Who Has Affordable Laredo Auto Insurance for Veterans?

You have probably seen the commercials from auto insurance companies like Allstate and Farmers claiming enormous savings. So you should just choose the one with the flashiest ad, right?

It’s not that easy, however, as there are a whole bunch of unknown aspects such as the type of vehicle you drive, whether you are male or female, your financial stability, and if you have maintained coverage continuously. We know insurance is not everyone’s favorite topic, but in this article we will cover the different ways to avoid overpaying and hopefully give you enough understanding to have a good beginning to your search for cheaper coverage.

The make and model of vehicle to be insured is probably the most important factor when comparing the most economical auto insurance for veterans. Vehicles with lots of speed or power, poor crash test ratings, or a history of substantial liability claims will cost more to insure than more modest models. The information below shows coverage rates for a handful of the most budget-friendly automobiles to insure.

Cheapest Vehicles to Insure in Laredo, TX
Make and Model Estimated Cost for Full Coverage
Honda CR-V LX 2WD $1,100
Hyundai Elantra SE Touring Station Wagon $1,194
Honda Accord EX-L 4-Dr Sedan $1,204
Ford Explorer Eddie Bauer 2WD $1,238
Honda Odyssey EX W/Rear Entertainment $1,276
Ford Escape Limited 4WD $1,305
Toyota Tacoma Double Cab 4WD $1,330
Ford Focus SEL 4-Dr Sedan $1,346
Dodge Grand Caravan SE $1,348
Ford Edge Sport AWD $1,374
Toyota Prius $1,376
Chevrolet Malibu LTZ $1,399
GMC Sierra SLE Crew Cab 4WD $1,409
Jeep Grand Cherokee Limited 4WD $1,399
Chevrolet Equinox LS 2WD $1,420
Toyota RAV4 Limited 2WD $1,425
Nissan Rogue SL AWD $1,466
Dodge Ram Quad Cab ST 2WD $1,471
Jeep Wrangler Unlimited Sahara 2WD 4-Dr $1,484
Chevrolet Silverado LTZ Crew Cab 2WD $1,492
Chevrolet Impala LTZ $1,494
Nissan Altima 2.5 S 4-Dr Sedan $1,499
Kia Optima LX $1,520
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Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Rate information does not factor in specific location which can modify premium rates greatly.

Looking at the numbers, cars like the Honda CR-V, Hyundai Elantra, and Honda Accord will be the more affordable vehicles to insure for veterans.

One of the more important factors that aid in calculating the price you pay for insurance is your address. Regions with more people or even just more weather-related claims tend to have higher auto insurance costs, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of cheap car insurance rates.

The next table shows the highest-priced places in Texas for veterans to buy an auto insurance policy in. Laredo makes the list at #3 with the annual price of $1,907 on average, which is about $159 each month.

How much does car insurance cost in Laredo, TX?
Rank City Annual Premium
1 McAllen $1,936
2 Brownsville $1,927
3 Laredo $1,907
4 Dallas $1,855
5 Houston $1,853
6 Garland $1,832
7 Mesquite $1,825
8 Amarillo $1,804
9 Pasadena $1,740
10 Grand Prairie $1,740
11 San Antonio $1,739
12 Lubbock $1,733
13 Beaumont $1,720
14 Irving $1,719
15 Arlington $1,658
16 McKinney $1,625
17 El Paso $1,616
18 Carrollton $1,615
19 Austin $1,610
20 Plano $1,608
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Rates are approximated as the specific garaging location can decrease or increase coverage prices noticeably.

Trying to find low-cost insurance is difficult, and deciding which company offers the lowest-priced car insurance rates for veterans involves a bit more work.

Each auto insurance company uses a different method for setting prices, so let’s begin by taking a look at the car insurance companies that tend to be cheaper in Laredo.

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Rankings for the cheapest car insurance companies in Texas
Rank Company Cost Per Year
1 Travelers $1,052
2 USAA $1,084
3 Texas Farm Bureau $1,235
4 Germania Mutual $1,294
5 Esurance $1,379
6 California Casualty $1,396
7 State Farm $1,465
8 Mercury $1,506
9 Safe Auto $1,549
10 Nationwide $1,600
11 Progressive $1,647
12 Allstate $1,650
13 Amica $1,705
14 Home State $2,134
15 GEICO $2,156
16 MetLife $2,227
17 Unitrin $2,241
18 Encompass $2,255
19 21st Century $2,494
20 Titan $2,568
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Travelers normally has some of the best car insurance rates in Laredo at around $1,052 annually. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the more affordable Laredo, TX insurance companies.

As shown in the rates above, if you are insured with Texas Farm Bureau and switched to Travelers, you might see a yearly price reduction of approximately $183. Policyholders with Germania Mutual may save as much as $242 a year, and Esurance policyholders might lower prices by up to $327 a year.

To get a quick, customized rate comparison, click here to start your free quote or feel free to get quotes from the companies below.

It’s important to note that these premiums are averages across all drivers and vehicles and do not factor in an exact zip code location for veterans. So the company that can offer you the lowest price may not even be in the top 23 companies shown above. That points out the importance of why you need to quote rates from many companies using your own driver data and vehicle information.

Cost of full coverage in Laredo

Reducing the cost of car insurance is probably important to the majority of vehicle owners, and one of the easiest ways to lower the cost of insurance for veterans is to not insure for full coverage. The illustration below compares insurance costs with and without physical damage coverage. The data assumes no accidents, no driving violations, $500 deductibles, single marital status, and no discounts are factored in.

Averaged for all age groups, comp and collision coverage costs $2,431 per year over and above liability only. That touches on the question if paying for full coverage is a waste of money. There is no exact rule that is best for determining when to drop comp and collision coverage, but there is a general guideline you can use. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.

For example, let’s assume your vehicle’s replacement cost is $10,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $9,000 after you pay the deductible. If premium cost is more than $900 a year for physical damage coverage, then you may want to consider only buying liability coverage.

Car insurance company ratings

Choosing the right insurance company can be a challenge considering how many choices there are in Laredo. The rank data displayed below could help you decide which insurers to look at shopping prices with. These ratings are only comprised of companies that write coverage in many states, so smaller regional companies are not taken into consideration for these rankings.

Best Ten Car Insurance Companies for Veterans in Texas
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
Mercury Insurance 97 96 88 89% A+ 93.4
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
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Data Source: Insure.com Best Car Insurance Companies

You are probably paying too much for car insurance

Texas car insurance rates are impacted by many factors which can substantially decrease or increase the cost of having a policy. Simply getting older, moving to a different location, or getting a driving violation can produce rate changes resulting in some rates now being cheaper than competitors.

In addition, insurance companies change the rates they charge in Texas as needed in order to offset underwriting gains or losses. An unexpected high level of claims may cause higher prices, while a lower level of claims may produce cheaper Laredo car insurance rates.

As an example, the graph below shows which company has the cheapest car insurance in Laredo, TX for a 45-year-old male driver with no violations or accidents, and great credit. If we compare prices based on his current rating profile, Travelers might quote the lowest car insurance rates in Laredo at $1,308 per year. This is $596 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the list of the top five cheapest Laredo, TX auto insurance companies.

Now let’s give the driver from the first rate comparison an accident claim, bad credit, and a few traffic violations. Since each company has their own unique process for setting prices, comparing quotes could now result in a significantly different list of the cheapest Laredo car insurance companies as shown below.

State Farm now has the lowest price in Laredo with Mercury, USAA, Nationwide, and Safe Auto also having competitive pricing. This example shows why Texas drivers need to compare lots of rates to find the best auto insurance quotes for veterans. Insurance prices are made up of many factors and can change substantially, so the best price three years ago may now be an over-priced policy.