You have probably seen the captivating ads from auto insurance companies like Nationwide and Farmers that make claims of big savings, so you just need to choose the one with the flashiest ad, right?
Regrettably, it’s not quite that easy, as there are a whole bunch of unknowns like when you were born, if you have a tendency to get pulled over, and whether you are female or male, that all have an effect on the price. If you keep reading, we will teach you about some of these things and also should give you a good start in finding the cheapest insurance.
The make and model of vehicle needing coverage is probably the most important factor when looking for the cheapest insurance for used cars. Vehicles with limited top-end speed, excellent safety ratings, or a track record of few liability claims will cost substantially less to insure than fast, unsafe models.
The list below showcases auto insurance premiums for a handful of the most cost-effective vehicles to insure in Texas.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $901 |
| Dodge Grand Caravan CV | $1,008 |
| Toyota Tacoma 4WD | $1,013 |
| Ford F-150 XLT Crew Cab 2WD | $1,008 |
| Honda Odyssey EX W/Rear Entertainment | $1,047 |
| Toyota Prius | $1,096 |
| Ford Escape Limited 4WD | $1,100 |
| GMC Sierra SLT Extended Cab 2WD | $1,145 |
| Nissan Altima Hybrid 4-Dr Sedan | $1,150 |
| Ford Edge SEL AWD | $1,145 |
| Jeep Grand Cherokee Limited 2WD | $1,155 |
| Chevrolet Equinox LTZ AWD | $1,145 |
| Chevrolet Silverado LS Regular Cab 2WD | $1,162 |
| Chevrolet Malibu LT | $1,190 |
| Ford Explorer Limited AWD | $1,195 |
| Toyota Camry LE | $1,201 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,207 |
| Compare Cheap Rates Go | |
Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Price estimates do not factor in specific garaging location which can affect rates noticeably.
Looking at the numbers, we can tell that makes and models like the Honda CR-V, Dodge Grand Caravan, Toyota Tacoma, Ford F-150, and Honda Odyssey are likely to be some of the less-costly vehicles to insure for pre-owned vehicles.
Finding out which company offers the most affordable car insurance rates for used cars may require a tad more effort than just quoting one company’s rates.
Each auto insurance company has a proprietary formula for filing rates in each state, so let’s rank the car insurance companies with the overall cheapest rates in Fort Worth, TX.
Lowest Insurance Price Quotes for Used Cars
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,052 |
| 2 | USAA | $1,095 |
| 3 | Texas Farm Bureau | $1,211 |
| 4 | Germania Mutual | $1,282 |
| 5 | Esurance | $1,365 |
| 6 | California Casualty | $1,382 |
| 7 | State Farm | $1,450 |
| 8 | Mercury | $1,521 |
| 9 | Nationwide | $1,553 |
| 10 | Safe Auto | $1,597 |
| 11 | Progressive | $1,715 |
| 12 | Allstate | $1,718 |
| 13 | Amica | $1,775 |
| 14 | Home State | $2,134 |
| 15 | GEICO | $2,135 |
| 16 | MetLife | $2,227 |
| 17 | Encompass | $2,232 |
| 18 | Unitrin | $2,264 |
| 19 | 21st Century | $2,469 |
| 20 | Titan | $2,568 |
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Travelers normally has some of the most affordable car insurance rates in Fort Worth at around $1,052 each year. This is $852 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also some of the lowest-priced Fort Worth, TX insurance companies.
As the example above demonstrates, if you currently have coverage with USAA and switched to Travelers, you might realize an annual savings of about $43. Policyholders with Texas Farm Bureau may save as much as $159 a year, and Germania Mutual customers might realize rate reductions of up to $230 a year.
It’s important to note that these premiums are averages for all insureds and vehicles and and are not figured with an exact vehicle garaging location for used cars. So the company that can offer you the best price may not even be in the list above. That is why you need to quote rates from as many companies as possible using your own personalized driver profile and vehicle information.
Get discount Fort Worth car insurance rates
Car insurance companies that provide policies for used cars may provide price discounts that could lower prices by as much as 30% if you are eligible to receive them. Popular car insurance companies and their possible discounts are detailed below.
- Travelers has savings for driver training, payment discounts, multi-car, continuous insurance, home ownership, and early quote.
- 21st Century discounts include teen driver, early bird, air bags, good student, and automatic seat belts.
- State Farm policyholders can earn discounts including accident-free, safe vehicle, anti-theft, multiple policy, and driver’s education.
- GEICO may include discounts for multi-vehicle, five-year accident-free, membership and employees, air bags, defensive driver, and military active duty.
- SAFECO may offer discounts for anti-theft, teen safety rewards, homeowner, teen safe driver, multi-car, and bundle discounts.
- AAA may have discounts that include AAA membership discount, multi-car, good student, education and occupation, pay-in-full, and good driver.
The example below visualizes the comparison of annual premium costs with and without discounts. The rate quotes are based on a male driver, no accidents, no driving violations, Texas state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with anti-theft, defensive driving course, marriage, multiple policy, accident-free, and claim-free discounts applied. When these discounts are applied, theaverage yearly reduction on car insurance for used cars is 28% or $445.
Finding a highly-rated auto insurance provider can be a challenge considering how many different insurance companies sell coverage in Texas. The company ratings shown below may help you analyze which car insurance companies to look at purchasing a policy from.
The rankings below include companies with a nationwide focus, so smaller companies that only insure vehicles in Texas will not be included in the list. If you wish to compare prices from the insurers below and more, click here.
Top 10 Major Auto Insurance Companies in Fort Worth Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
Top 10 Major Auto Insurance Companies in Fort Worth Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- The General
- 21st Century
- Esurance
Cost of full coverage
Reducing the cost of car insurance is probably important to most drivers, and one easy way to buy cheap insurance for used cars is to not insure for full coverage. The illustration below compares auto insurance rates with liability coverage only compared to full coverage. The premiums are based on a clean driving record, no at-fault accidents, $250 deductibles, drivers are single, and no discounts are taken into consideration.
If we average the cost for all age groups, physical damage insurance costs an additional $2,671 per year more than carrying just liability coverage. Many of you may wonder if physical damage coverage is worth the money. There is no written rule for eliminating physical damage insurance, but there is a general convention. If the annual cost of your full coverage insurance is more than around 10% of the replacement cost minus the deductible, then it might be time to consider dropping full coverage.
There are some conditions where removing full coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not eliminate full coverage.
How to find more affordable auto insurance for used cars
Below you’ll find a few money-saving suggestions that can help Fort Worth drivers buy low-cost coverage.
- Safer vehicles generally have cheaper insurance rates
- Do not waste money insuring older vehicles for full coverage
- Tickets and violations raise rates
- Increase your comprehensive and collision deductibles
- Clean up your credit rating
- Drive attentively and avoid accidents
- Compare rate quotes often
The last idea is remarkably valuable, as we emphasized in this piece. Prices charged by auto insurers change a lot, so drivers shouldn’t be reluctant to change insurance companies if you can save money. Sticking with a specific company is fine, but it isn’t a good idea if that loyalty results in overpaying potentially thousands of dollars a year. It only take a few minutes to shop around to find cheaper insurance for used cars in Fort Worth.