McKinney’s average car insurance cost of $1,210 yearly is lower than the state average. MoneyGeek rated various insurers in McKinney based on the coverage level and driver profile and found that the cheapest widely available insurer is Farmers. If you’re looking for affordable insurance with great quality, MoneyGeek recommended the best insurers in McKinney.
Compare the Cheapest Car Insurance Quotes in McKinney, TX
The Cheapest and Best Car Insurance in McKinney
The Cheapest Car Insurance Companies in McKinney
For a full coverage car insurance policy in McKinney, the following insurers are the most affordable:
- Farmers: $740 annually
- USAA: $798 annually (only serving current and former military members)
In McKinney, drivers who opt for a Farmers car insurance policy are likely to have the most affordable average annual premiums, at about $740. In contrast, McKinney’s most expensive car insurance provider is The General, with an average yearly cost of $2,257, more than three times the price of a typical Farmers policy.
MoneyGeek’s sample profile for this study was a 40-year-old male driver with a full coverage policy, including liability and comprehensive collision coverage.
Average Cost of Car Insurance in McKinney
The average cost of car insurance in McKinney is about $1,210 per year. Drivers in McKinney usually pay about 8.1% less per year than the state average of $1,316. They also typically pay 15% less than the national average yearly amount of $1,424.
The Best Car Insurance Companies in McKinney
For drivers in McKinney looking for a balance of affordability and service, MoneyGeek rated the best insurance companies. The top two companies in the city for most drivers are:
- GEICO: MoneyGeek score of 85 of 100
- State Farm: MoneyGeek score of 85 of 100
USAA received the highest score in McKinney by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
MoneyGeek used information from J.D. Power user satisfaction ratings, financial strength and affordability to determine scores out of 100 points.
Personalized Quotes to Get You the Cheapest Car Insurance in McKinney
Insurers in McKinney calculate car insurance premiums by assessing risk from several individual factors. These can include your age, gender, marital status, credit score and driving history. As your situation changes with respect to these parameters, your rates can also change. You can even become eligible for rebates and discounts.
The best way to get the most accurate rate at any time is to compare personalized quotes from multiple providers regularly.
Shopping around for car insurance in McKinney could save you $470, which is enough to buy:
Cheapest Car Insurance in McKinney by Coverage Amount
In McKinney and elsewhere, one of the factors affecting the cost of insurance is the amount of coverage that you buy. While a state minimum liability plan covering bodily injuries and property damages costs $630 in McKinney, a full coverage policy with higher liability limits costs $1,210 yearly. This is a difference of $580.
Texas Minimum Liability Requirements
- Bodily Injury and Property Damage$30,000 per person, $60,000 per accident and $25,000 for property damage. A more protective level is 100/300/100.
You have the option to choose between different coverage levels while getting car insurance in McKinney. The cheapest car insurance option would be a state minimum liability plan from Farmers, typically coming in at an average cost of $394 per year. However, you can also opt to purchase additional coverage. A 50/100/50 liability-only or full-coverage plan allows you to claim $50,000 for medical costs per person and $100,000 per accident, along with $50,000 for property damage.
With a full-coverage plan, you receive coverage for your own expenses in the event of an accident. However, you need to account for the extra cost that is involved with a full-coverage policy. For example, a 50/100/50 liability-only plan from State Farm typically comes with an average annual premium of $539. To get a full-coverage plan, you would have to add about $255.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- Company50 / 100 / 50per year100 / 300 / 100per year
Cheapest Car Insurance in McKinney if You Have Driving Violations
You can keep your car insurance costs in check if you have no violations on your driving record. Speeding tickets, at-fault accidents and DUIs can cause your rates to spike. A driver in McKinney with a clean record can get a rate of about $925 per year from GEICO. The rate increases by $158 on average if the driver has a speeding ticket. Similarly, an at-fault accident on the record would add about $385 and a DUI would add $698 on average.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
Average Cost of Car Insurance by Postal Code
The neighborhood you live in can have an impact on your car insurance costs in McKinney. There is roughly a $48 difference between McKinney’s cheapest and most expensive areas for auto coverage. Drivers in ZIP code 75070 typically pay about $1,186 every year, while drivers in ZIP code 75071 pay $1,234 annually on average.
- Zip CodeState Minimumper year
Factors That Impact Insurance Costs in McKinney
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of car thefts also contribute to car insurance rates in McKinney. How McKinney ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for McKinney are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
About the Author