Richardson Car Insurance

The Zebra
May 30, 2018

Car Insurance in Richardson

Richardson premiums exceed the state average by 9%, which is why the city is known for its costly premiums, so it is critical to cut costs while insuring a vehicle in Richardson. Why don't we take a look at how to save on car insurance in Richardson?

  • City Average: $1,980
  • State Average: $1,810
  • National Average: $1,427

Richardson Car Insurance by Credit Rating

Individuals with Exceptional credit (800-850) normally pay 52% less every year on premiums than those with Very Poor credit (300-579). Drivers will see the largest percent decrease in premiums when they raise their credit from Very Good (740-799) to Exceptional (800-850). That change can save them 20% per year.

  • Very Poor: $3,416
  • Fair: $2,900
  • Good: $2,417
  • Very Good: $2,046
  • Exceptional: $1,632

Richardson Car Insurance by Gender and Marital Status

In Richardson, both marital status and gender have an effect on your car insurance premiums. However, the amount by which men's and women's car insurance premiums vary is trivial. Believe it or not, marital status has a substantial impact on premiums. Being married, as opposed to single, can save you an average of 10% per year. Rates for those who are widowed are also way cheaper than rates for those who are single.

  • Female: $1,965
  • Male: $1,980
  • Single: $1,980
  • Married: $1,786
  • Divorced: $1,980
  • Widowed: $1,783

Richardson Car Insurance by Age

Car insurance premiums are highest for teenage drivers, with average payments of $6,468 per year. At $1,688, drivers in their 50s have the smallest insurance premiums among any age group. However, those in their 60s ($1,768) have premiums that aren't much higher. The biggest decline in premiums for Richardson drivers happens when they hit their 20s. Once out of the teenage age range, people save, on average, $4,070 each year. The first time drivers can anticipate their age to trigger a rise in rates is when they turn 60.

  • Teenagers: $6,468
  • 20s: $2,398
  • 30s: $1,950
  • 40s: $1,890
  • 50s: $1,688
  • 60s: $1,768
  • 70s: $2,207

Richardson Car Insurance by Accident or Violation History

Do you know the impact an accident or violation can have on your prices on car insurance? Typically, a DUI in Richardson will cost you 41% more in car insurance premiums versus the city average ($1,980). Reckless driving will drive your rates up as well, with typical rates of $2,722. That is 37% higher than the city average. You can expect your annual car insurance payments to grow by 50% if you are found at-fault in an accident in Richardson.

  • DUI: $2,787
  • Reckless Driving: $2,722
  • At-fault Accident (damages less than $1000): $2,969
  • At-fault Accident (damages greater than $2000): $2,969
  • Speeding Ticket (16-20 mph over speed limit): $2,061

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