The make and model of vehicle that is being insured is one of the largest factors when comparing quotes for economical auto insurance for uninsured drivers. Vehicles with lots of horsepower, poor crash test ratings, or high incidents of liability claims will cost quite a bit more to insure than safer, lower-performance models. The data below features coverage costs for a handful of the cheapest vehicles to insure in Texas.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$1,026|
|Honda CR-V EX 4WD||$1,050|
|Volkswagen Jetta S 2.5 Station Wagon||$1,118|
|Ford Edge SE 2WD||$1,124|
|Ford Explorer Limited 2WD||$1,133|
|Dodge Grand Caravan Crew||$1,141|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$1,133|
|Honda Odyssey LX||$1,166|
|Toyota Camry SE||$1,170|
|Ford Fusion SEL 4-Dr Sedan||$1,192|
|Ford F-150 Lariat King Ranch 4WD||$1,211|
|Chevrolet Malibu LS||$1,216|
|Toyota RAV4 4WD||$1,223|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,240|
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Price estimates do not factor in specific garaging location which can alter coverage prices significantly.
Based upon these rates, you can see that cars like the Ford Escape, Toyota Prius, Honda CR-V, Volkswagen Jetta, and Ford Edge should be some of the cheapest vehicles to insure for drivers with no prior coverage.
Locating affordable car insurance is easier said than done, and deciding which companies quote the most affordable car insurance rates for uninsured drivers involves even more perseverance. Each auto insurance company uses slightly different criteria for filing rates in each state, so we’ll take a look at the car insurance companies with the overall cheapest rates in Plano, TX.
Best Insurance Companies in Texas
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,211|
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Travelers may offer some of the most affordable car insurance rates in Plano at around $1,010 a year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance would also make the list of some of the more affordable Plano, TX auto insurance companies.
As the rates illustrate above, if you are a customer of USAA and switched to Travelers, you might realize savings of in the vicinity of $118. Drivers with Texas Farm Bureau could save as much as $201 a year, and Germania Mutual customers might realize rate reductions of up to $272 a year.
These policy prices are averages across all ages of drivers and types of vehicles and do not take into consideration a specific zip code for uninsured drivers. So the car insurance company that fits your needs best may not even be in the list above. That’s why you need to compare prices as often as possible using your own personalized driver profile and vehicle information.
Does full coverage make sense?
Reducing premiums for car insurance is the goal of the majority of drivers, and a great way to buy cheaper insurance for uninsured drivers is to only buy liability insurance. The diagram below shows the difference between insurance premiums with and without physical damage coverage. The data is based on no claims or driving violations, $1,000 deductibles, single marital status, and no additional discounts are factored in.
On average, full coverage on your policy costs $1,598 per year over and above liability only. That raises the question if physical damage coverage is worth the money. There isn’t a steadfast formula to exclude full coverage, but there is a general guideline. If the yearly cost of full coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.
For example, let’s pretend your vehicle’s replacement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $2,000 after you pay the deductible. If you are paying in excess of $200 annually to have full coverage, then you may want to consider only buying liability coverage.
There are a few cases where dropping full coverage is not a good plan. If you still have a loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not drop full coverage.
The chart below shows how choosing a deductible can influence premium costs when researching cheap insurance for uninsured drivers. The premium estimates are based on a single male driver, full physical damage coverage, and no additional discounts are factored in.
A 50-year-old driver could lower their car insurance rates by $426 a year by increasing from a $100 deductible up to a $500 deductible, or save $638 by changing to a $1,000 deductible. Even younger drivers, like the Age 20 chart data, could shave up to $1,414 or even more just by choosing larger deductibles. If you do decide to increase your deductibles, it will be required to have enough savings set aside to be able to cover the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
Get discount Plano auto insurance
Insurance companies that offer cheap quotes for uninsured drivers could also offer policy discounts that can reduce rates by as much as 30% if you meet certain criteria. A few popular companies and a selection of discounts are outlined below.
- State Farm offers discounts for accident-free, Drive Safe & Save, passive restraint, Steer Clear safe driver discount, good student, and multiple policy.
- Farmers Insurance may have discounts that include early shopping, homeowner, youthful driver, teen driver, multi-car, and mature driver.
- Progressive offers discounts including good student, homeowner, continuous coverage, online signing, and multi-vehicle.
- GEICO policyholders can earn discounts including good student, daytime running lights, anti-theft, membership and employees, driver training, and five-year accident-free.
- Auto-Owners Insurance includes discounts for company car, teen driver, safe driver, air bags, and paperless.
- The Hartford has discounts for driver training, defensive driver, bundle, anti-theft, good student, air bag, and vehicle fuel type.
- Farm Bureau offers premium reductions for renewal discount, youthful driver, multi-vehicle, 55 and retired, safe driver, and good student.
- USAA may offer discounts for multi-vehicle, driver training, safe driver, multi-policy, and family discount.
The information below illustrates the difference between auto insurance rates with and without discounts applied to the policy premium. Data assumes a male driver, no violations or claims, Texas state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with safe-driver, multiple policy, marriage, defensive driving course, homeowner, and multiple vehicle discounts applied. In this example, theaverage yearly reduction on car insurance for uninsured drivers is 28% or $669.