Plano, TX Car Insurance
How much does car insurance cost in Plano?
Looking for car insurance in Plano? The average cost of a six-month policy is approximately $999 or $167 per month. Our 2023 data highlights Redpoint County Mutual as the most affordable car insurance company in Plano, with rates starting at just $597 for a six-month policy. On average, drivers in Texas pay around $993 every six months for car insurance. Comparatively, Plano's average rate is slightly higher than the national average of $880.
Surprisingly, 45% of our customers in Plano use our services because they were paying too much for car insurance. If you need assistance with your car insurance, keep reading to explore insights on determining a fair rate in Plano based on factors like credit score, coverage level, and more.
|Car Insurance in Plano vs. Texas||Avg. 6 Mo. Premium|
The cheapest car insurance companies in Plano
Redpoint County Mutual is the cheapest option for car insurance in Plano, coming in at $100 per month or $597 for a six-month policy.
GEICO is the cheapest option for car insurance in Plano, coming in at $114 per month or $685 for a six-month policy.
Third on our list is Germania Mutual Group. On average, a Germania Mutual Group policy in Plano costs $732 per six-month policy or $122 per month.
Are you paying too much for auto insurance?
Plano car insurance rates by company
Our 2023 data reveals Redpoint County Mutual as the reigning champion of economical car insurance providers in Plano. Their average monthly rate stands near $100, allowing policyholders to acquire a six-month policy for a mere $597. GEICO claims the runner-up position with a slightly higher monthly premium of $114 or a total of $685 for a six-month duration.
Learn more about top-rated car insurance companies by referring to The Zebra's Customer Satisfaction Survey.
Cheapest car insurance companies in Plano, TX
Dynamic auto insurance data methodology
Methodology: The auto insurance rates displayed above and throughout this page are dynamic, meaning the data will refresh when the most recent information is made available. Rates are based on a sample driver profile — a 30-year-old single male driver with a Honda Accord and full coverage. This profile was adjusted based on common pricing factors used by major car insurance companies, like age, coverage level, driving record and others.
Shop around for the best rates
The sole method to ascertain which insurance company presents the cheapest coverage tailored to your preferences entails conducting a meticulous comparison. Rest assured, our meticulous evaluation will handle the necessary groundwork on your behalf. Simply provide your ZIP code to instantly view the rates offered by Progressive, Allstate, USAA, State Farm, and other prominent insurers. Through this streamlined procedure, you can effortlessly identify the finest and most competitively priced car insurance available in Plano.
Average car insurance in Plano by rating factor
The cost of premiums, ascertained by car insurance companies, hinges on rating factors employed as the basis of evaluation. These factors encompass several components, such as age, credit score, driving history, and the type of car driven. Although the significance of individual rating factors may differ, all possess the capacity to influence the amount you pay.
As a result, both rating factors and the most advantageous car insurance company for your needs can undergo modifications. Consequently, it is prudent to periodically explore alternative providers in order to verify that you continue to secure the most favorable rates.
Q: I didn't have an accident — Why is my insurance going up?
A: The cost of your car insurance payments in Plano is significantly influenced by the year-end earnings, which reflect the revenue from premiums against the pay outs made to cover insured individuals' claims. It's important to note that even in the absence of any claims made, you could find yourself facing higher costs with a specific insurance company due to the heightened expenses associated with conducting business in Plano.
Auto insurance premiums by age in Plano
Let's begin by talking about one of the most important factors that insurance companies consider when determining rates: age. Teenagers have the highest accident rates compared to any other age group, which leads to higher premiums for them. In Plano, teen drivers pay on average $514 per month. This is 138% higher than rates paid by Plano drivers in their 20s. See the table below for the insurance companies that offer the cheapest rates for teenagers in Plano.
Cheapest car insurance companies for teen drivers in Plano, TX
|Age Bracket||Cheapest Companies||Avg. 6 Mo. Premium|
|20s||Redpoint County Mutual||$597|
|30s||Redpoint County Mutual||$647|
|40s||Redpoint County Mutual||$647|
|50s||Redpoint County Mutual||$647|
|60s||Redpoint County Mutual||$647|
|70s||Redpoint County Mutual||$647|
Auto insurance premiums for minimum coverage in Plano
The level of coverage you choose has a significant impact on the overall cost of your car insurance premium. Each state has specific requirements regarding the minimum coverage you must carry, and opting for this lower level usually means paying lower premiums. Interestingly, our data reveals that a considerable 30% of drivers in Plano have the minimum coverage level. While this option may save you money, it also exposes you to the risk of being underinsured.
On the other hand, "full coverage" insurance, which includes collision coverage and comprehensive coverage, comes with higher premiums but offers increased protection in case of an accident. Both of these coverages also come with a deductible, which is the amount you must pay out of pocket before your insurance coverage comes into effect.
Additionally, there are other optional coverages worth considering, such as roadside assistance or uninsured motorist coverage. Although opting for more coverage results in higher premiums, experts at The Zebra suggest taking advantage of these opportunities as they provide valuable protection for both you and your vehicle.
Q: Can I lower my car insurance coverage?
A: Possibly — if your vehicle is paid off.
Our data analysis indicates that the majority of drivers in Plano are owners of their vehicles. If you are not currently leasing or financing your vehicle, it would be prudent to assess whether it is appropriate for you to consider dropping comprehensive or collision coverage. We recommend determining the actual cash value of your vehicle using trusted sources such as Kelley Blue Book or another reputable resource. As a general rule of thumb, if the value of your vehicle is below $4,000, collision coverage is likely unnecessary. However, keep in mind that by eliminating these coverages, you will be responsible for any repair costs incurred out of your own pocket.
Cheapest car insurance companies for minimum coverage in Plano, TX
- Minimum: State liability coverage only
- Basic: State liability + collision and comprehensive (full) coverage
- Better: Better liability limits at 50/100/50. Full coverage included with towing and rental car benefits. This might include additional personal medical benefits and uninsured/underinsured motorist coverage.
- Best: Best liability limits at 100/300/50. Full coverage included with better towing and rental car benefits, better personal medical benefits and increased uninsured/underinsured coverage.
30% of our customers in Plano opt for the minimum level of coverage, but this doesn't mean it is the option for you. The best choice depends on your habits, peace of mind, budget, and personal preferences. If you're thinking of getting the minimum coverage to save money, remember that it may not be enough if the damages exceed your liability limits. In Texas, the liability limits are 30/60/25, which means it covers up to $30,000 per person for bodily injury, $60,000 per accident for bodily injury, and $25,000 for property damage. While this should work for most simple car accidents, it may not be sufficient for serious injuries or accidents involving multiple vehicles.
Learn more about insurance laws in Texas.
Plano car insurance rates by credit score
While several states have made the decision to exclude credit scores as a factor in rating policies, Texas continues to follow the practice of incorporating this numeric value when assessing policies. The credit score has a long-standing history of providing insights into the likelihood of drivers filing claims—those with lower credit scores tend to engage in riskier driving behaviors, face coverage gaps, and file claims more frequently. Consequently, insurance companies view a lower credit score as an increased risk to insure.
Interestingly, Plano drivers with poor credit (300-579) encounter a substantial 109% increase in insurance costs compared to drivers with excellent credit (800-850). Our data collection indicates that a significant portion of drivers in Plano have an "excellent (720+)" credit score. In the year 2023, Germania Mutual Group emerges as the most affordable option for Plano drivers falling within this credit category.
Cheapest car insurance companies for bad credit in Plano, TX
Auto insurance rates with an at-fault accident
In terms of insurance claims, collisions or at-fault accidents rank as the most frequently encountered types. In Plano, an at-fault accident can lead to a monthly rate increase ranging from $41 to $102. Redpoint County Mutual stands as the most cost-effective insurance company in Plano following an at-fault accident.
The most effective way to maintain lower auto insurance premiums is to strive for accident-free driving and to minimize citations to the best of your ability, regardless of your geographical location. The duration of the impact on your premium depends on the type of accident or ticket, typically lasting for a span of three to five years. More severe charges such as DUIs and DWIs can have a prolonged impact on your driving record. Speeding citations, reckless driving charges, and accidents all contribute significantly to the considerable increase in premiums.
Cheapest car insurance companies after an at-fault accident in Plano, TX
Plano car insurance rates by violation
Below you can see how different violations and claims will increase your rate in Plano.
Car insurance rate increases after violations and citations in Plano, TX
|Accident/Violation||Avg. 6 Mo. Premium||% Rate Increase||$ Rate Increase|
|One Med/PIP claim||$1,008||1%||$9|
|One comp claim||$1,062||6%||$63|
|Failure to show documents||$1,069||7%||$70|
|Driving with expired registration||$1,078||8%||$79|
|Two Med/PIP claims||$1,080||8%||$81|
|Failure to wear a seat belt||$1,084||9%||$85|
|Driving without lights||$1,085||9%||$86|
|Child safety restraint||$1,092||9%||$92|
|Texting while driving||$1,111||11%||$111|
|Cell phone violation||$1,111||11%||$111|
|Speeding 16 - 20 MPH over limit||$1,113||11%||$114|
|Speeding 11 - 15 MPH over limit||$1,113||11%||$114|
|Speeding 6 - 10 MPH over limit||$1,113||11%||$114|
|Driving too slowly||$1,118||12%||$118|
|Speeding in school zone||$1,118||12%||$118|
|In 65 MPH zone||$1,120||12%||$121|
|Failure to stop at a red light||$1,121||12%||$122|
|Two comp claims||$1,122||12%||$123|
|Speeding 21 - 25 MPH over limit||$1,125||13%||$126|
|Wrong way/wrong lane||$1,127||13%||$128|
|Failure to yield||$1,129||13%||$130|
|Following too closely||$1,131||13%||$132|
|Passing school bus||$1,137||14%||$137|
|Operating a vehicle without permission||$1,145||15%||$145|
|At-fault accident - less than $1000||$1,246||25%||$246|
|Driving with a suspended license||$1,416||42%||$417|
|Leaving scene of an accident/hit and run||$1,470||47%||$471|
|At-fault accident - $1000-$2000||$1,602||60%||$602|
|At-fault accident - greater than $2000||$1,608||61%||$609|
|Refusal to submit to a chemical test||$1,673||67%||$674|
Why is car insurance in Plano so expensive?
Car insurance costs in Plano are very similar to the average rate in the state of Texas, but marginally higher than the national average. Several factors contribute to this circumstance: notably, Plano is a close suburb of Dallas— one of the state's most populous and metropolitan cities. Car insurance rates in Texas tend to be higher due to weather events the state experiences.
Alongside individual rating factors, location-specific elements significantly influence the increased cost of car insurance in Plano, regardless of an individual's driving profile.
Over the past few years, numerous cities have witnessed an escalation in residents' cost of living, leading to a corresponding rise in operational expenses for auto insurance companies. Plano is no exception as its status as a commuter city to Dallas cements a higher cost of living than a rural town. Consequently, these increased costs are transferred to consumers through higher car insurance rates.
Your car insurance rates are significantly influenced by your address, extending beyond just your city and state. In Plano, various ZIP codes exist, some of which have a higher susceptibility to crime and theft compared to others. Additionally, certain areas have a greater concentration of uninsured drivers. Generally, drivers residing in high-crime neighborhoods tend to face higher premiums compared to those in safer areas. The most expensive and most affordable Plano ZIP codes for car insurance rates are provided below.
Expensive Plano ZIP codes: 75075, 75094, 75093
Cheap Plano ZIP codes: 75023, 75024, 75025
Texas experiences a variety of natural disasters throughout the state. Hurricanes and hail events are most prominent, with Texas ranking as the number one state in the country for number of hail events. Hail causes significant damage to vehicles, forcing insurance companies to drive up premiums to cover the cost of claims.
Comprehensive coverage encompasses protection for weather-related damages. Thus, if you have concerns about potential severe weather-related damage in Plano, we recommend securing comprehensive coverage.
Bundling insurance policies in Plano
The cost of car insurance tends to increase on an annual basis, but there are still effective ways to save money. One such method is bundling two or more insurance products with a single provider, which often leads to a multi-policy discount. Most insurance companies offer this discount, so even if you're considering quotes from different providers, it's important to consider the bundling option.
The most popular combination for bundling is homeowners and auto insurance, potentially resulting in savings of 10% or more on combined premiums. If you currently have separate policies for your home and car, it is worthwhile to explore the possibility of bundling and assess potential savings. Gain further insights into the advantages of bundling home and car insurance.
Cheapest car insurance companies for bundling home and auto insurance in Plano, TX
Despite certain rating factors being beyond your control, there are measures you can implement to present a more appealing driving profile to insurance providers. The first step is to actively shop around and compare auto insurance quotes from numerous companies, ensuring that you secure the most favorable rate for your coverage and service requirements. It is wise to repeat this process at each renewal period, particularly if personal factors such as age, credit score, and location have experienced changes. It is essential to acknowledge that certain companies naturally maintain higher price points than others, so do not hesitate to consider switching providers.
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Frequently asked questions
How much is car insurance in Plano?
In Plano, the average cost of a six-month auto insurance policy amounts to $999, equivalent to $167 per month. This exceeds both the national and Texas state averages, making it comparatively pricier.
What is the cheapest car insurance in Plano?
Among the insurance carriers in Plano, Redpoint Country Mutual offers the most affordable rates, averaging at $597 for a six-month policy.
How much is car insurance in Plano for teenagers?
Teenagers residing in Plano face considerably high insurance expenses, with six-month policies reaching over $3085, or approximately $514 per month. Due to the high costs associated with teen drivers having their own policies, we highly recommend adding them to their parents' policies as a viable solution to significantly reduce expenses.
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About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.