Table of contents
How much is car insurance in Bonham?
|Area||Average Monthly Car Insurance Premium|
Based on the chart above, you can see that coverage in Bonham typically costs about $13 a month less than it does in the rest of Texas.
Likewise, car insurance rates in Bonham are often favorable when viewed against the rest of the country. It's around $29 less to insure your vehicle compared to the average rate for the United States as a whole.
While these numbers represent the average monthly payments for coverage in Bonham, that doesn't mean it's what you'll pay. Insurance companies take in a variety of factors when determining how much to charge you for coverage. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in the bill you'll see each month.
We've broken down the average rates for Bonham to help you understand what exactly you might be asked to pay. To find out if you're getting the cheapest rate, just enter your ZIP Code below and find out in minutes!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
Generally speaking, the older you are, the more experience you have driving, right? When it comes to your monthly premium, that experience can really pay off. According to the table above, you can see that 18-24-year-olds pay two times the price that someone who is at retirement age.
You can expect to see your monthly premium drop every 10 years or so. That said, once you hit retirement age, your rates may rise again in Bonham.
Average Car Insurance Rates by Gender
In general, car insurance rates for women are usually cheaper than they are for men. In Bonham, this difference shakes out to about $6 per month. As you can see in the table above, male drivers in the area typically pay $55 on average, while female drivers typically pay $49 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|Multiple Accidents||Not Enough Data|
Your rates can vary wildly depending on your driving record. Those with clean records will obviously pay significantly less than those with infractions. Drivers in Bonham with a single accident will pay around $58 a month. In addition, drivers with one ticket can expect to pay around $54 a month on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$44|
|15 Years or Older||$46|
In terms of affordable coverage, the cheapest vehicles to insure in Bonham are by and large cars, at $50 per month.
SUV owners, on the other hand, usually pay around $52 a month, while truck and van drivers can expect to pay about $55 per month for auto insurance coverage.
Your rates can also vary depending on how old your vehicle is. Generally, the most expensive vehicles to insure are going to be newer ones. Once your car is around 5 years old however, your rates may start to dip back down a bit. In Bonham, the most expensive vehicles to insure are vehicles eleven-to-fourteen years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$54|
On average, car insurance is slightly cheaper for married policyholders. This oftentimes is a result of owning multiple vehicles that are on the same policy, something that will often get you a discount.
On a national scale, married drivers typically pay less than single drivers for auto insurance. Bonham is no exception, with the difference totaling to around $5 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$84|
Another factor that comes into play is your living accommodations. If you rent your home or apartment, expect to pay around $9 a month more than if you own your own home in Bonham. Those who live with their parents, however, can expect to pay a lot more.
If you bundle your home or rental insurance and auto insurance policies, you can oftentimes reduce your car insurance costs, depending on your insurance company.
Car Insurance Companies in Bonham, TX
Recent trends in car insurance for Bonham drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending when deciding when and where to shop.
The rates for auto insurance in Bonham decreased from 2017-2019, when they hit a low of $37. Rates started to rise in 2020, and this pattern has continued through 2022, when rates have most recently reached $57.
How does Bonham compare to neighboring areas?
Why are car insurance rates in Bonham different from other areas?
There are many factors car insurance companies take into consideration when deciding how much to charge for a monthly rate. Your insurance policy will depend largely on where you call home and will be influenced by things such as:
- Area crime rates
- Access to off-street parking
- Regional laws
- Road Safety (frequency of car accidents)
- Total number of drivers in the community
Knowing the make-up of these factors can be helpful when deciding on purchasing a new policy or thinking about making a move. Each area will have different rates. Guides like these are a wonderful place to get started.
How can I find the cheapest car insurance in Bonham?
Arming yourself with information about the average costs for drivers in your area will better prepare you for the real deal. The only way to know for sure what your rate will be is by asking for a quote from car insurance companies.
Good news! Compare.com will handle the heavy lifting for you. Put in your ZIP below, respond to a few questions, and you'll be comparing the cheapest quotes from numerous car insurance companies that offer coverage in Bonham.
Bonham Insurance FAQs
What factors affect car insurance quotes in Bonham?
Auto insurance companies take a wide array of factors into consideration when calculating your monthly payment. These include things like your vehicle's year, make and model, your gender and age, as well as your driving record, credit score, address, and marital status.
Why is the cost of car insurance in Bonham different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like parking situations, local laws, and crime rates -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Bonham?
No one insurance company is guaranteed to offer the cheapest rate across the board. Since companies base their rates on factors that differ from person to person, such as driving record, number of drivers on the policy, vehicle make and model, and many more, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Bonham?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Bonham or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?