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How much is car insurance in Bonham?
|Area||Average Monthly Car Insurance Premium|
Car insurance coverage in Bonham is about $13 cheaper than it is in the rest of Texas.
If you're thinking of moving to Bonham from out of state, you may still be in luck. On average, it's about $29 less to insure your vehicle in Bonham than it is in the rest of the U.S.
These rates provide a great starting point for understanding what to expect for your monthly payment, but there's no guarantee that this is what you will end up paying. There are a number of factors that determine how much insurance companies might charge you to insure your vehicle. Variables like age, gender, vehicle make and model, driving record, and even credit score (depending on your area) can all be taken into consideration when determining your monthly policy payment.
But don't worry, we've broken down the average rate for Bonham residents based on several different factors so that you can get a more accurate idea of your policy's monthly premium. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP below and find out in just minutes!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
The longer you've been on the road, the more experienced of a driver you are. That experience can lead to some serious savings when it comes to auto insurance premiums. As you can see, 18-24-year-olds pay twice as much as drivers 65 and older.
For every 10 years, you can expect to see a drop in your monthly premium. That said, once you hit retirement, your rates may climb back up in Bonham.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less for car insurance than their male counterparts. In Bonham, the difference comes out to about $5 a month. As you can see in the chart above, car insurance for women in the area typically costs around $49 each month, while men pay $54 on average.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|Multiple Accidents||Not Enough Data|
Depending on your driving record, your rates can vary wildly. Those with clean records will obviously pay a lot less than those with infractions. The rate for drivers in Bonham with a single accident on their record is about $58 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $24.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$44|
|15 Years or Older||$45|
The most affordable vehicles to insure in Bonham are typically cars, which run about $49 per month.
SUV owners can expect to pay an average of around $52 a month for their policy, while truck and van drivers are usually around $57 to insure each month.
The age of your vehicle also plays a role in your monthly payment. Generally, newer vehicles are going to cost the most to insure. However, once your car is close to 5 years old, you might start to see your rates slide back down slightly. 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)||$53|
Generally, married policyholders will pay slightly less for car insurance. This oftentimes is a result of owning multiple vehicles that are on the same policy, something that will often get you a discount.
In Bonham, the difference in rates based on relationship status can be as much as $4 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$84|
One other element taken into consideration is your housing status. If you rent your home or apartment, expect to pay around $7 a month more than if you own your own home in Bonham. But those who live at home with their parents can expect to pay significantly more.
If you bundle your home or rental insurance and auto insurance policies, you can oftentimes reduce your average premiums, depending on your insurance company.
Car Insurance Companies in Bonham, TX
Recent trends in car insurance for Bonham drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before deciding on where to shop.
In Bonham, the rates for auto insurance had been increasing from 2016-2017, when they reached a high of $59. This changed in 2018, when insurance rates began to decrease. They hit a low of $37 in 2019, and finished down in 2021, at $42 per month.
How does Bonham compare to neighboring areas?
Why are car insurance rates in Bonham different from other areas?
Car insurance companies take in numerous factors when figuring out how much individual insurance policies will cost. Where you live will also have a significant impact on your personal policy. This may include things like:
- Regional crime rates
- Area laws
- Total amount of drivers in the area
- Road Safety (frequency of local car accidents)
- Off-street parking availability
An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Bonham?
Equipping 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.
But hold on! Compare.com does all of that work for you. Just put in your ZIP Code below, answer a few questions on you and your vehicle, and you'll be comparing the cheapest quotes from a number of the car insurance companies that offer plans 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 age and gender, 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?
Your address and the city you live in have a significant impact on how much a car insurance company might charge for your policy. Companies take into consideration things like parking situations, local laws, and crime rates when calculating your quote -- all of which can change from city to city.
Which car insurance company will offer me the cheapest rate in Bonham?
Since the factors that car insurance companies take into consideration when calculating the rate you might pay differ from person to person, there is no one insurance company that will offer the cheapest rate to everybody. Things like your driving record, the number of drivers on the policy, and vehicle make and model, plus a number of others, are all taken into account. Because of this, 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?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart 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?