Who Has the Cheapest Plano Auto Insurance for Drivers Over Age 60?

Trying to find affordable insurance is difficult, and deciding which companies quote the most affordable insurance rates for drivers over age 60 takes even more diligence.

Every insurance provider has their own guidelines for setting rates, so first we will examine the insurance companies with the overall cheapest rates in Texas. It’s important to know that Plano insurance rates are based on many factors that will increase or decrease your annual premium. This price variability is why it is so important to perform an extensive rate comparison to find the cheapest auto insurance rates for drivers over age 60. Rates consist of many things and can change substantially, so the best option the last time you checked may now be quite expensive.

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What’s the cheapest car insurance in Texas?
Rank Company Cost Per Year
1 Travelers $1,052
2 USAA $1,117
3 Texas Farm Bureau $1,199
4 Germania Mutual $1,294
5 Esurance $1,379
6 California Casualty $1,382
7 State Farm $1,450
8 Mercury $1,521
9 Safe Auto $1,565
10 Nationwide $1,600
11 Progressive $1,664
12 Allstate $1,701
13 Amica $1,705
14 Home State $2,134
15 GEICO $2,135
16 MetLife $2,161
17 Unitrin $2,241
18 Encompass $2,255
19 21st Century $2,469
20 Titan $2,594
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Travelers normally has some of the cheapest car insurance rates in Plano at around $1,052 annually. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the more affordable Plano, TX insurance companies.

As depicted above, if you currently have coverage with Germania Mutual and switched to USAA, you might see yearly savings of in the vicinity of $177. Customers with Esurance may save as much as $262 a year, and California Casualty policyholders might realize rate reductions of up to $265 a year.

Be aware that those premium estimates are averaged across all drivers and vehicles in Texas and and are not figured with a specific zip code for drivers over age 60. So the company that fits you best may not even be in the top 23 companies shown above. That underscores the importance of why you need to get car insurance quotes using your own driver information and specific vehicle type.

For older drivers, one of the more important criteria that are used to help calculate car insurance rates is where your car is garaged. Areas with a lot of weather claims or more people tend to have more expensive car insurance rates, whereas areas with less crime or weather claims profit from lower rates.

The table below ranks the highest-priced areas in Texas for drivers over age 60 to buy car insurance in. Plano is ranked at #23 with a yearly cost of $1,560 for the average insurance policy, which is approximately $130 each month.

How much does auto insurance cost in Plano?
Rank City Annual Premium
1 McAllen $1,996
2 Laredo $1,889
3 Brownsville $1,870
4 Amarillo $1,840
5 Dallas $1,837
6 Houston $1,835
7 Garland $1,832
8 Mesquite $1,825
9 Grand Prairie $1,811
10 Pasadena $1,740
11 Beaumont $1,720
12 Irving $1,719
13 Arlington $1,692
14 San Antonio $1,688
15 Lubbock $1,682
16 Austin $1,659
17 Corpus Christi $1,636
18 Fort Worth $1,621
19 Carrollton $1,615
20 McKinney $1,577
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Annual rates are approximated as the specific garaging location can raise or lower coverage prices significantly.

The example below demonstrates how deductibles can increase or decrease insurance premiums when researching cheap insurance for drivers over age 60. The data is based on a single male driver, comprehensive and collision coverage, and no discounts are taken into consideration.

The chart above illustrates that a 40-year-old driver could lower their car insurance rates by $374 a year by switching from a $100 deductible to a $500 deductible, or save $564 by choosing a $1,000 deductible. Young drivers, like the age 20 example, could shave up to $1,236 each year by using a higher deductible.

When insureds make the decision to increase the deductibles on their policy, it will be important to have plenty of discretionary funds to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.

Comparison of full coverage and liability-only policies

Saving on insurance is probably important to the majority of people, and one great way to buy cheaper insurance for drivers over age 60 is to not buy comprehensive and collision coverage. The information below illustrates the comparison of auto insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data assumes no driving violations, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are applied to the premium.

On average, full coverage costs $1,730 per year more than buying just liability insurance. That raises the question if physical damage coverage is worth the money. There is no exact formula to delete physical damage coverage on your policy, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.

Selecting a high-quality car insurance company is difficult considering how many choices there are in Plano. The rank data displayed below can help you pick which companies to look at when shopping around. The rankings below are only comprised of companies with a nationwide focus, so companies with more of a regional focus are not factored into the list.

Plano, TX Insurance Company Rankings
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
Mercury Insurance 97 96 88 89% A+ 93.4
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
Titan Insurance 86 82 92 86% A+ 86.5
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Data Source: Insure.com Best Car Insurance Companies

Last year’s bargain might be this year’s rip off

Texas insurance rates are determined by lots of factors that can increase the policy premium. Simply turning a year older, buying higher coverage limits, or having an at-fault accident can trigger changes in premium that can make some companies much cheaper than others.

Not only may things change on your end, but insurance companies change their prices as often as every quarter to adjust for heavy claims or excess profits. Significantly higher claims may cause more expensive premiums, while a better loss history may produce lower-cost Plano car insurance rates.

To help illustrate this point, the bar chart below analyzes the cheapest car insurance in Plano, TX for a 30-year-old female driver with a clear driving record, no claims, and a decent credit rating. If we compare prices based on her current rating profile, Travelers might quote the cheapest car insurance rates in Plano at $1,078 each year. This is $826 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty round out the rest of the cheapest Plano, TX auto insurance companies.

The next chart shows rates after we give the driver from the first set of rates some claims, slightly worse credit, and a traffic ticket or two. Since every car insurance company has their own formula for setting prices, analyzing rate quotes may now result in a completely different list of the cheapest Plano car insurance companies as shown below.

State Farm now has the cheapest rate in Plano, TX with USAA, Mercury, Nationwide, and Safe Auto also being competitive. This shows why it is crucial to do a thorough rate comparison when trying to find the most affordable auto insurance rates for drivers over age 60. Car insurance prices consist of many things and can decrease or increase without notice, so the cheapest option the last time you compared rates may now cost much more than other companies.