One of the more important things that are looked at to help calculate the price you pay for insurance is where your residence is. Areas with increased crime or more people tend to pay slightly more, whereas areas with less people or fewer weather incidents tend to receive cheaper rates.
The table below lists the most expensive cities in Texas to buy car insurance in. Plano shows up at #17 with a yearly cost of $1,624 for car insurance, which is approximately $135 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | McAllen | $1,936 |
| 2 | Houston | $1,853 |
| 3 | Laredo | $1,851 |
| 4 | Brownsville | $1,851 |
| 5 | Dallas | $1,837 |
| 6 | Garland | $1,832 |
| 7 | Mesquite | $1,825 |
| 8 | Grand Prairie | $1,811 |
| 9 | Amarillo | $1,786 |
| 10 | Beaumont | $1,754 |
| 11 | Pasadena | $1,740 |
| 12 | San Antonio | $1,722 |
| 13 | Irving | $1,719 |
| 14 | Arlington | $1,692 |
| 15 | Lubbock | $1,665 |
| 16 | Austin | $1,627 |
| 17 | Plano | $1,624 |
| 18 | Fort Worth | $1,621 |
| 19 | McKinney | $1,609 |
| 20 | Carrollton | $1,598 |
| 21 | Corpus Christi | $1,572 |
| 22 | El Paso | $1,568 |
| 23 | Waco | $1,522 |
| 24 | Abilene | $1,499 |
| 25 | Killeen | $1,473 |
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Premium amounts are comparative as zip code location can lower or raise rates greatly.
Now that we see where Plano ranks on price, deciphering which companies have the lowest-priced insurance rates in Plano will take more time in order to find the best price. Each auto insurance company has their own formula to set premium rates, so we need to take a look at the most budget-friendly insurance companies in Plano.
Compare Cheap Insurance Quotes in Plano
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,052 |
| 2 | USAA | $1,084 |
| 3 | Texas Farm Bureau | $1,247 |
| 4 | Germania Mutual | $1,282 |
| 5 | Esurance | $1,379 |
| 6 | California Casualty | $1,438 |
| 7 | Mercury | $1,476 |
| 8 | State Farm | $1,510 |
| 9 | Nationwide | $1,553 |
| 10 | Safe Auto | $1,597 |
| 11 | Allstate | $1,667 |
| 12 | Progressive | $1,715 |
| 13 | Amica | $1,723 |
| 14 | Home State | $2,071 |
| 15 | GEICO | $2,093 |
| 16 | MetLife | $2,227 |
| 17 | Encompass | $2,232 |
| 18 | Unitrin | $2,264 |
| 19 | 21st Century | $2,421 |
| 20 | Titan | $2,646 |
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Travelers quotes some of the lowest car insurance rates in Plano at around $1,052 each year. This is $852 less than the average policy premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the cut as some of the cheapest Plano, TX insurance companies.
As shown above, if you have coverage with Texas Farm Bureau and switched to Travelers, you might realize savings of upwards of $195. Texas drivers with Germania Mutual might save as much as $230 a year, and Esurance insureds might realize rate reductions of up to $327 a year.
These prices are averages across all drivers and vehicles in Texas and do not take into consideration a vehicle location in Plano. So the insurer that can offer the best rates for your situation may not even be in the top 23 companies in the list above. That is why you need to get rate quotes from many companies using your own driver and vehicle profiles.
The vehicle on the policy is one of the main factors when consumers are trying to find the most economical insurance in Plano. Vehicles with higher performance characteristics, a lack of modern safety features, or a high likelihood of having liability claims will cost more to insure than more economical and safe models.
The information below illustrates car insurance rates for the most economical automobiles to insure in Texas.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 4WD | $911 |
| Ford F-150 STX Super Cab 2WD | $924 |
| Toyota Prius | $932 |
| Dodge Grand Caravan CV | $942 |
| Volkswagen Jetta SE 2.5 Station Wagon | $982 |
| Chevrolet Equinox LT AWD | $994 |
| Toyota RAV4 Sport 4WD | $1,001 |
| Ford Focus SES 4-Dr Sedan | $1,026 |
| Toyota Corolla LE | $1,044 |
| Honda CR-V EX-L 2WD | $1,055 |
| Honda Odyssey LX | $1,057 |
| Jeep Grand Cherokee Limited 2WD | $1,065 |
| Nissan Rogue S 2WD | $1,071 |
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Cost estimates assume 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, multi-vehicle, multi-policy, safe-driver, and homeowner. Table data does not factor in specific Plano, TX garaging location which can influence coverage prices significantly.
By looking at the data, we can expect models like the Ford Escape, Ford F-150, and Toyota Prius are going to be a few of the more affordable vehicles to insure for drivers in Plano.
The example below highlights how deductible choice can raise or lower insurance rates when getting quotes for cheap insurance in Plano. The information is based on a single female driver, full physical damage coverage, and no discounts are factored in.
The chart above illustrates that a 50-year-old driver could pocket $302 a year by changing from a $100 deductible to a $500 deductible, or save $456 by using a $1,000 deductible. Younger drivers, like the age 20 example, could possibly save as much as $766 every year by choosing a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it is essential to have emergency funds available to pay the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Types of discounts on Plano car insurance
Insurance providers that sell policies in Plano may provide rate discounts that can reduce rates by as much as 40% or more if you meet certain criteria. Large auto insurance companies and a summarized list of policyholder discounts can be found below.
- GEICO discounts include membership and employees, anti-lock brakes, daytime running lights, seat belt use, and anti-theft.
- Auto-Owners Insurance offers discounts including air bags, multiple vehicles, paperless, student away at school, safe vehicle, and multi-policy.
- American Family policyholders can earn discounts including accident-free, early bird, air bags, good driver, mySafetyValet, and TimeAway discount.
- Esurance has discounts for claim free, DriveSense, good student, defensive driver, and multi-car.
- Progressive has savings for continuous coverage, online quote discount, good student, homeowner, online signing, and multi-policy.
- State Farm includes discounts for defensive driving training, good driver, student away at school, driver’s education, safe vehicle, good student, and accident-free.
- AAA may have discounts that include multi-policy, pay-in-full, anti-theft, AAA membership discount, good student, multi-car, and good driver.
The example below shows the difference between annual premium costs with and without discounts being applied to the rates. The data is based on a female driver, no claims or violations, Texas state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with homeowner, anti-theft, vehicle safety, marriage, claim-free, and safe-driver discounts applied. When drivers take advantage of discounts, the average savings per year on auto insurance in Plano is 28% or $771.
Liability rates compared to full coverage
Buying cheaper auto insurance is probably important to most people, and an effective way to buy cheaper insurance in Plano is to not insure for full coverage. The diagram below illustrates the comparison of insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums assume no claims or driving violations, $1,000 deductibles, single marital status, and no other discounts are factored in.
As an overall average, comp and collision coverage costs $1,598 per year more than carrying just liability coverage. That may make you wonder when is it a good idea to stop buying full coverage. There is no set rule of when to exclude physical damage coverage, but there is a general school of thought. If the annual cost of coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.
For example, let’s say your vehicle’s replacement cost is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $2,000 after paying the physical damage deductible. If it’s costing you more than $200 annually for physical damage coverage, then you might want to consider buying only liability coverage.
Last year’s bargain might be this year’s rip off
Texas auto insurance rates are impacted by many factors that may substantially change your annual premium. Simply having a birthday, buying higher coverage limits, or getting a driving violation may generate price changes that can cause some rates to be more affordable than others. Not only may your risk profile change, but insurers modify pricing without warning to adjust for heavy claims or excess profits. A period of higher than normal claims may result in rate increases, while lower claim levels can cause more affordable Plano car insurance rates.
For instance, the graph below demonstrates which company has the cheapest car insurance in Plano, TX for a 45-year-old male driver with no violations or accidents, and great credit. Based on his current risk factors, Travelers has the lowest car insurance rates in Plano at $1,051 a year. This is $853 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty round out the rest of the best Plano, TX auto insurance companies.
In the next rate comparison, we’ll give the driver in the first chart an accident surcharge, a little lower credit rating, and a speeding citation. Since each company has their own process for determining prices, analyzing rates could now result in a different list of affordable Plano car insurance companies as shown below.
Mercury now has the cheapest car insurance in Plano, TX with State Farm, USAA, Nationwide, and Safe Auto now rounding out the top five. This example demonstrates why Texas drivers need to compare many different companies to get the lowest insurance quotes in Plano.
Prices consist of many things and can change substantially, so the most affordable company three years ago may now be priced much higher than other options.
How to find more affordable auto insurance in Plano
The list below summarizes a few thrifty ideas that can help Texas drivers find cheap car insurance.
- Try to not file small claims
- Do not get tickets
- Drive attentively and avoid accidents
- Save money by insuring your home and auto with the same company
- Vehicles with good safety ratings are usually cheaper to insure
- Compare quotes from other companies often
That last piece of advice is highly important, as we emphasized in this piece. Prices charged by companies fluctuate constantly, so don’t hesitate to switch carriers if a lower-cost policy is available. Loyalty to a specific company is fine, but it’s not a great idea if that stubbornness costs you a small fortune. Now is a great time to compare rates to find cheaper car insurance in Plano in Plano.
If you have coverage questions and would like to have a professional recommendation when comparing insurance rates for drivers in Plano, the insurance agencies listed below are a good start to help you determine which auto insurance policy fits you best. To find a Plano insurance agent close to where you live, click the button at the bottom of the list or click here to compare rates now.
- Drew Baccus – State Farm Insurance Agent
7965 Custer Rd #122 – Plano, TX 75025 – (972) 517-9175 - Choice Insurance LLC
5045 Bridge Creek Dr – Plano, TX 75093 – (469) 467-6379 - Nationwide Insurance: Nicholas Arthur Purvis Agency
5600 Tennyson Pkwy #243 – Plano, TX 75024 – (972) 665-9975