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How much is car insurance in Richardson?
|Area||Average Monthly Car Insurance Premium|
Looking at the chart above, you can see that the average monthly price in Richardson is in line with pricing for the rest of Texas.
If you're thinking of moving to Richardson from out of state, you may still be in luck. It's about $14 cheaper than the national average to insure your vehicle in Richardson.
Bear in mind that while these rates represent the expected monthly payments for residents of Richardson, it doesn't mean that's what you'll pay. The monthly rate that insurance companies end up charging you is determined by a variety of factors. The final dollar amount you'll be asked to pay each month is calculated off of your age, gender, vehicle make and model, driving record, and in some cases, your credit score.
Don't worry, we've done the work for you and broken down average rates for Richardson to help you get a more accurate idea of what you'll be charged for your policy. 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|
Generally, the older you are, the more experienced you are on the roads, right? When it comes to auto insurance rates, that experience can help put some change back into your pocket. In this case, 18-24-year-olds pay $26 more than someone who is at retirement age.
Every ten years or so you can expect to see a decline in your monthly premium. You may see your rates creep back up a bit once you hit retirement in Richardson.
Average Car Insurance Rates by Gender
In general, car insurance rates for women are usually cheaper than they are for men. The difference in Richardson is around $4 a month. Based on the chart above, you can see that female drivers pay around $64 on average, while male drivers typically pay $68 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Rates can vary wildly depending on your driving record. Drivers who avoid accidents and tickets will pay lower rates than those with infractions. Drivers in Richardson with one accident will pay around $81 a month. Likewise, drivers with one ticket will be looking at a rate of around $87 a month on average.
Regardless of where you live, accidents, tickets, and other driving infractions can drive your monthly bill way up. In order to reduce your monthly bill and get the cheapest car insurance possible, keep your record clean and drive carefully.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$62|
|15 Years or Older||$60|
As you can see in the first table above, the cheapest vehicles to insure in Richardson are usually trucks and vans, which run about $65 per month.
Car owners can expect to pay an average of around $67 a month for their policy, while SUVs usually cost around $66 a month to insure.
In addition to vehicle type, you can also expect to see slightly different rates depending on the age of your vehicle. Generally, newer vehicles are going to be the most expensive to insure. Once your car is close to 5 years old, however, you may see your bill start to shrink a bit. In Richardson, the most expensive vehicles to insure are vehicles eight-to-ten years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$71|
Generally, those who are currently married will pay slightly less to insure their car. This usually happens because companies will extend special discounts to policyholders with multiple vehicles that are on the same policy.
The difference in rates based on relationship status in Richardson is about $11 a month, with married couples paying less for coverage than single drivers.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$95|
Your living accommodations is another factor that affects your monthly rate. If you rent your home or apartment, expect to pay around $12 a month more than if you own your own home in Richardson. 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 premiums, depending on your insurance company.
Car Insurance Companies in Richardson, TX
Recent trends in car insurance for Richardson drivers
The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area before shopping for coverage.
The rates for car insurance in Richardson had been increasing from 2016-2017, but shifted in 2018. They decreased until 2020, when they reached a low of $61, and finished at $92 in 2021.
How does Richardson compare to neighboring areas?
Why are car insurance rates in Richardson different from other areas?
Car insurance companies take in several factors when deciding how much individual insurance policies will cost. While we've discussed the ones that affect your personal policy, others are based around where you call home. These include things like:
- Off-street parking accessibility
- Road safety
- Total number of drivers in the region
- Prevalence of crime
A decent level of familiarity with these factors can be helpful when you're ready to purchase of 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 Richardson?
While getting familiar with what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
Luckily, Compare.com can handle all of this for you. Put in your ZIP Code below, answer a few questions related to the factors we outlined above, and you'll be quickly comparing the cheapest quotes from dozens of car insurance companies offering plans in Richardson.
Richardson Insurance FAQs
What factors affect car insurance quotes in Richardson?
Car insurance companies calculate quotes based on a wide array of factors. These include things like your age and gender, but also factors like your driving record, credit score, address and marital status, as well as your vehicle's year and make and model.
Why is the cost of car insurance in Richardson different from other neighboring cities?
Parking situations, crime rates, and local laws -- all of which can change from city to city -- play a large role in the rates that car insurance companies may charge for coverage.
Which car insurance company will offer me the cheapest rate in Richardson?
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 Richardson?
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 point, no matter how much time is left on your current policy. If you're thinking about moving to Richardson or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.