You have probably watched the catchy commercials from insurers like Farmers, GEICO, and Nationwide promising big savings, so drivers should just pick the company with the best ad, right?
It’s not that easy, however, as there are a whole bunch of unknown elements like if you are a man or woman, if you have a spouse, and what coverage limits you need. We will touch on the types of things that cause high car insurance rates and should give you a good start in finding the cheapest insurance.
The vehicle requiring insurance is a large factor when shopping around for the most economical auto insurance for uninsured drivers. Vehicles with high performance engines, poor passenger safety features, or a high likelihood of having liability claims will cost quite a bit more to insure than safer, lower-performance models. The information below shows insurance rates for a number of the more affordable automobiles to insure in Texas.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $1,207 |
| Honda Accord EX 4-Dr Sedan | $1,348 |
| Jeep Grand Cherokee Laredo 2WD | $1,397 |
| Hyundai Elantra SE Touring Station Wagon | $1,461 |
| Ford Edge Sport AWD | $1,471 |
| Nissan Altima 2.5 S 4-Dr Sedan | $1,476 |
| Dodge Grand Caravan CV | $1,515 |
| Ford Explorer Eddie Bauer 2WD | $1,523 |
| Ford Escape Limited 4WD | $1,569 |
| Toyota Camry Hybrid | $1,596 |
| Toyota RAV4 4WD | $1,599 |
| Chevrolet Silverado LT Extended Cab 4WD | $1,605 |
| Toyota Camry LE | $1,599 |
| Chevrolet Malibu LS | $1,606 |
| Toyota Prius | $1,604 |
| Dodge Ram Quad Cab ST 2WD | $1,631 |
| Honda Odyssey EX W/Rear Entertainment | $1,673 |
| GMC Sierra SLE Crew Cab 2WD | $1,707 |
| Chevrolet Equinox LTZ AWD | $1,710 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $1,720 |
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Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Prices do not factor in specific garaging location which can increase or decrease premiums significantly.
Looking at the data, you can assume that vehicles like the Honda CR-V, Honda Accord, Jeep Grand Cherokee, Hyundai Elantra, and Ford Edge will definitely be the cheapest vehicles to insure for drivers with no prior coverage.
Finding affordable insurance is not the easiest thing to accomplish, and determining which companies quote the best car insurance rates for uninsured drivers involves even more shopping around. Every auto insurer uses different criteria to determine premium rates, so first let’s look at the rankings for the most budget-friendly car insurance companies in Laredo, TX.
It’s important that you understand Laredo, TX car insurance rates are calculated based on many things that may substantially change the cost of your policy. This price variation is why it is so important to compare rates to find the cheapest car insurance rates for uninsured drivers. Auto insurance prices can be determined by many risk factors and can decrease or increase without notice, so the best option the last time you checked may now be quite expensive.
Compare Cheap Insurance Quotes in Texas
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,010 |
| 2 | USAA | $1,084 |
| 3 | Texas Farm Bureau | $1,211 |
| 4 | Germania Mutual | $1,294 |
| 5 | Esurance | $1,379 |
| 6 | California Casualty | $1,396 |
| 7 | Mercury | $1,461 |
| 8 | State Farm | $1,495 |
| 9 | Safe Auto | $1,549 |
| 10 | Nationwide | $1,585 |
| 11 | Progressive | $1,698 |
| 12 | Allstate | $1,701 |
| 13 | Amica | $1,705 |
| 14 | Home State | $2,071 |
| 15 | GEICO | $2,156 |
| 16 | MetLife | $2,183 |
| 17 | Encompass | $2,255 |
| 18 | Unitrin | $2,264 |
| 19 | 21st Century | $2,469 |
| 20 | Titan | $2,568 |
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Travelers has some of the most affordable car insurance rates in Laredo at around $1,010 per year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the lowest-priced Laredo, TX car insurance companies.
In the above rates, if you buy coverage from USAA and switched to Travelers, you might realize annual savings of upwards of $74. Policyholders with Texas Farm Bureau might save as much as $201 a year, and Germania Mutual policyholders might see rate reductions of $284 a year.
Remember that these premium estimates are averages across all insureds and vehicles and and are not figured with an exact location for uninsured drivers. So the auto insurance company that has the cheapest price for you may not even be in the list above. That’s why you need to compare rates from multiple companies using your own personal information and vehicle type.
One of the more important things that determine auto insurance rates is where your residence is. More densely populated places tend to have more expensive car insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates can boast about having cheaper rates.
The information below shows the most expensive areas in Texas for uninsured drivers to buy an auto insurance policy in. Laredo is listed at #2 with an annual premium of $1,907 for the average policy, which is about $159 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | McAllen | $2,016 |
| 2 | Laredo | $1,907 |
| 3 | Houston | $1,891 |
| 4 | Dallas | $1,855 |
| 5 | Brownsville | $1,851 |
| 6 | Garland | $1,832 |
| 7 | Amarillo | $1,804 |
| 8 | Grand Prairie | $1,793 |
| 9 | Irving | $1,789 |
| 10 | Mesquite | $1,771 |
| 11 | Pasadena | $1,740 |
| 12 | Lubbock | $1,716 |
| 13 | Arlington | $1,709 |
| 14 | Beaumont | $1,702 |
| 15 | San Antonio | $1,688 |
| 16 | Carrollton | $1,664 |
| 17 | Corpus Christi | $1,636 |
| 18 | Austin | $1,627 |
| 19 | Fort Worth | $1,621 |
| 20 | El Paso | $1,616 |
| 21 | Plano | $1,608 |
| 22 | McKinney | $1,577 |
| 23 | Waco | $1,569 |
| 24 | Abilene | $1,499 |
| 25 | Killeen | $1,473 |
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Rates are estimated as the garaging address in Laredo can alter premium rates noticeably.
Full coverage rates compared to liability-only
Finding cheaper car insurance is probably important to most people, and a great way to reduce the cost of insurance for uninsured drivers is to not insure for full coverage. The example below shows the comparison of premium costs with and without physical damage coverage. The information is based on no violations or claims, $1,000 deductibles, drivers are not married, and no discounts are applied.
Averaged for all age groups, full coverage costs an additional $2,131 per year over and above liability coverage. At some point, almost every driver questions when is the right time to remove full coverage. There is no set guideline to exclude full coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than 10% of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your vehicle’s claim settlement value is $12,000 and you have $1,000 deductibles. If your vehicle is destroyed, you would only receive $11,000 after paying the physical damage deductible. If it’s costing you more than $1,100 annually for your policy with full coverage, then it may be the right time to buy liability only.
There are some cases where removing full coverage is not a good plan. If you still owe money on your vehicle, you are required to maintain full coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.
The information below demonstrates how deductible levels can increase or decrease insurance costs when quoting cheap insurance for uninsured drivers. The premium estimates are based on a single male driver, full coverage, and no discounts are applied.
The data above shows that a 30-year-old driver could reduce rates by $490 a year by increasing from a $100 deductible up to a $500 deductible, or save $740 by selecting a $1,000 deductible. Even younger drivers, like the 20-year-old category, could potentially save $1,446 every year by using higher deductibles when buying full coverage. If you do make the decision to raise your deductibles, it will be necessary to have spare funds to enable you to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Ideas to find budget-friendly auto insurance for uninsured drivers
The list below details some money-saving ideas that can help Laredo drivers get more affordable coverage.
- Serious violations like DUI or careless driving can make car insurance unaffordable
- Prevent rate increases by staying accident-free
- Maintaining good credit helps earn cheaper rates
- Home or renters coverage can save on auto insurance
- Raise your deductibles
- Try to not file small claims
- Compare rate quotes frequently
The final tip is especially critical, as we stressed in this piece. Car insurance rates fluctuate constantly, so drivers shouldn’t be reluctant to switch carriers if a better deal can be had.
Sticking with a specific company is fine, but we do not recommend it if that dedication is costing potentially thousands of dollars a year. In just a few minutes you could compare rates to find cheaper insurance for uninsured drivers in Laredo.
If you prefer to have a professional recommendation when trying to find the best insurance rates for drivers with no prior coverage, the agents listed below can probably help you decide which policy is best.
To find an agent closest to you, click the button below the list.
- Allstate Insurance Agent: Mike Cortez
201 W Del Mar Blvd Ste 16 – Laredo, TX 78041 – (956) 723-6453 - Laredo Commercial Insurance Agency
5711 McPherson Rd #202 – Laredo, TX 78041 – (956) 729-0799 - Fred Loya Insurance
618 W Calton Rd – Laredo, TX 78041 – (956) 723-4414 - Farmers Insurance – Rene Benavides
8218 Casa Verde Rd, A-5 – Laredo, TX 78041 – (956) 723-9511