You have seen the captivating commercials from companies like Nationwide and The General that claim huge savings. So drivers should just pick the company with the cutest commercial, right?
It’s not that simple, unfortunately, as there are many unknown factors like your credit rating, if you are a man or woman, how old you are, and if you have ever let your coverage lapse. This article delves into the best ways to pay less and will give you a jump start in finding the best auto insurance.
One of the more important components that determine the price you pay for insurance is where you keep your car in Arlington. Regions with larger populations or more claims tend to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower coverage costs.
The next table lists the highest-priced areas in Texas for low income drivers to purchase auto insurance in. Arlington shows up at #17 with an annual rate of $1,658 for the average insured, which is approximately $138 monthly.
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Table data uses estimated as the specific geographic location can impact prices considerably.
The make and model of vehicle you are trying to insure is a significant factor when shopping for the cheapest car insurance for low income drivers. Vehicles with lower acceleration and performance, good safety features, or a track record of few liability claims will cost substantially less to insure than fast, unsafe models. The data below presents car insurance rates for a selection of the more affordable automobiles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$1,084|
|Honda Accord EX 4-Dr Sedan||$1,094|
|Toyota Tacoma 2WD||$1,095|
|Ford Focus S 4-Dr Sedan||$1,101|
|Chevrolet Equinox LS AWD||$1,117|
|Ford F-150 FX4 4WD||$1,137|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$1,156|
|Chevrolet Impala LTZ||$1,174|
|GMC Sierra 2500HD SLE Crew Cab 4WD||$1,194|
|Jeep Grand Cherokee Limited 4WD||$1,202|
|Nissan Rogue S 2WD||$1,198|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$1,216|
|Dodge Grand Caravan CV||$1,226|
|Ford Explorer XLT 4WD||$1,216|
|Ford Escape Limited 4WD||$1,262|
|Ford Edge SE 2WD||$1,273|
|Toyota Camry Hybrid||$1,276|
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Data based on single 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, multi-policy, safe-driver, and multi-vehicle. Price estimates do not factor in vehicle garaging location which can impact coverage prices noticeably.
Based upon the table data, we can tell that models like the Honda CR-V, Honda Accord, and Toyota Tacoma are most likely to be a few of the most budget-friendly vehicles to insure for poor drivers.
Finding cheap insurance is difficult, and figuring out which insurers offer the best insurance rates for low income drivers involves even more perseverance. Every auto insurer uses a different method for setting rates, so we’ll go over the lowest cost insurance companies in Arlington.
We do need to point out that Arlington, TX insurance rates are impacted by many factors that will increase or decrease the price you have to pay for coverage. That is why consumers need to compare many different companies when trying to get cheap car insurance quotes for low income drivers. Rates can be determined by many different factors and can increase or decrease at any time, so the most affordable company six months ago may now be wasting a lot of money.
Lowest Insurance Price Quotes in Texas
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,211|
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Travelers normally has some of the lowest car insurance rates in Arlington at around $1,052 a year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the best Arlington, TX insurance companies.
As illustrated above, if you currently have a policy with Texas Farm Bureau and switched to Travelers, you could earn annual savings of in the neighborhood of $159. Drivers with Germania Mutual may save as much as $242 a year, and Esurance policyholders might lower prices by up to $369 a year.
To find the cheapest rates for your vehicle, click here to start your free quote or quote prices from the following companies.
Bear in mind that those policy rates are averages across all types of drivers and the different vehicles they drive and and are not calculated with a specific vehicle garaging location for low income drivers. So the auto insurance company that fits your needs best may not even be in the top 23 companies shown above. That’s why you need to quote rates from many companies using your own driver and vehicle profiles.
Violations and accidents raise rates
In a perfect world, the ideal way to obtain low insurance premiums in Arlington for poor drivers is to be a cautious driver and avoid getting tickets or having accidents. The illustration below shows how speeding tickets and accidents raise auto insurance costs for different age groups. The data is based on a single male driver, comp and collision included, $500 deductibles, and no discounts are applied.
The data charted above shows the average cost of a car insurance policy per year with no violations or accidents is $2,431. Factor in two speeding tickets and the average cost rises to $3,216, an increase of $785 each year. Then add two accidents along with the two speeding tickets and the yearly cost of insurance for low income drivers jumps again to an average of $6,259. That’s an increase of $3,828, or $319 per month, just for not driving attentively!
The example below illustrates how your choice of deductibles can change insurance premiums when quoting cheap insurance for low income drivers. The data is based on a single female driver, full coverage, and no policy discounts are applied.
As shown above, a 30-year-old driver could cut expenses by $344 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $520 by using a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could drop their prices as much as $766 every year by using higher deductibles when buying full coverage.
When using a larger deductible, it will be important to have additional funds in a savings account to be able to pay the extra out-of-pocket expense that is associated with using high deductibles.
Buying coverage from a high-quality insurer can be rather challenging considering how many companies are available to choose from in Texas. The rank data below could help you select which companies to look at when comparing rate quotes. The rankings below are only made up of large, nationwide insurance companies, so companies with more of a regional focus are not included in this list.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
How to find more affordable car insurance for low income drivers
Lowering your rates is not difficult, and here are some of the recommended penny-pinching solutions that can help drivers buy more affordable car insurance.
- Higher credit scores can equal lower rates
- Tickets and violations raise rates
- Safer vehicles cost less to insure
- Increase your physical damage deductibles
- Staying accident-free helps keep rates low
- Compare rates regularly and switch companies to save money
That last idea is remarkably significant, as was stressed in the prior article. Prices charged by auto insurers can change considerably based on profitability, so don’t be afraid to buy a policy from a new company if a more affordable rate is found. Brand loyalty is great, but it’s not a great idea if that stubbornness costs you big bucks every year. Take a few minutes and compare rates to find cheaper car insurance for low income drivers in Arlington.