Locating cheap car insurance is tough enough, and deciding which company quotes the cheapest insurance rates for a school permit calls for additional perseverance. Every auto insurer has a different process to determine rates, so let's take a look at the lowest cost insurance companies in Plano, TX.
It's important to know that Texas insurance rates are based on many factors that will increase or decrease the price you pay for coverage. Things like having a birthday, becoming a homeowner, or getting a few speeding tickets can trigger price changes resulting in some rates now being more affordable than competitors.
Best Car Insurance Prices for Students
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,235|
|Quote Your Rates Go|
Travelers has some of the cheapest car insurance rates in Plano at around $1,041 a year. This is $863 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance would also make the list of some of the best Plano, TX car insurance companies.
As shown in the table above, if you currently have coverage with Esurance and switched to USAA, you might achieve a yearly savings of roughly $295. Drivers with California Casualty might save as much as $340 a year, and State Farm insureds might see rate reductions of $366 a year.
To see if your current coverage is too expensive, click here to get quotes or quote rates from the companies below.
Be aware that those premiums are averaged for all types of insureds and vehicles and do not factor in an exact location for a school permit. So the auto insurance company that has the cheapest price for you may not even be in the top 23 companies in the list above. That underscores the importance of why you need to compare as many prices as possible using your own personal information and vehicle type.
The make and model of vehicle driven is one of the biggest factors when shopping for the best cheap coverage for a school permit. Vehicles with average performance, an excellent safety record, or a track record of few liability claims will cost less to insure than adrenaline junky models.
The information below estimates insurance premiums for the most affordable vehicles to buy coverage for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$3,913|
|Honda CR-V EX 2WD||$3,919|
|Ford Escape XLT 4WD||$3,951|
|Ford Explorer Eddie Bauer 2WD||$4,400|
|Ford F-150 FX2 Super Cab 2WD||$4,408|
|Ford Edge SEL AWD||$4,602|
|Chevrolet Equinox LS 2WD||$4,640|
|Toyota RAV4 Limited 4WD||$4,647|
|GMC Sierra SL Extended Cab 2WD||$4,640|
|Chevrolet Impala LT||$4,648|
|Volkswagen Jetta S 4-Dr Sedan||$4,640|
|Dodge Grand Caravan Crew||$4,678|
|Chevrolet Silverado LS Regular Cab 2WD||$4,756|
|Ford Focus SEL 4-Dr Sedan||$4,841|
|Honda Civic LX-S 4-Dr Sedan||$4,847|
|Hyundai Elantra GLS 4-Dr Sedan||$4,879|
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Prices based on single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium costs do not factor in specific zip code location which can affect premium rates noticeably.
Based upon the table data, we can tell that makes and models like the Honda Accord, Honda CR-V, Ford Escape, and Toyota Prius should be a few of the most economical vehicles to insure for a learners permit. Car insurance rates will tend to be more expensive anyway just because there is more inherent risk for a school permit, but overall those models will have the cheapest rates compared to other vehicles.
Tickets and at-fault accidents raise rates
The obvious way to maintain the best insurance premiums in Texas for a learners permit is to drive cautiously and not receive tickets or have accidents. The chart below demonstrates how speeding tickets and at-fault fender-benders can influence premium costs for different ages of insureds. The costs are based on a single male driver, full physical damage coverage, $250 deductibles, and no discounts are factored in.
In the chart above, the average cost of auto insurance per year with no violations or accidents is $2,718. Receive one speeding ticket and the average cost increases to $3,063, an increase of $344 each year. Now include one accident along with the one speeding ticket and the yearly cost of insurance for a school permit goes up to an average of $4,034. That's an increase of $1,316, or $110 per month, just for not driving safely!
The chart below highlights how deductible choice can change insurance costs when getting quotes for cheap insurance for a school permit. The information is based on a married male driver, comp and collision included, and no discounts are applied.
The chart above illustrates that a 30-year-old driver could reduce rates by $352 a year by increasing from a $100 deductible to a $500 deductible, or save $534 by switching to a $1,000 deductible. Youthful drivers, like the Age 20 chart data, could potentially save up to $1,060 each year by choosing a higher deductible. When choosing a higher deductible, it is important to have emergency funds available to enable you to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Get discounts on Plano auto insurance rates
Auto insurance companies that offer cheap quotes for a school permit may additionally offer policy discounts that may potentially lower prices by 35% or more if you meet the requirements. Companies and some of the discounts include:
- GEICO has savings for anti-theft, emergency military deployment, air bags, military active duty, multi-policy, seat belt use, and good student.
- Auto-Owners Insurance discounts include air bags, paid in full, anti-lock brakes, safe vehicle, company car, and student away at school.
- American Family may include discounts for defensive driver, accident-free, bundled insurance, air bags, and early bird.
- Esurance offers discounts including good student, online quote, defensive driver, homeowner, multi-car, online shopper, and claim free.
- Progressive offers premium reductions for multi-policy, good student, multi-vehicle, online signing, and homeowner.
- State Farm includes discounts for multiple policy, driver's education, good student, Steer Clear safe driver discount, accident-free, and passive restraint.
- AAA policyholders can earn discounts including multi-car, good driver, anti-theft, AAA membership discount, multi-policy, and pay-in-full.
The diagram below shows the comparison of premium costs with and without some available policy discounts. The prices are based on a male driver, no accidents, no driving violations, Texas state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with passive restraint, good student, paperless filing, vehicle safety, paid-in-full, and anti-theft discounts applied. When discounts are applied, theaverage yearly reduction on insurance for a school permit is 28% or $889.
The importance of comparing Plano car insurance rates
Texas insurance rates are impacted by many factors which can substantially change the price you pay for coverage. Simply getting older, marrying your spouse, or getting a ticket for running a stop sign may prompt premium changes that can cause some rates to be affordable when they were higher priced.
Additionally, auto insurance companies modify pricing as needed in order to remain profitable. A period of higher than normal claims can cause a rate increase, while a lower level of claims may result in more affordable Plano car insurance rates.
To illustrate this example, the graph below shows the company with the cheapest car insurance in Plano, TX for a 45-year-old male driver with no accidents or violations, and great credit. When quoting prices based on his current rating profile, Travelers might offer the lowest car insurance rates in Plano at $1,114 annually. This is $790 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the list of the best Plano, TX auto insurance companies.
Let's now give the driver from the first rate comparison an accident surcharge, a lower credit rating, and a stop sign violation. Since each insurance company has their own guidelines for filing rates in each state, getting updated rate quotes could now result in a new list of the cheapest Plano car insurance companies as shown below.
Mercury now has the lowest price in Plano with State Farm, Safe Auto, Nationwide, and Texas Farm Bureau now rounding out the top five. This example demonstrates why it is important to shop around when trying to find the cheapest auto insurance quotes for a school permit. Rates can be altered by many things and can increase or decrease at any time, so the cheapest option the last time you compared rates may now cost much more than other companies.