You have probably seen the captivating ads from auto insurance companies like Farmers, Allstate, and State Farm guaranteeing big savings. So you just need to pick the one with the best commercial, right?
It’s not that easy, however, as there are a whole slew of unknown aspects like if you have ever had a gap in coverage, the deductible level you need, if you are married or single, and your credit score. We know insurance is not everyone’s favorite topic, but in this article we will cover some of these things and should give you a good beginning to your quest for cheaper car insurance in Plano.
The car, truck, or SUV you are insuring is a large factor in finding the best auto insurance for state employees. Vehicles with economical engines, excellent safety ratings, or a positive history of liability claims will cost much less to insure than higher performance models.
The next table showcases coverage premiums for some of the more affordable automobiles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$872|
|Ford Escape XLT 4WD||$882|
|Honda Accord EX-L 4-Dr Sedan||$925|
|Dodge Grand Caravan SE||$958|
|Volkswagen Jetta SE 2.5 Station Wagon||$996|
|Honda Civic VP 4-Dr Sedan||$1,044|
|Toyota Corolla XRS||$1,089|
|Ford Fusion SE 4-Dr Sedan||$1,082|
|Chevrolet Equinox LTZ AWD||$1,091|
|Ford F-150 FX2 Super Cab 2WD||$1,095|
|Chevrolet Impala LT||$1,155|
|GMC Sierra 3500HD SLT Crew Cab 2WD||$1,174|
|Jeep Wrangler Sahara 4WD 2-Dr||$1,180|
|Ford Explorer XLT 4WD||$1,174|
|Dodge Ram Crew Cab SLT 4WD||$1,181|
|Ford Focus SES 4-Dr Sedan||$1,195|
|Hyundai Elantra SE 4-Dr Sedan||$1,216|
|Toyota Camry SE||$1,222|
|Ford Edge SE AWD||$1,216|
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Data 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-vehicle, and multi-policy. Price information does not factor in garaging location in Plano, TX which can revise coverage prices substantially.
Based on these rates, you can infer that makes and models like the Honda CR-V, Ford Escape, and Honda Accord are the cheaper vehicles to insure for state workers.
One of the more important factors that are looked at to help calculate insurance cost is your address. Regions with larger populations or more claims tend to pay slightly more, whereas more rural areas receive better rates.
The information below ranks the most expensive areas in Texas for state employees to buy auto insurance in. Plano is ranked #20 with an annual cost of $1,608 for the average policy, which is around $134 per month.
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Table data uses estimated as specific location information can affect prices noticeably.
Safe drivers pay cheaper rates
The easiest method to maintain low car insurance prices in Plano for state workers is to drive attentively and not receive tickets or have accidents. The example below shows how traffic citations and fender-benders increase auto insurance rates for different age categories. The information is based on a married male driver, comp and collision included, $250 deductibles, and no policy discounts are applied.
In the prior example, the average cost of a car insurance policy per year with no accidents and a clean driving record is $1,708. Add in two speeding tickets and the average cost jumps to $2,357, an increase of $649 each year. Now add one accident along with the two speeding tickets and the yearly cost of car insurance for state employees goes up to an average of $3,004. That’s an increase of $1,296, or $108 per month, just for not keeping your driving record clean!
Discounts on Plano auto insurance rates
Car insurance companies that provide policies for state employees may additionally offer policy discounts that could reduce prices by 40% or more if you qualify for them. The best car insurance companies and their offered discounts are outlined below.
- Farm Bureau discounts include multi-vehicle, multi-policy, renewal discount, safe driver, youthful driver, 55 and retired, and good student.
- Liberty Mutual includes discounts for preferred payment discount, hybrid vehicle, safety features, exclusive group savings, teen driver discount, newly retired, and new graduate.
- State Farm may include discounts for Drive Safe & Save, passive restraint, accident-free, safe vehicle, and multiple autos.
- Auto-Owners Insurance may have discounts that include good student, safe driver, paperless, safe vehicle, paid in full, and multiple vehicles.
- GEICO policyholders can earn discounts including multi-policy, seat belt use, five-year accident-free, anti-lock brakes, air bags, anti-theft, and membership and employees.
- SAFECO offers premium reductions for bundle discounts, teen safe driver, homeowner, anti-theft, accident prevention training, safe driver, and anti-lock brakes.
The example below shows the difference between premium costs with and without discounts applied to the policy premium. Data assumes a male driver, no claims or driving violations, Texas state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with multiple policy, claim-free, safe-driver, vehicle safety, anti-theft, and accident-free discounts applied. When drivers take advantage of discounts, the average savings per year on car insurance for state employees is 28% or $601.
The example below highlights how deductible selection can raise or lower insurance prices when searching for cheap insurance for state employees. The data is based on a married male driver, comprehensive and collision coverage, and no discounts are taken into consideration.
In the chart above, a 30-year-old driver could cut expenses by $396 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $598 by using a $1,000 deductible. Even younger insureds, such as the 20-year-old chart data, could save $1,206 annually just by choosing higher deductibles when buying full coverage. If you do make the decision to raise your deductibles, it will be necessary to have enough in a savings account to pay the extra out-of-pocket expense that comes with higher deductibles.
Here’s why you should shop around
Texas car insurance rates are based on many factors that may substantially change the cost of having a policy. Improving your credit score, buying higher coverage limits, or getting a DUI may prompt premium changes that may make certain companies more affordable than competitors. Not only may things change on your end, but auto insurance companies file new rates every year or even multiple times each year in order to remain profitable. Heavy losses can cause rate increases, while a profitable period can result in lower-priced Plano car insurance rates.
For example, the bar chart below demonstrates which company has the cheapest car insurance in Plano, TX for a 40-year-old male driver with no prior accidents, a clean driving record, and a good credit rating. If we estimate rates based on his current risk profile, Travelers might quote the best car insurance rates in Plano at $1,103 annually. This is $801 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the list of the top five cheapest Plano, TX auto insurance companies.
The example below compares rates after we give the driver from the above example a couple of claims, slightly worse credit, and a couple of points charged on his driving record. Because every insurance company has a proprietary formula for determining rates in each state, comparing rates will most likely result in a different set of cheap Plano auto insurance companies as shown below.
Mercury now has the cheapest price in Plano, TX with State Farm, USAA, Nationwide, and Safe Auto now rounding out the top five. This shows why it is critical to spend some time comparing rates when trying to get the best auto insurance quotes for state employees.
Auto insurance prices can be determined by many things and can increase or decrease at any time, so the cheapest rate the last time you compared rates may now be one of the more expensive options.