Wouldn’t life be so easy if we knew the one perfect company that has the lowest car insurance rates for teenagers? It’s just not that simple, as there are a whole bunch of unknown factors such as your financial responsibility, the number of miles you drive each year, what level of deductibles you wish to have, and the performance level of your vehicle. We will try to teach you about the different scenarios that increase car insurance cost and hopefully give you enough understanding to have a good beginning to your quest for cheaper car insurance in Plano.
The vehicle model you are seeking coverage for is probably the biggest factor that determines if you can find the lowest-priced insurance for teenagers. Vehicles with limited speed and performance, modern passenger safety features, or a positive history of liability claims will cost much less to insure than fast, unsafe models. The table below shows insurance rates for a number of the most affordable vehicles to insure in Texas.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$3,579|
|Ford Escape Limited 2WD||$3,615|
|Honda Odyssey LX||$3,976|
|Ford F-150 XL Super Cab 4WD||$4,012|
|Dodge Grand Caravan SE||$4,022|
|Ford Edge SE AWD||$4,209|
|GMC Sierra SL Extended Cab 2WD||$4,246|
|Toyota RAV4 Limited 4WD||$4,256|
|Chevrolet Equinox LS AWD||$4,246|
|Toyota Tacoma Double Cab 4WD||$4,284|
|Ford Explorer Limited AWD||$4,290|
|Chevrolet Malibu LT||$4,284|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$4,439|
|Honda Civic EX 4-Dr Sedan||$4,443|
|Hyundai Elantra Blue 4-Dr Sedan||$4,451|
|Nissan Altima 2.5 S 4-Dr Sedan||$4,479|
|Toyota Corolla XLE||$4,484|
|Chevrolet Impala LTZ||$4,479|
|Toyota Camry XLE||$4,486|
|Jeep Grand Cherokee Limited 2WD||$4,517|
|Ford Fusion Sport 4-Dr Sedan||$4,523|
|Chevrolet Silverado LTZ Crew Cab 4WD||$4,517|
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Table data represents single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate information does not factor in your specific Plano, TX location which can influence coverage rates substantially.
Based upon these rates, you can conclude that models like the Honda CR-V, Ford Escape, and Toyota Prius are likely to be the less-costly vehicles to insure for teen drivers. Rates will trend higher because of the fact that there is more risk for teenagers, but in general those particular models will probably have the least expensive rates compared to other types of vehicles.
For teen drivers, one of the more important factors that help determine auto insurance rates is the neighborhood you call home in Plano. Cities with more crime and/or more people tend to have higher auto insurance costs, whereas areas with less congestion benefit from having to pay less for coverage.
The table below sorts the most expensive areas in Texas for teenagers in which to buy car insurance. Plano ranks #21 with an annual cost of $1,576 for the average policyholder, which is about $131 each month.
|Rank||City||Average Per Year|
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Rate quotes are comparative as the vehicle garaging location can increase or decrease insurance rates considerably.
Finding out which company quotes the most affordable insurance rates for teenagers will take a tad more effort in order to find the most economical policy.
Every car insurance company uses a slightly different approach to set premium rates, so to begin we’ll rank the lowest cost insurance companies in Plano. It’s important that you understand Plano, TX insurance rates are based on many factors that will increase or decrease the price of coverage. Turning one year older, adding a teenager to your policy, or getting a few speeding tickets can trigger changes in premium that can cause some rates to be more affordable than competitors.
Cheap Insurance Rates for Teens
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,211|
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Travelers quotes some of the lowest car insurance rates in Plano at around $1,052 per year. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty also rank well as some of the more affordable Plano, TX insurance companies.
As shown in the rates above, if you currently have coverage with Germania Mutual and switched to USAA, you could earn a yearly savings of around $198. Insureds with California Casualty might save as much as $312 a year, and Esurance insureds might realize rate reductions of up to $323 a year.
To find out how your current rates compare, click here to get a free quote or visit any of the low-priced companies below.
Remember that these premiums are averaged for all types of drivers and the different vehicles they drive and and are not calculated with an exact vehicle garaging location for teenagers. So the company that can offer you the best price may not even be in the list above. That affirms the importance of why you need to compare as many prices as possible using your own driver data and vehicle information.
The chart below shows how choosing a deductible can influence annual premium costs when searching for cheap insurance for teenagers. The information is based on a married male driver, full coverage, and no discounts are factored in.
As shown above, a 30-year-old driver could lower their car insurance rates by $294 a year by increasing from a $100 deductible to a $500 deductible, or save $446 by selecting a $1,000 deductible. Youthful drivers, like the 20-year-old, could lower their rates $884 or even more by using higher deductibles when buying full coverage. If you do raise deductibles, it is a good idea to have enough funds in savings to satisfy the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Cautious drivers save money
The easiest way to score the cheapest insurance premiums in Texas for teen drivers is to drive attentively and maintain a clean driving record. The illustration below shows how speeding tickets and accident claims increase yearly insurance costs for different age groups. The information is based on a married female driver, full coverage, $250 deductibles, and no discounts are taken into consideration.
The data above shows the average cost of auto insurance in Texas per year with no accidents and a clean driving record is $1,542. Factor in two speeding tickets and the average cost jumps to $2,191, an increase of $649 each year. Next add one accident along with the two speeding tickets and the annual cost of insurance for teenagers goes up to an average of $2,838. That’s an increase of $1,296, or $108 per month, just for a couple of infractions!
Get discounts on Plano insurance
Auto insurance companies that provide coverage for teenagers may have discounts that can lower rates by 25% or more if you qualify for them. Companies and a summarized list of policyholder discounts are shown below.
- State Farm discounts include defensive driving training, multiple policy, good driver, student away at school, accident-free, and safe vehicle.
- GEICO has savings for five-year accident-free, good student, emergency military deployment, multi-vehicle, air bags, driver training, and membership and employees.
- Allstate offers discounts including defensive driver, eSmart discount, good student, senior citizen, safe driver, and early signing.
- SAFECO includes discounts for multi-car, safe driver, accident prevention training, teen safety rewards, teen safe driver, and anti-theft.
- Farm Bureau offers premium reductions for renewal discount, youthful driver, multi-policy, safe driver, and 55 and retired.
- Progressive may have discounts that include good student, multi-vehicle, online signing, continuous coverage, homeowner, and online quote discount.
- AAA policyholders can earn discounts including multi-policy, anti-theft, good student, good driver, pay-in-full, and education and occupation.
The diagram below shows the comparison of auto insurance costs with and without policy discounts. The price estimates are based on a male driver, no tickets, no at-fault accidents, Texas state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with passive restraint, paperless filing, good student, vehicle safety, anti-theft, and paid-in-full discounts applied. When drivers qualify for the discounts, the average savings per year on insurance for teenagers is 28% or $781.
The insurance agencies listed below can aid you in deciding which policy fits your needs best, since some people prefer to have some professional guidance when buying car insurance for teen drivers. It can be difficult to find the cheapest car insurance policy, and agents can give comfort knowing your policy gives you enough coverage if you have a claim. To find an auto insurance agency in your neighborhood, click the button link following the list or click here to compare price quotes.
Arthur Blake Insurance Group
542 Haggard St #502 – Plano, TX 75074 – (972) 335-4115
2817 Regal Rd # 101 – Plano, TX 75075 – (972) 596-5866
704 E 15th St #205 – Plano, TX 75074 – (972) 424-2993
A R Schell and Son Agency
1001 E 15th St #100 – Plano, TX 75074 – (469) 609-8156
William Kuo – State Farm Insurance Agent
280 Legacy Dr #250 – Plano, TX 75023 – (972) 575-9100
How to find cheaper insurance for teenagers
Here are some of the better thrifty ideas that can help Texas drivers locate low-cost car insurance.
- Safe vehicles generally have lower rates
- Do not get traffic citations
- Drop full coverage on older vehicles
- Raise physical damage deductibles
- Being accident-free can lower rates significantly
- Maintaining good credit helps earn cheaper rates
- Compare quotes from other companies often
The last tip is very significant, as we pointed out in this write-up. Prices can change in a short period of time, so drivers shouldn’t hesitate to change insurance companies if you can find a cheaper rate. Many drivers tend to have loyalty to a certain company, but we do not recommend it if your bullheadedness ends up costing you hundreds of dollars a year. Spend a few minutes and shop around and find cheaper car insurance for teenagers in Plano.