One of the many criteria that aid in calculating the cost of insurance is where you keep your vehicle. Larger areas tend to have higher auto insurance costs, whereas areas that tend to be more rural benefit from having to pay less for coverage.
The information below shows the highest-priced areas in Texas in which to buy car insurance. Laredo is ranked #3 with an annual cost of $1,889 on average, which is about $157 monthly.
|Rank||City||Average Per Year|
|Find Cheaper Rates Go|
Rates are estimated as specific Laredo zip code can revise auto insurance rates greatly.
Now that we understand where Laredo ranks on price, comparing quotes for budget auto insurance is tough enough, and determining which insurers offer the cheapest car insurance rates in Laredo calls for even more perseverance.
Each auto insurer has their own process for setting prices, so let’s take a look at the most competitive car insurance companies in Laredo. Keep in mind that Texas car insurance rates are impacted by many things which can substantially change the policy price. Things like having a birthday, increasing liability limits, or getting caught speeding may prompt premium changes that can make some companies cheaper in comparison to the competition.
Best Cheap Insurance Rates in Laredo
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,211|
|View More Rates Go|
Travelers may have some of the lowest car insurance rates in Laredo at around $1,010 a year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also some of the cheaper Laredo, TX insurance companies.
As depicted above, if you currently have coverage with Germania Mutual and switched to Travelers, you might achieve an annual premium reduction of about $234. Drivers with Esurance may save as much as $369 a year, and California Casualty customers might lower prices by $414 a year.
To discover how much you can save, click here to get quotes or feel free to get quotes from the companies below.
Be aware that those policy rates are averaged across all types of drivers and the different vehicles they drive and do not factor in a specific vehicle garaging location in Laredo. So the insurer that fits your needs best may not even be in the list above. That emphasizes why you need to compare rates from as many companies as possible using your own personalized driver profile and vehicle information.
The make and model of vehicle you are buying coverage for is a large factor in finding low-cost coverage in Laredo. Vehicles with reasonable performance levels, a plethora of safety features, or a positive history of liability claims will cost quite a bit less to insure than higher performance models. The information below illustrates coverage prices for a handful of the cheaper vehicles to buy insurance for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Toyota Tacoma 2WD||$1,346|
|Honda Odyssey EX||$1,356|
|Dodge Grand Caravan SXT||$1,400|
|Honda Accord LX-P 4-Dr Sedan||$1,420|
|Hyundai Elantra GLS Touring Station Wagon||$1,429|
|Toyota Corolla LE||$1,444|
|Ford Edge Sport AWD||$1,453|
|Ford Escape Limited 2WD||$1,454|
|Honda CR-V EX-L 4WD||$1,463|
|Ford Fusion Sport 4-Dr Sedan||$1,471|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$1,481|
|Kia Optima LX||$1,471|
|GMC Sierra 2500HD SLT Extended Cab 4WD||$1,542|
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Table data represents single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Rates do not factor in zip code location which can alter insurance rates significantly.
Looking at the rates, you can expect cars like the Toyota Tacoma, Honda Odyssey, and Dodge Grand Caravan are likely to be the most economical vehicles to insure for drivers in Laredo.
The diagram below shows how choosing a deductible can increase or decrease premium costs when getting quotes for cheap insurance in Laredo. The premiums assume a single male driver, comp and collision included, and no discounts are applied.
A 30-year-old driver could lower their policy premium by $476 a year by increasing from a $100 deductible to a $500 deductible, or save $716 by changing to a $1,000 deductible. Younger drivers, like the 20-year-old, could roll back prices up to $1,414 annually just by choosing higher deductibles. When increasing deductibles, it will now be necessary to have enough savings set aside to offset the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Liability rates compared to full coverage
Paying less for car insurance is important to the majority of drivers, and one good way to reduce the cost of insurance in Laredo is to only pay for liability coverage. The diagram below visualizes the comparison of car insurance costs when comparing full coverage to liability only. The information is based on a clean driving record, no claims, $100 deductibles, marital status is single, and no discounts are factored in.
If we average the cost for ages 20 through 70, physical damage coverage costs an additional $2,922 per year more than just insuring for liability. Many people question if paying for full coverage is a waste of money. There isn’t a steadfast formula to exclude physical damage coverage, but there is a general guideline. If the annual cost of having full coverage is 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
There are some circumstances where removing full coverage is not a good plan. If you still owe money on your vehicle, you are required to maintain full coverage as part of the loan requirements. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.
How accidents and violations affect rates
The common sense way to enjoy the most affordable car insurance premiums in Texas for drivers in Laredo is to be a safe driver and avoid at-fault accidents and violations. The example below illustrates how violations and accident claims can affect yearly insurance costs for different ages of insureds. The prices are based on a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are factored in.
The data in the chart shows the average cost of a car insurance policy in Texas per year with no accidents and a clean driving record is $1,628. Add in one speeding ticket and the average cost hikes up to $1,902, an increase of $275 each year. Now add in two accidents along with the one speeding ticket and the yearly cost of car insurance in Laredo jumps again to an average of $4,502. That’s an increase of $2,875, or $240 per month, just for being a little careless behind the wheel!
How to find more affordable insurance in Laredo
The list below details some of the better thrifty ideas that can help you locate more affordable car insurance.
- Tickets and violations raise rates
- Don’t waste money on full coverage for older vehicles
- Vehicles with good safety ratings are usually cheaper to insure
- Multi-policy discounts save money
- Claim-free policyholders usually earn a discount
- Prevent rate increases by staying accident-free
- Look for cheaper rates once a year by shopping around
The last tip is particularly significant, as was discussed in this piece. Prices adjust often, so don’t be unwilling to buy from a different company if a cheaper rate is available.
Being loyal to a particular company is commendable, but it isn’t a good idea if your bullheadedness ends up costing you major coinage every year. In less than five minutes you could compare prices and find cheaper auto insurance in Laredo in Laredo.
The agencies below can help you decide which auto insurance policy would work best for you, since lots of drivers aren’t clear which coverage they need and would like to have professional advice when comparing insurance rates in Laredo. It’s not always simple to find the best policy on your own, so professional agents can bring satisfaction knowing you have adequate protection in case of an accident or claim. To locate a Laredo insurance agent by location nearest to you, click the button link following the list.
South Texas Insurance
4815 San Bernardo Ave – Laredo, TX 78041 – (956) 729-1010
Beto Gonzalez – State Farm Insurance Agent
502 W Calton Rd #104 – Laredo, TX 78041 – (956) 726-0547
Cubriel Insurance LLC
1808 Commerce Dr – Laredo, TX 78041 – (956) 568-5290
Allstate Insurance Agent: Luis Cardenas
1418 E Saunders St Ste 1 – Laredo, TX 78041 – (956) 726-8944
Delgado Insurance Agency, LC
9902 McPherson Rd #6 – Laredo, TX 78045 – (956) 728-7377