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

In Plano, Texas, Texas Farm Bureau offers the lowest rates for full and minimum coverage car insurance. Nationwide is the most affordable for families with teens. Chubb stands out for customer service and value and is the best overall. The ideal insurer for you hinges on personal preferences and coverage needs.

MoneyGeek found that Texas Farm Bureau offers the cheapest car insurance with minimum coverage in Plano. Here are the annual premiums of the two most cost-effective providers:

• Texas Farm Bureau: $382 per year
• State Farm: $490 per year

Dairyland has the highest price for the minimum coverage in Plano, with an average annual premium of $2,326. That's a $1,944 difference compared to Texas Farm Bureau, highlighting the importance of comparing rates to find the best deal on car insurance.

In every city in Texas, car insurance is ruled by state-mandated minimums. These are the required limits:

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

These figures represent baseline security. If you're liable for an accident, your insurer will cover up to $30,000 for an individual's injuries and up to $60,000 for injuries in one accident. But if the cost for a single person's injuries exceeds $30,000, the remaining balance would come from your pocket.

MoneyGeek found that Texas Farm Bureau offers the cheapest full coverage car insurance in Plano.

• Texas Farm Bureau: $789 per year
• State Farm: $1008 per year

Dairyland has the most costly full coverage policy in Plano, with an average annual premium of $4,442 — a substantial $3,653 difference from the most affordable option. This rate gap highlights the importance of shopping around, as full coverage policies, which include comprehensive and collision insurance, cost more than minimum coverage due to the broader protection they offer.

The comprehensive nature of full coverage policies extends beyond increased liability limits and incorporates comprehensive and collision insurance.

• Collision Insurance: This provision covers the repair of your automobile if it collides with another vehicle or object, such as a tree or light pole. It also covers rollover accidents and pothole damage.

• Comprehensive Insurance: This form of protection covers the costs of damages to your car from non-collision-related incidents, such as theft, vandalism, fires, natural disasters or being hit by an animal like a deer.

Choosing full coverage insurance is prudent for safeguarding the value of a new automobile. Conversely, for those owning older models, the added coverage might not justify the additional expense, which can reach into the hundreds. Gauging how much car insurance you need involves weighing higher coverage against increased premiums and ensuring adequate protection to avoid being underinsured.

MoneyGeek found that the cheapest option for Plano drivers with a poor driving record seeking full coverage insurance varies based on the infraction. The most affordable providers for each type of offense are:

• Speeding Ticket: Texas Farm Bureau ($789 per year)
• At-Fault Accident: State Farm ($1,262 per year)
• DUI: Progressive ($1,554 per year)

Dairyland is the most expensive option for all three infractions, at around $5,537 per year for speeding, $6,280 for an at-fault accident and $4,494 for a DUI. The $765 rate discrepancy between the cheapest company after a speeding ticket and after a DUI is noteworthy, demonstrating the effect that the gravity of a violation can have on car insurance premiums.

In Plano and similar cities, your driving record plays a significant role in determining insurance premiums. Serious offenses lead to higher rates to account for increased risk. For example, drivers with a DUI face an average annual rate of $3,676, while those with a speeding ticket incur a lower cost of around $2,959. Individuals with driving infractions should diligently compare insurance quotes to secure financial savings, as premiums can vary considerably based on your driving history.

MoneyGeek found that Nationwide offers the most affordable option for families seeking the cheapest car insurance for teens in Plano. Here are the most affordable providers in Plano:

• Nationwide: $1,620 per year for female teens and $1,847 per year for male teens
• State Farm: $1,840 per year for female teens and $2,225 per year for male teens

These rates represent the cost of a family policy that includes two parents and a teen driver. Allstate is the most expensive company for insuring teen drivers in Plano, with an average annual premium of $6,228 for female teens — more than three times Nationwide's quote. This stark contrast underscores the importance of comparing quotes, as it can lead to significant savings for families when teen drivers are considered higher risk and more costly to insure.

In Plano and other cities across the U.S., teen drivers can expect significantly higher insurance rates when purchasing an individual car insurance policy. A teen's individual annual premium costs around $7,041, compared to $3,581 if added to a family's plan. The difference in rates reflects the higher risks associated with teenage drivers, including inexperience and a higher probability of accidents. Due to these risks, insurers often hesitate to offer individual policies to teens, making a joint family policy more cost-effective and accessible.

MoneyGeek found that Texas Farm Bureau offers the cheapest car insurance for military backgrounds in Plano. These providers can help you secure your vehicle affordably:

• Texas Farm Bureau: $789 per year
• State Farm: $1,008 per year

Although USAA is not the cheapest company, ranking third with an average annual premium of $1,054, it is also a competitive option. It caters to the unique needs of active duty service members, making it a top consideration for military personnel.

Securing the best car insurance rates in Plano can equate to notable savings. However, this process traditionally requires a commitment of over 15 minutes per insurer, and it takes more than an hour when evaluating three or more companies.

MoneyGeek's car insurance calculator streamlines this process, instantly pinpointing the most impactful factors influencing Plano’s insurance costs. You'll swiftly receive tailored rate estimates by inputting your age, driving history, credit score and coverage preferences, balancing thoroughness with time efficiency.

Choosing the right auto insurance is a personalized decision, with factors like service quality, cost, coverage options and other variables playing pivotal roles. MoneyGeek has extensively researched and evaluated different insurance providers in Plano using distinct scoring systems for each category.

• Best overall: Chubb (MoneyGeek score 91 out of 100)
• Best for service: Chubb (MoneyGeek score 92 out of 100)
• Best cheap: Chubb (MoneyGeek score 89 out of 100)

Chubb is the winner across all three categories, delivering exceptional value, top-notch service and affordability without compromising service quality. For Plano residents, Chubb is the best-rounded choice, offering a blend of dependability and cost-effectiveness.

MoneyGeek found that Chubb is the best option for car insurance in Plano, offering an exceptional full coverage policy. The top two providers in Plano are as follows:

• Chubb: MoneyGeek score of 91 out of 100 ($1,740 per year)
• State Farm: MoneyGeek score of 74 out of 100 ($1,008 per year)

Chubb distinguishes itself primarily through its superior customer satisfaction and claims handling process, as indicated by its high scores in these categories. Drivers in Plano looking for the best car insurance can expect a blend of excellent service and comprehensive coverage with Chubb.

MoneyGeek found that Chubb is the best option in Plano for car insurance in terms of customer service. This distinction comes from its impressive collective performance in general satisfaction, claims handling and coverage options.

• Chubb: MoneyGeek score of 92 out of 100 ($1,740 per year)
• Foremost: MoneyGeek score of 77 out of 100 ($2,507 per year)

Chubb excels in claims satisfaction, a vital factor for customers choosing an insurance provider. Its score reflects a balance of service quality, comprehensive coverage and financial stability.

MoneyGeek found that Chubb offers the best option for affordable and reliable car insurance in Plano, taking into account cost, customer satisfaction and claims handling. The top performers with their respective MoneyGeek scores and annual premiums are:

• Chubb: MoneyGeek score of 89 out of 100 ($873 per year)
• Mercury: MoneyGeek score of 78 out of 100 ($502 per year)

Chubb's highest rank is primarily due to its exceptional customer satisfaction and claims scores. Its high stability score also indicates a strong financial health factor. While it may not be the least expensive, Chubb's score reflects the value consumers get for a minimum coverage policy.

In Plano, Texas, the average car insurance premium is $1,819. This premium is $37 more than the average car insurance cost in Texas, which is $1,782. In comparison, the Texas average is only $1 more than the national average of $1,781.

Car insurance premiums are based on various factors, including the driver's age, vehicle type, driving record and credit history. However, location plays an essential role because it encapsulates elements such as traffic density, risk of theft and the likelihood of accidents — all contributing to potential claims. According to MoneyGeek's data, Houston has the most expensive car insurance premium at around $2,177 per year. On the other hand, Wichita Falls has the cheapest premium at $1,414, which is $763 less than Houston's rate. These figures illustrate how insurance rates can differ within a single state. Less populous, more rural areas may experience even lower premiums.