Table of contents
How much is car insurance in Sherman?
|Area||Average Monthly Car Insurance Premium|
Based on the chart above, you can see that coverage in Sherman typically costs about $8 a month less than it does in the rest of Texas.
Drivers relocating from out of state may enjoy some cost savings in Sherman. On average, it's about $24 less to insure your vehicle in Sherman than it is in the rest of the United States.
These may be the average auto insurance rates for Sherman, but that doesn't mean it's exactly what you'll pay. There are a variety of factors that car insurance companies consider to determine how much to charge you to insure your vehicle. 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 even your credit score depending on the circumstances.
We've broken down average rates for Sherman to help you understand what your policy's monthly premium will cost. And if you're not certain that you're paying the lowest option, simply enter your ZIP Code below and find out in just minutes!
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 longer you've been driving. That experience can lead to some serious savings when it comes to auto insurance premiums. According to the table above, you can see that 18-24-year-olds pay twice as much as drivers 65 and older.
For every 10 years, you can expect to see a decrease in your monthly premium. As you get closer to retirement age, however, you may see your rates begin to go back up in Sherman.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less than male drivers for car insurance. In Sherman, the difference comes out to about $6 per month. Based on the chart above, you can see that female drivers pay around $53 on average, while male drivers typically pay $59 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
One of the key factors in determining your car insurance rates is your driving record. Drivers with clean records will pay lower rates than those with accidents or violations. Drivers in Sherman with a single accident on their record will usually see rates around $82 a month. In addition, drivers with a single ticket on their record can expect to pay around $65 a month on average.
Accidents, tickets, and other driving infractions can really cost you when it comes to your monthly rate. So, if you want the cheapest rates, drive carefully and try to maintain a clean driving record.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$62|
|15 Years or Older||$54|
In Sherman, the cheapest vehicles to insure are usually SUVs, with drivers paying around $51 per month for insurance.
Car owners will see rates of about $57, while truck and van owners typically pay around $55 a month.
In addition to vehicle type, you can also expect to see slightly different rates based on the age of your vehicle. Generally, newer vehicles are going to be the most expensive to insure. However, your rates may start to drop back down once your car is close to 5 years old. The most expensive vehicles to insure in Sherman are vehicles less than one year old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$62|
Generally speaking, people who are married will pay slightly less to insure their vehicle. This usually happens because companies will extend special discounts to policyholders with multiple vehicles that are on the same policy.
The cost of auto insurance in Sherman reflects the national trend of married couples paying less than single drivers to insure their vehicles, to the tune of about $21 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$79|
Your living situation is another factor that affects your monthly rate. In Sherman, homeowners can expect to pay around $13 a month less than those who rent. Those who live with their parents, however, 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 car insurance premiums.
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 choosing an insurance policy.
In Sherman, car insurance rates dropped from 2016-2017, before steadying out in 2018. Rates decreased again, hitting a low of $44 in 2020, and finished up at $56 in 2021.
How does Sherman compare to neighboring areas?
Why are car insurance rates in Sherman different from other areas?
Car insurance companies will take into account numerous factors when deciding how much to charge for a policy. Where you live will also have a significant impact on your personal policy. This may include things like:
- Availability of off-street parking
- Amount of drivers in the region
- General road safety (how many accidents each locality has)
- Area regulations
- Regional crime rates
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. With the knowledge 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 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 hold on! Compare.com will handle the heavy lifting for you. Just type in your ZIP below, respond to a few questions, and you'll be comparing the cheapest quotes from loads of the car insurance companies providing coverage in Sherman.
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 you can't control like your gender and age but also factors like your vehicle's year, make and model, as well as your driving record, credit score, address, and marital status.
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 by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Sherman?
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 Sherman 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.