You have most likely watched the captivating ads from companies like Liberty Mutual and Farmers that claim enormous savings. So you just need to choose one randomly, right?
It’s not that easy, however, as there are a whole bunch of unknowns such as the area where you live, the number of miles you drive each year, citations or tickets, and whether you are a man or a woman. The information below will cover these factors and others that can influence the price of auto insurance and also should give you a good start in finding the cheapest insurance in Texas.
The make and model of vehicle to be insured is probably the most important factor that determines the availability of economical coverage for electric cars. Vehicles with high performance features, a lack of modern safety features, or high incidents of liability claims will cost quite a bit more to insure than safer models. The table below outlines auto insurance costs for the most affordable automobiles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 4WD | $1,230 |
| Honda Accord LX 4-Dr Sedan | $1,238 |
| Honda CR-V LX 2WD | $1,238 |
| Hyundai Elantra GLS Touring Station Wagon | $1,243 |
| Honda Civic DX 4-Dr Sedan | $1,256 |
| Toyota Tacoma Double Cab 4WD | $1,282 |
| Toyota Corolla XLE | $1,348 |
| Nissan Altima 2.5 S 4-Dr Sedan | $1,356 |
| Chevrolet Impala LTZ | $1,348 |
| Toyota Prius | $1,364 |
| Nissan Rogue S AWD | $1,372 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,377 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $1,374 |
| Ford Fusion SE 4-Dr Sedan | $1,379 |
| Ford F-150 XL Super Cab 4WD | $1,374 |
| Compare Rates Now Go | |
Data variables include married female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Rate information does not factor in vehicle garaging location which can impact insurance rates significantly.
Based upon the table data, you can presume that models like the Ford Escape, Honda Accord, Honda CR-V, Hyundai Elantra, and Honda Civic are most likely going to be a few of the most economical vehicles to insure for eco-friendly vehicles.
Trying to find low-cost car insurance is hard enough, and deciding which insurers offer the most affordable auto insurance rates for electric cars involves a bit more work.
Each auto insurance company uses slightly different criteria to establish rates, so let’s take a look at the auto insurance companies that tend to be cheaper in Texas.
Find the Best Cheap Insurance for EV’s
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,010 |
| 2 | USAA | $1,084 |
| 3 | Germania Mutual | $1,244 |
| 4 | Texas Farm Bureau | $1,247 |
| 5 | California Casualty | $1,382 |
| 6 | Esurance | $1,407 |
| 7 | State Farm | $1,495 |
| 8 | Mercury | $1,521 |
| 9 | Nationwide | $1,538 |
| 10 | Safe Auto | $1,565 |
| 11 | Allstate | $1,650 |
| 12 | Progressive | $1,664 |
| 13 | Amica | $1,705 |
| 14 | Home State | $2,071 |
| 15 | GEICO | $2,093 |
| 16 | MetLife | $2,227 |
| 17 | Encompass | $2,232 |
| 18 | Unitrin | $2,310 |
| 19 | 21st Century | $2,469 |
| 20 | Titan | $2,672 |
| Find Cheaper Rates Go | ||
Travelers may offer some of the cheapest car insurance rates in Dallas at around $1,010 annually. USAA, Germania Mutual, Texas Farm Bureau, and California Casualty also make the cut as some of the best Dallas, TX car insurance companies.
As depicted above, if you have coverage with Germania Mutual and switched to Travelers, you could see yearly savings of upwards of $234. Policyholders with Texas Farm Bureau could save as much as $237 a year, and California Casualty customers might reduce prices by as much as $372 a year.
To get a quick, customized rate comparison, click here to begin a quote or feel free to get quotes from the companies below.
Bear in mind that those premiums are averages across all drivers and vehicles in Texas and do not factor in an exact zip code location for electric cars. So the car insurance company that can offer you the best rate may not even be in the top 23 companies in the list above. That point stresses why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.
The diagram below highlights how deductible choice can increase or decrease insurance costs when quoting cheap insurance for electric cars. The prices are based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.
The chart above illustrates that a 50-year-old driver could save $264 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $402 by changing to a $1,000 deductible. Even younger insureds, like the 20-year-old category, could lower their rates $884 every year by choosing a larger deductible amount. If you do make the decision to raise your deductibles, it is a good idea to have plenty of discretionary funds to be able to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Violations and accidents raise rates
One of the best ways to receive good auto insurance rates in Dallas for eco-friendly vehicles is to drive cautiously and not get tickets or have accidents. The example below shows how speeding tickets and at-fault collisions drive up insurance prices for each age group. The rates are based on a married male driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.
In the previous example, the average cost of a car insurance policy per year with no accidents and a clean driving record is $2,490. Factor in one speeding ticket and the average cost swells to $2,859, an increase of $369 each year. Next add one accident along with the one speeding ticket and the 12-month cost of auto insurance for electric cars increases to an average of $3,919. That’s an increase of $1,429, or $119 per month, just for not being a responsible driver!
How much more does full coverage cost in Dallas?
Reducing the cost of auto insurance is the goal of most people, and one way to find cheaper insurance for electric cars is to not buy comprehensive and collision coverage. The information below shows the comparison of insurance costs when comparing full coverage to liability only. The premiums assume no claims, a clean driving record, $250 deductibles, drivers are not married, and no discounts are taken into consideration.
If we average the cost for ages 20 through 70, full coverage costs an additional $2,671 per year over liability only. That brings up the question if paying for full coverage is worth it. There is no set guideline to delete full coverage, but there is a guideline you can use. If the yearly cost of full coverage is more than around 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your vehicle’s book value is $6,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would get paid by your company is $5,000 after the policy deductible has been paid. If you are paying over $500 annually for comprehensive and collision coverage, then you might want to think about dropping full coverage.
There are a few cases where eliminating full coverage is not a good idea. If you still owe a portion of the original loan, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not consider dropping full coverage.
The agents below can probably provide answers to your questions and help you determine which policy is best, since many consumers aren’t sure which coverage to buy and prefer to have a consultation when trying to find the best insurance rates for electric cars. It’s not always easy to find the cheapest auto insurance company, so insurance agents can add peace of mind knowing your coverage gives you sufficient coverage at claim time.
To locate an agency using an interactive map, click the button following the list or click here to compare price quotes.
- Danny Venz – State Farm Insurance Agent
3218 Oak Lawn Ave – Dallas, TX 75219 – (214) 521-1400 - Calema Insurance Agency
3021 Lombardy Ln #101 – Dallas, TX 75220 – (469) 341-7831 - Oak Lawn Insurance
5200 Lemmon Ave #105, Dallas, TX 75209, USA – TX 75209, TX USA – (214) 521-2212 - Larry Sandlin – State Farm Insurance Agent
4560 W Mockingbird Ln #120 – Dallas, TX 75209 – (214) 526-5227 - Marybel Castilleja – State Farm Insurance Agent
4444 W Jefferson Blvd Ste 620 – Dallas, TX 75211 – (214) 331-7680
View more Dallas, TX insurance agents
How to find more affordable car insurance for electric cars
Lowering your rates is not difficult, and here are many money-saving solutions that can help drivers locate low-cost car insurance.
- Save money by bundling your home and auto policies
- Buy a car with high safety ratings
- Avoid having at-fault accidents
- Avoid speeding and other traffic citations and pay less
- Too many claims can make car insurance unaffordable
- Comparison shop at least once a year
That last piece of advice is particularly vital, as was emphasized in the prior information. Car insurance rates can change considerably based on profitability, so don’t be unwilling to buy from a new company if a better rate can be found.
Sticking with a specific company is fine, but is isn’t recommended if your bullheadedness ends up costing you a fortune every year. It only take a few minutes to shop around to find cheaper insurance for electric cars in Dallas.