 S 4-Dr Sedan | $1,179 |
| Chevrolet Malibu Hybrid | $1,190 |
| Chevrolet Equinox LTZ AWD | $1,196 |
| Ford Fusion SE 4-Dr Sedan | $1,190 |
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Prices based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Prices do not factor in the specific area where the vehicle is garaged which can decrease or increase insurance rates considerably.
Looking at the rates, you can infer that makes and models like the Ford Explorer, Ford Escape, Honda CR-V, Dodge Grand Caravan, and Toyota RAV4 are most likely going to be the most budget-friendly vehicles to insure for eco-friendly vehicles.
For eco-friendly vehicles, one of the big considerations that determine insurance cost is where you call home in Plano. Areas with more people or more claims will most likely pay more, whereas areas that tend to be more rural can boast about having cheaper rates.
The information below lists the highest-priced areas in Texas for electric cars to buy car insurance in. Plano is ranked at #22 with an annual rate of $1,576 for the average policy, which is approximately $131 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | McAllen | $1,996 |
| 2 | Laredo | $1,907 |
| 3 | Dallas | $1,893 |
| 4 | Houston | $1,853 |
| 5 | Brownsville | $1,851 |
| 6 | Garland | $1,832 |
| 7 | Grand Prairie | $1,811 |
| 8 | Amarillo | $1,804 |
| 9 | Pasadena | $1,794 |
| 10 | Irving | $1,789 |
| 11 | Beaumont | $1,772 |
| 12 | Mesquite | $1,771 |
| 13 | Lubbock | $1,733 |
| 14 | San Antonio | $1,722 |
| 15 | Arlington | $1,692 |
| 16 | Austin | $1,659 |
| 17 | El Paso | $1,632 |
| 18 | McKinney | $1,625 |
| 19 | Fort Worth | $1,621 |
| 20 | Carrollton | $1,598 |
| 21 | Corpus Christi | $1,588 |
| 22 | Plano | $1,576 |
| 23 | Waco | $1,569 |
| 24 | Abilene | $1,515 |
| 25 | Killeen | $1,473 |
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Information shown are comparative as specific Plano garaging address can change prices greatly.
Buying coverage from the right auto insurance company can be challenging considering how many companies are available to choose from in Texas. The company ratings below could help you decide which insurers to look at comparing price quotes from. These ratings are only comprised of the largest auto insurers in America, so smaller regional companies will not be included in these 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 |
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Data Source: Insure.com Best Car Insurance Companies
Cost comparison with and without full coverage
Finding the cheapest car insurance is the goal of most vehicle owners, and one of the best ways to lower the cost of insurance for electric cars is to buy liability only. The information below visualizes the comparison of yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Texas. The information is based on a clean driving record, no claims, $1,000 deductibles, drivers are not married, and no other discounts are factored in.
On average, full coverage on your policy costs an extra $1,598 per year more than just buying liability only. Lot’s of drivers question if it’s worth it to buy full coverage. There is no exact formula to stop paying for comp and collision coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than around 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
For example, let’s say your vehicle’s replacement value is $12,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $11,000 after paying your policy deductible. If you are currently paying more than $1,100 annually for comprehensive and collision coverage, then it might be time to buy liability only.
There are some cases where dropping full coverage is not recommended. If you still owe money on your vehicle, you have to keep full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not opt for liability only.
Tips for finding economical car insurance for electric cars
The list below shows some money-saving suggestions that can help drivers find lower-cost coverage.
- Maintain a safe distance and avoid accidents
- Increase your credit rating
- Keep your driving record clean
- Do not waste money insuring older vehicles for full coverage
- Higher physical damage deductibles lower rates
- Choose a safer vehicle and pay lower rates
- Compare rates often to find the best deal
The last suggestion is incredibly important, as we pointed out in the prior information. Car insurance rates change constantly, so don’t be unwilling to buy a policy from a new company if a more affordable rate is found. Having a favorite company is great, but we do not recommend it if that loyalty ends up costing money that could be used for better things. Take a couple minutes and shop around and find cheaper auto insurance for electric cars in Plano.
If you aren’t clear which coverage you need and would like to get some professional advice when trying to find lower insurance rates for eco-friendly vehicles, the insurance agencies listed below are willing to help you determine which coverages you need.
To find a Plano insurance agent close to where you live, click the link at the bottom or click here to get price quotes now.
- Buckley Insurance Agency
3100 Independence Pkwy #216 – Plano, TX 75075 – (972) 665-0620 - A and H Insurance
2504 K Ave #400 – Plano, TX 75074 – (972) 423-4348 - Roger Welch Agency, LLC
2770 Main St #104 – Frisco, TX 75033 – (972) 380-6677 - Tamara Murphy – State Farm Insurance Agent
4504 Legacy Dr #200 – Plano, TX 75024 – (972) 943-9555