You have probably seen the catchy advertisements from car insurance companies like Allstate and The General claiming enormous savings. So drivers just need to select the one with the best jingle, right?
It's just not that easy, however, as there are many unknown factors like your financial responsibility, the amount of liability insurance you need, if you are married or single, and if you are a homeowner or renter, that all have an effect on the price of a policy. This article goes into detail about these types of topics and will give you a good beginning to your search for cheaper coverage.
The vehicle model that is being insured is one of the largest factors when consumers are trying to find the best insurance after a speeding ticket. Vehicles with high performance, poor safety features, or an increased likelihood of liability claims will cost much more to insure than safer models. The next table shows car insurance premiums for the most cost-effective vehicles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,720|
|Ford F-150 XLT Crew Cab 2WD||$1,926|
|Honda Accord LX 4-Dr Sedan||$1,994|
|Honda CR-V LX 4WD||$2,004|
|Ford Escape XLS 2WD||$1,994|
|Ford Focus S 4-Dr Sedan||$1,996|
|Ford Edge Limited 2WD||$2,004|
|Jeep Wrangler Sport 4WD 2-Dr||$2,056|
|Nissan Rogue S 2WD||$2,180|
|Nissan Altima 3.5 SR 4-Dr Sedan||$2,185|
|GMC Sierra SL Crew Cab 4WD||$2,191|
|GMC Sierra 2500HD SLE Crew Cab 4WD||$2,185|
|Chevrolet Equinox LTZ 2WD||$2,195|
|Honda Odyssey EX W/Rear Entertainment||$2,203|
|Volkswagen Jetta SE 2.5 Station Wagon||$2,225|
|Ford Explorer Eddie Bauer AWD||$2,287|
|Honda Civic LX 4-Dr Sedan||$2,325|
|Dodge Grand Caravan Hero||$2,362|
|Toyota RAV4 Sport 2WD||$2,372|
|Compare Rates Now Go|
Data rating is based on single female driver age 40, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, and multi-policy. Table data does not factor in specific garaging location which can alter insurance rates greatly.
Based on these rates, models like the Hyundai Elantra, Ford F-150, and Honda Accord are a few of the most affordable vehicles to insure after a few driving violations.
After a few driving violations, one of the big considerations that are looked at to determine the price you pay for insurance is the neighborhood you call home in Laredo. Areas with a lot of weather claims or more people will most likely have higher rates, whereas areas with less crime or weather claims tend to receive cheaper rates.
The next table lists the priciest cities in Texas after a speeding ticket to buy auto insurance in. Laredo is listed at #4 with a yearly cost of $1,907 for coverage, which is about $159 monthly.
|Compare Rates Now Go|
Premium costs are estimated as vehicle location can increase or decrease prices noticeably.
Deciding which company quotes the cheapest car insurance rates after a speeding ticket will take a little more sweat in order to find the most economical policy.
Each insurer has their own process for establishing rates, so let's look at the rankings for the car insurance companies that tend to have lower prices in Laredo, TX.
Cheapest Insurance Rates with Licence Points
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,247|
|Get a Custom Quote Go|
Travelers normally has some of the most affordable car insurance rates in Laredo at around $1,021 each year. This is $883 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also some of the lowest-priced Laredo, TX insurance companies.
In the above rates, if you currently buy coverage from USAA and switched to Travelers, you might achieve an annual premium reduction of roughly $107. Texas drivers with Texas Farm Bureau could save as much as $226 a year, and Germania Mutual policyholders might lower prices by $273 a year.
To find out how much you can save, click here to get a free quote or visit any of the low-priced companies below.
Be aware that those rates are averages across all types of insureds and vehicles and are not factoring in a specific location after a speeding ticket. So the insurer that fits you best may not even be in the top 23 companies in the list above. That emphasizes why you need to quote rates from as many companies as possible using your own specific driver information and vehicle.
Bad driving habits will cost you more
The recommended way to obtain good car insurance premiums in Texas after a few driving violations is to be a good driver and avoid at-fault accidents and violations. The chart below highlights how traffic violations and accidents impact insurance costs for each age group. The prices are based on a married female driver, comp and collision included, $250 deductibles, and no discounts are applied.
In the prior example, the average cost of an auto insurance policy in Laredo per year with no accidents or violations is $1,542. Add in two speeding tickets and the average cost surges to $2,191, an increase of $649 each year. Then include two accidents along with the two speeding tickets and the yearly cost of car insurance after a speeding ticket jumps again to an average of $4,584. That's an increase of $3,042, or $253 per month, just for being a less-than-perfect driver!
Types of discounts on Laredo auto insurance rates
Car insurance companies that offer cheap quotes after a speeding ticket could also offer discounts that could lower prices by 35% or more if you meet the requirements. Larger car insurance companies and some of the premium reductions they offer can be found below.
- State Farm offers premium reductions for driver's education, multiple autos, multiple policy, safe vehicle, Steer Clear safe driver discount, and good driver.
- Progressive has savings for online signing, homeowner, good student, multi-vehicle, multi-policy, and continuous coverage.
- Progressive may offer discounts for online quote discount, good student, multi-vehicle, homeowner, continuous coverage, and online signing.
- MetLife policyholders can earn discounts including good driver, good student, claim-free, accident-free, defensive driver, and multi-policy.
- Farm Bureau includes discounts for renewal discount, good student, safe driver, multi-vehicle, 55 and retired, and youthful driver.
- GEICO offers discounts including military active duty, anti-lock brakes, federal employee, emergency military deployment, multi-vehicle, membership and employees, and anti-theft.
- SAFECO discounts include anti-theft, multi-car, safe driver, bundle discounts, and homeowner.
The chart below shows the difference between annual premium costs with and without discounts. The costs are based on a female driver, three violations and no at-fault accidents, Texas state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with continuous coverage, paperless filing, homeowner, multiple vehicle, anti-theft, and passive restraint discounts applied. When these discounts are applied to the policy premium, theaverage amount saved on car insurance after a speeding ticket is 28% or $976.
Here's why you should compare rates often
Laredo car insurance rates are based on many factors that control the price you have to pay. Simply turning a year older, filing a claim, or getting a reckless driving citation may prompt premium changes that can cause some rates to be more affordable than others. Not only may your risk profile change, but companies change prices every year in order to be able to pay unexpected claims. A period of increased losses may result in increased policy costs, while less frequent claims can result in cheaper Laredo car insurance rates.
To help illustrate this point, the graph below shows the cheapest car insurance in Laredo, TX for a 35-year-old male driver with no prior claims, no tickets, and a decent credit rating. Based on his current risk profile, Travelers might quote the lowest car insurance rates in Laredo at $1,309 annually. This is $595 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance round out the rest of the most affordable Laredo, TX auto insurance companies.
Now we will pretend the driver in the first example a claim surcharge, bad credit, and a blemish on his driving record. Since every insurance provider uses their own calculation for establishing rates, getting updated rate quotes may now present a new list of affordable Laredo car insurance companies as shown below.
State Farm now has the best insurance rate in Laredo with USAA, Mercury, Safe Auto, and Nationwide now rounding out the top five. This illustrates why consumers need to perform an extensive rate comparison to get the lowest insurance rates after a speeding ticket. Insurance prices can be determined by many different factors and can change substantially, so the most affordable company when you bought your policy may now be one of the higher cost companies.
How to find cheaper car insurance after a speeding ticket
The list below shows some of the better thrifty suggestions that can help Laredo drivers get more affordable car insurance.
- Having too many claims will increase rates substantially
- You will pay more if you get tickets or have at-fault accidents
- Increase your credit rating
- Staying accident-free helps keep rates low
- Vehicles with good safety ratings have lower liability rates
- Compare rates regularly to ensure the best deal
That final tip is incredibly important, as we hit on in this article. Prices charged by car insurance companies in Laredo can change in a short period of time, so drivers shouldn't hesitate to buy from a different company if you find a cheaper price. Many consumers stick with the same company and that's fine, but it's not a great idea if that loyalty ends up costing money that could be spent on other things. Now is a great time to compare rates to find cheaper insurance after a speeding ticket.
The agents listed below can answer your questions and help you decide which car insurance policy is best, as some people have coverage questions and would like to get some professional advice when shopping around for cheaper insurance after a speeding ticket. It's not always simple to find the best coverage yourself, and insurance agents licensed in the state of Texas can give comfort knowing you have adequate protection in the event of a claim. To find an auto insurance agency in your neighborhood, click the link after the list.
Allstate Insurance Agent: Powell-Watson Insurance Group
6301 Arena Blvd Ste A - Laredo, TX 78041 - (956) 764-4399
Cubriel Insurance LLC
1808 Commerce Dr - Laredo, TX 78041 - (956) 568-5290
Laredo Commercial Insurance Agency
5711 McPherson Rd #202 - Laredo, TX 78041 - (956) 729-0799