The words “cheap” and “insurance” really don’t belong together, specifically when you are looking for the best coverage prices for high risk drivers. Because it’s so expensive, let’s start the ball rolling by going over some of the factors that can significantly affect auto insurance rates, and see how we can help you shave a little off the next policy you buy.
The type of vehicle you are insuring is one of the primary factors when quoting affordable insurance for high risk drivers. Vehicles with higher performance characteristics, a lack of modern safety features, or a track record of large liability claims will cost much more to insure than more economical and safe models. The table below features coverage prices for some of the most affordable automobiles to insure in Texas.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$3,551|
|Ford Escape XLS 2WD||$3,556|
|Honda CR-V EX-L 4WD||$3,858|
|Chevrolet Silverado LT Extended Cab 4WD||$4,208|
|Ford Explorer Limited AWD||$4,248|
|Dodge Grand Caravan Crew||$4,257|
|Chevrolet Malibu LT||$4,248|
|Nissan Altima 2.5 S 4-Dr Sedan||$4,397|
|Ford Edge Sport AWD||$4,404|
|Ford F-150 Lariat Crew Cab Platinum 2WD||$4,438|
|Ford Focus S 4-Dr Sedan||$4,465|
|Ford F-350 XL Crew Cab 2WD||$4,478|
|Toyota RAV4 Sport 2WD||$4,512|
|Chevrolet Impala LT||$4,518|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$4,560|
|Honda Odyssey EX-L W/Navigation||$4,605|
|GMC Sierra SL Crew Cab 2WD||$4,648|
|Hyundai Elantra Blue 4-Dr Sedan||$4,672|
|Dodge Ram Quad Cab ST 2WD||$4,693|
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Data based on single female driver age 30, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, and multi-policy. Premium costs do not factor in garaging location in Arlington, TX which can lower or raise premiums significantly.
Looking at the data, we can assume that vehicles like the Honda Accord, Ford Escape, Honda CR-V, and Toyota Prius will be a few of the cheapest vehicles to insure for high risk drivers. The price for an auto insurance policy will tend to be more expensive anyway because of the fact that there is a higher risk for high risk drivers, but overall those makes and models will tend to have the best rates that you are likely to find.
One of the more important things that are looked at to help calculate the price you pay for insurance is the neighborhood you call home in Arlington. Areas with increased crime or more people will most likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates have the enjoyment of a little cheaper coverage.
The table below ranks the most expensive cities in Texas for high risk drivers to buy car insurance in. Arlington is listed at #16 with a yearly cost of $1,642 for coverage, which is around $137 each month.
|Rank||City||Average Per Year|
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Premium costs are estimated as specific Arlington zip code can affect premium rates greatly.
Establishing which companies offer the cheapest auto insurance rates for high risk drivers involves more work than just picking a company at random.
Each auto insurer has a different formula for establishing rates, so to begin we’ll rank the auto insurance companies that tend to be cheaper in Arlington, TX. It’s important to know that Arlington, TX auto insurance rates are calculated based on many things that may substantially change the price of coverage. Simply having another birthday, having a teenage driver, or having a fender bender can trigger changes in premium that can make some companies cheaper in comparison to the competition.
Cheapest Insurance Rates for Risky Drivers
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,247|
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Travelers offers some of the most affordable car insurance rates in Arlington at around $1,052 per year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance would also be considered some of the cheaper Arlington, TX car insurance companies.
As shown in the rates above, if you currently have coverage with Esurance and switched to USAA, you might achieve yearly savings of about $262. Texas drivers with California Casualty could save as much as $307 a year, and Mercury insureds might lower prices by up to $359 a year.
It’s important to note that these prices are averages across all drivers and vehicles in Texas and and are not calculated with a specific zip code for high risk drivers. So the car insurance company that can offer the best rates for your situation may not even be in the list above. That emphasizes why you need to quote rates from many companies using your own specific driver and vehicle information.
Illustration showing the impact of accidents and violations
In a perfect world, the best way to score the best auto insurance premiums in Texas for high risk drivers is to pay attention while driving and avoid accidents and violations. The diagram below demonstrates how speeding tickets and fender-benders can raise premium costs for different insured age categories. The rate quotes are based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied to the premium.
In the chart above, the average cost of a car insurance policy in Texas per year with no accidents and a clean driving record is $2,000. Get one speeding ticket and the average cost increases to $2,252, an increase of $252 each year. Then add in one accident along with the one speeding ticket and the annual cost of auto insurance for high risk drivers goes up to an average of $2,959. That’s an increase of $960, or $80 per month, just for not being attentive to the road!
How to get discounts on Arlington car insurance rates
Insurance companies that provide policies for high risk drivers could also offer rate discounts that can lower rates by as much as 30% if you qualify for them. A few popular companies and some of their more popular discounts are detailed below.
- State Farm offers premium reductions for multiple policy, good driver, student away at school, passive restraint, and defensive driving training.
- Farmers Insurance may have discounts that include early shopping, distant student, teen driver, homeowner, multi-car, mature driver, and electronic funds transfer.
- Progressive offers discounts for good student, continuous coverage, homeowner, online quote discount, multi-vehicle, multi-policy, and online signing.
- GEICO has discounts for membership and employees, anti-theft, driver training, anti-lock brakes, multi-policy, and five-year accident-free.
- Auto-Owners Insurance may offer discounts for company car, good student, anti-lock brakes, air bags, paperless, group or association, and mature driver.
- The Hartford has savings for defensive driver, good student, air bag, driver training, anti-theft, and bundle.
- Farm Bureau discounts include safe driver, renewal discount, multi-policy, youthful driver, good student, and 55 and retired.
- USAA policyholders can earn discounts including annual mileage, multi-policy, multi-vehicle, family discount, safe driver, and driver training.
The illustration below shows the difference between premium costs with and without discounts applied to the premium. The data is based on a female driver, three violations and one at-fault accident, Texas state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with passive restraint, homeowner, paid-in-full, multiple policy, marriage, and multiple vehicle discounts applied. In this example, the average amount saved each year on auto insurance for high risk drivers is 28% or $882.
Rate comparison of full coverage and liability-only
Saving on auto insurance is the goal of the majority of vehicle owners, and an easy way to buy cheap insurance for high risk drivers is to buy liability only. The chart below illustrates the difference between insurance costs with full coverage and liability only. The premiums assume no accidents or driving violations, $500 deductibles, single status, and no discounts are applied to the premium.
Averaged for all age groups, comp and collision coverage costs an extra $2,393 per year over and above liability only. Many of you may wonder when is the right time to remove full coverage. There is no exact formula to stop paying for comprehensive and collision coverage on your policy, but there is a general school of thought. If the annual cost of coverage is about 10% or more of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your vehicle’s book value is $4,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, you would only receive $3,500 after paying your policy deductible. If premiums are more than $350 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
The Arlington, TX, insurance agents below can answer your questions and help you decide which coverage fits your budget, since lots of people like to have a little guidance when shopping for the best coverage for high risk drivers. It can be complicated to find the cheapest rates, and getting professional guidance from a licensed agent can add satisfaction knowing your policy gives you adequate asset protection. To locate an Arlington auto insurance agent near you, click the button at the bottom or click here to compare price quotes now.
Billy Rhodes – State Farm® Insurance Agent
4621 S Cooper St #119 – Arlington, TX 76017 – (817) 557-1222
Vogue Insurance Agency
1201 N Watson Rd #287 – Arlington, TX 76006 – (682) 305-2140
Jesus Sanchez – State Farm Insurance Agent
3330 Matlock Rd #124 – Arlington, TX 76015 – (817) 468-3338