Astonishing but true according to a recent study, a large majority of car insurance policyholders have stayed with the same insurance company for a minimum of four years, and just under half have never shopped around. Many consumers in Laredo can cut their rates by as much as $1,770 a year, but most tend to underestimate the rate savings if they switched.
If you want to save money, the best way to get budget Ford Five Hundred insurance is to start comparing prices yearly from insurers who provide auto insurance in Laredo. Rates can be compared by following these steps.
- First, get an understanding of how insurance companies determine prices and the measures you can control to prevent expensive coverage. Many factors that are responsible for high rates such as speeding and a lousy credit rating can be improved by paying attention to minor details.
- Second, quote rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from a single company like GEICO or State Farm, while independent agencies can quote prices from multiple insurance companies.
- Third, compare the new rate quotes to the price on your current policy to determine if switching companies saves money. If you find a lower rate and buy the policy, make sure coverage does not lapse between policies.
One piece of advice is to try to use the same amount of coverage on each quote and and to get prices from every company you can. Doing this guarantees a fair rate comparison and a better comparison of the market.
Finding affordable insurance coverage in Laredo is not as difficult as people think. Virtually every person who is overpaying for insurance stands a good chance to find lower prices. But Texas consumers do need to learn how insurance companies calculate their prices and use it to find better rates.
Compare Laredo Ford Five Hundred insurance quotes online
When quoting car insurance, remember that making a lot of price comparisons helps increase your odds of locating a better price.
The companies in the list below provide price quotes in Texas. To buy the best cheap car insurance in TX, we suggest you visit two to three different companies in order to get a fair rate comparison.
Check for these nine discounts
Auto insurance can be pricey, but there could be significant discounts that you may not know about. Certain credits will be shown when you complete an application, but lesser-known reductions have to be inquired about prior to getting the savings.
- Student Driver Training – Have your child complete a driver education course in high school.
- Responsible Driver Discount – Drivers who avoid accidents can save as much as half off their rates than their less cautious counterparts.
- Discount for Home Ownership – Just owning your own home may earn you a small savings because maintaining a house shows financial diligence.
- Organization Discounts – Belonging to qualifying clubs or civic groups could qualify you for a break when getting a Laredo auto insurance quote.
- Federal Government Employee – Employees or retirees of the government may reduce rates when you quote Laredo auto insurance depending on your auto insurance provider.
- Discounts for Seat Belt Usage – Using a seat belt and requiring all passengers to buckle their seat belts can save up to 10 percent (depending on the company) off the medical payments premium.
- Switch and Save Discount – Some companies give discounts for switching policies prior to the expiration date on your current Five Hundred insurance policy. It can save you around 10%.
- Multi-line Discount – Select auto insurance companies reward you with a discount if you purchase life insurance from them.
- Good Grades Discount – Being a good student can save 20 to 25%. Earning this discount can benefit you up until you turn 25.
One thing to note about discounts is that most of the big mark downs will not be given to all coverage premiums. Some only reduce the cost of specific coverages such as medical payments or collision. So even though you would think you would end up receiving a 100% discount, nobody gets a free ride.
Larger auto insurance companies and a partial list of their discounts include:
- State Farm may offer discounts for passive restraint, defensive driving training, Steer Clear safe driver discount, safe vehicle, driver’s education, and good driver.
- Esurance includes discounts for safety device, claim free, anti-lock brakes, Pac-12 alumni, Switch & Save, and good student.
- Progressive offers premium reductions for good student, online quote discount, online signing, continuous coverage, homeowner, and multi-vehicle.
- Liberty Mutual offers discounts for safety features, exclusive group savings, teen driver discount, new graduate, good student, and hybrid vehicle.
- Auto-Owners Insurance has discounts for paperless, good student, paid in full, anti-theft, and air bags.
- GEICO may have discounts that include good student, multi-policy, anti-lock brakes, membership and employees, driver training, five-year accident-free, and air bags.
Before buying, ask all companies you are considering what discounts are available to you. Some of the discounts discussed earlier might not be available to policyholders in every state.
Compare rates but still have a local Laredo insurance agency
Some consumers just want to visit with an insurance agent and that can be a great decision A nice benefit of price shopping on the web is that drivers can save money and get the best rates and still choose a local agent. And supporting local insurance agents is important particularly in Laredo.
To find an agent, once you fill out this simple form, the quote information is submitted to insurance agents in Laredo who will gladly provide quotes for your business. There is no need to search for any insurance agencies because prices are sent to the email address you provide. You’ll get the best rates without requiring a lot of work. If you wish to quote rates from one company in particular, you would need to go to their quote page and complete a quote there.
Not all car insurance agents are the same
If you are searching for a reputable agency, you need to know there are two different types of agencies from which to choose. Agents are categorized either independent agents or exclusive agents depending on their employer.
Independent Auto Insurance Agencies
Independent agents can sell policies from many different companies so they have the ability to put coverage through lots of different companies and find you cheaper rates. If prices rise, your agent can just switch to a different company and the insured can keep the same agent. If you are trying to find cheaper rates, you will want to get several quotes from several independent agencies in order to compare the most rates. A lot of them also have access to companies that do not advertise much which can be an advantage.
Shown below is a list of independent insurance agents in Laredo that may be able to give you rate quotes.
- Cavazos Insurance Agency
2107 San Bernardo Ave – Laredo, TX 78040 – (956) 723-4623 – View Map
- Amco Insurance
505 Lafayette St – Laredo, TX 78041 – (956) 722-5300 – View Map
- Gonzalez H P Insurance Agency
1910 Corpus Christi St – Laredo, TX 78043 – (956) 725-5015 – View Map
Exclusive agencies can only provide one company’s prices such as State Farm, AAA, and Liberty Mutual. These agents are unable to compare other company’s rates so always compare other rates. They receive extensive training on their company’s products which helps them sell insurance even at higher premiums. Drivers often buy insurance from these agents mostly because of the prominence of the brand rather than having the cheapest rates.
The following is a short list of exclusive insurance agents in Laredo willing to provide price quotes.
- Farmers Insurance – Manuel Benavides
4001 McPherson Rd #105 – Laredo, TX 78041 – (956) 725-5901 – View Map
- Farmers Insurance – Edgar Gonzalez
2702 Jaime Zapata Memorial Hwy #1 – Laredo, TX 78043 – (956) 284-0111 – View Map
- Allstate Insurance Agent: Mike Cortez
201 W Del Mar Blvd Ste 16 – Laredo, TX 78041 – (956) 723-6453 – View Map
Finding a good insurance agency should depend on more than just a cheap quote. These are some valid questions you should ask.
- Are aftermarket or OEM parts used to repair vehicles?
- When do they do a full risk review?
- Will they take your side in the event of a claim?
- If your car is in the repair shop, do you have coverage for a rental car?
- Do they get extra compensation for selling add-on coverages?
- Do they have 24-hour customer assistance?
- What will you get paid if your car is a total loss? How is that amount determined?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
After talking to the agent and getting acceptable answers to your questions and a low price estimate, you may have found an insurance agent that meets the criteria to service your policy. Just remember you have the power to terminate your policy whenever you want so never feel that you are obligated to any particular company for the entire policy term.
Specific coverage details
Knowing the specifics of your car insurance policy helps when choosing which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy.
Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for things such as theft, hail damage, a broken windshield, a tree branch falling on your vehicle and damage from flooding. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Medical expense coverage
Med pay and PIP coverage kick in for expenses for doctor visits, rehabilitation expenses and funeral costs. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants and also covers any family member struck as a pedestrian. PIP is not an option in every state and may carry a deductible
Collision coverage pays for damage to your Five Hundred resulting from colliding with another car or object. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims like hitting a parking meter, crashing into a building and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to raise the deductible on your Five Hundred to save money on collision insurance.
This coverage can cover damages or injuries you inflict on people or other property. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 30/60/25 which stand for a limit of $30,000 per injured person, $60,000 for the entire accident, and $25,000 of coverage for damaged property. Alternatively, you may have a combined single limit or CSL that pays claims from the same limit rather than limiting it on a per person basis.
Liability coverage pays for claims like court costs, repair costs for stationary objects, emergency aid and bail bonds. How much liability coverage do you need? That is a decision to put some thought into, but consider buying as high a limit as you can afford. Texas requires minimum liability limits of 30/60/25 but drivers should carry more coverage.
The chart below demonstrates why the minimum limit may not be adequate.
Uninsured or underinsured coverage
This coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants and damage to your Ford Five Hundred.
Because many people carry very low liability coverage limits (30/60/25), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important. Normally these limits do not exceed the liability coverage limits.
Keep this in mind when shopping around
When buying insurance coverage, make sure you don’t reduce coverage to reduce premium. There have been many situations where consumers will sacrifice full coverage only to discover later that it was a big mistake. Your goal should be to get the best coverage possible at an affordable rate while not skimping on critical coverages.
We just showed you a lot of techniques to get a better price on Ford Five Hundred insurance in Laredo. The key thing to remember is the more rate quotes you have, the better your comparison will be. Consumers could even find that the most savings is with an unexpected company.
People switch companies for many reasons like high prices, delays in paying claims, denial of a claim or lack of trust in their agent. It doesn’t matter what your reason, finding a new insurance company is less work than it seems.
More information can be found at these links:
- Rental Reimbursement Coverage (Allstate)
- Who Has the Cheapest Auto Insurance for a Honda Civic in Laredo? (FAQ)
- What Insurance is Cheapest for a Ford Escape in Laredo? (FAQ)
- Who Has the Cheapest Car Insurance for Young Drivers in Laredo? (FAQ)
- Eight Auto Insurance Myths (Insurance Information Institute)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
- Can I Drive Legally without Insurance? (Insurance Information Institute)
- Collision Insurance Coverage (Nationwide)