Average car insurance cost in Austin, TX

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The average car insurance cost in Austin, Texas is $1,930 per year, according to Insure.com data. This is $113 less than the average auto insurance cost in Texas and $35 more than the national average, as analyzed by Insure.com.

The rates can vary wildly depending on where they are filed. City demographics, including population density and average resident age, will affect how much money you spend on premiums which could make it cheaper or more expensive than other areas with different factors like accident rates, theft and vandalism rates, etc.

The article covers information on – the cheapest car insurance providers in Austin, the average car insurance rates by age, gender and how much is car insurance in Austin based on coverage limits. Whether you’re a new driver or have been driving for years, this article can help you find the best deal on cheap car insurance in Austin. Read on to learn more.

Cheap car insurance companies in Austin

Nationwide offers the cheapest car insurance in Austin, at an average of $1,406 per year with full coverage limits of 100/300/100.

The second cheapest company in Austin is Texas Farm Bureau, offering car insurance rates at $1,418 per year.

As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Austin before deciding on the policy that matches your requirements.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Austin, Texas:

Read about the best car insurance companies.

Average car insurance cost in Austin by coverage limits

The average car insurance rates in Austin based on coverage types are as follows:

• State minimum coverage: $600 per year (limits are 25/50/25)
• Liability only coverage: $775 per year (limits are 50/100/50)
• Full coverage: $1,930 per year (limits are 100/300/100)
• Non-owners coverage: $500 per year

In many states, it’s a legal requirement for drivers to maintain the state minimum coverage, although these requirements vary by state. The state minimum coverage does not cover vehicles listed on your policy in an at-fault accident.

To avoid the risk of insufficient coverage and out-of-pocket expenses, it’s advisable to opt for full coverage or non-owner coverage, especially if you frequently borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Austin

The average car insurance per year for female drivers in Austin, Texas, is $1,922.

Whereas the yearly average car insurance rate for male drivers is $1,938, which is $16 more than what female drivers pay.

According to the Insurance Information Institute, women are considered to be safer drivers than men, and statistics have proved this. They often enjoy lower auto insurance premiums due to their lower incidence of severe accidents compared to men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Austin

In Austin, car insurance rates are the highest for teens, at $4,607 per year or $384 per month. The rates are higher for teenagers (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road, according to the Insurance Information Institute. There are driving laws for teens to help them drive better. Also, teen insurance rates can be lowered by adding teens to a parent’s auto insurance policy.

Car insurance rates are bound to decrease as teens grow older and earn a good driving record. Young adults pay $2,972 per year for their car insurance which is $1,635 less than what the teens pay for their insurance policy.

The car insurance rates in Austin for adult and senior drivers are $1,943 and $1,896 per year respectively.

The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below depicts the average annual rates for drivers of different age groups:

Car insurance rate trends in Austin

Examining the trends in car insurance rates in Austin, Texas, there was an upward trend from 2022 to 2023. Between 2022 and 2023, rates increase overall by 5% or $94.

The table below illustrates the trend over the three years:

Conclusion

In conclusion, the insurance rates in Austin, are lower than the average insurance cost in Texas. Shopping around and taking advantage of available discounts, drivers in Austin can find affordable car insurance options. Additionally, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.