The vehicle model needing coverage is one of the primary factors that determines whether or not you find the best coverage for real estate agents. Vehicles with lots of horsepower, poor passenger safety features, or a history of substantial liability claims will cost more to insure than more modest models.
The next table outlines insurance rates for a number of the most cost-effective vehicles to buy coverage for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Chevrolet Impala LS | $978 |
| Ford Escape Limited 2WD | $984 |
| Toyota RAV4 Limited 4WD | $997 |
| Chevrolet Malibu Hybrid | $1,004 |
| Ford F-150 FX4 4WD | $1,018 |
| Toyota Corolla LE | $1,047 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,057 |
| Honda CR-V EX 4WD | $1,057 |
| Toyota Prius | $1,066 |
| Jeep Grand Cherokee Limited 4WD | $1,068 |
| GMC Sierra SL Crew Cab 2WD | $1,075 |
| Nissan Altima 3.5 SR 4-Dr Sedan | $1,068 |
| Hyundai Sonata SE 4-Dr Sedan | $1,116 |
| Ford Focus SES 2-Dr Coupe | $1,125 |
| Honda Accord EX-L 4-Dr Sedan | $1,122 |
| GMC Sierra 2500HD SLE Regular Cab 2WD | $1,136 |
| Kia Optima SX | $1,146 |
| Compare Rates Now Go | |
Prices above based on single female driver age 40, 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. Premium amounts do not factor in specific zip code location which can alter coverage prices substantially.
Based upon these rates, you can presume that makes and models like the Chevrolet Impala, Ford Escape, Toyota RAV4, Chevrolet Malibu, and Ford F-150 are likely to be a few of the most affordable vehicles to insure for realtors.
Trying to find low-cost auto insurance is not most people’s favorite thing to do, and determining which company offers the lowest-priced auto insurance rates for real estate agents will take even more work. Each company has their own process for establishing rates, so let’s rank the auto insurance companies that tend to be cheaper in Texas.
Best Auto Insurance Prices for Realtors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,010 |
| 2 | USAA | $1,095 |
| 3 | Germania Mutual | $1,244 |
| 4 | Texas Farm Bureau | $1,247 |
| 5 | Esurance | $1,379 |
| 6 | California Casualty | $1,438 |
| 7 | Mercury | $1,476 |
| 8 | State Farm | $1,495 |
| 9 | Nationwide | $1,585 |
| 10 | Safe Auto | $1,613 |
| 11 | Progressive | $1,664 |
| 12 | Allstate | $1,667 |
| 13 | Amica | $1,723 |
| 14 | GEICO | $2,072 |
| 15 | Home State | $2,092 |
| 16 | MetLife | $2,227 |
| 17 | Encompass | $2,255 |
| 18 | Unitrin | $2,264 |
| 19 | 21st Century | $2,469 |
| 20 | Titan | $2,646 |
| Find Your Rate Go | ||
Travelers generally has some of the most affordable car insurance rates in Plano at around $1,010 per year. USAA, Germania Mutual, Texas Farm Bureau, and Esurance also are some of the most economical Plano, TX insurance companies.
In this example, if you are currently insured with Germania Mutual and switched to Travelers, you may realize an annual premium reduction of around $234. Insureds with Texas Farm Bureau might save as much as $237 a year, and Esurance policyholders might reduce rates by $369 a year.
Understand that those premium estimates are averaged for all drivers and vehicles and and are not figured with a vehicle location for real estate agents. So the company that can offer the best rates for your situation may not even be in the list above. That’s why you need to get quotes using your own personal information and vehicle type.
For realtors, one of the big considerations that are used to help calculate the annual cost of car insurance is where you normally keep your vehicle. Areas with high crime rates or more dense population tend to have higher rates, whereas less populated areas have the enjoyment of a little cheaper coverage.
The following table sorts the most expensive areas in Texas for real estate agents to purchase a policy in. Plano shows up at #21 with an annual premium of $1,608 for the average policyholder, which is about $134 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | McAllen | $1,996 |
| 2 | Houston | $1,909 |
| 3 | Laredo | $1,907 |
| 4 | Brownsville | $1,870 |
| 5 | Dallas | $1,837 |
| 6 | Garland | $1,832 |
| 7 | Mesquite | $1,807 |
| 8 | Amarillo | $1,804 |
| 9 | Pasadena | $1,740 |
| 10 | Grand Prairie | $1,740 |
| 11 | Irving | $1,719 |
| 12 | Lubbock | $1,716 |
| 13 | Arlington | $1,709 |
| 14 | Beaumont | $1,702 |
| 15 | San Antonio | $1,671 |
| 16 | Carrollton | $1,664 |
| 17 | Austin | $1,659 |
| 18 | Fort Worth | $1,653 |
| 19 | McKinney | $1,625 |
| 20 | El Paso | $1,616 |
| Find the Best Rates Go | ||
Premium costs are approximated as specific Plano zip code can change insurance rates noticeably.
Rate difference between full and liability-only coverage
Reducing the cost of auto insurance is important to most vehicle owners, and one of the quickest ways to buy cheap insurance for real estate agents is to only pay for liability coverage. The chart below shows the difference between insurance costs when comparing full coverage to liability only. The rate quotes are based on no driving violations, no at-fault accidents, $500 deductibles, single marital status, and no other discounts are factored in.
If all age groups are averaged, physical damage insurance costs an extra $2,431 per year over liability only. Many of you may wonder if it’s worth it to buy full coverage. There is no set guideline to stop paying for physical damage coverage on your policy, but there is a general guideline. If the annual cost of coverage is about 10% or more of any settlement you would receive from your insurance company, then it could be time to drop full coverage.
For example, let’s pretend your vehicle’s settlement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $7,000 after paying your policy deductible. If it’s costing in excess of $700 a year for physical damage coverage, then it could be time to drop full coverage.
There are a few situations where removing full coverage is not advised. If you haven’t paid off your loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not buy liability only.
How careless driving impacts Plano auto insurance rates
One of the best ways to receive cheap auto insurance premiums in Texas for realtors is to be a good driver and avoid accidents and violations. The example below shows how speeding tickets and at-fault fender-benders drive up insurance costs for each age group. The premiums are based on a married male driver, full coverage, $500 deductibles, and no discounts are taken into consideration.
In the example above, the average cost of car insurance in Plano per year with a clean driving record and no accidents is $1,676. Get written up for two speeding tickets and the average cost hikes up to $2,313, an increase of $637 each year. Now throw in one accident along with the two speeding tickets and the 12-month cost of auto insurance for real estate agents goes up to an average of $2,951. That’s an increase of $1,275, or $106 per month, just for being a less-than-perfect driver!
The diagram below illustrates how your choice of deductibles can affect insurance rates when searching for cheap insurance for real estate agents. The data is based on a single male driver, full physical damage coverage, and no additional discounts are factored in.
A 50-year-old driver could reduce rates by $374 a year by increasing from a $100 deductible up to a $500 deductible, or save $564 by using a $1,000 deductible. Even younger insureds, like the 20-year-old, could lower their rates $1,236 or even more by using a higher deductible.
If you do decide to increase your deductibles, it is a good idea to have enough in a savings account to enable you to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.
How to find budget-friendly insurance for real estate agents
The list below shows a few money-saving solutions that can help you find cheaper car insurance.
- Maintain a safe distance and avoid accidents
- Clean up your credit
- Buy vehicles with good safety ratings
- Keep your driving record clean
- Try to remain claim-free
- Compare quotes from other companies often
The last item on the list is highly vital, as was noted in the article above. Coverage rates fluctuate constantly, so drivers shouldn’t be reluctant to change insurance companies if you find a cheaper price.
Many drivers have brand loyalty and that’s fine, but it’s not a great idea if that loyalty results in overpaying a lot of money. Now is a great time to compare rates to find cheaper auto insurance for real estate agents in Plano.