For older drivers, one of the more important things that help determine the cost of insurance is where you keep your car. Areas with high crime rates or more dense population tend to have higher rates, whereas areas with less congestion can boast about having cheaper rates.
The illustration below ranks the highest-priced places in Texas for drivers over age 60 in which to purchase auto insurance. Laredo is ranked at #3 having an annual price of $1,889 for the average insured, which is around $157 monthly.
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Rates are comparative as the specific geographic location can raise or lower rates noticeably.
Determining which company offers the cheapest insurance rates for drivers over age 60 may require a bit more effort in order to find coverage that fits your budget. Each auto insurer uses different criteria for determining rates, so let’s examine the lowest cost insurance companies in Texas.
It’s important that readers know that Texas insurance rates are calculated based on many things that may substantially change the cost of having a policy. Improving your credit rating, getting married, or getting a DUI may prompt premium changes that can now make some companies cheaper in comparison to the competition.
Find Cheaper Auto Insurance for Age 60+
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,199|
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Travelers generally has some of the lowest car insurance rates in Laredo at around $1,010 annually. This is $894 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the best Laredo, TX insurance companies.
As the example above demonstrates, if you have coverage with Germania Mutual and switched to Travelers, you could realize yearly savings of upwards of $246. Texas drivers with Esurance could save as much as $355 a year, and California Casualty customers might realize rate reductions of up to $372 a year.
To find the cheapest rates for your vehicle, click here to start your free quote or visit any of the companies below.
It’s important to note that these estimates are averaged for all insureds and vehicles and and are not figured with a specific location for drivers over age 60. So the car insurance company that can offer the best rates for your situation may not even be in the top 23 companies in the list above. That’s why you need to compare as many prices as possible using your own specific driver information and vehicle.
The vehicle model requiring insurance is one of the primary factors that determines the availability of affordable insurance for drivers over age 60. Vehicles with average performance, good crash test ratings, or a low likelihood of having liability claims will cost quite a bit less to insure than high performance models.
The table below presents coverage rates for a number of the cheaper automobiles to insure in Texas.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$1,159|
|Honda Accord LX-P 4-Dr Sedan||$1,169|
|Honda CR-V EX-L 2WD||$1,184|
|Ford Explorer XLT 2WD||$1,301|
|Honda Odyssey EX||$1,348|
|Chevrolet Impala LS||$1,355|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,356|
|Toyota RAV4 Sport 2WD||$1,373|
|Chevrolet Equinox LS 2WD||$1,378|
|Chevrolet Malibu LS||$1,373|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,398|
|Ford F-150 SVT Raptor Super Cab 4WD||$1,406|
|Dodge Grand Caravan SXT||$1,398|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$1,423|
|Ford Focus SES 4-Dr Sedan||$1,430|
|Hyundai Elantra GLS 4-Dr Sedan||$1,448|
|Ford Edge Sport AWD||$1,458|
|GMC Sierra SLT Crew Cab 2WD||$1,473|
|Chevrolet Silverado 2500HD LT Crew Cab 4WD||$1,483|
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Price data assumes single female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Rates do not factor in specific garaging location which can impact rates significantly.
Based upon the table data, you can assume that makes and models like the Ford Escape, Honda Accord, Honda CR-V, and Toyota Prius are most likely going to be the most budget-friendly vehicles to insure for older drivers.
Irresponsible driving raises your rates
The common sense way to find the cheapest insurance prices in Texas for older drivers is to pay attention while driving and not get tickets or have accidents. The example below illustrates how speeding tickets and at-fault fender-benders can increase insurance prices for each different age category. The price estimates are based on a single female driver, comp and collision included, $100 deductibles, and no discounts are factored in.
The data above shows the average cost of an auto insurance policy in Texas per year with no violations or accidents is $2,067. Add in two speeding tickets and the average cost jumps to $2,783, an increase of $715 each year. Now include one accident along with the two speeding tickets and the yearly cost of insurance for drivers over age 60 increases to an average of $3,498. That’s an increase of $1,431, or $119 per month, just for not paying attention while driving!
The example below illustrates how your choice of deductibles can change annual premium costs when searching for cheap insurance for drivers over age 60. The data is based on a married female driver, comp and collision included, and no policy discounts are applied.
A 40-year-old driver could pocket $260 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $394 by choosing a $1,000 deductible. Young drivers, such as the 20-year-old chart data, have the ability to save as much as $646 each year just by choosing higher deductibles when buying full coverage. When raising deductibles, it’s a good idea to have additional funds in a savings account to offset the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Get discounts on Laredo auto insurance
Insurance companies that sell policies for drivers over age 60 may also give you special discounts that could potentially reduce rates by 25% or more if you qualify for them. The best insurance companies and some of the discounts can be found below.
- Progressive offers discounts for online signing, good student, homeowner, continuous coverage, online quote discount, multi-vehicle, and multi-policy.
- The Hartford discounts include bundle, driver training, anti-theft, defensive driver, vehicle fuel type, and air bag.
- Mercury Insurance has savings for location of vehicle, good student, ease of repair, multi-policy, and anti-theft.
- GEICO may include discounts for military active duty, emergency military deployment, five-year accident-free, membership and employees, and good student.
- AAA offers premium reductions for multi-car, good driver, education and occupation, pay-in-full, multi-policy, AAA membership discount, and anti-theft.
- State Farm may offer discounts for accident-free, defensive driving training, safe vehicle, anti-theft, Steer Clear safe driver discount, student away at school, and multiple policy.
The illustration below shows the comparison of car insurance costs with and without policy discounts. The information is based on a female driver, no claims, a clean driving record, Texas state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with vehicle safety, accident-free, multiple vehicle, marriage, passive restraint, and anti-theft discounts applied. In this example, the average amount saved each year on insurance for drivers over age 60 is 29% or $757.
How to find economical auto insurance for drivers over age 60
Lowering your rates is not difficult, and here are some of the recommended penny-pinching ideas that can help you quote low-cost coverage.
- Improve your credit
- Do not get into accidents that are your fault
- Bundle home or renters insurance to earn a discount on car insurance
- Choose a safer vehicle and pay lower rates
- Do not waste money insuring older vehicles for full coverage
- Compare rates regularly to ensure the best deal
The last suggestion is remarkably important, as was discussed in the prior information. Rates go up and down frequently, so don’t be hesitant to change insurance companies if a cheaper price is available.
Loyalty to a specific company is fine, but we do not recommend it if that devotion results in you overpaying thousands of dollars over the life of your policy. It only take a few minutes to compare prices and find cheaper car insurance for drivers over age 60 in Laredo.
The professional agents shown below can help you make a decision which coverage fits your budget, as some people prefer to have some advice when shopping for the best coverage for drivers over age 60. It can be hard to find the cheapest car insurance policy, and getting advice from a licensed Texas insurance agent can bring satisfaction knowing you have adequate coverage when you need it most. To locate an agency close to you, click the button following the list.
- Laredo Commercial Insurance Agency
5711 McPherson Rd #202 – Laredo, TX 78041 – (956) 729-0799
- South Texas Insurance
4815 San Bernardo Ave – Laredo, TX 78041 – (956) 729-1010
- Farmers Insurance – Robert Rogers
6410 McPherson Rd Suite 2 – Laredo, TX 78041 – (956) 724-1038
- Kevin Romo – State Farm Insurance Agent
7917 McPherson Rd #208 – Laredo, TX 78045 – (956) 753-9337