Pricey Mini Cooper insurance in Plano can sap your funds and force you to make sacrifices.
Unbelievable but true, most insurance policyholders in Texas kept their policy with the same company for more than four years, and just under half have never quoted rates to find lower-cost coverage. With the average insurance premium being $1,847, American drivers can save nearly $859 each year by just comparing quotes, but most tend to underestimate the actual amount they would save if they replace their high priced policy.
Since you have so many choices of insurance companies that have affordable insurance for a Mini Cooper in Plano, it can be impossible to pick the cheapest insurance company.
Locating the best rates in Plano can be much easier if you know how to start. If you are paying for car insurance now, you should be able to reduce the price you pay using the following tips. But Texas drivers should learn the methods companies use to sell online and use it to find better rates.
When price shopping your coverage, comparing more rates from different companies helps improve the odds of finding more affordable insurance. Not every company does online rate quotes, so it's necessary to compare rates on coverage from those companies, too.
The companies in the list below have been selected to offer price quotes in Plano, TX. To locate cheap auto insurance in TX, we suggest you compare several of them to find the most affordable car insurance rates.
Mini Cooper insurance discounts in Plano
Car insurance companies don't always list all their discounts very clearly, so below is a list some of the best known as well as some of the hidden discounts that you may qualify for.
- ABS Braking Discount - Cars and trucks that have steering control and anti-lock brakes prevent accidents and therefore earn up to a 10% discount.
- Fewer Miles Equal More Savings - Fewer annual miles on your Mini could earn slightly better insurance rates than normal.
- Drivers Ed for Students - Have your child enroll in driver's education as it will make them better drivers and lower rates.
- Distant College Student Discount - Kids who live away from home at college and do not have a car may be able to be covered for less.
- Life Insurance - Not every insurance company offers life insurance, but if they do you may earn a discounted insurance rate on car insurance if you buy some life insurance in addition to your auto policy.
- Discount for Multiple Policies - If you can combine your auto and homeowners policy with the same company you could earn a discount of at least 10% off all policies.
- Good Driver Discounts - Insureds who avoid accidents can save up to 40% or more on their Plano auto insurance quote than drivers with accidents.
Discounts reduce rates, but you should keep in mind that most of the big mark downs will not be given to your bottom line cost. A few only apply to specific coverage prices like liability and collision coverage. Just because you may think adding up those discounts means a free policy, company stockholders wouldn't be very happy.
The illustration below shows the difference between Mini Cooper auto insurance rates with and without discounts being applied to the rates. The data is based on a female driver, no claims, a clean driving record, Texas state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, homeowner, marriage, safe-driver, and multi-policy discounts applied.
A list of companies and their offered discounts can be read below.
- American Family may offer discounts for mySafetyValet, multi-vehicle, good driver, TimeAway discount, and accident-free.
- Farm Bureau may include discounts for good student, multi-policy, youthful driver, 55 and retired, renewal discount, and driver training.
- State Farm offers premium reductions for accident-free, multiple policy, student away at school, good student, driver's education, and Steer Clear safe driver discount.
- Travelers has discounts for student away at school, new car, IntelliDrive, payment discounts, and good student.
- The Hartford policyholders can earn discounts including good student, defensive driver, vehicle fuel type, anti-theft, and air bag.
- GEICO includes discounts for driver training, federal employee, seat belt use, defensive driver, air bags, good student, and emergency military deployment.
- Progressive may have discounts that include continuous coverage, online signing, online quote discount, good student, and multi-policy.
If you need low cost Plano auto insurance quotes, ask each insurance company to give you their best rates. Some credits may not be offered in your state.
Mini Cooper insurance analysis
The premium table displayed below highlights a range of insurance costs for Mini Cooper models. Having a better understanding of how insurance premiums are figured can assist in making smart choices when selecting a coverage provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cooper 2-Dr Hatchback||$208||$312||$424||$26||$128||$1,098||$92|
|Cooper 2-Dr Convertible||$208||$312||$330||$20||$98||$968||$81|
|Cooper S 2-Dr Hatchback||$208||$368||$424||$26||$128||$1,154||$96|
|Cooper S 2-Dr Convertible||$234||$368||$330||$20||$98||$1,050||$88|
|Cooper John Cooper Works 2-Dr Hatchback||$234||$368||$424||$26||$128||$1,180||$98|
|Cooper John Cooper Works 2-Dr Convertible||$260||$424||$330||$20||$98||$1,132||$94|
|Get Your Own Custom Quote Go|
Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Prices do not factor in garaging location in Plano which can modify rates considerably.
The diagram below shows how different deductible levels and can raise or lower Mini Cooper insurance premiums for different insured age categories. The data is based on a married male driver, full coverage, and no additional discounts are factored in.
Compare prices but still have a local Plano insurance agency
A lot of people still like to get professional advice from a licensed agent and that is OK! A nice benefit of price shopping on the web is that drivers can save money and get cheaper premium rates and still buy from a local agent.
Upon completion of this form (opens in new window), your insurance data is immediately sent to local insurance agents who want to provide quotes for your coverage. It makes it easy because there is no need to find an agent as quotes are delivered immediately to your email address. You can get cheaper insurance rates and an insurance agent to talk to. If you need to compare prices for a specific company, you can always jump over to their website and fill out their quote form.
Finding the right company shouldn't rely on just the price. Here are some questions to ask:
- Who are their largest clients?
- Do the coverages you're quoting properly cover your vehicle?
- Will one accident increase rates?
- Can you contact them at any time?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Does the company have a local claim office in Plano?
Exclusive or Independent: There is a difference
When searching for a local Plano insurance agency, it can be helpful to understand the different agency structures and how they function. Plano agents can be categorized as either exclusive or independent.
Agents in the exclusive channel normally can only provide a single company's rates and some examples include Allstate, Farmers Insurance or State Farm. Exclusive agents are unable to provide other company's prices so keep that in mind. These agents receive extensive training on what they offer and that can be a competitive advantage.
Listed below is a short list of exclusive agencies in Plano who may provide you with comparison quotes.
Independent Insurance Agents
Independent agencies are normally appointed by many insurers and that enables them to quote your coverage with multiple insurance companies and get you the best rates possible. If your agent finds better pricing, your policy is moved internally which makes it simple for you.
When shopping rates, you will want to include price quotes from at least one independent agent to get the most accurate price comparison.
The following are Plano independent insurance agents willing to provide rate quotes.
Nationwide Insurance: Nicholas Arthur Purvis Agency
5600 Tennyson Pkwy #243 - Plano, TX 75024 - (972) 665-9975 - View Map
Texas FIrst Rate Insurance Agency
2105 W Spring Creek Pkwy #375c - Plano, TX 75023 - (972) 467-6500 - View Map
After talking to the agent and getting good feedback and an affordable coverage quote, it's a good possibility that you have found an auto insurance agent that meets your needs to insure your vehicles.
You may need specialized car insurance coverage
When buying insurance from an agent or online, there really is no cookie cutter policy. Everyone's situation is a little different.
Here are some questions about coverages that might help in determining whether you would benefit from professional advice.
- What are the best liability limits?
- Should I rate my vehicle as business use?
- Do I pay less for low miles?
- Do I need added coverage for expensive stereo equipment?
- When should I not buy collision coverage?
- How can I get the company to pay a claim?
- Is other people's property covered if stolen from my vehicle?
- Should I buy only the required Texas minimum liability coverage?
- Do I need PIP coverage since I have good health insurance?
If it's difficult to answer those questions, you might consider talking to an insurance agent. To find lower rates from a local agent, simply complete this short form.
Why You Might Pay Higher Rates in Plano
Many different elements are part of the equation when you quote your car insurance policy. Some are pretty understandable such as traffic violations, although others are not as apparent such as your credit history or your financial responsibility. Consumers need to have an understanding of some of the things that are used to determine your policy premiums. If you understand what positively or negatively impacts your premiums, this allows you to make good choices that could help you find lower car insurance prices.
The following are a few of the things used by companies to determine your premiums.
- Discounts for auto and home policies - Most larger insurers allow better rates to buyers who consolidate policies with them such as combining an auto and homeowners policy. Even with this discount, you still need to compare other Plano Cooper insurance rates to guarantee you are still saving the most.
Performance impacts insurance premiums - The performance level of the car or truck you own makes a huge difference in your premium level. Economy passenger cars usually have the lowest rates, but that's not the only thing that factors into the final price.
The data below assumes a married male driver age 40, full coverage with $500 deductibles, and no discounts or violations. It shows Mini Cooper car insurance rates compared to other makes and models that have a range of performance rating factors.
How old are your drivers? - Older drivers have been proven to be more responsible, tend to file fewer claims, and get fewer tickets. Teenage drivers are statistically shown to get distracted easily in a vehicle so car insurance rates are higher.
The chart below assumes a single driver, full coverage with $250 deductibles, and no discounts or violations.
- Save money with higher deductibles - Comprehensive and collision coverage deductibles are how much you are willing to pay before your car insurance pays a claim. Coverage for physical damage, also called 'full coverage', covers damage that occurs to your car. Examples of covered claims could be rear-ending another vehicle, collision with a deer, and damage caused by road hazards. The more of the claim you choose to pay out-of-pocket, the better rate you will receive.
Better drivers pay lower premiums - Good drivers have lower premiums as compared to those with violations. Even one speeding ticket or other violation can increase rates by as much as twenty percent. Drivers who have received flagrant violations like reckless driving, hit and run or driving under the influence may need to file a SR-22 with their state DMV in order to prevent a license revocation.
The chart below demonstrates how speeding tickets and fender-benders can influence Mini Cooper yearly insurance costs for different age categories. The rate quotes are based on a single male driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.
Mini Cooper insurance loss data - Insurance companies take into consideration historical loss data for every vehicle to calculate a price that will offset any claims. Models that tend to have higher number or severity of losses will be charged more to insure.
The table below outlines the compiled insurance loss statistics for Mini Cooper vehicles. For each coverage type, the statistical loss for all vehicles, regardless of make or model, is equal to 100. Values below 100 suggest losses that are better than average, while values over 100 point to more losses or an increased chance of larger losses than average.
Auto Insurance Loss Data for Mini Cooper Models Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Mini Cooper 92 72 114 74 74 85 Mini Cooper Convertible 80 72 100 57 Mini Cooper Coupe 72 60 Mini Cooper Roadster Convertible 57 50 78BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Three reasons to not skimp on insurance
Despite the high insurance cost for a Mini Cooper in Plano, insuring your vehicle is not optional due to several reasons.
- Most states have mandatory liability insurance requirements which means the state requires specific minimum amounts of liability insurance coverage in order to be legal. 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 Mini with a loan, it's most likely the lender will force you to have physical damage coverage to ensure loan repayment if the vehicle is totaled. If you default on your policy, the bank may insure your Mini for a much higher rate and require you to pay for the much more expensive policy.
- Insurance protects both your vehicle and your assets. It will also pay for medical expenses for yourself as well as anyone injured by you. Liability coverage also covers legal expenses if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of having insurance more than offset the price you pay, especially for larger claims. But the average driver in Texas is wasting up to $850 per year so compare rates at every policy renewal to be sure current rates are still competitive.
Quote more and you will save more
You just read some good ideas how to get a better price on Mini Cooper insurance in Plano. The key concept to understand is the more price quotes you have, the higher your chance of finding affordable Mini Cooper insurance quotes. You may even discover the most savings is with a smaller regional carrier.
Affordable Mini Cooper insurance in Plano can be bought on the web and with local Plano insurance agents, and you need to price shop both to have the best rate selection. Some companies may not have online rate quotes and usually these small insurance companies only sell coverage through local independent agents.
Drivers switch companies for many reasons like policy cancellation, an unsatisfactory settlement offer, questionable increases in premium and even denial of a claim. No matter why you want to switch, choosing a new insurance company is not as difficult as it may seem.
How to buy discount Mini Cooper insurance in Plano
The easiest way to get discount Mini Cooper insurance in Plano is to compare prices regularly from different companies in Texas. This can be done by completing these steps.
- First, spend some time learning about car insurance and the measures you can take to lower rates. Many things that increase rates like speeding tickets, accidents and a bad credit rating can be rectified by improving your driving habits or financial responsibility.
- Second, request rate estimates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give prices from one company like Progressive or Farmers Insurance, while independent agents can give you price quotes for many different companies.
- Third, compare the new rates to your existing coverage to see if a cheaper rate is available. If you can save money, ensure there is no coverage lapse between policies.
- Fourth, give notification to your current company to cancel your current policy and submit a down payment and signed policy application for your new coverage. As soon as you receive it, store the certificate of insurance along with your vehicle registration.
One key aspect of rate comparisons is that you'll want to make sure you compare identical coverage information on every quote and and to get rates from all possible companies. This enables a fair price comparison and maximum price selection.
For more information, take a look at these articles:
- Should I Buy a New or Used Car? (Allstate)
- Who Has Cheap Plano Auto Insurance for a GMC Sierra? (FAQ)
- Who Has Affordable Auto Insurance for a Dodge Ram in Plano? (FAQ)
- Who Has Affordable Auto Insurance Rates for Single Moms in Plano? (FAQ)
- How to Avoid Common Accidents (State Farm)
- Insurance losses by make and model (Insurance Institute for Highway Safety)