The words “low-priced” and “insurance” really shouldn’t be used in the same sentence, in particular when comparison shopping for the cheapest car insurance for real estate agents. Because it’s so expensive, let’s lead off by showing you some of the things that influence auto insurance rates, and see how we can help you lower the price of your next policy.
One of the more important things that are used to help calculate car insurance rates is where you live. Regions with more people or even just more weather-related claims tend to have higher auto insurance costs, whereas areas with lower crime rates and fewer weather claims receive better rates.
The illustration below ranks the most costly cities in Texas for real estate agents to buy car insurance in. Dallas is ranked at #6 with a yearly cost of $1,837 for car insurance, which is around $153 per month.
|Rank||City||Average Per Year|
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Premium amounts are comparative as the specific area where the vehicle is garaged can impact price quotes substantially.
The vehicle that needs insurance is one of the primary factors when quoting the best insurance for real estate agents. Vehicles with lots of horsepower, a lack of safety features, or an increased likelihood of liability claims will cost quite a bit more to insure than safer, lower-performance models. The table below estimates auto insurance premiums for a selection of the most cost-effective automobiles to buy coverage for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$1,249|
|Ford Escape XLT 4WD||$1,277|
|Ford Explorer XLT 2WD||$1,398|
|Honda CR-V EX 4WD||$1,448|
|Chevrolet Impala LS||$1,451|
|Ford Focus SE 4-Dr Sedan||$1,459|
|Jeep Grand Cherokee Laredo 4WD||$1,478|
|Dodge Ram Quad Cab ST 2WD||$1,504|
|Honda Odyssey LX||$1,554|
|Toyota Corolla S||$1,557|
|Ford Edge SE AWD||$1,587|
|Toyota Tacoma 2WD||$1,596|
|Honda Civic Hybrid 4-Dr Sedan||$1,587|
|Chevrolet Equinox LTZ AWD||$1,597|
|GMC Sierra SLT Extended Cab 2WD||$1,587|
|Volkswagen Jetta 2.0T Station Wagon||$1,609|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$1,627|
|Toyota RAV4 Sport 2WD||$1,667|
|Hyundai Sonata Limited 4-Dr Sedan||$1,693|
|Kia Optima EX||$1,702|
|Toyota Camry Hybrid||$1,693|
|Dodge Grand Caravan SXT||$1,703|
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Price 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 multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Prices do not factor in specific zip code location which can revise premium rates significantly.
Looking at the data, models like the Honda Accord, Ford Escape, Ford Explorer, and Honda CR-V will be some of the cheaper vehicles to insure for realtors.
How to get discounts on Dallas insurance
Insurance providers that sell policies for real estate agents could also offer policy discounts that could reduce prices by as much as 35% if you meet the requirements. Larger car insurance companies and their offered discounts are included below.
- AAA may include discounts for anti-theft, AAA membership discount, multi-policy, good student, and good driver.
- Progressive may offer discounts for online signing, online quote discount, continuous coverage, good student, and multi-vehicle.
- State Farm discounts include defensive driving training, passive restraint, anti-theft, multiple policy, student away at school, multiple autos, and accident-free.
- Esurance policyholders can earn discounts including Switch & Save, anti-lock brakes, paid-in-full, homeowner, good student, and renters.
- Nationwide offers premium reductions for multi-policy, anti-theft, good student, defensive driving, business or organization, and easy pay.
The information below illustrates the difference between car insurance rates with and without discounts applied to the rates. Data assumes a male driver, no accidents or driving violations, Texas state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with claim-free, marriage, multiple vehicle, passive restraint, anti-theft, and defensive driving course discounts applied. With discounts applied, the average amount saved on car insurance for real estate agents is 28% or $815.
How to find a good Texas car insurance company
Picking the highest-rated car insurance provider can be challenging considering how many different companies there are to choose from in Texas. The company information in the lists below could help you analyze which insurers you want to consider when shopping insurance around for real estate agents.
These ratings are only comprised of companies with a national presence, so companies with more of a regional focus are not factored into the list. If you’d like to compare prices from these and other top-rated companies, follow this link.
Top 10 Large Auto Insurance Providers in Dallas Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Top 10 Large Auto Insurance Providers in Dallas Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance
Rate comparison of full coverage and liability-only
Buying cheaper car insurance is the goal of most people, and one common way to pay less for insurance for real estate agents is to buy only liability coverage. The information below illustrates the difference between insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Texas. The rate quotes are based on no violations or claims, $500 deductibles, single marital status, and no additional discounts are factored in.
If we average the cost for all age groups, physical damage insurance costs an additional $1,793 per year over and above liability only. That proposes the question if buying full coverage is worth the expense. There is no exact rule that works best for making the decision to drop physical damage coverage, but there is a broad guideline. If the annual cost of coverage is more than about 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s assume your vehicle’s replacement value is $11,500 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $10,500 after the policy deductible has been paid. If premiums are more than $1,050 a year for comprehensive and collision coverage, then you might consider buying liability only.
There are some situations where dropping physical damage coverage is not recommended. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not opt for liability only.