The vehicle requiring insurance is one of the largest factors when comparison shopping for low-priced coverage for 20 year old guys. Vehicles with lower acceleration and performance, modern passenger safety features, or low incidents of liability claims will cost substantially less to insure than high performance models. The table below illustrates car insurance prices for a selection of the most economical automobiles to insure in Texas.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $3,219 |
| Ford Escape XLT 4WD | $3,267 |
| Hyundai Elantra SE Touring Station Wagon | $3,508 |
| Toyota Prius | $3,556 |
| Ford F-150 XLT Super Cab 4WD | $3,632 |
| Honda Odyssey EX W/Rear Entertainment | $3,777 |
| Volkswagen Jetta LE 4-Dr Sedan | $3,825 |
| Toyota RAV4 Limited 4WD | $3,835 |
| Chevrolet Equinox LT AWD | $3,825 |
| Chevrolet Malibu Hybrid | $3,830 |
| Dodge Grand Caravan SXT | $3,873 |
| Ford Explorer Eddie Bauer AWD | $3,879 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $3,873 |
| Honda Civic LX 4-Dr Sedan | $4,016 |
| Ford Focus SEL 4-Dr Sedan | $4,021 |
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Cost estimates assume single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, and safe-driver. Rates do not factor in specific Laredo, TX garaging location which can impact coverage prices noticeably.
Based upon the rates shown, cars like the Honda CR-V, Ford Escape, Hyundai Elantra, Toyota Prius, and Ford F-150 will definitely be a few of the most economical vehicles to insure for young men. The cost of auto insurance will tend to be higher because of the fact that there is more risk for 20 year old guys, but generally speaking those particular models will most likely have the lowest insurance rates compared to all other vehicles.
One of the more important components that help determine the price you pay for insurance is where you choose to live in Laredo. Areas with increased crime or more people are more likely to pay higher prices, whereas more rural areas get the luxury of paying less.
The table below ranks the most expensive areas in Texas for 20 year old guys to purchase a policy in. Laredo is ranked at #6 having an annual price of $1,833 for the average insured, which is about $153 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | McAllen | $2,016 |
| 2 | Dallas | $1,893 |
| 3 | Houston | $1,891 |
| 4 | Brownsville | $1,851 |
| 5 | Amarillo | $1,840 |
| 6 | Laredo | $1,833 |
| 7 | Mesquite | $1,807 |
| 8 | Garland | $1,796 |
| 9 | Pasadena | $1,794 |
| 10 | Irving | $1,772 |
| 11 | Grand Prairie | $1,757 |
| 12 | Beaumont | $1,754 |
| 13 | Arlington | $1,709 |
| 14 | San Antonio | $1,688 |
| 15 | Lubbock | $1,682 |
| 16 | Austin | $1,676 |
| 17 | El Paso | $1,632 |
| 18 | Corpus Christi | $1,620 |
| 19 | McKinney | $1,609 |
| 20 | Fort Worth | $1,604 |
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Rates are comparative as the specific Laredo residence address can increase or decrease premium rates greatly.
The diagram below illustrates how choosing a deductible can change yearly insurance costs when searching for cheap insurance for 20 year old guys. The data assumes a single male driver, full coverage, and no policy discounts are applied.
A 50-year-old driver could pocket $314 a year by changing from a $100 deductible to a $500 deductible, or save $472 by using a $1,000 deductible. Even younger drivers, such as the Age 20 example, could save up to $1,026 each year by using a higher deductible. When increasing deductibles, it will be important to have additional savings on hand to be able to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Texas auto insurance company ratings
Picking a highly-rated insurer can be challenging considering how many companies are available to choose from in Laredo. The ranking data in the next section may help you pick which coverage providers to look at when trying to find cheaper insurance for 20 year old guys.
The rankings below only include the largest companies in America, so companies that have a smaller presence are not factored into these rankings. To view rates from these and other top-rated companies, click here.
Top 10 Large Auto Insurance Companies in Laredo Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
Cautious Laredo drivers save money
In a perfect world, the best way to obtain affordable auto insurance premiums in Laredo for young men is to drive safe and avoid accidents and traffic citations. The chart below highlights how traffic violations and fender-benders can increase car insurance rates for each age group. The data assumes a married female driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied.
In the previous chart, the average cost of car insurance per year with no accidents and a clean driving record is $1,653. Receive two speeding tickets and the average cost hikes up to $2,339, an increase of $686 each year. Now throw in one accident along with the two speeding tickets and the yearly cost of auto insurance for 20 year old guys goes up to an average of $3,041. That’s an increase of $1,388, or $116 per month, just for not driving responsibly!