What Insurance is Cheapest for Drivers Over Age 70 in Laredo?

The words “affordable” and “auto insurance” really shouldn’t be used together, specifically when shopping around for the lowest insurance prices for drivers over age 70. Let’s familiarize you with some of the factors that determine insurance rates, and see if we can help you slash the price of the next policy you buy.

The vehicle model on the policy is probably the biggest factor when quoting the most economical insurance for drivers over age 70. Vehicles with higher performance characteristics, poor passenger safety features, or a track record of large liability claims will cost quite a bit more to insure than more modest models.

The table below estimates coverage prices for the most affordable automobiles to insure in Texas.

Cheapest Vehicles to Insure in Laredo, TX
Vehicle Estimated Cost for Full Coverage
Ford Escape XLS 2WD $1,438
Hyundai Elantra GLS Touring Station Wagon $1,444
Honda CR-V EX 2WD $1,438
Honda Accord LX 4-Dr Sedan $1,444
Toyota Prius $1,572
Honda Odyssey LX $1,585
Ford F-150 XLT Regular Cab 4WD $1,608
Ford Explorer XLT 4WD $1,618
Jeep Grand Cherokee Laredo 4WD $1,697
GMC Sierra SLE Crew Cab 2WD $1,704
Nissan Altima 2.5 4-Dr Sedan $1,697
Chevrolet Malibu LS $1,707
Toyota Camry LE $1,697
Chevrolet Equinox LT 2WD $1,704
Toyota RAV4 4WD $1,697
Toyota Tacoma Double Cab 4WD $1,720
Dodge Grand Caravan SXT $1,727
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Premium data assumes single female driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Price estimates do not factor in the specific area where the vehicle is garaged which can increase or decrease coverage prices considerably.

Based upon the table data, we can tell that vehicles like the Ford Escape, Hyundai Elantra, Honda CR-V, Honda Accord, and Toyota Prius will be a few of the cheapest vehicles to insure for older drivers. Car insurance rates will tend to be more expensive because of the fact that there is more liability risk for drivers over age 70, but generally speaking those specific models will tend to have the cheapest auto insurance rates compared to all other vehicles.

Determining which company has the most affordable insurance rates for drivers over age 70 involves a bit more effort in order to find the best price.

Each insurance company uses a slightly different approach for determining rates, so let’s look at the rankings for the insurance companies with the overall best prices in Laredo. It’s a good idea to know that Texas insurance rates are impacted by many factors which can substantially decrease or increase the price you pay. Simply having a birthday, increasing liability limits, or getting into an accident may generate price changes resulting in some companies being more affordable than the competition.

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Texas auto insurance company rankings
Rank Company Cost Per Year
1 Travelers $1,052
2 USAA $1,117
3 Texas Farm Bureau $1,211
4 Germania Mutual $1,294
5 Esurance $1,365
6 California Casualty $1,424
7 State Farm $1,450
8 Mercury $1,521
9 Safe Auto $1,565
10 Nationwide $1,585
11 Allstate $1,650
12 Progressive $1,715
13 Amica $1,775
14 Home State $2,134
15 GEICO $2,156
16 MetLife $2,183
17 Encompass $2,232
18 Unitrin $2,310
19 21st Century $2,396
20 Titan $2,568
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Travelers generally has some of the cheapest car insurance rates in Laredo at around $1,052 a year. This is $852 less than the average policy premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also some of the most economical Laredo, TX insurance companies.

As depicted above, if you currently have a policy with Esurance and switched to USAA, you might realize annual savings of approximately $248. Insureds with California Casualty may save as much as $307 a year, and State Farm insureds might realize rate reductions of up to $333 a year.

Remember that these policy rates are averages for all drivers and vehicles and do not take into consideration a specific vehicle garaging location for drivers over age 70. So the car insurance company that can offer you the best price may not even be in the list above. That illustrates why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.

Careless driving habits raise insurance rates

The ideal way to get low insurance prices in Texas for older drivers is to drive carefully and not receive tickets or have accidents. The information below illustrates how speeding tickets and at-fault accidents impact insurance rates for different age categories. The costs are based on a single male driver, comp and collision included, $100 deductibles, and no discounts are applied.

In the example above, the average cost of auto insurance in Laredo per year with no accidents or violations is $2,922. Receive two speeding tickets and the average cost surges to $3,883, an increase of $961 each year. Now add in one accident along with the two speeding tickets and the 12-month cost of insurance for drivers over age 70 jumps again to an average of $4,866. That’s an increase of $1,944, or $162 per month, just for being a little careless behind the wheel!

Get discounts on Laredo insurance

Discounts on insurance for drivers over age 70Auto insurance companies that provide policies for drivers over age 70 may also provide premium discounts that can reduce rates by as much as 40% or more if you are eligible for them. A few popular companies and their offered discounts are included below.

The chart below shows the difference between insurance rates with and without some available policy discounts. The information is based on a female driver, no claims or violations, Texas state minimum liability limits, full coverage, and $1,000 deductibles.

The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with claim-free, marriage, anti-theft, multiple policy, safe-driver, and homeowner discounts applied. When taking advantage of discounts, theaverage yearly reduction on insurance for drivers over age 70 is 28% or $571.

The benefits of price comparisons

Laredo insurance rates are determined by lots of factors which can substantially decrease or increase the price you pay for coverage. Improving your credit score, buying another vehicle, or getting a ticket for careless driving can cause premium changes that can make some companies more affordable than competitors.

And not only may your rating factors change, but companies change rates multiple times each year to adjust for heavy claims or excess profits. A period of increased losses can result in rate increases, while lower claim levels can result in more affordable Laredo car insurance rates.

The chart below shows which company has the cheapest car insurance in Laredo, TX for a 40-year-old male driver with a good driving record, no prior claims, and great credit. If we compare prices based on his current risk profile, Travelers may offer the cheapest car insurance rates in Laredo at $1,299 each year. This is $605 less than the average policy premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are the rest of the top five cheapest Laredo, TX auto insurance companies.

The chart below compares rates after we give the driver from the above example an accident surcharge, slightly worse credit, and a traffic citation. Since each company has a different formula for setting prices, comparing prices could result in a different ranking of the cheapest Laredo car insurance companies as shown below.

Mercury now has the best car insurance rate in Laredo, TX with USAA, State Farm, Safe Auto, and Nationwide now rounding out the top five. This example demonstrates why it is important to shop around with many companies when trying to get the lowest insurance rates for drivers over age 70.

Insurance rates consist of many risk factors and change substantially, so the best option two years ago may now be priced much higher than other options.