Really, the only way to get more affordable auto insurance rates in Plano is to do a yearly price comparison from insurers that sell auto insurance in Texas. Rate comparisons can be done by following these steps.
First, try to learn about the coverage provided by your policy and the factors you can control to lower rates. Many risk factors that result in higher prices such as careless driving and poor credit history can be rectified by being financially responsible and driving safely. Continue reading for more information to prevent high prices and get discounts that may be overlooked.
Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can give quotes from a single company like GEICO or Farmers Insurance, while independent agencies can quote rates from multiple sources.
Third, compare the quotes to the price on your current policy to see if switching to a new carrier will save money. If you find better rates and decide to switch, ensure coverage does not lapse between policies.
One thing to remember is to make sure you enter similar deductibles and liability limits on each quote request and and to analyze as many companies as possible. This enables an accurate price comparison and a complete selection of prices.
A recent NerdWallet.com study revealed that a large majority of drivers in Texas have been with the same company for a minimum of four years, and approximately 40% of consumers have never taken the time to shop around. American drivers can save 47% each year by just comparing rate quotes, but they mistakenly think it’s difficult to compare rate quotes online.
Verify you’re earning every discount
Insurance is expensive, but there may be some discounts that you may not know about. Some trigger automatically at the time of quoting, but a few must be inquired about before you will receive the discount.
- Military Discounts – Being on active duty in the military may lower your premium rates slightly.
- Theft Prevention Discount – Cars, trucks, and SUVs optioned with advanced anti-theft systems can help prevent theft and will qualify for a discount on a Plano car insurance quote.
- Low Mileage Discounts – Low annual miles can earn lower premium rates due to less chance of an accident.
- Braking Control Discount – Cars and trucks with anti-lock braking systems can reduce accidents and earn discounts up to 10%.
- Distant Student – Any of your kids who attend college more than 100 miles from Plano and won’t have access to an insured vehicle may qualify for this discount.
While discounts sound great, it’s important to understand that most discount credits are not given to the whole policy. Most cut the price of certain insurance coverages like liability and collision coverage. So when the math indicates you could get a free insurance policy, it’s just not the way it works.
The information below illustrates the difference between Honda Element car insurance rates with and without some available policy discounts. Data assumes a female driver, no accidents, no driving violations, Texas state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, safe-driver, claim-free, homeowner, and marriage discounts applied.
Popular insurance companies and the discounts they provide can be read below.
- GEICO may include discounts for air bags, military active duty, emergency military deployment, five-year accident-free, and federal employee.
- Mercury Insurance offers discounts for good student, anti-theft, multi-policy, ease of repair, low natural disaster claims, and multi-car.
- Farmers Insurance has savings for switch companies, electronic funds transfer, mature driver, pay in full, and bundle discounts.
- Auto-Owners Insurance may offer discounts for anti-lock brakes, good student, safe vehicle, air bags, multiple vehicles, and anti-theft.
- Liberty Mutual has discounts for exclusive group savings, teen driver discount, hybrid vehicle, newly married, and multi-car.
- SAFECO may have discounts that include teen safe driver, anti-lock brakes, teen safety rewards, homeowner, and drive less.
- Progressive includes discounts for continuous coverage, multi-policy, online signing, homeowner, good student, and multi-vehicle.
- USAA policyholders can earn discounts including multi-policy, annual mileage, multi-vehicle, vehicle storage, loyalty savings, and safe driver.
Before buying, ask every insurance company which credits you are entitled to. Some credits might not be offered on policies in your area. For a list of insurance companies who offer online Honda Element insurance quotes in Texas, click here.
When price shopping your coverage, obtaining a wide range of quotes will increase your chances of finding more affordable rates. Not every company allows you to get Plano Element insurance quotes online, so it’s important to compare rates on coverage from those companies, too.
The providers in the list below are ready to provide quotes in Texas. To find cheap car insurance in Plano, we recommend you compare several of them to get the best price comparison.
Rates and data analysis
The information displayed next covers a range of rate quotes for Honda Element models. Having a better idea how insurance prices are figured can benefit drivers when making decisions when shopping around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Element LX 2WD||$156||$322||$430||$26||$128||$1,062||$89|
|Element LX 4WD||$156||$322||$430||$26||$128||$1,062||$89|
|Element EX 2WD||$156||$322||$430||$26||$128||$1,062||$89|
|Element EX 4WD||$156||$322||$430||$26||$128||$1,062||$89|
|Element SC 2WD||$156||$322||$430||$26||$128||$1,062||$89|
|Get Your Own Custom Quote Go|
Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Price information does not factor in garaging location in Plano which can impact coverage rates considerably.
The diagram below shows how choosing a deductible and can increase or decrease Honda Element insurance rates for each different age category. The data is based on a married male driver, comp and collision included, and no discounts are factored in.
Age, gender, and Honda Element insurance
The chart below illustrates the comparison of Honda Element insurance rates for male and female drivers. The premiums are based on no accidents or driving violations, comp and collision included, $100 deductibles, single status, and no discounts are applied to the premium.
Cost of full coverage in Plano
The chart below shows the difference between Honda Element car insurance costs with full coverage compared to only the Texas minimum liability coverage. Data assumes a clean driving record, no claims, $500 deductibles, drivers are single, and no discounts are applied.
Should you buy full coverage or liability only?
There isn’t a steadfast formula of when to drop full coverage, but there is a guideline you can use. If the annual cost of coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.
For example, let’s pretend your Honda Element replacement cost is $7,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $6,000 after you pay the deductible. If it’s costing in excess of $600 a year for comprehensive and collision coverage, then you might want to think about dropping full coverage.
There are a few situations where buying only liability insurance is not financially feasible. If you haven’t paid off your loan, you have to carry full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not eliminate full coverage.
How Insurance Providers Determine Honda Element Insurance Prices
A large part of saving on car insurance is knowing a few of the rating criteria that aid in calculating your policy premiums. If you understand what controls the rates you pay, this enables informed choices that will entitle you to big savings.
The following are just a few of the factors utilized by car insurance companies to help set premiums.
High comp and collision deductibles lower costs – Protection for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, protects your Honda from damage. Some examples of covered claims would be a dented fender, vandalism, and burglary. Comp and collision deductibles define the amount you are willing to pay if the claim is covered. The more you choose to pay out-of-pocket, the less your company will charge you for insurance.
Cars with good safety ratings means cheaper insurance – Vehicles that have high safety ratings tend to have lower insurance rates. Safe vehicles protect occupants better and fewer injuries means less money paid by your insurance company and more competitive rates for policyholders.
Urban residents pay more – Living in a small town may provide you with better prices when trying to find low car insurance rates. Fewer drivers and short commutes translates into fewer accident claims. Urban drivers tend to have more road rage incidents and more time behind the wheel. Spending more time driving means a statistically higher chance of an accident.
Additional coverages that may be costing you – Insurance policies have a lot of add-on coverages that may not really be needed when buying car insurance. Things like vanishing deductibles, high-cost glass coverage, and membership fees are some examples. They may seem good when you first buy your policy, but now you might not need them so consider taking them off your policy.
More miles driven equals more premium – Driving more miles in a year’s time the more it will cost to insure it. The majority of insurers rate vehicles based upon how much you drive. Vehicles that sit idle most of the time qualify for better rates than those used for commuting. An improperly rated Element may be costing you higher rates. Verify your car insurance policy is rated on the correct driver usage, because it can save money.
Alarms and GPS tracking systems cut rates – Selecting a car model that has an advanced theft prevention system can help lower your premiums. Anti-theft devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder auto theft and help lower rates.
Comparing quotes from local Plano insurance agents
Certain consumers prefer to go talk to an agent and that is a smart decision One of the benefits of price shopping on the web is you can get lower rates and still buy from a local agent. Buying from neighborhood insurance agencies is especially important in Plano.
Once you complete this short form, your insurance data is sent to local insurance agents in Plano who will give you quotes for your business. There is no reason to drive around since price quotes are sent to you. You can find better rates without the usual hassles of price shopping. If you wish to get a comparison quote from a specific auto insurance provider, don’t hesitate to find their quoting web page to submit a rate quote request.
When researching a reputable agency, it helps to know the two different types of agents that you can select. Plano agents can be classified as either independent or exclusive.
Independent Auto Insurance Agencies or Brokers
Agents of this type are not employed by one company and that allows them to write policies through many companies enabling the ability to shop coverage around. If your agent finds better pricing, the business is moved internally and that require little work on your part.
If you need cheaper auto insurance rates, it’s a good idea to check rates from several independent insurance agents to maximize your price options. They often place coverage with small mutual carriers which could offer lower prices.
Below are Plano independent agencies who may provide free rate quotes.
- Executive Insurance Agency
6900 Alma Dr – Plano, TX 75023 – (469) 229-9080 – View Map
- Sills Insurance
2817 Regal Rd # 101 – Plano, TX 75075 – (972) 596-5866 – View Map
- Nationwide Insurance: Reginald Denard White
800 E Central Pkwy Ste 200 – Plano, TX 75074 – (972) 422-9412 – View Map
Exclusive agencies generally can only insure with one company such as Farmers Insurance or State Farm. These agents are not able to provide prices from multiple companies so always compare other rates. Exclusive agents receive a lot of sales training on sales techniques which helps them compete with independent agents. Drivers often purchase coverage from exclusives primarily because of the brand name rather than having low rates.
Listed below is a list of exclusive agencies in Plano willing to provide price quotes.
- Allstate Insurance: John Clements
2500 Dallas Pkwy Ste 150 – Plano, TX 75093 – (972) 312-1800 – View Map
- Byron Wilkerson – State Farm Insurance Agent
9720 Coit Rd #140 – Plano, TX 75025 – (214) 618-5700 – View Map
- Jason Ruiz – State Farm Insurance Agent
5809 Preston Rd #586 – Plano, TX 75093 – (972) 378-1024 – View Map
Choosing a car insurance agent requires you to look at more than just a cheap price quote. These are some questions you should get answers to.
- Will one accident increase rates?
- Does the company allow you to choose your own collision repair facility?
- How long has their agency been open in Plano?
- Are they full-time agents?
- Which companies do they recommend if they are an independent agency?
Why do I need car insurance?
Despite the potentially high cost of Honda Element insurance, insurance serves several important purposes.
- Almost all states have minimum mandated liability insurance limits which means you are required to buy a specific minimum amount of liability insurance coverage in order to get the vehicle licensed. 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 loan on your vehicle, it’s guaranteed your bank will require you to carry insurance to ensure loan repayment if the vehicle is totaled. If you default on your policy, the lender may insure your Honda at an extremely high rate and require you to reimburse them for the much more expensive policy.
- Car insurance preserves not only your car but also your assets. It also can pay for medical expenses for both you and anyone you injure as the result of an accident. Liability coverage also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If you have damage to your Honda as the result of the weather or an accident, comprehensive (other-than-collision) and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of buying car insurance outweigh the cost, especially with large liability claims. But the average driver in Texas overpays as much as $810 a year so we recommend shopping around at every renewal to ensure rates are inline.
Be persistent to save money
When getting Plano car insurance quotes online, it’s a bad idea to sacrifice coverage to reduce premiums. Too many times, drivers have reduced full coverage only to regret they didn’t purchase enough coverage. The proper strategy is to buy enough coverage for the lowest price.
Consumers who switch companies do it for many reasons like high rates after DUI convictions, delays in responding to claim requests, questionable increases in premium and even being labeled a high risk driver. Whatever your reason, switching car insurance companies is not as hard as you think.
Some insurance companies do not provide rate quotes online and most of the time these regional carriers prefer to sell through local independent agencies. Cheap Honda Element insurance in Plano is attainable on the web as well as from independent agents in Plano, so compare prices from both in order to have the best price selection to choose from.
Much more information about car insurance in Texas can be read at these links:
- How to shop for a safer car (Insurance Institute for Highway Safety)
- Who Has Cheap Car Insurance Quotes for a Learners Permit in Plano? (FAQ)
- Who Has Affordable Car Insurance for a Toyota Highlander in Plano? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Low Credit Scores in Plano? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Handicapped Drivers in Plano? (FAQ)
- Who Has Affordable Plano Auto Insurance for Ride Shares? (FAQ)
- Who Has the Cheapest Auto Insurance for Homeowners in Plano? (FAQ)
- How Much are Plano Car Insurance Quotes for a 20 Year Old Male? (FAQ)
- Who Has Cheap Car Insurance Quotes for Uber Drivers in Plano? (FAQ)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- A Tree Fell on Your Car: Now What? (Allstate)
- Five Mistakes to Avoid (Insurance Information Institute)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)