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How much is car insurance in Sherman?
|Area||Average Monthly Car Insurance Premium|
Auto insurance coverage in Sherman is about $9 cheaper than it is in the rest of Texas.
Likewise, car insurance rates in Sherman are more affordable than the national average. It's around $25 less to insure your vehicle compared to the average rate for the United States as a whole.
While these are the average monthly costs for auto insurance coverage in Sherman, you could end up paying something different. Insurance companies weigh a variety of factors when determining how much to charge you to get auto insurance. 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 the bill you'll see each month.
We've broken down the average rates for Sherman to help you understand what exactly you might be asked to pay. If you think you might be overpaying for insurance in your area, enter your ZIP Code below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
It's pretty safe to assume that the older you are, the more experience you have as a driver. It also makes sense that the more experienced of a driver you are, the safer you are. In this case, 18-24-year-olds pay twice as much as someone who is at retirement age.
For every ten years older you get, you can expect to see a drop in your monthly premium. Once you hit retirement age, however, your rates may climb back up a bit in Sherman.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less for car insurance than their male counterparts. This is true in Sherman, where male drivers pay about $6 more per month. As you can see in the table above, female drivers in the area typically pay $53 on average, while female drivers typically pay $59 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your driving record can have a tremendous impact on your car insurance rates. A clean driving record will obviously get you a lower rate than one with accidents or infractions. Drivers in Sherman with one accident will pay around $80 a month. Likewise, drivers with one ticket will be looking at a rate of around $53 a month on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$62|
|15 Years or Older||$54|
The most affordable vehicles to insure in Sherman are by and large SUVs, which run about $51 per month.
Car owners will see rates of about $58, while truck and van owners typically pay around $53 a month.
Vehicle age also plays a role in your monthly payment. Generally, newer vehicles are going to cost the most to insure. However, once your car is a few years old you may start to see your rates drop back down a bit. In Sherman, the most expensive vehicles to insure are vehicles four-to-five years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$61|
On average, those who have settled down into marriage will pay slightly less to insure their car. This oftentimes is a result of owning multiple vehicles that are on the same policy, something many companies award special discounts for.
At a national level, single drivers usually pay more than married couples do for auto insurance. Sherman follows that pattern, with the difference totaling to around $19 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$79|
Your housing status is another component of how insurance companies calculate your monthly rate. Homeowners in Sherman can expect to pay around $12 a month less than those who rent. But if you live with your parents, your rates will be significantly higher.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your overall costs, depending on your insurance company.
Car Insurance Companies in Sherman, TX
Recent trends in car insurance for Sherman drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before selecting an insurance provider.
Auto insurance rates in Sherman rose from 2017-2018, when they hit a high of $65. This leveled out in 2019, when car insurance rates started to decrease. They reached a low of $44 in 2020, and finished down in 2022, at $45 per month.
How does Sherman compare to neighboring areas?
Why are car insurance rates in Sherman different from other areas?
When considering how much to charge for an insurance policy, car insurance companies will evaluate a variety of factors. A few of these factors affecting your personal policy have already been mentioned, but others are based around where you live. These include things like:
- Regional crime rates
- Road Safety (total number of local car accidents)
- Amount of drivers in the community
- Area regulations
- Availability of off-street parking
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Realizing 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 corner of the world.
How can I find the cheapest car insurance in Sherman?
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 wait! Compare.com does all of that work for you. Simply enter your ZIP below, answer a few questions on you and your car, and you'll be comparing the cheapest quotes from dozens of car insurance companies providing policies in Sherman.
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Sherman Insurance FAQs
What factors affect car insurance quotes in Sherman?
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 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 Sherman 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, parking situations, 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 Sherman?
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 Sherman?
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 Sherman 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.
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