How Much is Auto Insurance for Low Credit Scores in Laredo?

Things would sure be easy if we could just give you the name of the one company that has the cheapest rates in Texas. That is not the case, however, as there are a lot of unknown aspects like tickets or driving violations, the neighborhood you live in, if you need full coverage or just liability, and what deductibles you want to use, that all impact the cost of your policy. This article delves into the things that influence insurance rates and will hopefully give you a jump start in finding the best auto insurance in Texas.

For bad credit, one of the largest components that are looked at to determine car insurance rates is your zip code in Laredo. Areas with high crime rates or more dense population tend to have more expensive auto insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower coverage costs.

The table below sorts the most costly cities in Texas for low credit scores in which to buy car insurance. Laredo is ranked #5 having an annual price of $1,833 for car insurance, which is around $153 per month.

How much is auto insurance in Laredo, TX?
Rank City Premium Per Year
1 McAllen $1,936
2 Brownsville $1,927
3 Dallas $1,855
4 Houston $1,853
5 Laredo $1,833
6 Pasadena $1,812
7 Grand Prairie $1,811
8 Mesquite $1,807
9 Garland $1,796
10 Irving $1,789
11 Amarillo $1,786
12 Beaumont $1,772
13 San Antonio $1,722
14 Arlington $1,709
15 Lubbock $1,665
16 Fort Worth $1,653
17 Austin $1,627
18 McKinney $1,625
19 Carrollton $1,598
20 El Paso $1,584
21 Waco $1,584
22 Corpus Christi $1,572
23 Plano $1,560
24 Abilene $1,515
25 Killeen $1,488
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Rate quotes are comparative as specific Laredo garaging address can increase or decrease premium rates significantly.

The make and model of vehicle you are trying to insure is one of the biggest factors when shopping around for the most affordable coverage for low credit scores. Vehicles with average performance, good safety features, or a low likelihood of liability claims will cost significantly less to insure than fast, unsafe models. The table below illustrates car insurance rates for some of the cheaper automobiles to buy coverage for.

Cheapest Vehicles to Insure in Laredo, TX
Vehicle Estimated Cost for Full Coverage
Honda CR-V EX 4WD $1,157
Hyundai Elantra GLS Touring Station Wagon $1,297
Ford Edge Limited 2WD $1,311
Toyota RAV4 Limited 4WD $1,338
Jeep Grand Cherokee Laredo 2WD $1,343
Toyota Tacoma Double Cab 4WD $1,364
Ford Escape Limited 2WD $1,422
Toyota Corolla XRS $1,435
GMC Sierra SLT Extended Cab 2WD $1,443
Ford Fusion Sport 4-Dr Sedan $1,435
Toyota Prius $1,443
Ford Focus SES 2-Dr Coupe $1,507
Nissan Rogue SL AWD $1,517
Kia Optima EX $1,534
Toyota Camry Hybrid $1,543
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Above prices assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Price estimates do not factor in the specific area where the vehicle is garaged which can revise premiums greatly.

Looking at the rates, you can conclude that makes and models like the Honda CR-V, Hyundai Elantra, Ford Edge, and Toyota RAV4 are most likely going to be a few of the most affordable vehicles to insure for bad credit.

Determining which companies have the lowest-priced car insurance rates for low credit scores requires a little more sweat than just picking a company at random.

Each company has a unique formula to determine rates, so let’s look at the rankings for the car insurance companies with the overall best prices in Laredo. It’s important to understand that Texas car insurance rates are based on many factors which can significantly increase or decrease the policy price. Simply having a birthday, buying another vehicle, or getting a couple of tickets can cause premium changes that can make some companies much cheaper than others.

Cheap Insurance Rates in Texas

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Texas auto insurance company rankings
Rank Company Cost Per Year
1 Travelers $1,041
2 USAA $1,084
3 Texas Farm Bureau $1,235
4 Germania Mutual $1,282
5 Esurance $1,407
6 California Casualty $1,438
7 Mercury $1,461
8 State Farm $1,510
9 Safe Auto $1,597
10 Nationwide $1,600
11 Allstate $1,650
12 Progressive $1,664
13 Amica $1,775
14 Home State $2,071
15 GEICO $2,135
16 Encompass $2,232
17 MetLife $2,249
18 Unitrin $2,333
19 21st Century $2,396
20 Titan $2,672
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Travelers generally has some of the best car insurance rates in Laredo at around $1,041 per year. This is $863 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the cheaper Laredo, TX auto insurance companies.

As illustrated above, if you buy coverage from Germania Mutual and switched to USAA, you could realize annual savings of upwards of $198. Drivers with Esurance might save as much as $323 a year, and California Casualty policyholders might lower prices by $354 a year.

These premiums are averages for all insureds and vehicles and do not factor in an exact location for low credit scores. So the insurer that fits your needs best may not even be in the top 23 companies shown above. That underscores the importance of why you need to get auto insurance quotes using your own driver and vehicle profiles.

How to get discounts on Laredo insurance rates

Car insurance for bad credit in Laredo, TXInsurance providers that offer quotes for low credit scores could also offer special discounts that may potentially lower prices by 40% or more if you meet specific criteria. A few popular companies and their possible discounts can be found below.

The information below visualizes the comparison of auto insurance costs with and without discounts applied to the policy rates. The rate quotes are based on a female driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, comp and collision included, and $500 deductibles.

The first bar for each age group shows premium with no discounts. The lower bar shows the rates with vehicle safety, anti-theft, accident-free, defensive driving course, marriage, and safe-driver discounts applied. When these discounts are applied, theaverage yearly reduction on car insurance for low credit scores is 28% or $474.

Choosing the best car insurance company can be difficult considering how many different companies sell coverage in Laredo. The company information listed below can help you decide which car insurance providers you want to consider when shopping car insurance rates for low credit scores. The rankings below only include large nationwide companies, so companies that have a smaller presence are not included in this list.

Top Car Insurance Companies for Low Credit Scores in Laredo, TX
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
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
Titan Insurance 86 82 92 86% A+ 86.5
21st Century 86 82 90 84% A 86.4
Liberty Mutual 79 87 95 78% A 85.3
Farmers Insurance 77 80 80 84% A 80.3
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Data Source: Best Car Insurance Companies

Cost of full coverage

Saving on car insurance is probably important to the majority of people, and a good way to lower the cost of insurance for low credit scores is to only pay for liability coverage. The illustration below compares insurance costs with full coverage compared to only the Texas minimum liability coverage. The data assumes no violations or claims, $500 deductibles, drivers are single, and no other discounts are factored in.

If averaged for all ages, physical damage insurance costs an additional $2,393 per year more than carrying just liability coverage. At some point, almost every driver questions if buying full coverage is a waste of money. There is no exact rule of when to exclude comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let’s assume your vehicle’s replacement cost is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $3,000 after paying your deductible. If it’s costing you more than $300 a year for full coverage, then it may be the right time to buy liability only.

How to find more affordable car insurance for low credit scores

The list below summarizes some penny-pinching solutions that can help drivers get low-cost car insurance.

The final tip is highly valuable, as we pointed out in the article above. Car insurance prices in Laredo can be changed at any time, so don’t be unwilling to buy a policy from a new company if a lower price can be found. Being loyal to a particular company is commendable, but we do not recommend it if it’s costing you a fortune every year. If you have a few minutes, now is a great time to shop around and find cheaper insurance for low credit scores.

If you aren’t sure which coverage to buy and prefer to have professional advice when comparing insurance rates for bad credit, the agents below are a good start to provide answers to your questions and help you determine which car insurance company is the best fit.

To find a Laredo insurance agency close to you, click the button at the bottom of the list or click here to compare prices now.

Texas Farm Bureau Insurance – Juancarlo Rendon
507 E Expy 83Pharr, TX 78577(956) 787-8844

All Around Insurance Agency, LLC
3401 N Arkansas AveLaredo, TX 78043(956) 712-1255

Medina Wright Insurance
1419 Clark BlvdLaredo, TX 78040(956) 722-4618

Laredo Commercial Insurance Agency
5711 McPherson Rd #202Laredo, TX 78041(956) 729-0799

View more Laredo, TX insurance agencies