You have surely seen all the ads from insurers like GEICO and Progressive guaranteeing huge savings. So you just need to select the one with the best jingle, right?
Regrettably, it’s not quite that easy, as there are a lot of unknown factors like your gender, if you want full coverage included, if you have any driving citations, and the area where you live, that all impact the price you pay. We will try to cover the things that influence insurance rates and should give you a good start to your coverage search.
The car, truck, or SUV on the policy is a large consideration when shopping for cheaper car insurance for real estate agents. Vehicles with reasonable performance levels, a great safety record, or a track record of few liability claims will cost quite a bit less to insure than fast, unsafe models.
The list below estimates insurance prices for some of the most affordable automobiles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda Accord EX-L 4-Dr Sedan||$1,077|
|Volkswagen Jetta S 2.5 Station Wagon||$1,084|
|Ford Explorer XLT 2WD||$1,111|
|Honda CR-V EX-L 2WD||$1,149|
|Ford Edge SE AWD||$1,151|
|Chevrolet Malibu Hybrid||$1,174|
|Chevrolet Equinox LT 2WD||$1,179|
|Ford Escape Limited 4WD||$1,183|
|Toyota Tacoma Double Cab 4WD||$1,196|
|Jeep Wrangler Sahara 4WD 2-Dr||$1,214|
|Dodge Grand Caravan CV||$1,222|
|Nissan Rogue SL 2WD||$1,257|
|Toyota RAV4 Limited 2WD||$1,286|
|Honda Odyssey EX W/Rear Entertainment||$1,297|
|Hyundai Sonata Limited 4-Dr Sedan||$1,342|
|Toyota Camry Hybrid||$1,350|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,356|
|Chevrolet Impala LTZ||$1,365|
|Toyota Corolla LE||$1,356|
|Toyota Camry SE||$1,365|
|Ford F-150 Lariat Crew Cab 4WD||$1,356|
|Jeep Grand Cherokee SRT-8 4WD||$1,380|
|Start a Quote Go|
Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Information does not factor in specific zip code location which can decrease or increase insurance rates noticeably.
Based upon these rates, vehicles like the Honda Accord, Volkswagen Jetta, and Ford Explorer are the most affordable vehicles to insure for realtors.
Determining which companies have the most affordable auto insurance rates for real estate agents will involve a little more effort than just quoting one company’s rates. Each auto insurance company uses a different method to determine premium rates, so let’s examine the most affordable auto insurance companies in Fort Worth.
It’s important that readers know that Fort Worth, TX auto insurance rates are based on many factors which can substantially change the price of your policy. Improving your credit rating, having a teen driver, or getting caught speeding can cause premium changes that can make some companies more affordable than before.
Find the Cheapest Car Insurance for Realtors
Travelers quotes some of the most affordable car insurance rates in Fort Worth at around $1,021 annually. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty are also some of the most economical Fort Worth, TX auto insurance companies.
In this example, if you currently buy coverage from USAA and switched to Travelers, you could see yearly savings of around $96. Texas drivers with Texas Farm Bureau could save as much as $226 a year, and Germania Mutual insureds might see rate reductions of $261 a year.
Be aware that those premiums are averages for all drivers and vehicles and and are not figured with a vehicle location for real estate agents. So the auto insurance company that can offer the best rates for your situation may not even be in the list above. That helps illustrate why you need to get rate quotes using your own driver information and specific vehicle type.
Cost comparison with and without full coverage
Finding cheaper auto insurance is important to most drivers, and one of the easiest ways to reduce the cost of insurance for real estate agents is to only pay for liability coverage. The information below shows the difference between premium costs with and without physical damage coverage. The price estimates are based on no accidents or driving violations, $500 deductibles, single marital status, and no other discounts are factored in.
As an overall average, full coverage on your policy costs $2,431 per year more than just insuring for liability. That touches on the question if paying for full coverage is a waste of money. There is no exact formula to stop paying for physical damage coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than around 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your vehicle’s claim settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $6,000 after the deductible is paid. If you are currently paying more than $600 a year to have full coverage, then it could be time to drop full coverage.
The chart below illustrates how your deductible choice can change insurance costs when trying to find cheap insurance for real estate agents. The premiums are based on a married male driver, comp and collision included, and no additional discounts are factored in.
A 30-year-old driver could lower their policy premium by $396 a year by switching from a $100 deductible up to a $500 deductible, or save $598 by selecting a $1,000 deductible. Even younger drivers, such as the 20-year-old example, could save $1,206 or even more by selecting a higher deductible. When increasing deductibles, it will be required to have enough savings set aside to enable you to cover the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
How accidents and tickets impact rates
The obvious way to maintain cheap auto insurance premiums for realtors is to pay attention while driving and avoid traffic citations and accidents. The information below shows how traffic citations and accident claims raise annual premium costs for each different age group. Data assumes a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.
In the chart above, the average cost of a car insurance policy per year with a clean driving record and no accidents is $2,490. Add in one speeding ticket and the average cost surges to $2,859, an increase of $369 each year. Next add one accident along with the one speeding ticket and the annual cost of auto insurance for real estate agents increases to an average of $3,919. That’s an increase of $1,429, or $119 per month, just for being a careless driver!
How to find low-cost insurance for real estate agents
Below you’ll find many thrifty suggestions that can help drivers locate low-cost auto insurance.
- Staying accident-free helps keep rates low
- Be a cautious driver
- Increase deductibles to save money
- Drop full coverage on older vehicles
- Do not file small claims
- Shop around for lower rates once a year
The last item on the list is especially valuable, as we hit on in the article above. Prices charged by companies change a lot, so don’t be unwilling to buy from a new company if a better rate can be found. Loyalty to a specific company is fine, but it’s not a great idea if it’s costing you hundreds of dollars year after year. Take a couple minutes and shop around to find cheaper auto insurance for real estate agents in Fort Worth.