Who Has the Cheapest Plano Auto Insurance for 18 Year Olds?

One of the more important considerations that aid in calculating car insurance rates is your zip code in Plano. Cities with more crime and/or more people likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates tend to receive slightly lower rates.

The next table rates the priciest cities in Texas for 18 year olds to purchase car insurance in. Plano is ranked #19 with a yearly premium of $1,608 on average, which is around $134 per month.

Car insurance prices in Plano
Rank City Annual Premium
1 McAllen $2,016
2 Brownsville $1,927
3 Houston $1,909
4 Dallas $1,893
5 Laredo $1,833
6 Garland $1,832
7 Pasadena $1,812
8 Grand Prairie $1,811
9 Amarillo $1,804
10 Beaumont $1,772
11 Mesquite $1,771
12 Irving $1,736
13 Lubbock $1,733
14 Arlington $1,709
15 San Antonio $1,688
16 Fort Worth $1,653
17 Carrollton $1,647
18 Austin $1,627
19 Plano $1,608
20 McKinney $1,577
21 Corpus Christi $1,572
22 Waco $1,569
23 El Paso $1,568
24 Abilene $1,561
25 Killeen $1,518
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Table data uses estimated as specific location information can modify coverage rates significantly.

Deciphering which insurers offer the lowest-priced auto insurance rates for 18 year olds will involve a little more sweat in order to find the lowest price.

Every insurance company has a different process for determining rates, so let’s examine the most budget-friendly auto insurance companies in Plano. It’s important that you understand Plano, TX auto insurance rates are influenced by many factors which can substantially decrease or increase the price of coverage. Simply turning a year older, buying a different vehicle, or getting a few speeding tickets can produce rate changes resulting in some companies being more affordable than others.

Best Insurance Companies for Teens

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Travelers has some of the best car insurance rates in Plano at around $1,052 annually. This is $852 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty also are some of the cheapest Plano, TX auto insurance companies.

As depicted above, if you buy coverage from Germania Mutual and switched to USAA, you could earn annual savings of in the vicinity of $139. Policyholders with California Casualty might save as much as $279 a year, and Esurance insureds might cut rates by $290 a year.

If you would like to find cheaper car insurance rates, click here to start your free quote or visit any of the low-priced companies below.

Bear in mind that those premium estimates are averages across all types of drivers and the different vehicles they drive and and are not calculated with a specific zip code for 18 year olds. So the insurer that fits you best may not even be in the list above. That emphasizes why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.

The vehicle model to be insured is probably the most important factor when shopping around for the best cheap car insurance for 18 year olds. Vehicles with lots of speed or power, a lack of advanced safety features, or high incidents of liability claims will cost more to insure than safer models.

The next list shows car insurance rates for a handful of the most cost-effective automobiles to buy coverage for.

Cheapest Vehicles to Insure in Plano, TX
Insured Vehicle Estimated Cost for Full Coverage
Honda Accord EX 4-Dr Sedan $3,101
Hyundai Elantra GLS Touring Station Wagon $3,107
Ford Escape Limited 2WD $3,136
Honda CR-V EX-L 2WD $3,143
Jeep Wrangler Sport 4WD 2-Dr $3,228
Toyota Prius $3,376
Dodge Grand Caravan CV $3,471
Ford Explorer Eddie Bauer 2WD $3,477
Ford Edge SEL AWD $3,641
Chevrolet Impala LS $3,649
Chevrolet Malibu LS $3,676
Ford Fusion S 4-Dr Sedan $3,682
Toyota RAV4 Sport 4WD $3,676
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Data variables include single male driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium amounts do not factor in the specific area where the vehicle is garaged which can impact coverage rates noticeably.

Based upon these rates, you can see that models like the Honda Accord, Hyundai Elantra, Ford Escape, Honda CR-V, and Jeep Wrangler are going to be some of the most economical vehicles to insure for teen drivers. The cost of auto insurance will tend to be higher because there is more liability exposure for 18 year olds, but generally speaking those vehicles will most likely have the lowest prices possible.

Best auto insurance in Plano

Ending up with a highly-rated auto insurance company can be a challenge considering how many companies sell coverage in Texas. The ranking information displayed below may help you select which auto insurers you want to consider when comparing auto insurance rates for 18 year olds. The ratings below are for companies who write in the majority of U.S. states, so companies without a large exposure will not be included in this list.

Top 10 Major Auto Insurers in Plano 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

Top 10 Major Auto Insurers in Plano Ranked by Customer Satisfaction

  1. USAA – 91%
  2. AAA Insurance – 90%
  3. Esurance – 90%
  4. Mercury Insurance – 89%
  5. Nationwide – 89%
  6. Travelers – 88%
  7. Progressive – 88%
  8. Safeco Insurance – 88%
  9. State Farm – 88%
  10. Allstate – 88%

Full coverage rates compared to liability only

Saving on auto insurance is probably important to the majority of drivers, and one way to reduce the cost of insurance for 18 year olds is to only buy liability insurance. The chart below shows the comparison of insurance prices with full coverage compared to only the Texas minimum liability coverage. Data assumes no accidents, no driving violations, $100 deductibles, single status, and no discounts are applied to the premium.

If averaged out across all ages, physical damage coverage on your policy costs $2,429 per year more than carrying just liability coverage. A very common question is if you should buy full coverage at all. There is no definitive rule to eliminate comp and collision coverage, but there is a general guideline. If the annual cost of having full coverage is about 10% or more of the settlement you would receive from your company, then you might consider buying liability only.

For example, let’s say your vehicle’s claim settlement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $5,000 after paying your deductible. If you are paying more than $500 annually for your policy with full coverage, then you may want to consider only buying liability coverage.

There are some circumstances where only buying liability is not a good plan. If you have an outstanding loan on your vehicle, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not buy liability only.

Here’s why you should shop around

Texas auto insurance rates are impacted by many things that can increase the price you have to pay. Improving your credit rating, becoming a homeowner, or having a fender bender can cause premium changes that may make certain companies cheaper than competitors.

Not only may your situation change, but auto insurance companies file new Texas auto insurance rates every year or even multiple times each year in order to be able to pay unexpected claims. Higher than normal claim frequency or severity can result in high rates, while less frequent claims can result in cheaper Plano car insurance rates.

To help illustrate this point, the data below shows which companies have the cheapest car insurance in Plano, TX for a 40-year-old male driver with a good driving record, no prior claims, and a good credit history. If we compare prices based on his personal risk profile, Travelers may have the cheapest car insurance rates in Plano at $1,081 annually. This is $823 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 best Plano, TX auto insurance companies.

The chart below compares rates after we give the driver in the first example a chargeable claim, less-than-perfect credit, and a traffic ticket or two. Due to the fact that each insurance company has a unique approach for determining rates in each state, comparing prices will most likely result in a new list of the cheapest Plano car insurance companies as shown below.

State Farm now has the lowest price on auto insurance in Plano, TX with USAA, Mercury, Safe Auto, and Nationwide also being competitive. This shows why it is crucial to compare as many rates as possible to get affordable insurance rates for 18 year olds.

Insurance prices are made up of many factors and can decrease or increase without notice, so the most economical company the last time you checked may now be one of the more expensive options.