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How much is car insurance in Magnolia?
|Area||Average Monthly Car Insurance Premium|
As you can see, car insurance policies across the rest of Texas are about $7 a month cheaper than the rates drivers pay in Magnolia.
On the other hand, when compared to the national average, the cost for auto insurance in Magnolia is lower. It's about $8 cheaper to insure your vehicle in Magnolia compared to the average rate for the U.S. as a whole.
While these are the average monthly costs for auto insurance coverage in Magnolia, you could end up paying something different. There are a variety of factors that car insurance companies assess when determining how much to charge you to get your vehicle insured. Age, gender, vehicle make and model, driving record, and in some cases, your credit score, are all factored into assessing the final dollar amount you'll be asked to pay each month.
But don't worry, we've broken down the average rate for Magnolia residents based on several different factors so that you can get a more accurate idea of your policy's monthly premium. To find out if you're getting the cheapest rate, just enter your ZIP below and find out in minutes!
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Magnolia Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
It makes sense that older drivers would have more experience behind the wheel, right? That experience can lead to some serious savings when it comes to car insurance rates. In this case, 18-24-year-olds pay $67 more than 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 begin to go back up in Magnolia.
Magnolia Car Insurance Rates by Gender
In general, female drivers pay less for car insurance than their male counterparts. This is true in Magnolia, where male drivers pay about $6 more a month. As illustrated in the table above, male drivers in the area pay about $75 on average, while female drivers pay around $69 each month.
Magnolia Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Rates can change drastically depending on your driving record. Those with clean records can expect to pay significantly less than those with infractions. Drivers in Magnolia with one accident will pay around $92 a month. Likewise, drivers with one ticket on their record will be looking at an average rate of around $85.
When it comes to your monthly premium, accidents, tickets, and other driving infractions can really take a toll. So, if you're looking for cheap car insurance, drive carefully and keep a clean record.
Magnolia Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$57|
|15 Years or Older||$69|
According to the first table above, the cheapest vehicles to insure in Magnolia are typically SUVs, at $70 per month.
Truck and van drivers will see rates of about $75, while the rates for car owners average out to about $72 per month.
Depending on the age of your vehicle, you can also expect to see slightly different rates. Generally, the most expensive vehicles to insure are going to be newer ones. However, if your car is close to 5 years old, you can expect to see your rates start dropping back down. In Magnolia, vehicles four-to-five years old are the most expensive to insure.
Magnolia Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$81|
More often than not, 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 many companies offer special discounts for.
At a national level, single drivers usually pay more than married couples do for auto insurance. Magnolia follows that pattern, with the difference totaling to around $29 a month.
Magnolia Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$113|
Another factor that comes into play is your living situation. If you rent your home or apartment in Magnolia, expect to pay around $9 a month more than if you are a homeowner. But if you live with your parents, you can expect to pay a lot more.
That said, if you bundle your homeowners or rental insurance policy with your auto insurance, many companies will offer you a discount to make up for it and reduce your average premiums.
Car Insurance Companies in Magnolia, TX
Recent trends in car insurance for Magnolia drivers
Car insurance rates are frequently changing, so it's in your best interest to understand which way your area is trending before choosing when and where to shop.
In Magnolia, the rates for car insurance decreased from 2017-2019, when they reached a low of $67. This shifted in 2020, when policy premiums began to increase. They hit a high of $83 in 2021, and finished at $69 in 2022.
How does Magnolia compare to neighboring areas?
Why are car insurance rates in Magnolia different from other areas?
Car insurance companies will take into account many factors when they're deciding how much to charge for a policy. While we've discussed the ones that affect your personal policy, others are based around where you live and drive. These include things like:
- Crime levels
- Access to off-street parking
- Number of car accidents
- Number of drivers in the area
Knowing the make-up of these factors can be helpful when deciding on purchasing a new policy or thinking about making a move. Different towns and cities will all have different average rates, so guides like these are a great place to get started.
How can I find the cheapest car insurance in Magnolia?
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. Simply enter your ZIP Code below, answer a few questions on you and your vehicle, and you'll be comparing the cheapest quotes from the many car insurance companies offering plans in Magnolia.
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Magnolia Auto Insurance FAQs
What factors affect car insurance quotes in Magnolia?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your age and gender, but also factors like your vehicle's year, make and model, as well as your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Magnolia 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 Magnolia?
There isn't one company that will offer the cheapest rate to everybody. What companies will charge you are based on many different factors that vary from person to person, such as your driving record, what kind of car you drive, how many drivers will be on your policy, and a number of other factors. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once. That way, you can be confident you're getting the best price.
Do I need to change my insurance if I move to Magnolia?
Whenever you relocate or experience another major life event, such as finding a new job or getting married, you should consider revisiting your current insurance policy. Using services like Compare.com to compare quotes from multiple companies at once is a great way to make sure you're getting the cheapest rate for your new location.
Do I need to wait for my policy to expire to switch to a different car insurance company?
Not at all, in fact you can switch companies at any point, regardless of how much time is left on your current policy. If you're thinking about moving to Magnolia or haven't checked out the latest rates in your area for some time, it might be worth your while to take 10 minutes and see if Compare.com can save you any cash.
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