Who Has Cheap Car Insurance Rates for Safe Drivers in Plano?

One of the more important factors that help determine the amount you pay for auto insurance is where you live in Plano. Areas with high crime rates or more dense population are more likely to have higher rates, whereas areas that tend to be more rural benefit from lower prices.

The illustration below ranks the highest-priced areas in Texas for safe drivers to buy an auto insurance policy in. Plano ranks #22 with an annual rate of $1,560 for coverage, which is around $130 each month.

How much is auto insurance in Plano, TX?
Rank City Annual Rate
1 McAllen $1,936
2 Dallas $1,911
3 Laredo $1,907
4 Brownsville $1,870
5 Amarillo $1,858
6 Houston $1,853
7 Garland $1,832
8 Mesquite $1,825
9 Pasadena $1,812
10 Irving $1,789
11 Grand Prairie $1,740
12 Beaumont $1,720
13 Arlington $1,692
14 San Antonio $1,688
15 Lubbock $1,665
16 Corpus Christi $1,636
17 Carrollton $1,615
18 Austin $1,610
19 McKinney $1,609
20 Fort Worth $1,604
21 El Paso $1,568
22 Plano $1,560
23 Abilene $1,545
24 Waco $1,537
25 Killeen $1,518
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Annual rates are estimated as zip code location can influence premiums substantially.

Locating cost effective insurance is not the easiest thing to do, and finding out which companies offer the cheapest car insurance rates for safe drivers takes a bit more work. Each company has their own formula for determining rates in each state, so let’s take a look at the most affordable car insurance companies in Plano.

Keep in mind that Plano, TX car insurance rates are determined by lots of factors which can substantially decrease or increase the price of your policy. Events like turning one year older, getting divorced, or getting a couple of tickets can trigger changes in premium that may make certain companies higher-priced than before.

Best Insurance Companies for Safe Drivers

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Cheapest auto insurance in Texas ranked by cost per year
Rank Company Cost Per Year
1 Travelers $1,021
2 USAA $1,084
3 Texas Farm Bureau $1,199
4 Germania Mutual $1,244
5 Esurance $1,379
6 California Casualty $1,438
7 State Farm $1,450
8 Mercury $1,461
9 Nationwide $1,585
10 Safe Auto $1,597
11 Allstate $1,650
12 Progressive $1,664
13 Amica $1,705
14 Home State $2,071
15 GEICO $2,135
16 MetLife $2,161
17 Unitrin $2,241
18 Encompass $2,301
19 21st Century $2,421
20 Titan $2,672
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Travelers normally has some of the most affordable car insurance rates in Plano at around $1,021 per year. This is $883 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also some of the more affordable Plano, TX auto insurance companies.

As illustrated above, if you are a policyholder with Texas Farm Bureau and switched to Travelers, you could earn an annual premium reduction of roughly $178. Customers with Germania Mutual may save as much as $223 a year, and Esurance policyholders might reduce rates by $358 a year.

It’s important to note that these premium estimates are averaged for all types of drivers and the different vehicles they drive and do not factor in a specific vehicle garaging location for safe drivers. So the car insurance company that can offer you the best rate may not even be in the top 23 companies shown above. That affirms the importance of why you need to quote rates from many companies using your own specific driver information and vehicle.

The type of vehicle requiring coverage is one of the biggest factors that determines the availability of the most economical auto insurance for safe drivers. Vehicles with more horsepower, poor crash test ratings, or high incidents of liability claims will cost quite a bit more to insure than more economical and safe models. The information below presents car insurance premiums for a number of the most economical automobiles to insure.

Cheapest Vehicles to Insure in Plano, TX
Make and Model Estimated Cost for Full Coverage
Ford Edge SE 2WD $976
Dodge Grand Caravan CV $995
Chevrolet Equinox LS AWD $1,051
Toyota RAV4 Sport 2WD $1,058
Ford Explorer Limited 2WD $1,072
Hyundai Elantra Blue 4-Dr Sedan $1,085
Honda CR-V EX-L 2WD $1,115
Chevrolet Silverado LTZ Crew Cab 4WD $1,126
Volkswagen Jetta SEL 4-Dr Sedan $1,135
Toyota Prius $1,126
Jeep Grand Cherokee Limited 2WD $1,132
Nissan Rogue S AWD $1,128
Ford F-150 STX Regular Cab 4WD $1,143
Toyota Tacoma 2WD $1,181
Ford Escape Limited 4WD $1,183
Kia Optima SX $1,203
Hyundai Sonata Limited 4-Dr Sedan $1,211
Toyota Camry Hybrid $1,203
Chevrolet Malibu Hybrid $1,205
Nissan Altima 2.5 4-Dr Sedan $1,215
Dodge Ram Quad Cab Sport 2WD $1,222
Dodge Ram 2500 Mega Cab Laramie 4WD $1,232
GMC Sierra 2500HD SLE Extended Cab 2WD $1,258
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Prices above based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Prices do not factor in specific location information which can modify premiums substantially.

Based upon the table data, you can see that cars like the Ford Edge, Dodge Grand Caravan, Chevrolet Equinox, and Toyota RAV4 should be a few of the less-costly vehicles to insure for good drivers.

Full coverage or liability only

Buying cheaper car insurance is probably important to most vehicle owners, and one good way to lower the cost of insurance for safe drivers is to not buy full coverage. The chart below compares insurance rates with full physical damage coverage and with liability coverage only. The rate quotes are based on no violations or accidents, $250 deductibles, marital status is single, and no discounts are taken into consideration.

On average, comprehensive and collision coverage on your policy costs an additional $2,671 per year more than just buying liability only. Many drivers will wonder when is it a good idea to stop buying full coverage. There is no exact formula of when to eliminate full coverage, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is 10% or more of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

The illustration below highlights how deductible choice can change premium costs when getting quotes for cheap insurance for safe drivers. The rates are based on a married female driver, full coverage, and no discounts are applied to the premium.

The chart above illustrates that a 40-year-old driver could lower their car insurance rates by $352 a year by changing from a $100 deductible up to a $500 deductible, or save $528 by using a $1,000 deductible. Youthful drivers, like the 20-year-old, could lower their rates as much as $870 annually just by choosing larger deductibles.

If you do raise deductibles, it will be important to have additional funds squirreled away to satisfy the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.

Get discounts on Plano car insurance rates

Save on car insurance for good drivers in PlanoInsurers that offer coverage for safe drivers may have special discounts that could potentially reduce rates by 30% or more if you meet the requirements. Popular car insurance companies and their possible discounts are outlined below.

The diagram below illustrates the difference between premium costs with and without discounts applied to the policy rates. The premium estimates are based on a female driver, no accidents or driving violations, Texas state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with vehicle safety, accident-free, passive restraint, homeowner, multiple policy, and claim-free discounts applied. When these discounts are applied, theaverage amount saved on car insurance for safe drivers is 28% or $637.

You may be paying too much for car insurance

Plano, TX car insurance rates are impacted by many things that can increase the cost of a policy. Simply getting older, buying another vehicle, or getting a few speeding tickets can produce rate changes that can now make some companies cheaper than competitors. Also, auto insurance companies change their prices as often as every quarter to reflect underwriting profits or losses. Significantly higher claims may result in increased rates, while better underwriting may produce cheaper Plano car insurance rates.

To help illustrate this point, the graph below shows the companies that have the cheapest car insurance in Plano, TX for a 30-year-old male driver with no violations or accidents, and good financial standing. If we estimate rates based on his personal risk profile, Travelers has the cheapest car insurance rates in Plano at $1,125 annually. This is $779 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are the rest of the cheapest Plano, TX auto insurance companies.

Now let’s give the driver in the first chart a chargeable claim, slightly worse credit, and a couple of points charged on his driving record. Since every insurance provider uses a different method to determine rates, comparing quotes may now result in a completely different list of the cheapest companies as shown below.

State Farm now has the best price in Plano with Mercury, USAA, Nationwide, and Safe Auto also being competitive. This example demonstrates why it is critical to do a thorough rate comparison when trying to get cheap insurance quotes for safe drivers.

Car insurance prices are made up of many factors and can increase or decrease at any time, so the cheapest option a year ago may now be one of the higher cost companies.