Did you fall for a flashy sales pitch and buy an overpriced insurance policy? You’re preaching to the choir because many Plano drivers feel the same as you.
We don’t have to tell you that auto insurance companies don’t want policyholders to compare prices from other companies. People who shop around will most likely move their business because there is a high probability of finding a lower rate. Surprisingly, a recent survey revealed that people who routinely shopped for cheaper coverage saved about $865 annually as compared to drivers who don’t make a habit of comparing rates.
If finding the cheapest rates on insurance in Plano is your objective, then having some knowledge of the best ways to find and compare insurance rates can make the process more efficient. Due to the large number of insurance providers from which to choose, it can be difficult for people to pick a lower cost insurance company.
The providers in the list below can provide free quotes in Plano, TX. If multiple companies are listed, we recommend you visit two to three different companies in order to find the most competitive rates.
Best reasons to buy auto insurance in Texas
Despite the high cost of buying insurance for a Acura RL in Plano, insuring your vehicle may be mandatory for several reasons.
- Almost all states have mandatory liability insurance requirements which means you are required to carry a minimum amount of liability coverage in order to drive the car. 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 have a lien on your Acura, it’s most likely the lender will make it mandatory that you have physical damage coverage to protect their interest in the vehicle. If you do not pay your insurance premiums, the bank will be required to insure your Acura at a much higher premium rate and require you to reimburse them the higher premium.
- Insurance protects both your assets and your car. It will also provide coverage for medical transport and hospital expenses for not only you but also any passengers injured in an accident. Liability coverage also covers all legal expenses up to the policy limit if you are sued as the result of an accident. If mother nature or an accident damages your car, your auto insurance policy will cover the damage repairs after a deductible is paid.
The benefits of carrying adequate insurance definitely exceed the cost, particularly when you have a large claim. But the average driver in Texas is overpaying more than $855 a year so it’s important to compare rates at every policy renewal to make sure the price is not too high.
Rates and other information
The table below highlights estimates of insurance policy prices for Acura RL models. Being able to understand how auto insurance premiums are formulated can be of help when making decisions when choosing a new policy provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|RL 3.7 with Tech Package||$354||$772||$366||$22||$110||$1,624||$135|
|RL 3.7 with Tech/CMBS Package||$354||$772||$366||$22||$110||$1,624||$135|
|Get Your Own Custom Quote Go|
Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Rate information does not factor in vehicle location which can modify premium rates noticeably.
The information below demonstrates how deductible levels and can impact Acura RL annual premium costs for each different age category. The prices are based on a single male driver, full coverage, and no additional discounts are factored in.
Insurance rates based on gender
The chart below shows the difference between Acura RL annual premium costs for male and female drivers. The price estimates are based on no tickets, no at-fault accidents, comprehensive and collision coverage, $100 deductibles, drivers are single, and no discounts are applied.
Full coverage versus liability only rates
The chart below illustrates the comparison of Acura RL yearly insurance costs with full physical damage coverage and with liability coverage only. The rates are based on no claims, a clean driving record, $100 deductibles, single marital status, and no discounts are applied.
Guidelines for dropping full coverage
There is no exact formula for dropping physical damage insurance, but there is a guideline you can consider. If the annual cost of having full coverage is 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.
For example, let’s say your Acura RL settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $6,000 after paying your deductible. If you are paying more than $600 a year for your policy with full coverage, then it could be time to drop full coverage.
There are some situations where dropping full coverage is not a good plan. If you still have a loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should maintain full coverage.
Save a ton with these nine discounts
Auto insurance is not an enjoyable expense, but you might find some hidden discounts to cut the cost considerably. Many discounts should be triggered at the time of quoting, but a few need to be inquired about before you get the savings.
- Braking Control Discount – Cars and trucks with ABS and/or traction control are safer to drive so you can save 10 percent or more.
- Discounts for Government Workers – Simply working for the federal government can save as much as 8% with a few auto insurance companies.
- Multi-Vehicle Discounts – Drivers who insure more than one vehicle with the same auto insurance company qualifies for this discount.
- Safety Course Discount – Taking time to complete a safe driver course is a good idea and can lower rates depending on where you live.
- Good Students Pay Less – Getting good grades may save as much as 25% on a Plano auto insurance quote. This discount can apply until age 25.
- Early Switch Discount – A few larger companies offer discounts for signing up before your current expiration date. You could save around 10% when you buy Plano auto insurance online.
- Auto/Home Discount – If you combine your home and auto policies with the same insurance company you could get a discount of as much as 10 to 15 percent.
- Air Bags and Passive Restraints – Cars that have air bags could see savings up to 30%.
- Military Rewards – Having a deployed family member could be rewarded with lower prices.
Policy discounts save money, but most credits do not apply to the whole policy. Most cut the cost of specific coverages such as liability and collision coverage. So when it seems like you would end up receiving a 100% discount, nobody gets a free ride.
The information below shows the comparison of Acura RL auto insurance costs with and without discounts applied. The price estimates are based on a female driver, no accidents or driving violations, Texas state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, multi-car, marriage, claim-free, and safe-driver discounts applied.
A few popular companies and a partial list of their discounts are:
- State Farm includes discounts for Steer Clear safe driver discount, good driver, multiple autos, Drive Safe & Save, and passive restraint.
- American Family offers discounts including multi-vehicle, Steer into Savings, early bird, good student, and bundled insurance.
- AAA policyholders can earn discounts including anti-theft, good driver, multi-policy, education and occupation, and AAA membership discount.
- GEICO discounts include defensive driver, military active duty, daytime running lights, multi-vehicle, emergency military deployment, federal employee, and multi-policy.
- Mercury Insurance offers discounts for anti-theft, good driver, age of vehicle, type of vehicle, and professional/association.
- Farmers Insurance has savings for mature driver, pay in full, bundle discounts, homeowner, electronic funds transfer, distant student, and business and professional.
- Progressive may offer discounts for multi-vehicle, online signing, continuous coverage, homeowner, good student, and multi-policy.
When quoting, ask all companies you are considering how many discounts you can get. Discounts might not be available to policyholders in your area. To view insurance companies that offer discounts in Texas, click here to view.