This moderately large city of 116,783 residents is home to the University of Texas. The town of Richardson has a definite college feel and is rich in culture, making it diverse.
If you are a Richardson local, you need car insurance to explore this charming city. Click on this tool independent insurance agent to find an agent near you who can help you find a car insurance policy at a reasonable price.
How Much Does Car Insurance Cost in Richardson, TX?
It's essential to know if you are getting a good price when it comes to your car insurance. With Richardson being a college town and having many younger drivers, the rates may be higher than other Texas cities. The average auto insurance premium in Texas is $1,823, which is higher than the national average of $1,005 annually.
Premium Factors for Your Richardson Car Insurance:
- Location: The frequency of claims in the area where you live will affect your premiums.
- Weather risks: Texas is no stranger to tornadoes, and that can affect your rates too.
- Crime rates: The lower the crime rate in Richardson, the less you'll pay in car insurance.
- Claims history: Your carrier will add a surcharge if you've filed a lot of claims in the past.
- Bundling: If you have multiple policies with the same carrier, you could save big time on rates with multi-policy discounts.
- Coverage selection: The amount of coverage you select will impact your premiums.
If you work with a local agent, they know the area and can advise accordingly. Your independent agent knows which carriers and coverages you need as a resident of Richardson.
Car Insurance Requirements in Richardson, TX
The majority of states in the US require some form of car insurance coverage to drive. If you are found without the proper insurance, you could be fined or jailed. Texas has minimum liability limits that they require to use their roadways:
- You must carry a minimum of $30,000 per person/ $60,000 per accident/ $25,000 property damage
Liability insurance can range in limits from $25,000 to $1,000,000 plus. The assets you have to insure and their values will determine how much coverage you need. With roadway fatality rates coming in at 36,120 in 2019 alone, you'll want proper protection.
Umbrella Liability Insurance
If you want added coverage, an umbrella policy is the way to go. It provides an additional liability limit starting at $1,000,000 that goes over your underlying policies. Once you've exhausted your car policy's liability limits, your umbrella coverage will kick in.
It's likely that the state requirements are not enough to cover a lawsuit by a grieving family member if you're at fault. Speak with your Richardson agent to go over your limits of liability.
Other Auto Policy Coverages in Richardson, TX
In addition to the state liability requirements, there are optional coverages you may want on your auto policy. To get the most accurate and sufficient car insurance, speak with your independent agent. Let's look at coverage options in Richardson, TX:
- Comprehensive coverage: Replaces or repairs your vehicle from a non-collision loss.
- Collision coverage: Replaces a vehicle in the event of a collision loss.
- Gap coverage: Pays for the difference between the amount left on a covered auto's loan and the car's value in the case of a total loss.
- Rental coverage: Pays for a rental car when a covered auto is damaged by a covered loss.
- Tow coverage: Will pay for a tow for a covered auto.
Uninsured and Underinsured Motorists Coverage in Richardson, TX
Another important coverage in your car policy is uninsured/underinsured motorist. This coverage will pay for a loss when another driver is at fault but doesn't have insurance. With the number of drivers that still don't carry car insurance, this coverage is essential. Let's look at the numbers:
- National percentage of uninsured drivers: 13.0%
- Texas percentage of uninsured drivers: 14.1%
By default, a portion of those uninsured drivers live in Richardson, TX. Car insurance claims occur often, and it may be best not to take a chance on coverage. To better protect yourself and your family, speak with your independent agent about uninsured/underinsured motorist insurance.
Richardson, TX Crime and How It Impacts Your Car Insurance
No matter where you live, crime and theft exist. Crime rates will impact your car insurance premiums positively or negatively. If your car gets broken into, comprehensive coverage will help pay for items stolen. It's important to know your city's average theft rate to gauge where you are on the scale.
Average Theft Rates:
- National average (per 1,000 vehicles): 2.37
- Texas average (per 1,000 vehicles): 2.48
- Richardson average (per 1,000 vehicles): 1.94
On the bright side, the theft rate in Richardson is less than the state and national averages. This means your car insurance costs could be less than in other cities. Check with your independent agent about your specific premiums.
How a Richardson, TX Independent Agent Can Help
When you are looking for the right car insurance, it can be challenging to know where to start. If you work with an independent insurance agent, you will have access to dozens of carriers.
An independent agent can offer you options for coverage and premiums, so you don't have to shop around. Go to TrustedChoice.com to find the best independent agent for you in Richardson.
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City of Richardson