Compare the Cheapest Car Insurance Quotes in Richardson

The average cost of car insurance in Richardson is $1,349 per year, which is more than the state average. MoneyGeek analyzed the cheapest providers based on coverage amount and the driver’s profile. Farmers offers the cheapest car insurance at an average cost of $816. We also determined the best insurers who balance affordability and quality service.

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Last Updated: 5/16/2022
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Farmers is the cheapest provider in Richardson. For a state minimum policy, Farmers charges the cheapest annual cost. State Farm has the cheapest coverage for drivers with speeding tickets.

If you are part of a military family, USAA might be your best option.

MoneyGeek rated the best insurer that balances cost and customer service and found that GEICO is the best option.

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The Cheapest and Best Car Insurance in Richardson

The Cheapest Car Insurance Companies in Richardson

On average, the most affordable options for drivers looking for a full coverage policy in Richardson are:

  • Farmers: $816 per year
  • GEICO: $913 per year

Farmers is approximately 248% less expensive than a similar coverage with the city’s most expensive car insurance company, The General. A full-coverage policy includes liability, comprehensive and collision insurance in addition to any optional coverages. Your prices may change depending on how much liability insurance you choose.

Cheapest Car Insurance in Richardson
Full Coverage 100/300/100
  • Company
    100/300/100per year
  • 1.
    Farmers
    $816
  • 2.
    GEICO
    $913
  • 3.
    USAA
    $919
  • 4.
    State Farm
    $995
  • 5.
    AAA
    $1,160
  • 6.
    Allstate
    $1,193
  • 7.
    Esurance
    $1,242
  • 8.
    Nationwide
    $1,281
  • 9.
    Mercury
    $1,510
  • 10.
    MetLife
    $1,544
  • 11.
    The General
    $2,842

MoneyGeek’s analysis is based on average rates for a 40-year-old male driver in Richardson with a full coverage policy, in accordance with our methodology.

A full coverage policy is more expensive than a liability-only coverage or a policy that only meets the state’s minimum requirements because it also includes comprehensive and collision insurance. Having these provides more financial protection to the policyholder in the event of an accident.

  • Comprehensive Insurance: Covers payments for the repair or replacement of your vehicle if it gets damaged due to a non-accident incident.
  • Collision Insurance: Helps cover fees for the repair or replacement of your vehicle if it gets damaged in an accident in an at-fault accident.

If you have an older car, your best option might be to buy liability-only insurance or the state minimum to get the cheapest rates. This way, you won’t spend more on insurance than your car is worth.

Compare Car Insurance Rates in Richardson

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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Insurance Rates

Cheapest Car Insurance in Richardson for Minimum Coverage

​​State minimum policies offer the cheapest car insurance rates because these do not include comprehensive and collision coverages. Unfortunately, this exposes the policyholder to financial risks in an accident.

On average, the most affordable options for drivers in Richardson are:

  • Farmers: $433 per year
  • GEICO: $514 per year

If you have a military background or are part of a military family, you could be eligible for USAA. This is the second cheapest car insurance company at around $443 per year.

Farmers offers the most affordable coverages and policies. It is $981 less expensive on average than a similar coverage with the city’s most expensive car insurance company, The General. Although minimum coverage is generally the cheapest option, it may not cover all of your expenses after an accident.

Toggle the table below to see how costs change depending on liability coverage.

Cheapest Minimum Liability Car Insurance in Richardson
State Minimum

While the minimum car insurance in Texas is the cheapest insurance you can buy in Richardson, it also offers the least protection. It only includes 30/60/25 limits and $2,500 in personal injury protection.

This cheaper option may help you save on your monthly bill, but it might cause you to pay more should an accident occur. For example, if you are at fault for $75,000 in medical bills after an accident and you only have $60,000 in bodily injury liability insurance, then you would have to pay $15,000 out of pocket.

Texas Minimum Liability Requirements

  • Item
    Description
  • 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.

Cheapest Car Insurance in Richardson if You Have Driving Violations

If you have driving violations, your car insurance rates might go up. On average, the top providers in Richardson with the cheapest rates for drivers with violations are:

  • Cheapest after a ticket: State Farm at $995 per year
  • Cheapest after an at-fault accident: Farmers at $1,160 per year
  • Cheapest after a DUI: Farmers at $1,201 per year

Someone with a poor driving history can improve their records over time and get cheaper insurance. In the meantime, it makes sense to shop around and find out which company can give the best deal.

Cheapest Car Insurance in Richardson With a Violation
Speeding Ticket

Average Cost of Car Insurance in Richardson

Richardson$1,349
Texas$1,316
U.S.$1,424

The average annual cost of car insurance in Richardson is $1,349, which is higher than the state average annual premium but cheaper than the national average. Drivers in Richardson pay about 2.5% more than the average annual cost of car insurance in Texas and 5.3% less than the national average.

Personalized Quotes to Get You the Cheapest Car Insurance in Richardson

Providers rely on several factors when determining your car insurance quotes, such as the driver’s age and gender, the make and model of the vehicle, insurance coverage level and ZIP code.

Make sure you shop around and compare quotes from multiple providers to determine which insurer charges the lowest premiums. We also recommend that you regularly ask for a personalized quote as your circumstances change.

Compare Car Insurance Rates in Richardson

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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Insurance Rates

The Best Car Insurance Companies in Richardson

MoneyGeek ranked the best insurance companies in Richardson if you want a balance between price and service quality.

Our analysis revealed that the best insurers are:

  • GEICO: MoneyGeek score of 85 out of 100
  • State Farm: MoneyGeek score of 85 out of 100

USAA received the highest ratings and is the top choice for military personnel and their families.

We calculated these scores based on several data points, including J.D. Power user satisfaction, affordability, and financial stability.


1
USAA
Score:100

5/5

Affordability

5/5

Claims Ratings

5/5

User Satisfaction

A++

Financial Stability

2
GEICO
Score:85

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

3
State Farm
Score:85

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

4
Auto Club of Southern California Insurance Group
Score:85

5/5

Affordability

2/5

Claims Ratings

3/5

User Satisfaction

A+

Financial Stability

5
Allstate
Score:80

3/5

Affordability

2/5

Claims Ratings

3/5

User Satisfaction

A+

Financial Stability

6
Progressive
Score:80

3/5

Affordability

3/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

7
Nationwide
Score:80

2/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A+

Financial Stability

8
Farmers
Score:77.5

2/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

9
Liberty Mutual
Score:72.5

2/5

Affordability

2/5

Claims Ratings

2/5

User Satisfaction

A

Financial Stability

Average Cost of Car Insurance by Postal Code

Your ZIP code also has a bearing on how much your premium costs in Texas. This is because insurance providers typically factor in the number of uninsured drivers, accidents, and incidents of car theft in the area to evaluate how risky it is to cover you.

However, in Richardson, differences in average premiums based on ZIP code are not significant. For instance, drivers living in ZIP code 75080 could pay up to $57 less than someone from ZIP code 75081.

  • Zip Code
    State Minimumper year
  • 75080
    $1,321
  • 75081
    $1,378

Factors That Impact Insurance Costs in Richardson

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 Richardson. How Richardson ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.

accident2 icon
Most Accidents With Fatalities229th/300
handcuffs2 icon
Most Car Thefts144th/300
uninsured icon
Most Uninsured Motorists by State16th/50
insurance2 icon
Personal Injury Protection RequiredNo
rain icon
Most Annual Rainfall142nd/300
umbrella icon
Most Rainy Days190th/300

Methodology and Assumptions

MoneyGeek’s average premium rates for Richardson 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


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.