What Auto Insurance is Cheapest for Drivers Under 21 in Laredo?

You have most likely watched the captivating ads from auto insurance companies like Allstate and Liberty Mutual that say if you switch you’ll get the cheapest price, so drivers should just pick one randomly, right?

Regrettably, it’s not quite that easy, as there are a lot of unknown aspects like if you are a homeowner or renter, the safety ratings of your vehicle, the number of miles you drive in a year, and where you live in Laredo, that help determine the price you have to pay. In this article, we will cover the best ways to pay less and should give you a good beginning to your search for cheaper coverage.

The car, truck, or SUV that is being insured is a significant factor when looking for the cheapest auto insurance for drivers under 21. Vehicles with reasonable performance levels, good crash test ratings, or low incidents of liability claims will cost less to insure than high performance models.

The table below presents coverage premiums for some of the most affordable vehicles to insure in Texas.

Cheapest Vehicles to Insure in Laredo, TX
Insured Vehicle Estimated Cost for Full Coverage
Honda CR-V LX 2WD $2,444
Hyundai Elantra GLS Touring Station Wagon $2,449
Ford Escape XLS 2WD $2,444
Honda Accord EX-L 4-Dr Sedan $2,635
Toyota Prius $2,671
Chevrolet Impala LS $2,860
Ford Focus S 4-Dr Sedan $2,866
Ford Edge SE AWD $2,860
Volkswagen Jetta S 4-Dr Sedan $2,896
Chevrolet Equinox LS 2WD $2,903
Jeep Grand Cherokee Laredo 2WD $2,896
Toyota RAV4 Sport 2WD $2,903
Nissan Altima 2.5 4-Dr Sedan $2,896
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Cost estimates assume single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, and claim-free. Rates do not factor in the specific area where the vehicle is garaged which can raise or lower price quotes greatly.

Based upon the table data, we can tell that cars like the Honda CR-V, Hyundai Elantra, Ford Escape, and Honda Accord are most likely to be a few of the less-costly vehicles to insure for minors. The price for an auto insurance policy will tend to be more expensive anyway just due to the fact that there is more risk for drivers under 21, but overall those models will probably have the cheapest rates compared to other vehicles.

Finding out which company has the cheapest car insurance rates for drivers under 21 will take a bit more effort in order to find coverage that fits your budget. Every insurance provider has a unique approach to establish rates, so let’s look at the rankings for the lowest cost car insurance companies in Texas.

It’s a good idea to be aware that Laredo, TX car insurance rates are impacted by many factors that will increase or decrease the cost of your policy. Improving your credit rating, buying a home, or getting into an accident may cause policy rate changes that may make certain companies more affordable than others.

Lowest Insurance Price Quotes for Minors

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Cheapest insurance companies in Texas
Rank Company Cost Per Year
1 Travelers $1,010
2 USAA $1,117
3 Texas Farm Bureau $1,199
4 Germania Mutual $1,282
5 Esurance $1,365
6 California Casualty $1,396
7 Mercury $1,476
8 State Farm $1,510
9 Nationwide $1,538
10 Safe Auto $1,549
11 Allstate $1,650
12 Progressive $1,698
13 Amica $1,775
14 GEICO $2,072
15 Home State $2,134
16 MetLife $2,161
17 Encompass $2,301
18 Unitrin $2,333
19 21st Century $2,421
20 Titan $2,568
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Travelers may have some of the most affordable car insurance rates in Laredo at around $1,010 each year. This is $894 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also are some of the most economical Laredo, TX auto insurance companies.

As the rates illustrate above, if you currently have a policy with Germania Mutual and switched to USAA, you could earn an annual savings of approximately $165. Texas drivers with Esurance might save as much as $248 a year, and California Casualty insureds might see rate reductions of $279 a year.

Understand that those policy prices are averaged across all types of insureds and vehicles and and are not figured with an exact zip code location for drivers under 21. So the insurer that is most affordable for your situation may not even be in the top 23 companies in the list above. That affirms the importance of why you need to compare as many prices as possible using your own individual information.

Selecting a good quality car insurance company can be difficult considering how many companies there are to choose from in Texas. The company rank data shown below can help you decide which companies to look at when comparing insurance rates for drivers under 21.

The rankings below are only made up of companies that write coverage in many states, so smaller regional companies will not be included in this list. If you would like to check rates from these and other companies in Texas, click here.

Best Car Insurance Companies for Drivers Under 21 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
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: Insure.com Best Car Insurance Companies

The chart below demonstrates how choosing different deductibles can influence yearly insurance costs when researching cheap insurance for drivers under 21. The information is based on a single male driver, comprehensive and collision coverage, and no discounts are applied.

In the chart above, a 40-year-old driver could pocket $314 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $472 by selecting a $1,000 deductible. Youthful drivers, like the age 20 example, could shave up to $1,026 each year just by using higher deductibles.

When increasing deductibles, it will be required to have additional funds in a savings account to enable you to pay the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.

How to find the cheapest insurance for drivers under 21

The list below summarizes a few thrifty suggestions that can help Laredo drivers find cheap auto insurance.

The last idea is particularly significant, as was stressed in this write-up. Prices charged by companies go up and down frequently, so don’t be tentative to buy from a new company if a cheaper rate is available. Many drivers tend to have loyalty to a certain company, but it’s not a great idea if that loyalty ends up costing hundreds every year. In just a couple of minutes you could shop around and find cheaper car insurance for drivers under 21 in Laredo.