Cheap Insurance for Electric Cars in Texas

You have most likely seen the catchy commercials from companies like Liberty Mutual and Farmers that make promises of the cheapest price. So drivers should just pick the company with the catchiest ad, right?

It’s not that easy, however, as there are many unknown factors such as if you want full coverage included, any driving violations you may have, if you are married, and the miles you drive each year, that all impact the cost of your policy. This article should teach you a little about the best ways to find cheap auto insurance and will hopefully give you a good start in finding the cheapest insurance in Texas.

The make and model of vehicle you are insuring is one of the largest considerations when consumers are trying to find cheap insurance for electric cars in Texas. Vehicles with high performance features, a lack of safety features, or a track record of large liability claims will cost more to insure than safer models. The list below shows coverage costs for a number of the cheaper automobiles to insure.

Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Price estimates do not factor in specific location information which can change insurance rates considerably.

Looking at the numbers, models like the Ford Escape, Ford Edge, and Honda CR-V will be the most economical vehicles to insure for eco-friendly vehicles.

Finding good, reasonably-priced insurance is hard enough, and determining which companies have the best auto insurance rates for electric cars will require a little more work.

Every car insurance company has a unique formula for determining prices, so first we will examine the overall cheapest auto insurance companies in Texas. It’s a good idea to be aware that Texas auto insurance rates are impacted by many things which can significantly increase or decrease the price you have to pay for coverage. This is why it is so important to compare rates when trying to find the most budget-friendly car insurance quotes for electric cars. Car insurance prices are influenced by many different factors and can increase or decrease at any time, so the best option the last time you checked may now be an over-priced policy.

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Travelers offers some of the cheapest car insurance rates in Texas at around $1,052 annually. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the cut as some of the cheaper Texas insurance companies.

As shown in the rates above, if you buy coverage from USAA and switched to Travelers, you might achieve savings of about $32. Texas drivers with Texas Farm Bureau could save as much as $159 a year, and Germania Mutual customers might see rate reductions of $230 a year.

To find cheap insurance for electric cars in Texas for your vehicle, click here to start a quote or quote prices from the following companies.

Understand that those premiums are averaged across all ages of drivers and types of vehicles and and are not calculated with a rate discount for electric cars. So the insurer that is best suited for you may not even be included in the company chart above. That is why you need to get rate quotes from many companies using your own personalized driver profile and vehicle information.

For eco-friendly vehicles, one of the big criteria that is used by insurance companies to determine auto insurance rates is your zip code in Texas. Areas that are more densely populated like McAllen, Dallas, and Garland tend to have more expensive car insurance rates, whereas areas with less crime or weather claims have the luxury of cheap insurance for electric cars in Texas.

The information below ranks the more expensive cities in Texas for electric cars to purchase car insurance in.

Premium amounts are estimated as the specific area where the vehicle is garaged can influence insurance rates greatly.

Types of discounts on Texas car insurance

<img class="shadow floatright" src="http://www.quoteclickinsure.com/blog/wp-content/uploads/cheapest-insurance-electric-cars-tx.jpg" alt="Cheaper Texas auto insurance for eco-friendly vehicles” />Insurers that provide cheap insurance for electric cars in Texas may additionally offer rate discounts that may potentially lower prices by 40% or more if you qualify for them. Companies and the discounts they provide can be found below.

• State Farm includes discounts for good driver, student away at school, multiple autos, accident-free, and safe vehicle.
• GEICO discounts include federal employee, military active duty, emergency military deployment, multi-policy, driver training, anti-lock brakes, and daytime running lights.
• Allstate offers discounts including farm vehicle, good payer, anti-lock brakes, premier discount, premier plus, auto/life discount, and good student.
• SAFECO may offer discounts for drive less, anti-theft, multi-car, teen safety rewards, and anti-lock brakes.
• Farm Bureau has savings for multi-policy, driver training, multi-vehicle, safe driver, and youthful driver.
• Progressive has discounts for good student, online quote discount, online signing, multi-policy, and continuous coverage.
• AAA offers discounts for multi-policy, multi-car, education and occupation, pay-in-full, good student, and anti-theft.

The diagram below visualizes the comparison of insurance costs with and without some available policy discounts. Data assumes a female driver, no violations or claims, Texas state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with vehicle safety, multiple vehicle, multiple policy, defensive driving course, claim-free, and safe-driver discounts applied. In this example, the the average amount saved on auto insurance for electric cars is 28% or $425.

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Does full coverage make sense?

Finding cheap insurance for electric cars in Texas should be important to the majority of vehicle owners, and one of the easiest ways to find cheap insurance is to not pay for full coverage. The illustration below shows the comparison of insurance costs with and without full coverage. The price estimates are based on a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $500 Deductibles’, ‘Liability Only’],[‘Age 20’, 4107,1523],[‘Age 30’, 2121,833],[‘Age 40’, 2089,771],[‘Age 50’, 1907,723],[‘Age 60’, 1849,711],[‘Age 70’, 2287,951]]);var options = {title: ‘Full Coverage Rates Compared to Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Texas’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If the expense is averaged for all age categories, full coverage costs $2,393 per year more than just buying liability only. Many people question if you should buy full coverage. There is no definitive rule to eliminate full coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.

For example, let’s assume your vehicle’s book value is $11,500 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would receive is $10,500 after the deductible is paid. If it’s costing in excess of $1,050 annually for physical damage coverage, then it may be the right time to buy liability only.

There are some scenarios where buying only liability insurance is not financially feasible. If you still have a lienholder on your title, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not drop full coverage.

How to get cheap insurance for electric cars in Texas

Lowering your rates is not difficult, and here are some of the recommended thrifty suggestions that can help drivers get cheaper coverage.

• Save money by only buying liability coverage for older vehicles
• Do not get tickets
• Higher comprehensive and collision coverage deductibles will save money
• Buy a vehicle with excellent safety ratings
• At-fault accidents can raise rates significantly
• Improve your credit
• Keep rates low by comparing prices once a year

That final tip is especially vital, as was affirmed in the prior information. Rates change constantly, so don’t hesitate to change to a new company if a more affordable rate is found.

Having a favorite company is great, but it isn’t a good idea if that stubbornness costs you major coinage every year. Spend a few minutes and compare prices and find cheaper car insurance for electric cars.

Who has the cheapest insurance quotes for eco-friendly vehicles?

Due to technology, there are many ways to comparison shop for auto insurance in Texas, but the three most common ways are using an independent or non-exclusive agent, an exclusive agency like Allstate or Auto-Owners, or direct either online or via phone. They all have the same basic principle, but it’s important to understand the differences in how they provide price quotes.

Independent insurance agents are appointed by several companies and can get policy pricing from all of them. These agents are not required to write business for one company and can quote rates with many companies, which can give you a better comparison. If a cheaper price is found, an independent agent can move your coverage which requires no work on your part.

An exlusive, or captive, agency is only able to quote rates from a single company, two examples being Liberty Mutual and Allstate agents. These agents are not able to compare other company’s rates, so if rates are not competitive, they cannot shop around.

The final way is buying direct, which means you skip a local insurance agent and buy direct online or over the phone from a company like Esurance or Progressive. Shopping for auto insurance direct may be the best choice drivers who do not need complex risk management and have knowledge of how auto insurance works and possible exclusions.

So out of those three methods, which one works best to buy cheap insurance for electric cars in Texas? The majority of auto insurance shoppers assume that buying from a direct car insurance company saves money because you bypass the agent, but that turns out to not be true. An argument could also be made that buying auto insurance from an independent agent results in the best rates due to more options, but again, that’s not a true statement. In many circumstances, exclusive agents may have prices that other companies cannot beat.

Because there are so many factors that make up auto insurance rates, the guaranteed way to ensure you are not overpaying is to compare rate quotes from as many companies as possible. Money-saving experts recommend you get quotes from all three types in order to find the best price. For a list of companies with cheap rates in Texas, click here to view.