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Most parts of the United States require vehicle owners to carry certain types and amounts of car insurance. El Paso is no exception, making it compulsory for drivers to have at least the minimum auto liability coverage required in Texas. Although the average cost of car insurance in the city is higher than the state average, you can do comparison shopping to find an affordable policy. Take a look at this comprehensive guide to learn more about car insurance El Paso, Texas:
How Much Auto Insurance Is Required in El Paso?
Every motor vehicle driven or parked on roadways within Texas must be insured. As stated in an Insurify article, El Paso drivers are required to always carry proof of insurance in their cars and provide it in the following situations:
- When a law enforcement officer wants to check your auto insurance status.
- When you’re renewing your vehicle registration.
- When your car is involved in an accident.
According to Benzinga, it’s compulsory for all drivers in El Paso to meet the statewide minimum auto liability coverage requirements, which include:
- $30,000 for accidents involving only one person.
- $60,000 for accidents involving multiple people.
- $25,000 for property damage.
Should You Purchase Only the Minimum Auto Insurance Coverage?
To avoid legal trouble in the event of a multi-vehicle accident, it’s a good idea to purchase higher auto liability coverage limits. If you cause an accident, minimum liability coverage may not fully cover your financial losses. To get compensation for your medical bills and vehicle repair costs, you should also consider buying other types of coverage. However, this can significantly increase your premium.
How Much Does Auto Insurance Cost in El Paso?
On average, drivers in El Paso pay $1442 per year for auto insurance, says The Zebra. This amount is higher than the state average of $1415 and lower than the national average of $1548. It’s important to note that auto insurance premiums can vary substantially among insurance companies. Therefore, you need to compare quotes from different companies and carefully choose your insurer. Also, bear in mind that car insurance quotes are determined based on your driving profile.
For the average auto insurance consumer in El Paso, GEICO is the cheapest provider. Below are a number of car insurance providers in El Paso that offer affordable rates:
- GEICO: $1183 per year.
- State Farm: $1308 per year.
- USAA: $1309 per year.
- Allstate: $2364 per year.
What Are the Factors That Influence Auto Insurance Rates in El Paso?
Car insurance providers in El Paso look at a number of factors when coming up with quotes. Some of these factors include:
Age
In El Paso, 50-something drivers are the age group that enjoys the most affordable car insurance rates, paying only $1246 per year. Those in their 60s are a close second with an average annual premium of $1280. Teenagers are the drivers who pay the most for auto insurance, but they typically see their rates drop significantly when they reach their 20s. The average cost of car insurance for teen drivers in El Paso is $3538 per year, which is $2258 higher than the next most expensive average premium for any age group.
The following are the average auto insurance rates for drivers of different age groups in El Paso:
- Teens: $3538 per year.
- 20s: $1861 per year.
- 30s: $1418 per year.
- 40s: $1379 per year.
- 50s: $1246 per year.
- 60s: $1280 per year.
- 70s: $1549 per year.
Marital Status and Gender
In many locations, drivers who are married pay less for auto insurance than single people. However, on average, married people in El Paso face the same car insurance rate as their single counterparts. Also, widowed drivers typically get more affordable premiums than single drivers, which is also the case in El Paso. Your gender can also influence your auto insurance rate. In El Paso, the difference in yearly auto insurance premiums between genders is $21, with men paying more than women.
Below are the average auto insurance costs in El Paso by marital status and gender:
- Male: $1442 per year.
- Female: $1421 per year.
- Married: $1339 per year.
- Single: $1339 per year.
- Divorced: $1442 per year.
- Widowed: $1309 per year.
Driving Record
Regardless of where you live, maintaining a good driving record is an effective way to lower your auto insurance rates. At-fault accidents, reckless driving citations, speeding tickets, and DUIs can all lead to an increase in your car insurance cost. Two of the costliest citations you can receive are reckless driving and DUI. In El Paso, drivers who are caught driving recklessly see their premiums increase by $726 compared to the average rate in the city, while those who are found guilty of DUI pay $754 more.
Check out the average costs of auto insurance for drivers in El Paso with different traffic violations:
- At-fault accident with less than $1000 in damages: $1795 per year.
- At-fault accident with more than $2000 in damages: $2150 per year.
- Exceeding the speed limit by 16 to 20 mph: $1564 per year.
- Reckless driving: $2178 per year.
- DUI: $2196 per year.
Credit Score
In most situations, your credit score has a close correlation with your auto insurance premiums. In El Paso, drivers who manage to improve from the “very poor” bracket (300 to 579) to the “exceptional” bracket (800 to 850) can save up to 60 percent on their car insurance costs. Even if you only succeed in moving up to the “fair” tier (580 to 669) from the “very poor” tier, you’ll see your premium decrease by $1226.
The following are the average auto insurance rates for El Paso drivers belonging to different credit score ranges:
- Very poor: $3017 per year.
- Fair: $1792 per year.
- Good: $1442 per year.
- Very good: $1339 per year.
- Exceptional: $1196 per year.
While it can help you save substantially, purchasing only the minimum car insurance coverage required in El Paso may not be the best option. In the event that you cause a major collision, your minimum policy may not be enough to cover all your financial losses. The best thing to do is to find the cheapest policy that offers adequate protection.
Check this out if you need additional information, resources, or guidance on car insurance.
Sources:
Cheap Auto Insurance Quotes in El Paso, TX (2021) | insurify.com
Cheap Auto Insurance in El Paso, TX | benzinga.com
El Paso, TX Car Insurance | thezebra.com
Minimum Liability Insurance: Everything You Need to Know | caranddriver.com
Car Insurers: Everything You Need to Know | caranddriver.com
Auto Insurance Facts: Everything You Need To Know | caranddriver.com
Car Insurance | caranddriver.com
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