Cheapest and Best Car Insurance in Richardson, TX (August 2024)

In Richardson, Texas, the most cost-effective car insurance varies based on coverage and driver specifics. Texas Farm Bureau leads in minimum and full coverage affordability, while families with teens find Nationwide affordable. Chubb is celebrated for its sterling customer service and is the pick for the overall best insurer. Know your coverage needs and personal preferences to determine your ideal insurance match.

MoneyGeek found that Texas Farm Bureau is the cheapest car insurance in Richardson for minimum coverage.

• Texas Farm Bureau: $383 per year
• Mercury: $522 per year

Dairyland has the most expensive minimum coverage policy in Richardson, with an annual premium of $2,446. The difference between the highest and lowest policies emphasizes the importance of comparing rates to find the most affordable for your needs.

State-decreed insurance minimums govern the coverage of drivers in Texas. Here's a quick breakdown:

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

Suppose you're at fault in a car mishap, and the other driver's injuries total $40,000. Your policy would only cover up to $30,000, while the remaining $10,000 is on you. Similarly, if the injuries for all involved exceed $60,000, expect to dip into your pockets to balance the costs. These are just the baseline requirements and should be adjusted based on the roads you travel.

Texas Farm Bureau also offers the cheapest full coverage car insurance in Richardson, Texas.

• Texas Farm Bureau: $805 per year
• State Farm: $1,122 per year

Dairyland is the priciest, with an annual premium of $4,591, illustrating a $3,786 difference compared to the cheapest. Remember that full coverage policies are naturally costlier than minimum coverage due to their comprehensive protection.

A full coverage policy includes coverage for damage to your vehicle in the form of comprehensive and collision coverages. It usually also includes increased liability limits.

• Collision Insurance: This provides coverage for your vehicle in the event of a collision, whether with another car or a stationary object like a tree or light pole. It also covers rollover accidents and pothole damage.
• Comprehensive Insurance: This coverage insures your vehicle against various types of damage not caused by collisions, including theft, vandalism, fires, natural disasters and being struck by an animal like a deer.

Full coverage insurance is valuable to those with a new vehicle, a lease or a car loan. However, owners of older vehicles may find the additional expense less justifiable. When determining how much car insurance you need, consider both the premium increases and the risks of being underinsured.

MoneyGeek found that Texas Farm Bureau offers the cheapest option in Richardson for drivers with these three infractions:

• Speeding Ticket: $805 per year
• At-Fault Accident: $1,333 per year
• DUI: $1,614 per year

Dairyland consistently shows the most expensive rates for drivers after these infractions. It's worth noting that the severity of offenses can significantly alter auto insurance rates, with the cheapest coverage after a DUI being $809 more annually than after a speeding ticket.

Insurance rates in Richardson and other cities typically increase with the severity of the driving offense due to the higher risk. Drivers caught speeding may face an average annual premium of $3,073, while those with a DUI can expect a considerably higher rate of $3,807. Drivers with offenses must compare insurance rates to find the most competitive offer and still save on costs.

MoneyGeek found that Nationwide offers the cheapest car insurance for teens in Richardson.

• Nationwide: $1,687 per year for female teens and $1,923 per year for male teens
• State Farm: $2,073 per year for female teens and $2,507 per year for male teens

These rates cover two parents and a teenager. Allstate holds the spot for the most expensive teen family policy in Richardson at $6,588 annually for females. The difference of $4,901 between the cheapest and most expensive underscores the importance of comparing rates when adding high-risk drivers like teenagers to an insurance policy.

In many cities, teen drivers pay higher car insurance premiums for individual policies rather than a family plan. On average, an individual teen's annual premium is a steep $7,514, while a family policy is more affordable at $3,809. The high rates and the challenge in getting approved for individual policies are due to insurers perceiving teen drivers as high-risk. They can leverage family insurance to avoid excessive costs and potential underwriting hurdles.

MoneyGeek found that Texas Farm Bureau offers the most affordable cheapest car insurance for military backgrounds in Richardson.

• Texas Farm Bureau: $805 per year
• USAA: $1,047 per year

Texas Farm Bureau may be the least expensive option, but USAA is notable for being one of the most cost-effective insurers and providing tailored services to active duty military members with unique needs.

Car insurance rates comparison is a sound strategy for saving money, but it can take time and effort. However, MoneyGeek's car insurance calculator can streamline this process by getting essential information such as age, driving history, credit score and desired coverage level. Richardson drivers will receive tailored rate estimates promptly to help them make informed decisions.

The best auto insurance in Richardson balances service, cost, coverage and other factors. MoneyGeek's evaluation system ranks Chubb as the top company in these three distinct areas:

• Best overall: 91 out of 100
• Best for service: 92 out of 100
• Best cheap: 90 out of 100

Chubb leads thanks to its overall value, outstanding service and affordability. With high scores across all categories, it is the go-to for comprehensive car insurance needs.

MoneyGeek found that Chubb offers the best best car insurance in Richardson, providing top-notch service and comprehensive coverage for motorists.

• Chubb: MoneyGeek score of 91 out of 100 ($1,796 per year)
• State Farm: MoneyGeek score of 74 out of 100 ($1,122 per year)

Chubb combines high customer satisfaction and claims, contributing substantially to its MoneyGeek score. Its full coverage options strike a balance between comprehensive protection and value.

MoneyGeek found that Chubb is the best option in Richardson for superior car insurance and exceptional service. General satisfaction, claims handling and comprehensive coverages forge the foundation of its ratings.

• Chubb: MoneyGeek score of 92 out of 100 ($1,796 per year)
• Foremost: MoneyGeek score of 77 out of 100 ($2,606 per year)

As the top performer in Richardson, Chubb underscores the importance of a holistic approach to customer experience in the insurance industry.

MoneyGeek found that Chubb is the best option in Richardson for cheap car insurance.

• Chubb: MoneyGeek score of 90 out of 100 ($845 per year)
• Mercury: MoneyGeek score of 78 out of 100 ($522 per year)

Chubb balances affordability and customer satisfaction. A high score of 90 demonstrates its reliability in claims handling and overall customer contentment for a minimum coverage policy.

In Richardson, Texas, the average cost of car insurance is $1,884 annually, $101 above the $1,782 average car insurance cost in Texas. Meanwhile, Texas' average cost is marginally higher by $1 when compared to the national average premium of $1,781.

Car insurance rates are influenced by various factors, one of which is location. The costs can differ depending on a city's traffic density, accident rates and theft incidents, among other risks. Data reveals that in Texas, Houston has the most expensive premium at $2,177, which outstrips the state average by $395. In contrast, Wichita Falls has the cheapest premium at $1,414, undercutting the state average by $368. Non-city areas with lower traffic density may have more favorable rates.