Save Money on Ford Ranger Insurance in Laredo

Paying for high-priced Ford Ranger insurance in Laredo can take a big chunk out of your savings and possibly require you to analyze your spending habits. Price shopping at each renewal is recommended to make ends meet.

We don’t have to point out that fact that car insurance companies don’t want policyholders to compare prices from other companies. Drivers who shop around for better prices will most likely switch insurance companies because there is a good probability of getting low-cost coverage. Surprisingly, a recent survey revealed that people who shopped around saved over $3,500 over four years compared to people who don’t regularly compare prices.

If saving money on auto insurance is the reason you’re here, then knowing how to get rate quotes and compare insurance coverage can save time, money, and frustration.

How to find more affordable Ford Ranger insurance in Laredo

It takes a few minutes, but the best way to get more affordable Ford Ranger insurance in Laredo is to make a habit of comparing prices annually from different companies in Texas.

1. Take a little time to learn about how auto insurance works and the factors you can control to prevent expensive coverage. Many rating factors that are responsible for high rates like careless driving and a less-than-favorable credit score can be amended by paying attention to minor details.
2. Obtain price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can provide rates from one company like GEICO or Farmers Insurance, while independent agents can quote rates from multiple insurance companies. Select a company
3. Compare the new rates to the premium of your current policy to see if switching to a new carrier will save money. If you can save money and buy the policy, make sure coverage does not lapse between policies.

A crucial key to this process is to try to compare the same deductibles and limits on every quote request and and to get price quotes from as many auto insurance providers as possible. This provides an apples-to-apples comparison and the best rate selection.

Having so many insurance providers from which to choose, it is very difficult to choose the most affordable insurer.

Consumers should take time to shop coverage around quite often because insurance rates tend to go up over time. Despite the fact that you may have had the best premium rates on Ford Ranger insurance in Laredo a couple years back you can probably find a better price now. Forget all the misinformation about insurance because you’re about to learn how to quote online to buy cheaper Ford Ranger insurance in Laredo.

Buying the cheapest car insurance in Laredo is easy if you know what you’re doing. If you are insured now, you will be able to find better prices using these techniques. Although Texas drivers can benefit by having an understanding of the way companies determine prices and use it to your advantage.

When quoting insurance, remember that more quotes helps locate better pricing. Not every company does Laredo Ranger insurance quotes online, so it’s important to compare quotes from the smaller companies as well.

The companies shown below offer free rate quotes in Texas. To find cheap auto insurance in Laredo, TX, we suggest you visit as many as you can to get the best price comparison.

Three good reasons to insure your vehicle

Despite the high cost of buying insurance for a Ford Ranger in Laredo, maintaining insurance is required by state law in Texas and it also provides benefits you may not be aware of.

• Just about all states have mandatory liability insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability protection if you want to drive legally. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
• If you have a lien on your Ford, it’s guaranteed your bank will require that you carry insurance to guarantee payment of the loan. If you do not keep the policy in force, the bank may buy a policy for your Ford for a much higher rate and force you to pay for it.
• Insurance protects not only your car but also your financial assets. It will also provide coverage for most medical and hospital costs incurred in an accident. One policy coverage, liability insurance, will also pay for a defense attorney in the event you are sued. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.

The benefits of having insurance more than cancel out the cost, especially if you ever need it. Unknowingly, the average driver is overpaying more than $855 a year so shop around at every policy renewal to save money.

Ford Ranger insurance analysis

The premium information shown below showcases different rate quotes for Ford Ranger models. Learning a little about how rates are determined can help you make informed decisions.

Premium data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Prices do not factor in zip code location which can lower or raise premium rates significantly.

Comparison of policy deductibles

A question often asked by Laredo drivers is which deductibles should you choose. The following insurance rates highlight the rate fluctuation between low and high comp and collision deductibles. The first price estimate table uses a $250 physical damage deductible and the second pricing table uses a $500 deductible.

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Rate quotes do not factor in specific location which can modify premium rates noticeably.

Based on the above data, using a $250 deductible costs an average of $13 more each month or $156 each year than choosing the higher $500 deductible. Since you would pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you average at least 19 months between claim filings, you would come out ahead if you opt for a higher deductible. The numbers below show a better example of how you can perform this determination yourself.

The example below shows how choosing a deductible and can influence Ford Ranger premium costs for different insured age categories. The premium estimates are based on a married female driver, comprehensive and collision coverage, and no discounts are factored in.

Difference between liability only and full coverage rates

The example below compares Ford Ranger auto insurance costs with full physical damage coverage and with liability coverage only. The data assumes no tickets, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are applied.

When to stop paying for full coverage

There isn’t a steadfast formula for dropping full coverage on your policy, but there is a guideline you can consider. If the yearly cost for physical damage 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.

For example, let’s pretend your Ford Ranger replacement value is $5,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $4,000 after the deductible is paid. If you are paying more than $400 a year for full coverage, then you may need to consider dropping full coverage.

There are some cases where buying only liability insurance is not a good idea. If you still owe money on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.

Get cheaper rates on Ford Ranger insurance in Laredo with these discounts

Car insurance is not cheap, but you can get discounts that you may not even be aware of. Certain credits will be shown when you purchase, but once in a while a discount must be inquired about prior to getting the savings.

• Own a Home – Just being a homeowner can earn you a little savings because maintaining a house demonstrates responsibility.
• Discount for Good Grades – Excelling in school may save you up to 25%. This discount can apply up until you turn 25.
• Passenger Safety Discount – Vehicles equipped with air bags or motorized seat belts may qualify for discounts of up to 25% or more.
• E-sign – A few insurance companies will give a small break for completing your application on your computer.
• Military Discounts – Having an actively deployed family member may qualify for rate reductions.
• Driver Education Discount – Make teen driver coverage more affordable by requiring them to take driver’s ed class as it can save substantially.
• Pay Early and Save – If you pay your entire premium ahead of time rather than paying monthly you could save up to 5%.

One last thing about discounts, many deductions do not apply to all coverage premiums. Some only reduce specific coverage prices like comp or med pay. Even though the math looks like adding up those discounts means a free policy, it doesn’t quite work that way.

The chart below illustrates the difference between Ford Ranger insurance rates with and without discounts applied to the rates. The premium estimates are based on a female driver, no tickets, no at-fault accidents, Texas state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, safe-driver, multi-policy, marriage, and homeowner discounts applied.

Companies and the discounts they provide include:

• State Farm may include discounts for Steer Clear safe driver discount, driver’s education, multiple policy, defensive driving training, student away at school, and accident-free.
• American Family has savings for defensive driver, early bird, good driver, good student, TimeAway discount, and air bags.
• AAA policyholders can earn discounts including pay-in-full, good driver, multi-policy, good student, education and occupation, and multi-car.
• GEICO offers discounts for seat belt use, defensive driver, good student, daytime running lights, air bags, five-year accident-free, and anti-lock brakes.
• Mercury Insurance has discounts for annual mileage, accident-free, multi-car, type of vehicle, location of vehicle, low natural disaster claims, and good student.
• Farmers Insurance includes discounts for electronic funds transfer, good student, early shopping, alternative fuel, and switch companies.
• Progressive offers premium reductions for multi-vehicle, online quote discount, multi-policy, online signing, homeowner, and good student.

Before buying, ask all companies you are considering to apply every possible discount. Depending on the company, some discounts might not be offered on policies in Laredo. If you would like to see a list of car insurance companies who offer discounts in Laredo, click here to view.

Ratings for Texas auto insurance companies

Ending up with the right auto insurance company can be challenging considering how many different companies there are to choose from in Laredo. The company ratings listed below can help you decide which auto insurers you want to consider when shopping your coverage around.