Best Cheap Laredo Auto Insurance

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The best way to find cheaper auto insurance in Laredo, TX, is to take a look at some of the elements that come into play when calculating the level of your policy premiums. When consumers understand what determines base rates, this enables you to make decisions that may result in big savings.

City dwellers may pay more - Residing in smaller towns and rural areas of Texas is a positive aspect when buying car insurance. Less people living in that area means fewer accidents. Residents of big cities tend to have more road rage incidents and much longer commute distances. The longer drive time means higher likelihood of an accident.

Can a thief steal your car? - Choosing to buy a car with an alarm system can get you a discount on your premium. Theft prevention devices like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems can thwart car theft and help bring rates down.

Pay less if you're married - Getting married actually saves money compared to being single. Marriage generally demonstrates drivers are more financially stable and statistics prove being married results in fewer claims.

Good drivers pay the best premiums - Your driving citation history influences premium rates substantially. Having just one speeding ticket or other violation may cause rates to rise to the point where it's not affordable. Drivers with clean records have lower premiums compared to bad drivers. Drivers who get careless violations such as DWI, reckless driving, or hit and run convictions may face state-mandated requirements to file a SR-22 with the Texas DMV in order to prevent their license from being revoked.

Extra coverages are wasting money - Insurance companies have many extra coverages that you can buy if you don't pay attention. Things like personal injury protection, high-cost glass coverage, and term life insurance could be just wasting money. These coverages may sound good initially, but your money might be better spent on other coverage so remove them from your policy.

Performance affects insurance prices - The performance of the vehicle you are insuring makes a huge difference in your auto insurance rates. Smaller, low performance passenger cars generally receive the lowest base rates, but that's not the only thing that factors into the final price.

Credit rating impacts premium prices - Your credit score can be a huge factor in determining what you pay for car insurance. Consumers who have very high credit ratings tend to file fewer claims and have better driving records as compared to drivers with lower ratings. If your credit can be improved, you may save money insuring your vehicle by spending a little time repairing your credit.

Insurance rates in Laredo are dependent upon many factors, and one of the primary components is the vehicle you are insuring. The next table shows insurance cost for some of the most popular vehicles bought in Laredo.

Car Insurance Rates for Popular Cars in Laredo
Make, Model, and Trim Level Annual Cost Semi-Annual Cost Monthly Cost
Ford Focus SE 2-Dr Coupe $1,134 $567 $95
Ford Fusion SEL AWD 4-Dr Sedan $1,164 $582 $97
Honda Accord LX-P 4-Dr Sedan $854 $427 $71
Hyundai Elantra GLS Touring Station Wagon $854 $427 $71
Kia Optima SX $1,158 $579 $97
Nissan Altima 2.5 4-Dr Sedan $1,010 $505 $84
Toyota Camry XLE $1,064 $532 $89
Volkswagen Jetta SEL 4-Dr Sedan $1,088 $544 $91
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Table data represents married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Price estimates do not factor in vehicle garaging location which can affect rates substantially.

Insurance Rates for Popular Pickup Trucks in Laredo
Make, Model, and Trim Level Annual Cost Semi-Annual Cost Monthly Cost
Chevrolet Colorado LT Extended Cab 4WD $854 $427 $71
Chevrolet Silverado 2500HD LT Crew Cab Diesel 4WD $1,164 $582 $97
Chevrolet Silverado LS Crew Cab 2WD $1,158 $579 $97
Dodge Ram Crew Cab Sport 4WD $1,180 $590 $98
Ford F-150 XL Regular Cab 4WD $956 $478 $80
Ford F-250 XL Crew Cab 4WD $1,220 $610 $102
Ford F-350 Crew Cab Harley Turbo Diesel 4WD $1,448 $724 $121
GMC Sierra 3500HD SLT Extended Cab 2WD $1,110 $555 $93
GMC Sierra Denali Crew Cab 2WD $1,164 $582 $97
Toyota Tundra Limited Crew MAX 4WD $1,180 $590 $98
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Table data represents married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Prices do not factor in garaging location in Laredo which can increase or decrease coverage rates considerably.

Insurance Rates for Popular SUVs and Crossovers in Laredo
Make, Model, and Trim Level Annual Cost Semi-Annual Cost Monthly Cost
Acura MDX Advance 4WD $1,110 $555 $93
Buick Enclave XL AWD $1,110 $555 $93
Chevrolet Traverse LT AWD $954 $477 $80
Ford Escape Limited 2WD $876 $438 $73
Ford Explorer XLT 4WD $956 $478 $80
GMC Acadia SLT 2WD $1,010 $505 $84
Honda CR-V LX 4WD $854 $427 $71
Honda Pilot EX 4WD $980 $490 $82
Jeep Grand Cherokee Laredo 2WD $1,010 $505 $84
Kia Sportage LX 2WD 4-Dr $934 $467 $78
Nissan Pathfinder SE 2WD $956 $478 $80
Subaru Forester XT Limited Edition W/Navigation AWD $1,030 $515 $86
Toyota Highlander SE 2WD $1,034 $517 $86
Toyota RAV4 Limited 4WD $1,010 $505 $84
Volvo XC90 3.2 AWD $1,164 $582 $97
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Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Price estimates do not factor in vehicle garaging location which can modify coverage prices noticeably.

Texas Full Coverage Insurance vs. Liability-only Insurance Rates

The diagram below illustrates the comparison of car insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The costs are based on no tickets, no at-fault accidents, $100 deductibles, drivers are not married, and no other discounts are factored in.

When to drop comprehensive and collision

There is no written rule to delete physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is about 10% or more of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.

For example, let's pretend your vehicle's claim settlement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $8,000 after you pay the deductible. If premium cost is more than $800 a year for physical damage coverage, then it might be time to buy liability only.

There are some situations where only buying liability is not financially feasible. If you haven't paid off your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not opt for liability only.