Are you doing reasearch to find the cheapest car insurance rates in McKinney, TX? Wish you could get out of an overpriced car insurance policy? Believe me when I say there are many people just like you.

It's astonishing, but a large majority of drivers in Texas kept their policy with the same company for well over three years, and 38% of customers have never shopped around. With the average premium in the U.S. being $1,847, drivers could cut their rates by almost $860 a year by just comparing quotes, but they just assume it takes a lot of time to shop around.

Many auto insurance companies compete to insure your vehicles, so it's not easy to compare every insurance company and get the best coverage at the lowest price on car insurance.

It's a great practice to compare rates every six months because prices are adjusted regularly by insurance companies. Even if you think you had the lowest quotes on car insurance last year you may be paying too much now. Block out anything you think you know about car insurance because you're going to learn one of the easiest ways to find lower rates on car insurance.

If you have a policy now, you stand a good chance to be able to cut your premiums using this information. Locating the most cost-effective insurance policy in McKinney can really be easy if you know what you're doing. Nevertheless, Texas vehicle owners must understand how insurance companies compete online and use this information to your advantage.

The easiest way to compare rates is to know the fact most of the bigger providers provide online access to give free rates quotes. To start a quote, the only thing you need to do is take a few minutes to give details like your occupation, deductibles desired, if you have a valid license, and if you lease or own. Your rating data gets sent immediately to multiple different insurance companies and they provide comparison quotes almost instantly.

To compare rates now, click here and enter your coverage details.

The car insurance companies shown below can provide comparison quotes in McKinney, TX. To get cheap car insurance in Texas, we suggest you click on several of them to get the most competitive price.

Insurance Rates for Popular Vehicles in McKinney
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Colorado LT Crew Cab 2WD $1,042 $521 $87
Chevrolet Equinox LTZ AWD $1,422 $711 $119
Chevrolet Silverado LS Extended Cab 2WD $1,212 $606 $101
Dodge Ram Quad Cab Sport 2WD $1,032 $516 $86
Ford Escape Limited 2WD $1,134 $567 $95
Ford F-150 XL Crew Cab 2WD $1,384 $692 $115
Ford Focus SEL 4-Dr Sedan $1,042 $521 $87
Ford Fusion Hybrid 4-Dr Sedan $1,276 $638 $106
Honda Accord LX-P 4-Dr Sedan $748 $374 $62
Honda CR-V EX-L 2WD $1,036 $518 $86
Honda Civic VP 4-Dr Sedan $1,336 $668 $111
Honda Odyssey EX-L $1,588 $794 $132
Hyundai Sonata SE 4-Dr Sedan $1,328 $664 $111
Mazda 3 S Sport 4-Dr Sedan $1,402 $701 $117
Nissan Altima 2.5 4-Dr Sedan $1,164 $582 $97
Toyota Camry SE $952 $476 $79
Toyota Corolla S $1,118 $559 $93
Toyota RAV4 Limited 4WD $906 $453 $76
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Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Information does not factor in garaging location in McKinney which can impact insurance rates considerably.

Full coverage rates compared to liability-only

The illustration below shows the comparison of Nissan Altima insurance costs with liability coverage only compared to full coverage. The data is based on no violations or accidents, $1,000 deductibles, single male driver, and no discounts are taken into consideration.

Nissan Altima rates are for example purposes only. To get rates for your specific vehicle, click here.

Should you be buying full coverage?

There is no specific rule for eliminating physical damage coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than around 10% of replacement cost minus your deductible, then it could be time to drop full coverage.

For example, let's pretend your Nissan Altima replacement cost is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $6,000 after paying your deductible. If premium cost is more than $600 a year for physical damage coverage, then it may be the right time to buy liability only.

There are a few cases where only buying liability is not in your best interest. If you still owe money on your vehicle, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don't have enough money to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage.

Policy deductibles

A question often asked by McKinney drivers is which comprehensive and collision deductibles to buy. The comparisons below may help you to understand the rate differences of buying low and high insurance deductibles. The first rate comparisons uses a $100 deductible for physical damage and the second rate table uses a $1,000 deductible.

Kia Optima rates are for example purposes only. To get rates for your specific vehicle, click here.

Kia Optima insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $328 $592 $430 $26 $128 $1,529 $127
Optima EX $370 $698 $430 $26 $128 $1,677 $140
Optima SX $370 $698 $430 $26 $128 $1,677 $140
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Kia Optima insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $182 $312 $430 $26 $128 $1,078 $90
Optima EX $206 $368 $430 $26 $128 $1,158 $97
Optima SX $206 $368 $430 $26 $128 $1,158 $97
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Price information does not factor in specific McKinney garaging location which can affect rates significantly.

We can estimate from the data above that using a $100 deductible costs about $41 more each month or $492 for a full year than choosing the higher $1,000 deductible. Since you would pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have at least 22 months between claim filings, you would probably save some money if you opt for a higher deductible.

Gender-based car insurance rates in McKinney

The chart below shows the difference between annual premium costs for male and female drivers in McKinney. The prices are based on a clean driving record, no claims, full coverage, $1,000 deductibles, drivers are single, and no discounts are factored in on a Honda Civic LX-S.

Honda Civic rates are for example purposes only. To get rate quotes for your specific vehicle, click here.

Discount McKinney car insurance quotes

Some providers don't always publicize every disount available in a way that's easy to find, so the next list breaks down some of the more common in addition to some of the lesser obvious savings tricks you should be using when you buy McKinney car insurance online. If you aren't receiving every discount you deserve, you may be paying too high a price.Discount car insurance

Don't be surprised that most discount credits are not given to the overall cost of the policy. Some only reduce the cost of specific coverages such as comp or med pay. So even though they make it sound like you would end up receiving a 100% discount, company stockholders wouldn't be very happy.

A list of companies and the discounts they provide are included below.

When getting a coverage quote, ask every prospective company which credits you are entitled to. A few discounts might not be available to policyholders in McKinney. If you would like to view companies who offer cheap car insurance quotes in Texas, click this link.

Why you need car insurance

Despite the high cost, paying for car insurance serves several important purposes.

First, just about all states have mandatory insurance requirements which means you are required to carry specific limits of liability protection if you drive a vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if you took out a loan on your vehicle, it's most likely the lender will stipulate that you have physical damage coverage to guarantee loan repayment. If you do not keep the policy in force, the bank will be required to insure your vehicle at a more expensive rate and force you to reimburse them the higher price.

Third, car insurance protects your vehicle and your assets. It also can pay for hospital and medical expenses incurred in an accident. Liability coverage, the one required by state law, will also pay attorney fees if you cause an accident and are sued. If your car is damaged in a storm or accident, collision and comprehensive coverages will pay all costs to repair after the deductible has been paid.

The benefits of insuring your car more than cancel out the cost, specifically if you ever have a liability claim. According to a survey of 1,000 drivers, the average driver is overpaying more than $825 a year so you should quote rates at every policy renewal to ensure rates are competitive.

When to have guidance from an insurance agency

A small number of people would rather get advice from a local agent and that is a personal choice. One of the benefits of price shopping on the web is the fact that drivers can get better rates and still buy from a local agent. Buying from neighborhood insurance agencies is important especially in McKinney.

Find insurance agent in McKinneyTo make it easy to find an agent, after completing this short form, your information is submitted to insurance agents in McKinney who will return price quotes and help you find cheaper coverage. It's much easier because you don't need to find an agent on your own due to the fact that quote results will go to your email. You'll get the best rates and a licensed agent to work with. If for some reason you want to get a price quote from a particular provider, you just need to search and find their rate quote page and submit a quote form there.

Finding a good company requires you to look at more than just the price. Here are some questions you might want to ask.

Upon getting positive responses to all your questions as well as a price you're happy with, you've probably found a company that can insure your vehicles.

Vehicle claim statistics

Which vehicles statistically have the fewest claims? The statistics below list the best and worst vehicle models for the probability of having to file claims for each type of coverage.

Vehicle Make and Models with the Lowest and Highest Bodily Injury Liability Claims
Lowest Overall Losses Highest Overall Losses
Fiat 500 Kia Rio
Chevrolet Corvette Chevrolet Sonic
Volvo XC60 Kia Optima
Mercedes-Benz SL Class Chrysler 200
Audi A6 Mitsubishi Mirage
Subaru Outback Mitsubishi Lancer

Statistics from IIHS.org for 2013-2015 Model Years

Lowest and Highest Comprehensive Insurance Claims by Manufacturer Model
Lowest Overall Losses Highest Overall Losses
Ford F-350 Porsche Panamera GTS
Nissan Xterra Maserati Quattroporte
Infiniti QX50 Bentley Continental GTC
Chevy Spark Audi S7
GMC Sierra 2500 Mercedes-Benz S Class
Chevy Silverado 2500 BMW M6

Statistics from IIHS.org for 2013-2015 Model Years

Lowest and Highest Medical Payment Coverage Claims by Manufacturer Model
Lowest Overall Losses Highest Overall Losses
Ford F-250 SuperCrew Chevrolet Sonic
Ford F-350 SuperCrew Nissan Versa
Chevrolet Silverado 2500 Hyundai Accent
Chevrolet Silverado 3500 Chrysler 200
Land Rover Range Rover Sport Mitsubishi Mirage
Ford Expedition Chevrolet Spark

Statistics from IIHS.org for 2013-2015 Model Years

Lowest and Highest Collision Coverage Claims by Vehicle Model
Lowest Overall Losses Highest Overall Losses
Jeep Wrangler BMW 6 Series
Ford Edge Audi RS7
Smart ForTwo Ferrari 458
Mini Cooper Bently Continental GT
GMC Canyon Nissan GT-R
Chevrolet Colorado Bentley Continental Flying Spur

Statistics from IIHS.org for 2013-2015 Model Years