For high mileage drivers, one of the largest criteria that help determine the amount you pay each year for auto insurance is where you call home in Laredo. Regions with larger populations or more claims tend to have higher auto insurance costs, whereas areas with lower crime rates and fewer weather claims benefit from having to pay less for coverage.
The information below sorts the most costly cities in Texas for high mileage drivers to buy an auto insurance policy in. Laredo is ranked at #5 having an annual price of $1,851 for coverage, which is about $154 per month.
|Rank||City||Average Per Year|
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Prices are approximated as specific Laredo garaging address can decrease or increase premium rates considerably.
Establishing which companies offer the best car insurance rates for high mileage drivers requires a little more effort in order to find the most economical policy.
Every insurance company uses their own calculation for determining rates, so we need to take a look at the lowest cost car insurance companies in Texas.
Cheap Insurance Rates in Texas
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,211|
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Travelers has some of the lowest car insurance rates in Laredo at around $1,010 a year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance would also be considered some of the more affordable Laredo, TX insurance companies.
As illustrated above, if you buy coverage from Germania Mutual and switched to USAA, you could realize an annual savings of about $210. Drivers with Esurance could save as much as $281 a year, and California Casualty policyholders might lower prices by $340 a year.
Bear in mind that those premiums are averaged for all drivers and vehicles in Texas and and are not calculated with a specific zip code for high mileage drivers. So the auto insurance company that can offer you the lowest price may not even be in the top 23 companies shown above. That helps illustrate why you need to compare rates from multiple companies using your own driver data and vehicle information.
The car, truck, or SUV you are buying coverage for is one of the largest considerations when consumers are trying to find cheap coverage for high mileage drivers. Vehicles with high performance engines, a lack of advanced safety features, or an increased likelihood of liability claims will cost substantially more to insure than safer, lower-performance models. The list below illustrates insurance rates for a number of the most cost-effective automobiles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$1,220|
|Honda Accord LX 4-Dr Sedan||$1,336|
|Ford F-150 XLT Regular Cab 2WD||$1,345|
|Ford Escape Limited 2WD||$1,414|
|Toyota RAV4 Limited 4WD||$1,441|
|Chevrolet Silverado LS Extended Cab 4WD||$1,451|
|Honda Odyssey LX||$1,463|
|Ford Explorer Eddie Bauer AWD||$1,468|
|Ford Focus SES 4-Dr Sedan||$1,493|
|Hyundai Elantra SE 4-Dr Sedan||$1,521|
|Chevrolet Equinox LTZ AWD||$1,548|
|Chevrolet Silverado 2500HD LT Crew Cab 4WD||$1,555|
|Chevrolet Impala LS||$1,551|
|GMC Sierra 3500HD SLT Extended Cab 2WD||$1,575|
|Jeep Wrangler Unlimited Rubicon 4WD 4-Dr||$1,590|
|Honda Civic SI 4-Dr Sedan||$1,598|
|Ford F-350 XLT Crew Cab Lariat 2WD||$1,603|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,608|
|Toyota Tacoma Double Cab 4WD||$1,613|
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Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Prices do not factor in zip code location which can alter premiums substantially.
Looking at the rates, we can conclude that cars like the Honda CR-V, Honda Accord, Ford F-150, Ford Escape, and Toyota RAV4 should be the most affordable vehicles to insure for high mileage drivers.
Best car insurance in Laredo
Picking a good quality auto insurance provider is hard considering how many companies sell insurance in Texas. The company ratings below can help you choose which car insurance providers you want to consider putting your business with. The rankings below only include companies with a nationwide focus, so smaller companies will not be included in the list.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
The chart below highlights how deductible selection can change yearly insurance costs when trying to find cheap insurance for high mileage drivers. The data assumes a single male driver, comp and collision included, and no discounts are factored in.
A 30-year-old driver could reduce rates by $476 a year by switching from a $100 deductible up to a $500 deductible, or save $716 by selecting a $1,000 deductible. Even younger drivers, like the Age 20 category, could drop their prices $1,414 or more by using higher deductibles when buying full coverage. When choosing a higher deductible, it’s a good idea to have additional funds in a savings account to satisfy the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Cost comparison with and without full coverage
Finding the cheapest car insurance is probably important to the majority of vehicle owners, and an easy way to buy cheap insurance for high mileage drivers is to buy only liability coverage. The diagram below illustrates the difference between car insurance costs with full physical damage coverage compared to only buying liability only. The data assumes a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are not married, and no policy discounts are applied.
If averaged out across all ages, comp and collision coverage costs an additional $1,598 per year more than buying just liability insurance. Many drivers will wonder if it’s worth it to buy full coverage. There is no clear-cut formula to stop paying for physical damage coverage, but there is a general school of thought. If the annual cost of your full coverage insurance is more than 10% of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s assume your vehicle’s replacement cost is $8,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company will settle for is $7,000 after paying your policy deductible. If premium cost is more than $700 a year for comprehensive and collision coverage, then you might consider buying liability only.
The agents listed below can probably answer your questions and help you decide which coverage fits your budget, since lots of people like to have some professional guidance when buying car insurance for high mileage drivers. It can be difficult to do it yourself, and professional agents can bring comfort knowing you have adequate protection in case of an accident or claim. To locate an agency near you, click the button at the bottom of the list.
3515 N Arkansas Ave #107 – Laredo, TX 78043 – (956) 796-1115
Protection Insurance Agency
1020 Washington St – Laredo, TX 78040 – (956) 723-9542
220 W Hillside Rd # 11 – Laredo, TX 78041 – (956) 724-9004
Beto Gonzalez – State Farm Insurance Agent
502 W Calton Rd #104 – Laredo, TX 78041 – (956) 726-0547