You have surely seen all the ads from insurers like State Farm, GEICO, and Liberty Mutual claiming dirt cheap rates, so drivers should just pick one at random, right?
Unfortunately, it's not that simple as there are a whole slew of unknown elements like the annual mileage you drive, how high your deductibles should be, if you currently have coverage, and whether you are single or married, that all help calculate your car insurance rates. This article will detail the best ways to compare rates and should give you a good start to your coverage search.
For low mileage drivers, one of the more important things that aid in calculating the amount you pay for auto insurance is where you live. Areas with increased crime or more people tend to pay more, whereas areas with less crime or weather claims profit from lower rates.
The information below sorts the highest-priced areas in Texas for infrequent drivers in which to purchase auto insurance. Plano is ranked #19 with an annual cost of $1,624 for coverage, which is about $135 each month.
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Rates are comparative as specific Plano garaging address can raise or lower auto insurance rates greatly.
The vehicle model you are buying coverage for is probably the most important factor in finding the most affordable car insurance for infrequent drivers. Vehicles with high performance engines, poor passenger safety features, or high incidents of liability claims will cost quite a bit more to insure than safer models. The list below presents coverage premiums for a selection of the cheapest vehicles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$888|
|Ford Edge Limited 2WD||$1,031|
|Jeep Wrangler Sport 4WD 2-Dr||$1,057|
|Honda Accord EX-L 4-Dr Sedan||$1,104|
|Honda Odyssey EX-L||$1,113|
|Ford Escape Limited 2WD||$1,115|
|Volkswagen Jetta SE 4-Dr Sedan||$1,126|
|Ford F-150 Lariat Crew Cab Harley 4WD||$1,145|
|Dodge Ram Crew Cab ST 2WD||$1,149|
|Ford Focus SE 2-Dr Coupe||$1,181|
|Hyundai Sonata SE 4-Dr Sedan||$1,189|
|Dodge Ram 2500 Crew Cab ST 2WD||$1,203|
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Prices based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Premium amounts do not factor in specific location which can increase or decrease price quotes considerably.
Looking at the numbers, we can presume that makes and models like the Honda CR-V, Ford Edge, Jeep Wrangler, and Honda Accord are the less-costly vehicles to insure for low mileage drivers.
Cost of full coverage in Plano
Finding the cheapest insurance is the goal of most drivers, and one of the fastest ways to find cheaper insurance for infrequent drivers is to not pay for full coverage. The chart below illustrates the comparison of premium costs with full coverage compared to only the Texas minimum liability coverage. The costs are based on no tickets, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are applied.
As an overall average, physical damage insurance costs $2,718 per year more than just buying liability only. That brings up the question if full coverage is worth the money. There is no set guideline for phasing out physical damage insurance, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than around 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.
Impact of speeding/accidents on Plano insurance rates
The easiest way to snag affordable insurance prices in Plano for low mileage drivers is to drive safe and avoid accidents and traffic violations. The illustration below demonstrates how traffic citations and fender-benders can affect insurance costs for each different age category. The costs are based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.
In the chart above, the average cost of auto insurance in Plano per year with no accidents or violations is $1,708. Add in one speeding ticket and the average cost surges to $1,961, an increase of $253 each year. Now add one accident along with the one speeding ticket and the annual cost of insurance for infrequent drivers goes up to an average of $2,667. That's an increase of $959, or $80 per month, just for a couple of infractions!
Discounts on Plano auto insurance rates
Insurers that provide policies for infrequent drivers may have rate discounts that may potentially lower prices by 30% or more if you meet eligibility requirements. Companies and a partial list of their discounts can be read below.
- State Farm has savings for passive restraint, good driver, defensive driving training, Drive Safe & Save, accident-free, multiple policy, and Steer Clear safe driver discount.
- GEICO offers discounts including multi-policy, air bags, driver training, seat belt use, military active duty, defensive driver, and anti-theft.
- Allstate may include discounts for EZ pay plan discount, teenSMART discount, early signing, anti-theft, auto/life discount, economy car, and eSmart discount.
- SAFECO has discounts for teen safety rewards, teen safe driver, safe driver, homeowner, and accident prevention training.
- Farm Bureau includes discounts for driver training, safe driver, youthful driver, multi-policy, and good student.
- Progressive offers premium reductions for online quote discount, multi-vehicle, online signing, homeowner, continuous coverage, and multi-policy.
- AAA policyholders can earn discounts including AAA membership discount, good student, multi-car, multi-policy, pay-in-full, education and occupation, and good driver.
The chart below illustrates the comparison of premium costs with and without discounts being applied to the rates. The costs are based on a female driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, comp and collision included, and $250 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with vehicle safety, anti-theft, marriage, accident-free, multiple policy, and safe-driver discounts applied. When drivers take advantage of discounts, the average savings per year on insurance for infrequent drivers is 28% or $706.
Why are you paying too much for Plano car insurance?
Texas insurance rates are impacted by many things which can substantially change the price you have to pay. Simply getting older, having a claim, or getting a ticket for careless driving may generate price changes resulting in some companies being much cheaper than others.
Not only may your situation change, but insurers change the rates they charge in Texas every year as an adjustment for underwriting gains or losses. Larger than normal claims may result in increased policy costs, while a profitable period can cause lower-priced Plano car insurance rates.
The data below analyzes the cheapest car insurance in Plano, TX for a 45-year-old male driver with a good driving record, no prior claims, and a decent credit rating. If we estimate prices based on his personal profile, Travelers may have the most affordable car insurance rates in Plano at $1,125 each year. This is $779 less than the average policy premium paid by Texas drivers of $1,904. USAA, Germania Mutual, Texas Farm Bureau, and Esurance are also on the list of the cheapest Plano, TX auto insurance companies.
The example below compares rates after we give the driver from the first rate comparison an accident surcharge, a little lower credit rating, and a stop sign violation. Because each company has their own unique process for setting prices, comparing quotes most likely will result in a completely different list of companies as shown below.
Mercury now has the best price in Plano with USAA, State Farm, Safe Auto, and Nationwide also having competitive pricing. This shows why it is so important to do a thorough rate comparison when trying to get the best car insurance rates for infrequent drivers.
Insurance prices are impacted by many things and can decrease or increase without notice, so the lowest-price company the last time you shopped around may now be an over-priced policy.
If you like to get some professional advice when shopping for the best coverage for infrequent drivers, the insurance agencies below are a good start to help you decide which auto insurance coverages would be the best in your situation. To find a Plano insurance agency using an interactive map, click the button link following the list.
- Alpha Omega Insurance Agency
3275 Independence Pkwy - Plano, TX 75075 - (972) 519-5435
- John Kraft - State Farm Insurance Agent
10185 Custer Rd #100 - Plano, TX 75025 - (972) 517-8859
- A and H Insurance
2504 K Ave #400 - Plano, TX 75074 - (972) 423-4348
- Allstate Insurance: Kima Adams Evans
6853 Coit Rd Ste 400 - Plano, TX 75024 - (972) 423-4009
- A-Z Insurance Agency
1110 E Parker Rd #106 - Plano, TX 75074 - (972) 200-5070