The words “cheap” and “insurance” probably shouldn’t be used in the same sentence, in particular when searching for the best car insurance rates for a learners permit. Because of the high cost, let’s go over a few of the things that influence insurance premiums, and see if we can help you take the sting out of the next policy you buy.
Shopping around for budget insurance is easier said than done, and figuring out which company offers the cheapest insurance rates for a learners permit may require even more perseverance. Every car insurance company has a unique formula to set policy rates, so let’s begin by examining the lowest cost insurance companies in Arlington, TX.
Keep in mind that Arlington insurance rates are influenced by many factors that will increase or decrease the price of coverage. Improving your credit rating, moving to a new city, or having an at-fault accident can trigger price changes that may make certain companies more affordable than before.
Best Auto Insurance Prices in Texas
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,247|
|Get Personalized Rates Go|
Travelers quotes some of the best car insurance rates in Arlington at around $1,021 a year. This is $883 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also are some of the lowest-priced Arlington, TX car insurance companies.
As illustrated above, if you are currently insured with Germania Mutual and switched to Travelers, you could realize yearly savings of about $261. Customers with Esurance could save as much as $358 a year, and California Casualty insureds might see rate reductions of $403 a year.
Remember that these policy prices are averaged for all types of insureds and vehicles and do not take into consideration an exact location for a learners permit. So the car insurance company that has the cheapest rates for you may not even be in the top 23 companies in the list above. That affirms the importance of why you need to get car insurance quotes using your own personal information and vehicle type.
The type of vehicle that needs insurance is one of the biggest factors when shopping around for affordable insurance for a learners permit. Vehicles with higher performance characteristics, poor safety ratings, or a history of substantial liability claims will cost substantially more to insure than more economical and safe models.
The data below features coverage prices for a number of the cheapest vehicles to insure.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$3,489|
|Honda CR-V EX 4WD||$3,525|
|Dodge Grand Caravan CV||$3,922|
|Toyota Tacoma 4WD||$3,927|
|Ford Explorer XLT AWD||$3,922|
|Jeep Wrangler Rubicon 4WD 2-Dr||$3,928|
|Honda Odyssey EX||$4,107|
|Ford Edge SEL AWD||$4,112|
|Chevrolet Equinox LS AWD||$4,143|
|Chevrolet Impala LT||$4,152|
|Jeep Grand Cherokee Laredo 4WD||$4,143|
|Toyota RAV4 2WD||$4,152|
|Dodge Ram Quad Cab ST 2WD||$4,264|
|Hyundai Elantra Blue 4-Dr Sedan||$4,328|
|Ford Focus SEL 4-Dr Sedan||$4,333|
|Toyota Camry SE||$4,363|
|Compare Cheap Rates Go|
Above prices assume single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, and safe-driver. Rates do not factor in zip code location which can alter rates noticeably.
By looking at the data, you can assume that makes and models like the Ford Escape, Honda CR-V, Toyota Prius, Dodge Grand Caravan, and Toyota Tacoma are going to be the less-costly vehicles to insure for new drivers. The price for an auto insurance policy will tend to be more expensive just because there is more liability exposure for a learners permit, but in general those specific models will probably have the lowest prices compared to other vehicles.
Cost comparison with and without full coverage
Buying cheaper insurance should be important to the majority of people, and one of the quickest ways to buy cheaper insurance for a learners permit is to not pay for full coverage. The example below illustrates the comparison of annual premium costs when comparing full coverage to liability only. The prices are based on no claims or violations, $250 deductibles, single status, and no discounts are applied.
Averaged out for all age groups, full coverage costs $2,000 per year more than just insuring for liability. Many drivers will wonder when is it safe to stop buying full coverage. There is no exact formula that is best for determining when to drop full coverage, but there is a general school of thought. If the yearly cost of comp and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
The diagram below highlights how deductible choice can change insurance premiums when quoting cheap insurance for a learners permit. The rates are based on a single male driver, full coverage, and no discounts are taken into consideration.
In the chart above, a 30-year-old driver could lower their car insurance rates by $490 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $740 by selecting a $1,000 deductible. Even younger drivers, like the age 20 example, could possibly save $1,446 or even more by choosing larger deductibles on their policy.
When increasing deductibles, it will be necessary to have additional funds in a savings account to enable you to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
How to find more affordable car insurance for a learners permit
Lowering your rates is not difficult, and here are some of the recommended thrifty ideas that can help drivers locate low-cost coverage.
- Increase the comprehensive and collision deductibles on your policy
- Save money by only buying liability coverage for older vehicles
- Prevent price hikes by avoiding at-fault accidents
- Maintain a clean driving record
- Better credit rating means better rates
- Buy vehicles with five-star safety ratings
- Shop around for lower rates once a year
The last suggestion is remarkably critical, as was noted in the prior article. Coverage rates can change in a short period of time, so drivers shouldn’t be resistant to switch companies if a cheaper price is available. We understand brand loyalty, but we do not recommend it if that loyalty ends up costing money that could be spent on other things. If you have a few minutes, shop around to find cheaper auto insurance for a learners permit in Arlington.