To any good parent, our babies are our babies, be it a child, or an automobile. I must say that the statement "The driver carting around children tends to be more cautious than the person driving a muscle car" in most cases simply isn't true. Hot rod, muscle car and restored car owners are usually the type of driver that will go out of their way to park away from the other cars. Consider the fact that many of these cars have been built or restored by the driver. Typically the case is this person has an tremendous amount of time and money invested in the vehicle (Have you ever spent $15,000 on a paint job?). A restored muscle car or hot rod is a lot like driving a museum piece, many are rare, some are irreplaceable, so these drivers are many times more likely to be much more cautious so as not to harm their "baby."
Still, the State Farm quotes we received were shockingly expensive when compared to the competition — typically around three times as much. While that’s likely a dealbreaker for most, it’s worth checking personalized quotes yourself, especially if you have a teen driver (for whom they seem to offer more discounts than our other picks). Another point in State Farm’s favor is its website, which is good at helping you understand which coverages best fit your specific needs. We would’ve liked a Live Chat feature, but there are plenty of contact alternatives, including a mobile app.
On average, an at-fault property damage accident will raise your premium by an average of $612 per year. Because most insurance providers will charge you for three years after an accident, this $612 increase equates to more than $1,800 in total fees. If you’re thinking of filing a claim, consider the overall cost of the claim versus what the claim would cost to pay out of pocket. Compare this $1,837 penalty — plus your deductible (if applicable) — to the out-of-pocket expense. While this is nice information to know before filing a claim, it won’t help if you’ve already filed a claim. If you have an at-fault accident on your insurance history, consider USAA or State Farm.
Progressive has a slew of available discounts — sharing the top spot for most discounts with Farmers. There’s even one for adding a newly-licensed teen driver to your existing auto policy (surprising given that teenage drivers are among the riskiest to insure). But a policy loaded with discounts isn’t necessarily cheaper than a non-discounted policy, and the Texas Department of Insurance’s data on premiums show that Progressive is, on average, the most expensive for young drivers among the top five in Texas.
Collision coverage has a deductible, which is the amount you pay before your coverage helps pay for your claim. You can typically choose the amount of your deductible when you buy coverage. So, if you choose a $1,000 deductible and your car is later damaged in a covered accident, you'd have to pay $1,000 toward repair costs. Your collision coverage would help pay the rest, up to your coverage limit.