Cheapest and Best Car Insurance in McKinney, TX (2024)

In McKinney, finding the most cost-effective insurance hinges on your coverage and driver profile. Texas Farm Bureau offers the most affordable full coverage, while Nationwide is the cheapest for families with teens, different from the minimum coverage leader. The top-rated company for customer service and overall best value for the balance between affordability and service is Chubb. Identifying the best provider for your personal preferences and coverage requirements is essential.

MoneyGeek found that Texas Farm Bureau offers the cheapest car insurance in McKinney, ensuring great savings for drivers seeking minimum coverage.

• Texas Farm Bureau: $410 per year
• State Farm: $473 per year

Dairyland has the most expensive minimum coverage policy in McKinney at $2,091 per year. This rate is $1,681 more than Texas Farm Bank, the cheapest option, highlighting the significant importance of comparing car insurance rates to ensure you're not overpaying.

For Texans from Dallas to McKinney, state law dictates the minimum car insurance required. Here's what you need:

• $30,000 bodily injury per person
  
• $60,000 bodily injury per accident
  
• $25,000 property damage liability per accident
  

Consider this: if you hold the minimum coverage and are at fault in an accident, insurance will cover up to $30,000 for an individual's injuries and up to $60,000 total for injuries per accident. But if costs exceed these limits, you'll be reaching into your own pocket to make up the difference.

MoneyGeek found that Texas Farm Bureau offers the cheapest full coverage car insurance in McKinney, with rates that are hard to beat. Here's a quick glance at the top two most affordable providers:

• Texas Farm Bureau: $848 per year
• State Farm: $990 per year

Dairyland has the most expensive full coverage policy in McKinney, with an annual rate of $4,124, illustrating the significance of comparing quotes since full coverage is more costly due to its comprehensive protection against a variety of road incidents.

The MoneyGeek prototype policy for comprehensive coverage in McKinney enhances your liability limits well above the state's minimum requirements. It elevates them to $100,000 for bodily injury per individual, $300,000 for bodily injury per mishap and $100,000 for property damage per event. It's commonly referred to as a 100/300/100 plan.

A full coverage policy comes with the added advantage of two key components: comprehensive and collision coverage.

• Collision Insurance: This facet of your coverage takes responsibility for mending your car if it's damaged due to a crash, whether it collides with another car or an object like a tree or light pole. It also covers rollover accidents and pothole damage.

• Comprehensive Insurance: It handles repairs to your vehicle for nearly everything else that isn't collision-related, such as theft, vandalism, or natural disasters and being struck by an animal like a deer.

Securing full coverage insurance is especially prudent for new car owners to protect your auto investment against unpredictable financial pitfalls. Conversely, if your vehicle is older, weighing the cost of additional coverage against its value is critical.

Making an informed decision about how much car insurance you need is a delicate balance: Opting for higher coverage could mean steeper premiums, but going with less could leave you vulnerable and underinsured. If you're leasing or have a car loan, you are typically required to carry full coverage insurance

MoneyGeek found that the Texas Farm Bureau is the cheapest companies for drivers with a poor driving record in McKinney, offering lower rates for drivers with speeding tickets.

• Speeding Ticket: Texas Farm Bureau ($848 per year)
• At-fault accident: State Farm ($1,237 per year)
• DUI: Progressive ($1,522 per year)

Conversely, Dairyland tends to have the most expensive rates for drivers with infractions. The severity of an offense can impact insurance rates.

Insurance rates in McKinney and other cities often increase with the severity of driving offenses because insurers view higher-risk drivers as more likely to file claims. For instance, individuals with a speeding ticket face an average annual premium of $2,847, whereas those with a DUI offense may see rates around $3,552. Consequently, drivers with any offenses on their record can benefit significantly from comparing insurance rates to find the most forgiving policies, potentially saving them hundreds of dollars annually.

MoneyGeek found that Nationwide offers the most affordable full coverage car insurance for teens in McKinney.

• Nationwide: $1,567 per year for female teens and $1,786 per year for male teens
• State Farm: $1,805 per year for female teens and $2,182 per year for male teens

These competitive rates for Nationwide and State Farm underscore the financial benefit of comparing insurance policies, especially in households adding a teen driver. Allstate emerges as the priciest option in McKinney, with the annual premium for a female teen reaching $6,242. This substantial rate difference, amounting to $4,675 compared to Nationwide, highlights the critical importance of shopping around to find the best deal for families with higher-risk teen drivers on their policy.

In McKinney and similar locales, the disparity in car insurance premiums for teenagers is substantial. On average, an individual policy costs a staggering $6,945 annually, whereas teenagers included in a family plan pay an average of $3,550 — a difference of $3,395. The higher rates for individual teen policies reflect the elevated risk insurers associate with young, inexperienced drivers. Moreover, obtaining approval for these policies can be difficult for teens, as providers seek to mitigate potential claims by encouraging family plans that spread out the risk.

MoneyGeek found that Texas Farm Bureau is the cheapest option in McKinney for cheapest car insurance for military backgrounds. Here are the two most affordable providers:

• Texas Farm Bureau: $848 per year
• State Farm: $990 per year

Although USAA is not the cheapest in this dataset with an annual premium of $1,054, it is important to recognize that USAA specializes in servicing active duty military members, offering tailored coverage that may be worth the slightly higher rates for many service members in McKinney.

You can use MoneyGeek's car insurance calculator to get a quote. Simply input critical details such as age, driving history, credit score and desired coverage, and promptly receive a tailored rate estimate, thereby optimizing your time and savings on car insurance.

Finding the best auto insurance for you depends on your priorities around service, cost, coverage, and various other factors. MoneyGeek uses distinct scoring systems to assess providers in different categories, recognizing that different drivers value different aspects of insurance.

• Best overall: Chubb (MoneyGeek score 91 out of 100)
• Best for service: Chubb (MoneyGeek score 92 out of 100)
• Best cheap: Chubb (MoneyGeek score 90 out of 100)

Chubb emerges as the unequivocal leader in McKinney, excelling for overall value, customer service, and affordability. This provider is particularly suitable for those seeking well-rounded excellence in their car insurance, delivering consistently across multiple dimensions without compromising on quality or experience. Customers can expect to benefit from top-tier service backed by strong performance in claim handling and stability.

MoneyGeek found that Chubb is the leading provider of the best car insurance in McKinney. Recognized for their exceptional service and competitive rates, the top two companies are:

• Chubb: MoneyGeek score of 91 out of 100 ($1,658 per year)
• State Farm: MoneyGeek score of 75 out of 100 ($990 per year)

Chubb is committed to providing comprehensive coverage and reliable support to policyholders.

MoneyGeek found that Chubb is the best option in McKinney for car insurance based on customer service. This assessment prioritizes general satisfaction, claims handling, and the breadth of coverages provided, setting aside cost considerations.

• Chubb: MoneyGeek score of 92 out of 100 ($1,658 per year)
• Foremost: MoneyGeek score of 77 out of 100 ($2,416 per year)

Chubb stands out with the highest marks in claims satisfaction and stability within McKinney, which are substantial factors contributing to its stellar MoneyGeek score. Customers looking for reliable service and comprehensive coverage should consider Chubb when seeking an insurer.

MoneyGeek found that Chubb offers the best cheap car insurance in McKinney, balancing an impressive blend of affordability and customer satisfaction. Below are the two top providers based on their stellar performance:

• Chubb: MoneyGeek score of 90 out of 100 ($826 per year)
• Mercury: MoneyGeek score of 78 out of 100 ($489 per year)

Chubb stands out primarily due to its exceptional claims handling and customer satisfaction scores, which play a significant role in its overall MoneyGeek score.

In McKinney, Texas, the average cost of car insurance per year stands at $1,745. This figure is just slightly lower than the average car insurance cost in Texas, which is $1,782 annually. Comparatively, Texas's average is nearly on par with the national average, which is $1,781, indicating only a $1 difference in favor of the national rate.

Car insurance premiums are determined by various factors, with location playing a significant role. The geographic area where a vehicle is insured affects rates due to differences in traffic density, the likelihood of accidents and local crime rates.

According to MoneyGeek's analysis, in Texas, the city with the most expensive average insurance premium is Houston, costing $2,177 annually. Contrastingly, Wichita Falls offers the cheapest premium at just $1,414. This substantial $763 difference illustrates the impact location has on insurance costs. Furthermore, in non-urban areas with lower traffic density, rates could potentially be even more affordable.