One of the more important considerations that determine the amount you pay for auto insurance is where you live in Killeen. Regions with larger populations or more claims will most likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of cheap car insurance rates.
The following table lists the most expensive cities in Texas to buy an auto insurance policy in. Killeen is ranked #25 with an annual cost of $1,488 for car insurance, which is approximately $124 monthly.
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Rate quotes are comparative as specific location information can raise or lower premiums substantially.
Now that we see where Killeen ranks for price, deciding which companies have the lowest-priced car insurance rates in Killeen will require a little more work than just comparing a company or two.
Every auto insurer uses a different method for filing rates in each state, so to begin we'll rank the overall cheapest car insurance companies in Killeen. It's a good idea to be aware that Killeen car insurance rates are impacted by many things which can substantially decrease or increase the cost of coverage. Improving your credit score, buying a home, or getting a driving violation can trigger changes in premium resulting in some companies being cheaper than others.
Best Insurance Companies in Killeen
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,211|
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Travelers offers some of the cheapest car insurance rates in Killeen at around $1,021 per year. This is $883 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also some of the cheapest Killeen, TX auto insurance companies.
As illustrated above, if you are a policyholder with Texas Farm Bureau and switched to Travelers, you might achieve a yearly savings of around $190. Texas drivers with Germania Mutual might save as much as $235 a year, and Esurance policyholders might see rate reductions of $400 a year.
If you would like to find cheaper car insurance rates, click here or feel free to get quotes from the companies below.
Remember that these rates are averages for all types of drivers and the different vehicles they drive and do not factor in a vehicle location in Killeen. So the insurer that is best suited for you may not even be in the top 23 companies shown above. That emphasizes why you need to compare rates from as many companies as possible using your own specific driver and vehicle information.
The vehicle model on the policy is one of the biggest factors that determines whether or not you can buy the best car insurance in Killeen. Vehicles with limited speed and performance, a great safety record, or a low likelihood of having liability claims will cost significantly less to insure than higher performance models.
The next table outlines insurance prices for a handful of the most budget-friendly automobiles to buy insurance for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Jeep Wrangler Sport 4WD 2-Dr||$851|
|Ford Escape Limited 4WD||$894|
|Dodge Grand Caravan CV||$920|
|Hyundai Elantra GLS Touring Station Wagon||$929|
|Honda CR-V EX-L 4WD||$953|
|Chevrolet Impala LS||$955|
|Ford Focus S 4-Dr Sedan||$960|
|Toyota RAV4 Limited 4WD||$974|
|Honda Accord EX-L 4-Dr Sedan||$982|
|Chevrolet Malibu LT||$992|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,002|
|Ford Explorer Eddie Bauer AWD||$992|
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Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Rate quotes do not factor in specific location which can alter coverage rates significantly.
By looking at the data, we can conclude that models like the Jeep Wrangler, Ford Escape, and Dodge Grand Caravan are going to be the most economical vehicles to insure for drivers in Killeen.
The chart below demonstrates how choosing different deductibles can increase or decrease insurance premiums when trying to find cheap insurance in Killeen. The premiums assume a married female driver, full physical damage coverage, and no additional discounts are factored in.
In the chart above, a 30-year-old driver could lower their policy premium by $362 a year by switching from a $100 deductible up to a $500 deductible, or save $546 by switching to a $1,000 deductible. Even younger drivers, like the 20-year-old category, could potentially save up to $772 or even more just by choosing higher deductibles. When insureds make the decision to increase the deductibles on their policy, it is a good idea to have enough spare savings to pay the extra out-of-pocket expense that comes with higher deductibles.
Full coverage versus liability only rates
Saving money when shopping for insurance should be important to the majority of drivers, and one easy way to buy cheaper insurance in Killeen is to not pay for full coverage. The information below illustrates the comparison of car insurance rates with full physical damage coverage compared to only buying liability only. The premium estimates are based on a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are not married, and no discounts are applied.
As an average for all age groups, comp and collision coverage costs an extra $1,598 per year over liability only. At some point, every insured wonders when is it safe to stop buying full coverage. There is no definitive rule of when to drop physical damage coverage on your policy, but there is a guideline you can consider. If the yearly cost of full coverage is more than about 10% of the settlement you would receive from your company, then you might consider buying liability only.
For example, let's assume your vehicle's replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $2,000 after paying your policy deductible. If it's costing in excess of $200 a year to have full coverage, then you might consider buying liability only.
There are a few cases where dropping full coverage is not financially feasible. If you still have a lienholder on your title, you must maintain physical damage coverage to protect the lienholder's interest. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.
How to find economical car insurance in Killeen
It's not impossible to find cheaper rates, and here are some of the recommended penny-pinching ideas that can help Killeen drivers locate cheap car insurance.
- Drivers with good credit often pay less
- If possible, pay for small claims out-of-pocket
- Safer vehicles generally have cheaper insurance rates
- Buying your home and auto policies from the same company can earn a discount
- Do not pay for comprehensive and collision coverage on older vehicles
- Increase deductibles to save money
- Shop around for cheaper prices
The last item on the list is highly crucial, as we hit on in this article. Auto insurance prices vary greatly, so don't be tentative to change insurance companies if a cheaper rate is available. Brand loyalty is not necessarily bad, but it's not a great idea if your bullheadedness ends up costing you several hundred dollars every year. It only takes a couple minutes to compare prices and find cheaper auto insurance in Killeen.