The easiest way to get cheaper Toyota Prius V insurance in Plano is to start doing an annual price comparison from insurers in Texas.
- First, get an understanding of the different coverages in a policy and the things you can control to prevent expensive coverage. Many risk factors that cause high rates like at-fault accidents, speeding tickets, and poor credit history can be eliminated by making minor changes in your lifestyle.
- Second, request price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can give quotes from one company like Progressive and State Farm, while independent agencies can provide price quotes from multiple insurance companies.
- Third, compare the new quotes to your current policy premium to see if cheaper Prius V coverage is available. If you can save some money and switch companies, verify that coverage does not lapse between policies.
An essential thing to point out is to compare similar deductibles and liability limits on each price quote and and to compare as many different insurance providers as possible. Doing this ensures a fair rate comparison and a thorough selection of prices.
Amazingly, a recent NerdWallet.com study showed that nearly 70% of Texas drivers have purchased from the same company for at least four years, and almost half have never even compared rates from other companies. With the average insurance premium being $1,847, American drivers could cut their rates by up to $860 a year just by shopping around, but most undervalue the benefits if they just switched companies.
Plano Insurance Premiums are Influenced by These Factors
The best way to find cheaper auto insurance is to take a look at some of the elements that help determine your auto insurance rates. When consumers understand what determines base rates, this enables you to make decisions that can earn you much lower annual insurance costs. Many different elements are considered when pricing auto insurance. A few of the factors are predictable such as your driving history, although some other factors are less obvious such as your credit history or how safe your car is.
Defend yourself with liability insurance – Your auto insurance policy’s liability coverage kicks in in the event that you are ruled to be at fault for causing personal injury or damage in an accident. It provides for a legal defense up to the limits shown on your policy. It is affordable coverage when compared to the cost of physical damage coverage, so do not cut corners here.
Premiums drop with age – Older drivers are proven to be safer behind the wheel, file fewer claims, and tend to be get fewer driving tickets. Young drivers are statistically proven to be careless and easily distracted behind the wheel and because of this, their auto insurance rates are much higher.
Good credit saves on auto insurance – An insured’s credit rating factor in your rate calculation. If your credit can be improved, you could pay less to insure your Toyota Prius V by improving your rating. Insureds that have high credit ratings tend to be less risk to insure than drivers with lower credit ratings.
More than one policy can earn a discount – Most auto insurance companies will award better rates to people who consolidate policies with them in the form of a multi-policy discount. Even if you’re getting this discount consumers should still shop around to confirm you are receiving the best rates possible.
Accidents will cost you – How you drive impacts your car insurance rates tremendously. Having a single citation may cause rates to rise substantially. Attentive drivers tend to pay less for car insurance as compared to those with violations. People who have dangerous violations such as DWI, reckless driving or hit and run convictions may find they need to complete a SR-22 with their state motor vehicle department in order to drive a vehicle legally.
If you don’t need it don’t buy it – Policies have extra coverages that you can get tricked into buying if you don’t pay attention. Insurance for personal injury protection, towing coverage, and extra equipment coverage may not be needed and are just wasting money. The coverages may be enticing initially, but if you have no use for them eliminate them to save money.
More people means more accidents – Residing in less populated areas of the country is a good thing when trying to find low car insurance rates. Urban drivers tend to have more road rage incidents and more time behind the wheel. Fewer drivers translates into fewer accident claims and lower theft and vandalism rates.
Toyota Prius V claim probability – Car insurance companies factor in historical loss data in order to profitably underwrite each model. Models that are shown to have higher losses will be charged more to insure. The next table shows the insurance loss data used by companies for Toyota Prius V vehicles.
For each coverage type, the loss probability for all vehicles averaged together equals 100. Numbers that are below 100 indicate better than average losses, while values that are above 100 show a trend for more claims or an increased likelihood of larger losses.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Toyota Prius V Hybrid | 94 | 86 | 88 | 88 | 94 | 97 |
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Plano car insurance companies ranked
Buying coverage from the best car insurance company is difficult considering how many companies there are in Texas. The ranking data in the lists below may help you pick which auto insurance companies to look at comparing rates from.
| 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 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Be persistent to save money
As you shop your coverage around, you should never skimp on critical coverages to save a buck or two. There have been many situations where drivers have reduced liability limits or collision coverage only to find out that their decision to reduce coverage ended up costing them more. Your aim should be to buy the best coverage you can find at the best cost.
Insureds leave their current company for many reasons like policy non-renewal, denial of a claim, not issuing a premium refund or even questionable increases in premium. Regardless of your reason, finding the right insurance provider is pretty easy and you might even save some money in the process.
Throughout this article, we presented a lot of information how to reduce Toyota Prius V insurance rates online in Plano. The most important thing to understand is the more price quotes you have, the higher the chance of saving money. You may even find the lowest priced insurance comes from an unexpected company.
More tips and info about insurance can be found at these sites:
- Choosing an Insurance Company (Insurance Information Institute)
- What Insurance is Cheapest for Government Employees in Plano? (FAQ)
- What Car Insurance is Cheapest for Business Use in Plano? (FAQ)
- How Much are Plano Car Insurance Quotes for a 20 Year Old Male? (FAQ)
- Driving in Bad Weather (Insurance Information Institute)
- What does Personal Injury Protection (PIP) Cover? (Allstate)