Life would sure be easier if we could tell you the single best car insurance company that has the cheapest rate quotes in Texas. It’s just not that easy, however, as there are a lot of unknown aspects like whether you are a man or a woman, if you are currently insured, what liability limits you need, and if you own or rent your home. We will try to teach you about the best ways to shop for cheaper coverage and should give you a good start in finding the cheapest car insurance.
Deciding which companies offer the most affordable auto insurance rates for hybrid vehicles requires more work than just quoting one company’s rates. Each insurer has their own unique process for determining rates in each state, so let’s rank the auto insurance companies that tend to be cheaper in Austin.
We do need to point out that Texas auto insurance rates are impacted by many factors that control the price of coverage. Turning one year older, getting divorced, or getting a speeding ticket can produce rate changes that can cause some rates to be cheaper than competitors.
Best Cheap Insurance Rates for Hybrids
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,041 |
| 2 | USAA | $1,117 |
| 3 | Texas Farm Bureau | $1,199 |
| 4 | Germania Mutual | $1,282 |
| 5 | Esurance | $1,365 |
| 6 | California Casualty | $1,438 |
| 7 | Mercury | $1,461 |
| 8 | State Farm | $1,465 |
| 9 | Safe Auto | $1,597 |
| 10 | Nationwide | $1,600 |
| 11 | Allstate | $1,667 |
| 12 | Progressive | $1,715 |
| 13 | Amica | $1,757 |
| 14 | Home State | $2,092 |
| 15 | GEICO | $2,156 |
| 16 | MetLife | $2,227 |
| 17 | Encompass | $2,232 |
| 18 | Unitrin | $2,333 |
| 19 | 21st Century | $2,469 |
| 20 | Titan | $2,646 |
| Find Cheaper Rates Go | ||
Travelers may have some of the lowest car insurance rates in Austin at around $1,041 a year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the cut as some of the most economical Austin, TX auto insurance companies.
As the example above demonstrates, if you currently buy coverage from Germania Mutual and switched to USAA, you might realize an annual savings of approximately $165. Insureds with Esurance could save as much as $248 a year, and California Casualty customers might realize rate reductions of up to $321 a year.
It’s important to note that these premium estimates are averages for all types of drivers and the different vehicles they drive and and are not figured with an exact vehicle garaging location for hybrid vehicles. So the car insurance company that fits your situation best may not even be in the top 23 companies shown above. That illustrates why you need to compare rates from as many companies as possible using your own driver data and vehicle information.
The car, truck, or SUV on the policy is a large factor that determines whether or not you can buy the best cheap car insurance for hybrid vehicles. Vehicles with reasonable performance levels, a great safety record, or a positive history of liability claims will cost quite a bit less to insure than high performance models. The table below shows auto insurance premiums for some of the most cost-effective vehicles to insure.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Odyssey LX | $1,016 |
| Chevrolet Silverado LS Regular Cab 4WD | $1,024 |
| Ford Escape XLS 4WD | $1,062 |
| Honda Accord EX 4-Dr Sedan | $1,071 |
| Honda CR-V EX-L 4WD | $1,086 |
| Jeep Grand Cherokee Laredo 4WD | $1,097 |
| Toyota Camry LE | $1,103 |
| Chevrolet Malibu LS | $1,097 |
| Chevrolet Impala LT | $1,106 |
| GMC Sierra SL Extended Cab 2WD | $1,097 |
| Hyundai Elantra SE Touring Station Wagon | $1,152 |
| Toyota Corolla S | $1,154 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $1,176 |
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Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Rate quotes do not factor in garaging location in Austin, TX which can decrease or increase premium rates noticeably.
Based upon these rates, we can assume that vehicles like the Honda Odyssey, Chevrolet Silverado, and Ford Escape are going to be a few of the most budget-friendly vehicles to insure for hybrids.
Price comparison of only insuring for liability
Finding the cheapest auto insurance is important to most drivers, and a great way to pay less for insurance for hybrid vehicles is to not pay for full coverage. The example below illustrates the comparison of insurance costs with full physical damage coverage and with liability coverage only. The data assumes no claims or violations, $100 deductibles, single marital status, and no discounts are applied.
If averaged out across all ages, full coverage costs $2,974 per year over and above liability only. Many drivers may wonder when is the right time to remove full coverage. There is no exact formula of when to exclude physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is about 10% or more of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
For example, let’s pretend your vehicle’s book value is $11,500 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $10,500 after paying the physical damage deductible. If premiums are more than $1,050 annually to have full coverage, then it might be time to buy liability only.
There are some conditions where buying only liability insurance is not in your best interest. If you still owe money on your vehicle, you have to keep full coverage as part of the loan requirements. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should not consider dropping full coverage.
The illustration below demonstrates how deductible levels can change annual premium costs when searching for cheap insurance for hybrid vehicles. The costs are based on a single female driver, full physical damage coverage, and no additional discounts are factored in.
As shown above, a 30-year-old driver could cut expenses by $468 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $704 by changing to a $1,000 deductible. Younger drivers, like the 20-year-old example, could drop their prices $1,048 annually by selecting a higher deductible. If you make the decision to raise deductibles, it is necessary to have additional funds squirreled away to satisfy the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Irresponsible driving raises your rates
In a perfect world, the best way to receive the cheapest auto insurance premiums in Austin for hybrids is to drive carefully and avoid accidents and traffic violations. The chart below shows how violations and accidents can impact insurance premiums for different ages of insureds. The data assumes a married male driver, comp and collision included, $100 deductibles, and no additional discounts are factored in.
In the previous chart, the average cost of car insurance in Austin per year with no accidents or violations is $2,539. Factor in one speeding ticket and the average cost jumps to $2,914, an increase of $375 each year. Then throw in one accident along with the one speeding ticket and the yearly cost of auto insurance for hybrid vehicles jumps again to an average of $3,982. That’s an increase of $1,443, or $120 per month, just for not driving safely!
How to find economical auto insurance for hybrid vehicles
Below you’ll find some of the better money-saving suggestions that can help you get low-cost auto insurance.
- Higher deductibles save money
- Drive attentively and avoid accidents
- Save money by obeying traffic laws and keeping a clean driving record
- Buy a car with high safety ratings
- Increase your credit score
- Comparison shop at least once a year
That final tip is very critical, as was stressed in this write-up. Prices can change significantly in a year, so drivers shouldn’t hesitate to buy a policy from a new company if you can save money.
We understand brand loyalty, but it’s not recommended if that devotion results in you overpaying a lot of money. In just a few minutes you could compare prices to find cheaper auto insurance for hybrid vehicles in Austin.
The insurance agents in Austin listed below can most likely help you determine which policy fits your needs best, as some drivers aren’t sure which coverage they need and prefer to have a little guidance when trying to find the best insurance rates for hybrids. It can be challenging to find the cheapest rates, and getting professional guidance from a licensed agent can give satisfaction knowing you have sufficient protection if you have a claim.
To locate an Austin car insurance agency by location nearest to you, click the link after the list.
- Allstate Insurance: Amanda Escobar
8700 Manchaca Rd #405 – Austin, TX 78748 – (512) 280-9700 - Central Insurance Agency, Inc.
6000 N Lamar Blvd – Austin, TX 78752 – (512) 451-6551 - Richard Munoz – State Farm Insurance Agent
5446 W US Hwy 290 Service Rd #104 – Austin, TX 78735 – (512) 892-3527 - Allstate Insurance: Fleming and Conway Agency
3435 Greystone Dr Ste 107 – Austin, TX 78731 – (512) 345-0005 - Nationwide Insurance: James Gary Howe
3720 Far West Blvd #114 – Austin, TX 78731 – (512) 346-7645