Save Money on Kia Rio Insurance in Plano

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Discount Kia Rio insuranceAre you sick of overpaying and want more competitive auto insurance rates in Plano, TX? Plano drivers have options when trying to find affordable Kia Rio insurance. You can either waste hours contacting agents getting price quotes or leverage the internet to get rate quotes.

There are more efficient ways to compare auto insurance rates and you need to know the quickest way to compare rates for a Kia and get the cheapest rates from both online companies and Plano agents.

The purpose of this post is to tell you the best way to quote coverages and also save some money in the process If you have insurance now, you will definitely be able to get lower rates using the ideas presented in this article. Smart buyers only need an understanding of how to quote multiple rates online.

The following companies can provide free quotes in Texas. If you want to find cheaper car insurance in Texas, it's a good idea that you compare several of them to get the most competitive price.

Insurance coverage details

The information shown below outlines detailed analysis of rate quotes for Kia Rio models. Understanding more about how prices are determined can aid in making informed coverage decisions.

Kia Rio Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Rio $220 $486 $486 $28 $146 $1,366 $114
Rio LX $220 $486 $486 $28 $146 $1,366 $114
Rio SX $254 $572 $486 $28 $146 $1,486 $124
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Data variables include single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Rate information does not factor in specific garaging location which can decrease or increase coverage prices noticeably.

Auto insurance deductibles

One of the hardest decisions when shopping for auto insurance is the level to set your comp and collision deductibles. The tables below can help show the costs and benefits when you buy lower versus higher policy deductibles. The first set of prices uses a $250 deductible for comprehensive and collision coverage and the second price table uses a $1,000 deductible.

Kia Rio insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Rio $256 $496 $430 $26 $128 $1,361 $113
Rio LX $256 $496 $430 $26 $128 $1,361 $113
Rio SX $294 $584 $430 $26 $128 $1,487 $124
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Kia Rio insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Rio $158 $312 $430 $26 $128 $1,054 $88
Rio LX $158 $312 $430 $26 $128 $1,054 $88
Rio SX $182 $368 $430 $26 $128 $1,134 $95
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Rate information does not factor in Plano location which can raise or lower rates considerably.

We can estimate from the data above that using a $250 deductible will cost you about $27 more each month or $324 each year than requesting the higher $1,000 deductible. Since you would pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you average at a minimum 28 months between claim filings, you would most likely save money if you decide on a higher deductible.

How to determine when to raise deductibles

Average monthly premium for $250 deductibles: $117
Average monthly premium for $1,000 deductibles (subtract): - $90
Monthly savings from raising deductible: $27
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $27
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 28 months

Best reasons to buy car insurance in Texas

Even though Plano Rio insurance rates can get expensive, insuring your vehicle is mandatory in Texas but it also protects more than you think.

  • Most states have minimum mandated liability insurance limits which means state laws require specific minimum amounts of liability insurance in order to license the vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If you bought your vehicle with a loan, most lenders will stipulate that you buy insurance to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the bank or lender will purchase a policy for your Kia at a much higher rate and make you pay the higher premium.
  • Car insurance protects your Kia Rio and your assets. It will also provide coverage for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability coverage, the one required by state law, will also pay for a defense attorney if you cause an accident and are sued. If mother nature or an accident damages your car, collision and comprehensive (also known as other-than-collision) coverage will cover the damage repairs after a deductible is paid.

The benefits of carrying enough insurance more than offset the price you pay, especially with large liability claims. According to a 2015 survey, the average American driver is wasting up to $855 a year so compare quotes from several companies every year to ensure rates are inline.

How Insurance Companies Calculate Kia Rio Insurance Premiums

Part of the auto insurance buying process is learning the factors that help determine the level of your policy premiums. If you have a feel for what determines base rates, this helps enable you to make changes that could result in big savings. Many things are part of the equation when quoting car insurance. Some factors are common sense such as traffic violations, but other factors are not quite as obvious like your vehicle usage or your financial responsibility.

  • Teen vs. mature drivers - Older, more experienced drivers are more cautious drivers, statistically cause fewer accidents, and are safer drivers. Teenage drivers are statistically shown to be inattentive in a vehicle and because of this, their auto insurance rates are much higher.

    The following data assumes a single driver, full coverage with $250 deductibles, and no discounts or violations.

  • Pay lower rates after the wedding - Having a spouse helps lower the price when buying auto insurance. It means you're more mature and it's statistically proven that married drivers tend to have fewer serious accidents.
  • Urban areas may pay more - Being located in less populated areas is a good thing if you are looking for the lowest rates. Less people living in that area means a lower chance of having an accident in addition to lower liability claims. Drivers who live in large Texas cities regularly have congested traffic and a longer drive to work. Longer commute distances can result in more accidents.
  • Don't abuse claims - Companies in Texas provide most affordable rates to people who do not rely on their insurance for small claims. If you file a lot of claims you can definitely plan on either policy cancellation or increased premiums. Auto insurance is intended for claims that pose a financial burden.
  • Kia Rio claim probability - Companies factor in historical loss data when they file their rates in each state. Models that historically have increased claim numbers or amounts will have higher premium rates. The next table shows the historical loss data for Kia Rio vehicles.

    For each type of coverage, the claim amount for all vehicles averaged together is equal to 100. Values that are below 100 suggest losses that are better than average, while numbers above 100 point to more claims or an increased probability of a larger loss.

    Insurance Loss Ratings for Kia Rio Vehicles
    Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Kia Rio 90 109 81 141 158 127
    BETTER
    AVERAGE
    WORSE

    Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

How to find a good Plano auto insurance company

Insuring your vehicle with the right insurance company can be a challenge considering how many different companies there are to choose from in Texas. The information below may help you decide which auto insurance companies to look at comparing rates with.

Top 10 Plano Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Allstate
  7. State Farm
  8. The Hartford
  9. Safeco Insurance
  10. Progressive

Top 10 Plano Car Insurance Companies Ranked by Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. The General
  9. 21st Century
  10. Esurance

Compare but don't skimp

When buying insurance coverage, it's not a good idea to sacrifice coverage to reduce premiums. In too many instances, someone dropped comprehensive coverage or liability limits only to regret that the small savings ended up costing them much more. The ultimate goal is to buy the best coverage you can find at a price you can afford, not the least amount of coverage.

Budget-conscious Kia Rio insurance can be bought both online in addition to many Plano insurance agents, so you should compare both so you have a total pricing picture. Some companies don't offer rates over the internet and many times these regional insurance providers only sell coverage through local independent agents.

Insureds change insurance companies for a variety of reasons including policy cancellation, lack of trust in their agent, denial of a claim and delays in responding to claim requests. No matter why you want to switch, finding a new company can be easy and end up saving you some money.

How to find more affordable Kia Rio insurance in Plano

If saving money is your primary concern, then the best way to get cheaper Kia Rio insurance is to compare prices at least once a year from different companies who provide car insurance in Plano.

Step 1: Try to learn a little about how your policy works and the things you can control to prevent high rates. Many things that result in higher rates such as speeding tickets, accidents and a low credit rating can be controlled by being financially responsible and driving safely.

Step 2: Compare rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from a single company like GEICO and Allstate, while independent agents can provide price quotes for a wide range of insurance providers.

Step 3: Compare the quotes to your current policy to see if a cheaper price is available in Plano. If you find a better price, ensure coverage does not lapse between policies.

Step 4: Provide notification to your current agent or company of your decision to cancel your existing policy. Submit a down payment and signed policy application to your new insurance company. Be sure to place your new proof of insurance paperwork along with the vehicle's registration papers.

A crucial key to this process is to make sure you enter the same coverage limits and deductibles on each quote request and to quote with as many companies as you can. Doing this guarantees a level playing field and and a good selection of different prices.

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