The car, truck, or SUV that needs insurance is probably the most important factor that determines whether or not you find low-priced coverage for real estate agents. Vehicles with high performance features, a lack of modern safety features, or a history of substantial liability claims will cost quite a bit more to insure than safer models.
The next list ranks insurance prices for the more affordable vehicles to buy coverage for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape Limited 2WD||$1,198|
|Honda CR-V EX-L 4WD||$1,240|
|Jeep Wrangler Sport 4WD 2-Dr||$1,260|
|Dodge Grand Caravan Hero||$1,265|
|Honda Accord EX-L 4-Dr Sedan||$1,272|
|Chevrolet Malibu LT||$1,288|
|Ford Explorer XLT 4WD||$1,312|
|Chevrolet Silverado LS Regular Cab 4WD||$1,326|
|Hyundai Elantra GLS 4-Dr Sedan||$1,335|
|Honda Odyssey EX-L W/Rear Entertainment||$1,344|
|Toyota Corolla LE||$1,335|
|Ford F-150 STX Super Cab 4WD||$1,340|
|Hyundai Sonata GLS 4-Dr Sedan||$1,356|
|Chevrolet Equinox LTZ AWD||$1,358|
|Ford Fusion SEL 4-Dr Sedan||$1,367|
|Ford Edge SEL 2WD||$1,358|
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Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Rate quotes do not factor in zip code location which can influence auto insurance rates significantly.
By looking at the data, vehicles like the Ford Escape, Honda CR-V, Jeep Wrangler, and Dodge Grand Caravan are most likely going to be a few of the cheaper vehicles to insure for realtors.
For realtors, one of the more important factors that aid in calculating auto insurance rates is where your residence is. Areas with more people or even just a higher incidence of claims are more likely to have higher rates, whereas areas with less people or fewer weather incidents have the benefit of cheaper auto insurance prices.
The next table shows the highest-priced areas in Texas for real estate agents to purchase a policy in. Lubbock shows up at #15 with an annual cost of $1,665 for the average insurance policy, which is around $139 each month.
|Rank||City||Average Per Year|
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Information shown are comparative as the vehicle garaging location can alter auto insurance rates significantly.
How to get discounts on Lubbock auto insurance rates
Insurance providers that provide policies for real estate agents may additionally offer rate discounts that could reduce prices by 30% or more if you qualify. Companies and a selection of discounts can be read below.
- State Farm policyholders can earn discounts including multiple autos, safe vehicle, accident-free, anti-theft, good driver, and multiple policy.
- Progressive may offer discounts for online signing, continuous coverage, multi-policy, good student, and homeowner.
- Progressive offers discounts for multi-vehicle, good student, multi-policy, homeowner, and continuous coverage.
- MetLife may have discounts that include good student, defensive driver, multi-policy, claim-free, good driver, accident-free
- Farm Bureau offers premium reductions for 55 and retired, multi-vehicle, safe driver, youthful driver, renewal discount, and good student.
- GEICO may include discounts for driver training, anti-lock brakes, five-year accident-free, military active duty, membership and employees, seat belt use, and good student.
- SAFECO has discounts for anti-lock brakes, teen safe driver, multi-car, drive less, accident prevention training, and anti-theft.
The information below illustrates the difference between yearly insurance costs with and without discounts. The premium estimates are based on a male driver, no accidents or driving violations, Texas state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with safe-driver, multiple vehicle, vehicle safety, anti-theft, defensive driving course, and homeowner discounts applied. When discounts are factored in, theaverage amount saved on insurance for real estate agents is 28% or $745.
The information below shows how different deductible levels can affect annual premium costs when getting quotes for cheap insurance for real estate agents. The costs are based on a married male driver, comp and collision included, and no discounts are factored in.
As shown above, a 50-year-old driver could reduce rates by $318 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $480 by changing to a $1,000 deductible. Even younger drivers, like the 20-year-old, could roll back prices $1,060 or more by choosing a larger deductible amount.
If you do raise deductibles, it is important to have plenty of savings on hand to allow you to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
The importance of shopping around
Lubbock, TX insurance rates are calculated based on many things which can substantially decrease or increase the cost of a policy. Improving your credit rating, buying a home, or getting a ticket for careless driving may generate price changes that can cause some rates to be more affordable than others. Additionally, companies amend premium rates as needed in order to be able to pay unexpected claims. Higher than normal claims may result in higher priced premiums, while lower claims can produce cheaper Lubbock car insurance rates.
As an example, the chart below shows which companies have the cheapest car insurance in Lubbock, TX for a 30-year-old male driver with a clean driving record, no accidents, and good financial standing. When comparing rates based on his current situation, Travelers offers the cheapest car insurance rates in Lubbock at $1,189 a year. This is $715 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also on the list of the cheapest Lubbock, TX auto insurance companies.
The chart below compares rates after we give the driver in the first chart a chargeable accident, less-than-perfect credit, and a few blemishes on his driving record. Since every car insurance company has a proprietary formula to set premium rates, comparing insurance quotes could result in a slightly different list of affordable Lubbock car insurance companies as shown below.
State Farm now has the cheapest price in Lubbock with USAA, Mercury, Nationwide, and Safe Auto also being competitive. This example shows why Lubbock drivers need to shop around when trying to find affordable auto insurance rates for real estate agents.
Car insurance prices are influenced by many things and can change without notice, so the most economical option the last time you shopped your coverage around may now be one of the more expensive options.