Given that Austin is the fourth most populous city in Texas and that it is recognized as one of the most dangerous cities for Texas drivers, one would think that car insurance in Austin would be rather expensive. Luckily, though, that isn’t always the case – if you know where to look and how to leverage the right opportunities you can take advantage of the best cheap car insurance in Austin. In fact, the average annual cost of minimum coverage in Austin is $548, while the average full-coverage cost is $1,798 – which is comparative to the average annual cost for car insurance in Texas as a whole.
And while pricing for auto insurance in Austin can vary greatly depending on factors like your gender, driving history, car you drive, age, zip code and more, you are able to find the best deal for you by taking into account the best insurance companies in Austin and things like available discounts. To help with this process, Bankrate compiled a list of both the best overall car insurance companies and the best cheap car insurance companies in Austin by comparing customer satisfaction, average annual premiums, available discounts, coverage options and financial strength.
Best car insurance companies in Austin
We have looked at car insurance companies in Austin and have considered a number of factors to bring you the top five choices for your auto insurance needs. To determine which five companies to highlight, Bankrate looked at affordability, customer satisfaction, discounts offered and financial strength. Below is a table that shows each company’s J.D. Power Score and average annual premiums for minimum and full coverage.
| Insurance Company | J.D. Power Score | Average Annual Premium for Minimum Coverage | Average Annual Premium for Full Coverage |
|---|---|---|---|
| Geico | 846 / 1000 | $392 | $1,235 |
| State Farm | 844 / 1000 | $536 | $1,409 |
| Nationwide | 820 / 1000 | $584 | $1,561 |
| Allstate | 832 / 1000 | $531 | $1,799 |
| USAA | 878 / 1000 | $425 | $1,374 |
Geico
Geico offers its customers both competitively priced car insurance in Austin and 24/7 customer service options to help with any difficulties or issues that may arise. Additionally, Geico has a wide variety of both policy options and available discounts, giving you the ability to truly customize your auto insurance experience. With things like emergency roadside assistance, car rental reimbursements and extended warranties as optional coverages you can add on, Geico has you covered no matter what your situation. Additionally, you can gain discounts for having a new vehicle, being a good driver, being a good student, being a member of the military and more.
Additionally, Geico offers the lowest rates of the carriers highlighted in this section, with the average annual auto insurance costs being $1,235 for full coverage and $392 for minimum coverage.
State Farm
State farm is another top insurance company in Austin providing a wide variety of policy options for auto insurance. Car insurance rates are slightly higher than Geico’s at $520 annually for minimum coverage and $1,388 annually for full coverage.
In addition to decent rates, State Farm offers the ability to customize your auto insurance policy with both policy options and discount options. While State Farm offers standards coverages like collision insurance and comprehensive insurance, the company also gives you the option of rental insurance, emergency road service coverage and rideshare insurance. And in terms of discounts, State Farm offers everything from multiple safe driving discounts to bundling discounts – and more.
Nationwide
Nationwide provides a variety of options for drivers to find a car insurance quote in Austin that works best with their needs and goals. Although the average minimum annual premium is $704 and the average annual full coverage premium is around $1,518, all drivers have different insurance needs, so it’s best to determine what your cost will be through the website. To offset some of the higher costs, Nationwide features On Your Side Claims Service, various discounts, On Your Side Review and a hub of resources for easy access.
Allstate
Allstate is the most expensive out of the list of the top insurance companies in Austin at an average of $804 annually for minimum coverage and $2,118 annually for full coverage. Allstate provides personalized and quick quote services to help you find an insurance that matches your budget and needs quickly. One of the features that makes Allstate stand out is the insurance firm’s pay-per-mile car insurance option. So this might be a great option to save money while having top notch insurance for drivers who do not drive very often. Allstate also offers car sharing features to help drivers safe money and miles, discounts, and a hub of resources for education.
USAA
USAA features one of the cheapest rates in Austin at $390 annually for minimum coverage and $1,152 annually for full coverage but is only available to military members and their families. Premiums are calculated by your age, driving history, membership loyalty, vehicle make and model, location, and vehicle usage. With the membership loyalty, those who have a history with USAA would be able to save more continuing auto insurance with USAA. If you have a clean driving record and history, don’t drive a lot, and a newer vehicle, USAA may provide the most affordable car insurance quotes.
Cheapest car insurance in Austin
The average cost of full coverage auto insurance in the United States is $1,738 per year. However, premium costs really depend on your location, age, driving history, driving record, credit score and more. The average car premium rate in Texas is slightly higher than the average US rate at $496 annually for minimum coverage and $1,800 for full coverage.
The following table looks at the cheapest car insurance rates from the most popular carriers based on market share.
| Insurance Company | Average Annual Premium for Minimum Coverage | Average Annual Premium for Full Coverage |
|---|---|---|
| Geico | $392 | $1,235 |
| USAA | $425 | $1,374 |
| Mercury | $514 | $1,729 |
| Allstate | $531 | $1,799 |
| State Farm | $536 | $1,409 |
Geico and USAA offer auto insurance premiums cheaper than the average annual rate that Texans would pay, while Mercury, Allstate and State Farm provide slightly higher premiums than the average. State Farm, Allstate, and Geico offer the most extensive list of discounts that drivers can apply to save costs on their premiums. From some of the more common discounts such as good driver and good student discounts, to the less common discounts such as low mileage, low vehicle usage, military, government discounts and more.
The AM Best ratings of these insurance companies are also quite high with Geico, State Farm, and USAA at superior A++ ratings, Mercury at an Excellent A rating, and Allstate at an A+ Superior rating.
Out of the list of these insurance companies, Allstate and State Farm provide the best educational resources for policyholders. All insurance companies provide apps to policyholders for easy use.
Austin insurance requirements
Although everyone’s insurance needs are different, the minimum coverages that drivers in Austin and in Texas are required to have are:
- Liability Coverage: $30,000 per person and $60,000 per accident
- Property damage liability: $25,000
- Personal injury protection (PIP): $2,500, however, you can reject this coverage.
- Uninsured motorist bodily injury: $30,000 per person and $60,000 per accident, however, this coverage can be rejected.
- Uninsured motorist property damage: $25,000 with a $250 deductible, however, you can reject this coverage
It is important to consider more options and even full coverage options in Austin. While minimum car insurance coverage can cover your basic necessities, you may want to consider full coverage for collision and comprehensive insurance to cover your medical and vehicle repair costs in the event you are in an at-fault accident. A few other reasons you may want to consider full coverage is depending on the age of your vehicle and whether your vehicle is leased or owned or financed. State minimum liability limits may not cover your medical and vehicle repair costs financially in the event of an accident.
Car insurance discounts in Austin
Drivers in Austin may be eligible for some discounts depending on their circumstances. Each auto insurance company in Austin provides a list of discounts to help drivers pay less in premiums. Below are a few discounts offered in Austin:
- Good student discounts – Oftentimes, drivers who are enrolled in full-time education and able to maintain a particular GPA will find themselves eligible for some form of good student discount on their car insurance premiums.
- Multi-policy discounts – Most companies will give drivers the option of saving on their insurance premiums if they bundle policies, for example taking out both a home and auto insurance policy with the same company.
- Low mileage discount – Drivers who do now drive many miles per year are often eligible for some sort of discount.
- Accident-free Discount – Drivers who have a clean driving record with no accidents will often find that they are able to receive a discount in return.
- Safe driver discount – Doing things like completing a safe driving course can make you eligible for a discount on your car insurance.
Frequently asked questions
What is the best car insurance company?
The best car insurance companies depend on a number of things about the company as well as a number of personal factors. Things like the type of coverage you are searching for and your budget will help determine the best car insurance company for you. While things like J.D. Power Scores, AM Best Financial Strength ratings and company rates will help you determine where best to start your research.
How much car insurance do I need in Austin?
Drivers in Austin and all of Texas are required to have the minimum coverage by law. The minimum coverage that any driver can get is $30,000 per person and $60,000 per accident for bodily injury liability, $25,000 for property damage, and $2,500 for personal injury protection (unless you reject this coverage). However, it is recommended to get full coverage to protect yourself from spending in the event of an accident.
Methodology
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a cleaning driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2018 Honda Accord, commute five days a week and drive 12,000 miles annually.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
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