It would sure be easy if we could simply give you the name of the one best company that has the cheapest rates in Texas. That is not the case, however, as there are a lot of unknown factors like how well you maintain your credit, how far you drive each year, how high your deductibles should be, and if you own or rent your home. The information below will cover the different ways you can keep rates low and hopefully give you enough understanding to have a good start in finding the cheapest car insurance in Texas.
Finding reliable, low-cost auto insurance is challenging, and finding out which companies have the cheapest car insurance rates for high mileage drivers requires even more shopping around.
Each auto insurer has their own formula for establishing rates, so we’ll go over the car insurance companies with the most affordable rates in Fort Worth. It’s a good idea to know that Texas car insurance rates are calculated based on many things that may substantially change the policy price. That is why consumers need to take the time to take the time to shop around to find the cheapest auto insurance quotes for high mileage drivers. Prices are calculated by many things and change frequently, so the best price the last time you shopped around may now be priced much higher than other options.
Cheapest Insurance Rates in Texas
Travelers has some of the lowest car insurance rates in Fort Worth at around $1,052 annually. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the cut as some of the lowest-priced Fort Worth, TX car insurance companies.
In the rate table above, if you currently buy coverage from USAA and switched to Travelers, you may see a yearly price reduction of about $43. Customers with Texas Farm Bureau could save as much as $183 a year, and Germania Mutual policyholders might realize rate reductions of up to $204 a year.
Remember that these rates are averages for all types of insureds and vehicles and and are not figured with a specific zip code for high mileage drivers. So the insurer that fits your needs best may not even be in the list above. That affirms the importance of why you need to compare rates from multiple companies using your own specific driver information and vehicle.
For high mileage drivers, one of the largest components that are used to help calculate insurance cost is where you choose to live in Fort Worth. Areas with increased crime or more people tend to have more expensive car insurance rates, whereas areas with lower vehicle theft rates and fewer weather claims have the gratification of cheaper auto insurance rates.
The information below rates the most expensive cities in Texas for high mileage drivers in which to buy car insurance. Fort Worth shows up at #18 with an annual cost of $1,621 for the average policyholder, which is around $135 each month.
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Prices are estimated as the specific garaging location can decrease or increase price quotes substantially.
Liability only or full coverage
Reducing the cost of car insurance is probably important to the majority of drivers, and one easy way to buy cheap insurance for high mileage drivers is to not insure for full coverage. The diagram below visualizes the comparison of insurance costs when comparing full coverage to liability only. The prices are based on no violations or accidents, $500 deductibles, single marital status, and no additional discounts are factored in.
Averaged out for all age groups, physical damage coverage costs an additional $1,963 per year more than just buying liability only. At some point, every insured wonders if buying full coverage is a waste of money. There is no clear-cut formula to stop paying for physical damage coverage on your policy, but there is a general guideline. If the annual cost of coverage is more than around 10% of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
Impact of citations and accidents on Fort Worth insurance rates
The common sense way to maintain the cheapest car insurance rates in Fort Worth for high mileage drivers is to drive safe and not get tickets or have accidents. The diagram below demonstrates how traffic citations and fender-benders can affect auto insurance rates for different age categories. The data is based on a single female driver, comp and collision included, $250 deductibles, and no discounts are taken into consideration.
In the previous chart, the average cost of an auto insurance policy in Fort Worth per year with no accidents and a clean driving record is $2,535. Receive two speeding tickets and the average cost swells to $3,405, an increase of $870 each year. Then throw in two accidents along with the two speeding tickets and the yearly cost of car insurance for high mileage drivers jumps again to an average of $6,645. That’s an increase of $4,110, or $343 per month, just for not maintaining a clean driving record!
Discount Fort Worth insurance
Insurance companies that offer coverage for high mileage drivers may also provide premium discounts that could potentially reduce rates by as much as 35% if you meet eligibility requirements. Companies and a partial list of their discounts are shown below.
- American Family policyholders can earn discounts including Steer into Savings, good student, multi-vehicle, mySafetyValet, accident-free, good driver, and bundled insurance.
- State Farm discounts include good driver, accident-free, Drive Safe & Save, defensive driving training, good student, passive restraint, and driver’s education.
- 21st Century offers premium reductions for anti-lock brakes, student driver, theft prevention, 55 and older, and homeowners.
- Travelers includes discounts for new car, hybrid/electric vehicle, home ownership, student away at school, multi-policy, payment discounts, and multi-car.
- GEICO has discounts for good student, multi-vehicle, federal employee, emergency military deployment, and multi-policy.
The information below illustrates the comparison of insurance rates with and without discounts applied to the rates. The data is based on a male driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with anti-theft, marriage, defensive driving course, multiple vehicle, accident-free, and homeowner discounts applied. In this example, the average amount saved each year on car insurance for high mileage drivers is 28% or $745.