Cheapest and Best Car Insurance in McKinney, TX (2024)


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In McKinney, finding the most cost-effective insurance hinges on your coverage and driver profile. Texas Farm Bureau offers the most affordable full coverage, while Nationwide is the cheapest for families with teens, different from the minimum coverage leader. The top-rated company for customer service and overall best value for the balance between affordability and service is Chubb. Identifying the best provider for your personal preferences and coverage requirements is essential.

MoneyGeek Logo IconBest & CheapestCar InsuranceMcKinney
2024

Cheapest and Best Car Insurance in McKinney

Why Trust MoneyGeek? We analyzed 328,384 quotes in Texas, including the city of McKinney, from 14 companies. We used six sources and original research to rate the cheapest companies and develop a scoring system for McKinney insurance providers based on ZIP codes in the city only. Our scores are based on affordability, customer satisfaction, claims experience, coverages offered, and financial stability.

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These rates reflect the cheapest car insurance quotes in McKinney, TX, as of August 2024.

328,384Quotes Analyzed
 
14Companies Compared

Cheapest Minimum Liability Car Insurance in McKinney

MoneyGeek found that Texas Farm Bureau offers the cheapest car insurance in McKinney, ensuring great savings for drivers seeking minimum coverage.

  • Texas Farm Bureau: $410 per year
  • State Farm: $473 per year

Dairyland has the most expensive minimum coverage policy in McKinney at $2,091 per year. This rate is $1,681 more than Texas Farm Bank, the cheapest option, highlighting the significant importance of comparing car insurance rates to ensure you're not overpaying.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Minimum Coverage
Texas Farm Bureau$410$34
State Farm$473$39
Mercury$489$41
Progressive$612$51
AAA Texas$664$55
National General$665$55
Allstate$824$69
Chubb$826$69
GEICO$836$70
Nationwide$1,112$93
Foremost$1,145$95
Dairyland$2,091$174

For Texans from Dallas to McKinney, state law dictates the minimum car insurance required. Here's what you need:

  • $30,000 bodily injury per person
  • $60,000 bodily injury per accident
  • $25,000 property damage liability per accident

Consider this: if you hold the minimum coverage and are at fault in an accident, insurance will cover up to $30,000 for an individual's injuries and up to $60,000 total for injuries per accident. But if costs exceed these limits, you'll be reaching into your own pocket to make up the difference.

Cheapest Full Coverage Car Insurance in McKinney

MoneyGeek found that Texas Farm Bureau offers the cheapest full coverage car insurance in McKinney, with rates that are hard to beat. Here's a quick glance at the top two most affordable providers:

  • Texas Farm Bureau: $848 per year
  • State Farm: $990 per year

Dairyland has the most expensive full coverage policy in McKinney, with an annual rate of $4,124, illustrating the significance of comparing quotes since full coverage is more costly due to its comprehensive protection against a variety of road incidents.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
Texas Farm Bureau$848$71
State Farm$990$82
Progressive$1,273$106
AAA Texas$1,319$110
National General$1,485$124
GEICO$1,489$124
Allstate$1,552$129
Chubb$1,658$138
Mercury$1,753$146
Nationwide$2,017$168
Foremost$2,416$201
Dairyland$4,124$344

The MoneyGeek prototype policy for comprehensive coverage in McKinney enhances your liability limits well above the state's minimum requirements. It elevates them to $100,000 for bodily injury per individual, $300,000 for bodily injury per mishap and $100,000 for property damage per event. It's commonly referred to as a 100/300/100 plan.

A full coverage policy comes with the added advantage of two key components: comprehensive and collision coverage.

  • Collision Insurance: This facet of your coverage takes responsibility for mending your car if it's damaged due to a crash, whether it collides with another car or an object like a tree or light pole. It also covers rollover accidents and pothole damage.

  • Comprehensive Insurance: It handles repairs to your vehicle for nearly everything else that isn't collision-related, such as theft, vandalism, or natural disasters and being struck by an animal like a deer.

Securing full coverage insurance is especially prudent for new car owners to protect your auto investment against unpredictable financial pitfalls. Conversely, if your vehicle is older, weighing the cost of additional coverage against its value is critical.

Making an informed decision about how much car insurance you need is a delicate balance: Opting for higher coverage could mean steeper premiums, but going with less could leave you vulnerable and underinsured. If you're leasing or have a car loan, you are typically required to carry full coverage insurance

Cheapest Car Insurance in McKinney After a Driving Offense

MoneyGeek found that the Texas Farm Bureau is the cheapest companies for drivers with a poor driving record in McKinney, offering lower rates for drivers with speeding tickets.

  • Speeding Ticket: Texas Farm Bureau ($848 per year)
  • At-fault accident: State Farm ($1,237 per year)
  • DUI: Progressive ($1,522 per year)

Conversely, Dairyland tends to have the most expensive rates for drivers with infractions. The severity of an offense can impact insurance rates.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
Incident:
Incident:Speeding
Texas Farm Bureau$848$71
State Farm$990$82
Allstate$1,552$129
Progressive$1,653$138
AAA Texas$1,714$143
GEICO$1,737$145
Chubb$1,875$156
National General$1,981$165
Nationwide$2,351$196
Mercury$2,512$209
Foremost$2,810$234
Dairyland$5,134$428

Insurance rates in McKinney and other cities often increase with the severity of driving offenses because insurers view higher-risk drivers as more likely to file claims. For instance, individuals with a speeding ticket face an average annual premium of $2,847, whereas those with a DUI offense may see rates around $3,552. Consequently, drivers with any offenses on their record can benefit significantly from comparing insurance rates to find the most forgiving policies, potentially saving them hundreds of dollars annually.

Cheapest Car Insurance in McKinney for Teens and Their Families

MoneyGeek found that Nationwide offers the most affordable full coverage car insurance for teens in McKinney.

  • Nationwide: $1,567 per year for female teens and $1,786 per year for male teens
  • State Farm: $1,805 per year for female teens and $2,182 per year for male teens

These competitive rates for Nationwide and State Farm underscore the financial benefit of comparing insurance policies, especially in households adding a teen driver. Allstate emerges as the priciest option in McKinney, with the annual premium for a female teen reaching $6,242. This substantial rate difference, amounting to $4,675 compared to Nationwide, highlights the critical importance of shopping around to find the best deal for families with higher-risk teen drivers on their policy.

Data filtered by:Results filtered by:
Age:
Age:16
Gender:
Gender:Female
Nationwide$1,567$3,879
State Farm$1,805$2,534
GEICO$2,493$3,451
Foremost$3,296$9,317
Progressive$3,559$10,607
Allstate$6,242$7,259

In McKinney and similar locales, the disparity in car insurance premiums for teenagers is substantial. On average, an individual policy costs a staggering $6,945 annually, whereas teenagers included in a family plan pay an average of $3,550 — a difference of $3,395. The higher rates for individual teen policies reflect the elevated risk insurers associate with young, inexperienced drivers. Moreover, obtaining approval for these policies can be difficult for teens, as providers seek to mitigate potential claims by encouraging family plans that spread out the risk.

Cheapest Car Insurance in McKinney for Military Drivers

MoneyGeek found that Texas Farm Bureau is the cheapest option in McKinney for cheapest car insurance for military backgrounds. Here are the two most affordable providers:

  • Texas Farm Bureau: $848 per year
  • State Farm: $990 per year

Although USAA is not the cheapest in this dataset with an annual premium of $1,054, it is important to recognize that USAA specializes in servicing active duty military members, offering tailored coverage that may be worth the slightly higher rates for many service members in McKinney.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
Texas Farm Bureau$848$71
State Farm$990$82
USAA$1,054$88
Progressive$1,273$106
AAA Texas$1,319$110
National General$1,485$124
GEICO$1,489$124
Allstate$1,552$129
Chubb$1,658$138
Mercury$1,753$146
Nationwide$2,017$168
Foremost$2,416$201
Dairyland$4,124$344

How to Compare Cheap McKinney Car Insurance Quotes Online

You can use MoneyGeek's car insurance calculator to get a quote. Simply input critical details such as age, driving history, credit score and desired coverage, and promptly receive a tailored rate estimate, thereby optimizing your time and savings on car insurance.

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Rates updated:

Dec 06, 2024

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Best Car Insurance in McKinney: Overview

Finding the best auto insurance for you depends on your priorities around service, cost, coverage, and various other factors. MoneyGeek uses distinct scoring systems to assess providers in different categories, recognizing that different drivers value different aspects of insurance.

  • Best overall: Chubb (MoneyGeek score 91 out of 100)
  • Best for service: Chubb (MoneyGeek score 92 out of 100)
  • Best cheap: Chubb (MoneyGeek score 90 out of 100)

Chubb emerges as the unequivocal leader in McKinney, excelling for overall value, customer service, and affordability. This provider is particularly suitable for those seeking well-rounded excellence in their car insurance, delivering consistently across multiple dimensions without compromising on quality or experience. Customers can expect to benefit from top-tier service backed by strong performance in claim handling and stability.

Overall Best Car Insurance in McKinney

MoneyGeek found that Chubb is the leading provider of the best car insurance in McKinney. Recognized for their exceptional service and competitive rates, the top two companies are:

  • Chubb: MoneyGeek score of 91 out of 100 ($1,658 per year)
  • State Farm: MoneyGeek score of 75 out of 100 ($990 per year)

Chubb is committed to providing comprehensive coverage and reliable support to policyholders.

Company logo for Chubb
Best OverallChubb
MoneyGeek Score:
91/ of 100

Overview

Chubb's high MoneyGeek score is predominantly influenced by excellent claims handling and high satisfaction rates. The company provides both common coverages, offering both rental car and/or travel reimbursement and roadside assistance. Additionally, Chubb offers valuable reasonably common coverages like OEM coverage, which appeals to those who prefer their vehicle repaired with original manufacturer parts. Despite missing certain rare coverages, Chubb remains a top choice due to its overall performance in key MoneyGeek score areas.

The OEM coverage ensures repairs maintain the integrity and value of a vehicle using original parts. For those concerned about their car's value post-accident, Chubb's diminished value coverage can provide peace of mind by compensating for lost value.

Best Car Insurance in McKinney for Customer Service

MoneyGeek found that Chubb is the best option in McKinney for car insurance based on customer service. This assessment prioritizes general satisfaction, claims handling, and the breadth of coverages provided, setting aside cost considerations.

  • Chubb: MoneyGeek score of 92 out of 100 ($1,658 per year)
  • Foremost: MoneyGeek score of 77 out of 100 ($2,416 per year)

Chubb stands out with the highest marks in claims satisfaction and stability within McKinney, which are substantial factors contributing to its stellar MoneyGeek score. Customers looking for reliable service and comprehensive coverage should consider Chubb when seeking an insurer.

Company logo for Chubb
Best for Customer ServiceChubb
MoneyGeek Score:
92/ of 100

Overview

Chubb achieves its impressive MoneyGeek score largely due to its top-rated claims and satisfaction; both indicating its commitment to customer contentment. While Chubb provides the common coverages of rental car and/or travel reimbursement and roadside assistance, marking a positive for convenience, it does lack some reasonably common coverages which is a slight negative. Nevertheless, Chubb remains a great option with its overall high scores.

Best Cheap Car Insurance Companies in McKinney

MoneyGeek found that Chubb offers the best cheap car insurance in McKinney, balancing an impressive blend of affordability and customer satisfaction. Below are the two top providers based on their stellar performance:

  • Chubb: MoneyGeek score of 90 out of 100 ($826 per year)
  • Mercury: MoneyGeek score of 78 out of 100 ($489 per year)

Chubb stands out primarily due to its exceptional claims handling and customer satisfaction scores, which play a significant role in its overall MoneyGeek score.

Company logo for Chubb
Best Cheap CompanyChubb
MoneyGeek Score:
90/ of 100

Overview

Chubb stands out for its exceptional claims score, contributing significantly to its high MoneyGeek Score. With an average annual premium of just $826, Chubb ensures that the average driver pays surprisingly little for minimum coverage. The company's defensive driving discount is reasonably common, while discounts for anti-theft systems are also offered, benefiting security-conscious drivers.

Chubb showcases a broad spectrum of discounts, including all four of the most common: bundling, multiple car and safe driving. This speaks to the insurer's breadth of discounts, appealing to a wide range of customers.

Average Cost of Car Insurance in McKinney

In McKinney, Texas, the average cost of car insurance per year stands at $1,745. This figure is just slightly lower than the average car insurance cost in Texas, which is $1,782 annually. Comparatively, Texas's average is nearly on par with the national average, which is $1,781, indicating only a $1 difference in favor of the national rate.

Car insurance premiums are determined by various factors, with location playing a significant role. The geographic area where a vehicle is insured affects rates due to differences in traffic density, the likelihood of accidents and local crime rates.

According to MoneyGeek's analysis, in Texas, the city with the most expensive average insurance premium is Houston, costing $2,177 annually. Contrastingly, Wichita Falls offers the cheapest premium at just $1,414. This substantial $763 difference illustrates the impact location has on insurance costs. Furthermore, in non-urban areas with lower traffic density, rates could potentially be even more affordable.

Abilene$1,484
Allen$1,750
Amarillo$1,790
Arlington$1,740
Austin$1,727
Beaumont$1,851
Brownsville$1,845
Carrollton$1,882
College Station$1,537
Corpus Christi$1,664
Dallas$1,966
Denton$1,669
El Paso$1,603
Fort Worth$1,728
Frisco$1,751
Garland$1,971
Grand Prairie$1,922
Houston$2,177
Irving$1,890
Killeen$1,551
Laredo$1,816
League City$1,835
Lewisville$1,700
Lubbock$1,598
McAllen$1,996
McKinney$1,745
Mesquite$1,960
Midland$1,532
Odessa$1,658
Pasadena$1,906
Pearland$1,967
Plano$1,819
Richardson$1,884
Round Rock$1,620
San Angelo$1,458
San Antonio$1,791
Sugar Land$1,868
The Woodlands$1,877
Tyler$1,635
Waco$1,519
Wichita Falls$1,414

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.