Canyon Lake, TX Car Insurance

The average monthly cost for car insurance in Canyon Lake is about $49. To learn more about what you're likely to pay in the Canyon Lake area, read our guide below.
How does Canyon Lake stack up to the rest of the area, or even Texas as a whole? What can Canyon Lake residents expect to pay for their car insurance? You can find average cost breakdowns based on a wide array of factors in the charts and writeups below:  

How much is car insurance in Canyon Lake?

Area Average Monthly Car Insurance Premium
Canyon Lake$49
TX$64
United States$80

According to the chart above, the average cost of auto insurance in Texas is about $15 a month more expensive than it is in Canyon Lake.

Likewise, car insurance rates in Canyon Lake are more affordable than the national average. You can expect to pay about $31 below the national average for auto insurance in Canyon Lake.

Bear in mind that while these rates are the average costs for drivers in Canyon Lake, it doesn't mean that's what you'll pay. There are a number of factors that determine how much insurance companies might charge you for your insurance policy. 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 payment amount.

But don't worry, we've broken down the average rate for Canyon Lake residents based on several different factors so that you can get a more accurate idea of the bill you'll see each month. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP Code below to learn more about rates in your area!

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Average Car Insurance Rates by Age

Age Range Average Premium
Under 18Not Enough Data
18-24$88
25-34$50
35-44$45
45-54Not Enough Data
55-64$35
65+$48

It makes sense that older drivers would have more experience behind the wheel. That experience can lead to some serious savings when it comes to car insurance bills. In this case, 18-24-year-olds pay a lot more than someone who is at retirement age.

For every ten years older you get, you can expect to see a drop in your monthly premium. You may see your rates rise again once you hit retirement age in Canyon Lake.

Average Car Insurance Rates by Gender

Gender Average
Male$55
Female$43

On average, female drivers pay slightly less for car insurance than their male counterparts. In Canyon Lake, male drivers pay about $12 more per month. Based on the chart above, you can see that male drivers pay $55 on average, while female drivers typically pay $43 each month.

Average Auto Insurance Rates by Driving Record

Infractions Average Monthly Premium
1 Accident$71
Multiple Accidents$45
1 Ticket$160
Multiple TicketsNot Enough Data

Depending on your driving record, your rates can vary wildly. Drivers who avoid accidents and tickets will pay much lower rates than those with infractions. Drivers in Canyon Lake with a single accident on their record will usually see rates around $71 a month. Likewise, drivers with one ticket will be looking at a rate of around $160 a month on average.

When it comes to your monthly premium, accidents, tickets, and other driving infractions can really take a toll. Remember, cheap car insurance rates are dependent on driving safely and keeping your record clean.

Average Insurance Rates by Vehicle

Vehicle Age Average Monthly Premium
Less Than 1 YearNot Enough Data
2-3 Years$47
4-5 Years$41
6-7 Years$68
8-10 Years$56
11-14 Years$44
15 Years or Older$48

If you look at the first table above, the cheapest vehicles to insure in Canyon Lake are typically SUVs and cars, at $48 per month.

Truck and van drivers will see rates of about $51, while the rates for SUV owners average out to about $48 a month.

In addition to vehicle type, you can also expect to see slightly different rates based on your vehicle's age. Generally, newer vehicles are going to be the most expensive to insure. Once your car is around 5 years old, however, you may see your rates begin to drop back down. In Canyon Lake, the most expensive vehicles to insure are vehicles six-to-seven years old and eight-to-ten years old.

Average Car Insurance Rates by Relationship Status

Relationship Average Monthly Premium
Single (never married)$53
Married$40
Divorced$43
Widowed$49

On average, car insurance is slightly cheaper for married policyholders. This usually boils down to owners having multiple vehicles 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. Canyon Lake is no exception, with the difference totaling to around $13 a month.

Average Car Insurance Rates by Housing Situation

Housing Status Average Monthly Premium
Own$44
Rent$49
Live with parents$83

One other element taken into consideration is your housing situation. If you rent your home or apartment in Canyon Lake, expect to pay around $5 a month more than if you own property. Those who live with their parents, however, can expect to pay a lot more.

Many companies, however, will offer you a discount to bundle your home or rental insurance with your auto insurance policy, which can help reduce your average costs.

Car Insurance Companies in Canyon Lake, TX

Recent trends in car insurance for Canyon Lake drivers

Given that average rates are often changing, it's a smart move to know the direction your area is trending before shopping for coverage.

Auto insurance rates in Canyon Lake had been decreasing from 2016-2017, before steadying out in 2018. Car insurance rates decreased again, hitting a low of $37 in 2020, and finished up at $73 in 2021.

How does Canyon Lake compare to neighboring areas?

Why are car insurance rates in Canyon Lake different from other areas?

Car insurance companies will take into account many factors when they're choosing how much to charge for a policy. The price of your insurance policy will depend largely on where you park your car and will be influenced by things such as:

  • Rate of crime
  • Road Safety (frequency of local car accidents)
  • Availability of off-street parking
  • Total number of drivers in the community
  • Laws

It's good to be aware of these factors (even though you may not be able to do much to change them) as you shop for a new policy or consider making a move. Knowing that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your particular neighborhood.

How can I find the cheapest car insurance in Canyon Lake?

In the end, the only way to know exactly what your rate will be is to request a quote from a car insurance company.

Good news! Compare.com does all of that work for you. Just punch in your ZIP below, answer a few questions about your driving profile, and you'll be comparing the cheapest quotes from a number of the car insurance companies that offer coverage in Canyon Lake.

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Canyon Lake Insurance FAQs

What factors affect car insurance quotes in Canyon Lake?

Car insurance companies calculate quotes based on a wide array of factors. These include things like your gender and age, but also factors like your address, credit score, driving record and marital status, as well as your vehicle's year and make and model.

Why is the cost of car insurance in Canyon Lake 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 local laws, crime rates, and parking situations when calculating your quote -- all of which can change from city to city.

Which car insurance company will offer me the cheapest rate in Canyon Lake?

Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible however, by using sites like Compare.com to compare multiple quotes at once.

Do I need to change my insurance if I move to Canyon Lake?

Any time you experience a major life event, whether it's moving to a new area, getting married, finding a new job, or other notable events, it's always a good idea to re-evaluate your current insurance. Certain companies offer cheaper insurance in certain cities, so even if you were getting the cheapest rate at your old address, it doesn't mean it'll still be the cheapest at your new home. That's why it's always good 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. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to Canyon Lake or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.

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