Best Cheap Auto Insurance for a 20 Year Old Male in Texas

Wouldn’t this article be short if we could just tell you the one auto insurance company that has the cheapest rates for 20 year old guys? It’s not quite that easy, unfortunately, as there are many unknowns such as how much liability insurance you need, the amount of driving experience you have, and the type of vehicle you drive, that all impact the cost of your policy. This article delves into the different scenarios that increase car insurance cost and also should give you a good beginning to your search for cheaper coverage.

One of the more important components that help determine the policy price is where you keep your vehicle in Texas. Areas that are more densely populated like McAllen, Dallas, and Houston will most likely pay more, whereas areas that are not as densely populated have the luxury of lower rates.

The following table displays the higher priced cities in Texas for 20 year old guys to buy car insurance in.

Table data uses comparative as the vehicle garaging location can revise coverage rates greatly.

The type of vehicle that is being insured is a large consideration when shopping for the best cheap car insurance for 20 year old guys in Texas. Vehicles with lots of horsepower, poor passenger safety features, or a track record of large liability claims will cost substantially more to insure than more modest models. The next table features car insurance costs for a number of the most budget-friendly vehicles to insure.

Cost estimates assume single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, and claim-free. Price estimates do not factor in specific location which can revise insurance rates substantially.

Based upon these rates, you can presume that makes and models like the Honda CR-V, Chevrolet Traverse, Ford Escape, Chevrolet Silverado, and Toyota Prius are likely to be some of the most budget-friendly vehicles to insure for young men. The cost of a car insurance policy will trend higher because of the fact that there is a higher risk for 20 year old guys, but in general those makes and models will have the cheapest car insurance rates compared to other vehicles.

Shopping around for affordable auto insurance is hard enough, and figuring out which companies have the most affordable car insurance rates for 20 year old guys will take even more perseverance. Prices will be much higher than the average policy in Texas attributed to the added risk that goes along with selling insurance for young men, but affordable insurance may be possible if you are thorough. Each auto insurance company has their own process to determine rates, so we need to take a look at the car insurance companies with the overall cheapest rates in Texas.

Cheap Insurance Rates for Men Age 20

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Travelers may offer some of the most affordable car insurance rates in Texas at around $1,041 each year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the lowest-priced Texas auto insurance companies.

In the rate table above, if you currently have a policy with USAA and switched to Travelers, you may see a yearly savings of in the vicinity of $43. Policyholders with Texas Farm Bureau might save as much as $158 a year, and Germania Mutual insureds might see rate reductions of $215 a year.

Be aware that those estimates are averages for all drivers and vehicles and are not factoring in a rate surcharge for 20 year old guys. So the car insurance company that has the cheapest rates for you may not even be included in the list of companies shown earlier. That points out the importance of why you need to get auto insurance quotes using your own personal information and vehicle type.

Cost of full coverage in Texas

Finding the best cheap car insurance for 20 year old guys in Texas is the goal of the majority of vehicle owners, and one common way to buy cheaper insurance is to not buy full coverage. The information below shows the difference between annual premium costs with and without full coverage. Data assumes no claims or driving violations, $100 deductibles, single status, and no discounts are factored in.

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As an average, full coverage on your policy costs $2,181 per year over liability only. That is a big expense that brings up the question when is it a good idea to stop buying full coverage. There is no clear-cut formula for dropping full coverage on your policy, but there is a general guideline. If the annual cost of coverage is more than 10% of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

Illustration showing the impact of accidents and violations

The ideal way to earn the most affordable car insurance premiums in Texas for young men is to be a good driver and avoid accidents and violations. The diagram below illustrates how speeding tickets and at-fault collisions can influence auto insurance rates for different categories of driver ages. The data assumes a single male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and One Accident’],[‘Age 20’, 3409,3661,4369],[‘Age 30’, 1789,2043,2749],[‘Age 40’, 1761,2013,2719],[‘Age 50’, 1601,1853,2563],[‘Age 60’, 1551,1801,2509],[‘Age 70’, 1887,2139,2847]]);var options = {title: ‘Impact of Citations and Accidents on Texas Insurance Rates’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Texas’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the example above, the average cost of car insurance per year with no accidents or violations is $2,000. Get one speeding ticket and the average cost swells to $2,252, an increase of $252 each year. Now add in one accident along with the one speeding ticket and the 12-month cost of car insurance for 20 year old guys jumps again to an average of $2,959. That’s an increase of $960, or $80 per month, just for not driving attentively!

Cheap insurance quotes for young men

There are quite a few ways to quote and buy car insurance in Texas, but the most preferred methods are from an independent insurance agent, a captive (or exclusive) agent like Allstate or Liberty Mutual, or buying direct from a company like Progressive or Geico.

Each way has the same basic steps, but they are slightly different in how they work.

Independent insurance agencies work with multiple companies and can get rate quotes from all of them. Independent agents are not required to write business for one company and can quote rates with many companies, which can help you get improved odds of finding cheaper coverage. If they find a lower price, they can switch companies in-house which prevents you from having to find a new agency.

An agent who is captive is only able to give prices for a single company, two popular examples being Farmers Insurance or State Farm agents. They generally cannot quote rates from more than one company, so if finding the cheapest coverage is your goal, you will need to shop around.

If you buy direct, you bypass the middleman (the agent) and instead shop direct either online or via phone. This car insurance option is a good choice for drivers who do not have complex finances and have some degree of understanding of what coverage limits and deductibles they need.

So which one of the three ways works best to find the best cheap car insurance for 20 year old guys in Texas? The majority of car insurance shoppers assume that buying direct saves money because you bypass the middleman, but that is generally not the case. A good argument could also be made that using an independent agent guarantees the lowest rates because they can shop around, but again, it’s not a sure thing. And occasionally, exclusive agents have price quotes that independents and direct companies can’t touch.

Because it’s impossible to say who has the best car insurance rates, the one way to find out which one is cheapest is to obtain price quotes and compare them. If you have the time, get quotes from all three to get a good idea who is cheapest. A great place to start is our list of online companies offering discounts: click here to view.

How to find the cheapest auto insurance for 20 year old guys

The list below shows a few money-saving solutions that can help Texas drivers buy the cheapest car insurance.

• Drive safe vehicles
• Pay lower rates with good credit
• Having at-fault accidents will increase rates
• Save money by observing traffic laws and speed limits
• Try to remain claim-free
• Shop your coverage around for the best deal

The last item on the list is extraordinarily important, as was emphasized in the prior information. Car insurance prices go up and down frequently, so you should be ready to change to a new company if a cheaper rate is available.

Many drivers prefer to stick with one company, but is isn’t recommended if that loyalty results in overpaying hundreds every year. Spend a few minutes and shop around and find cheaper car insurance for 20 year old guys.