You’ve seen the commercials from auto insurance companies like The General, Farmers, and Liberty Mutual that promise the cheapest price. So drivers should just pick the company with the catchiest ad, right?
It’s just not that easy, however, as there are a whole bunch of unknowns like what physical damage coverage deductibles you want, whether you are married or single, the amount of coverage you want, and your age, that all impact the cost of coverage. We are going to cover the types of things that cause high car insurance rates and also should give you a good beginning to your search for cheaper coverage.
Comparing quotes for low-priced insurance is difficult, and determining which companies have the best auto insurance rates for good students may require a bit more work. Each insurance company uses their own calculation to determine rates, so let’s take a look at the most affordable auto insurance companies in Texas.
Find the Cheapest Auto Insurance for Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,052 |
| 2 | USAA | $1,117 |
| 3 | Germania Mutual | $1,244 |
| 4 | Texas Farm Bureau | $1,247 |
| 5 | Esurance | $1,421 |
| 6 | California Casualty | $1,424 |
| 7 | State Farm | $1,450 |
| 8 | Mercury | $1,461 |
| 9 | Safe Auto | $1,549 |
| 10 | Nationwide | $1,600 |
| 11 | Allstate | $1,667 |
| 12 | Progressive | $1,715 |
| 13 | Amica | $1,775 |
| 14 | GEICO | $2,072 |
| 15 | Home State | $2,092 |
| 16 | MetLife | $2,249 |
| 17 | Encompass | $2,301 |
| 18 | Unitrin | $2,310 |
| 19 | 21st Century | $2,494 |
| 20 | Titan | $2,594 |
| Get a Custom Quote Go | ||
Travelers generally has some of the cheapest car insurance rates in Laredo at around $1,052 annually. USAA, Germania Mutual, Texas Farm Bureau, and Esurance are also some of the lowest-priced Laredo, TX car insurance companies.
As depicted above, if you are a customer of Texas Farm Bureau and switched to USAA, you could realize a yearly price reduction of about $130. Customers with Esurance may save as much as $304 a year, and California Casualty policyholders might lower prices by $307 a year.
It’s important to note that these policy prices are averages across all types of insureds and vehicles and and are not figured with an exact zip code location for good students. So the auto insurance company that can offer you the best price may not even be in the top 23 companies in the list above. That illustrates why you need to quote rates from as many companies as possible using your own driver and vehicle profiles.
For student drivers, one of the big factors that are used to help calculate the annual cost of car insurance is where you call home in Laredo. Cities with larger populations or higher claim trends tend to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims receive better rates.
The illustration below rates the most costly cities in Texas for good students to purchase a policy in. Laredo shows up at #3 costing $1,907 for car insurance, which is around $159 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | McAllen | $1,956 |
| 2 | Houston | $1,909 |
| 3 | Laredo | $1,907 |
| 4 | Brownsville | $1,870 |
| 5 | Garland | $1,850 |
| 6 | Dallas | $1,837 |
| 7 | Grand Prairie | $1,793 |
| 8 | Amarillo | $1,786 |
| 9 | Irving | $1,772 |
| 10 | Mesquite | $1,771 |
| 11 | Beaumont | $1,754 |
| 12 | Pasadena | $1,740 |
| 13 | Lubbock | $1,716 |
| 14 | Arlington | $1,709 |
| 15 | San Antonio | $1,671 |
| 16 | Fort Worth | $1,653 |
| 17 | McKinney | $1,625 |
| 18 | Carrollton | $1,615 |
| 19 | Austin | $1,610 |
| 20 | Corpus Christi | $1,588 |
| Find the Best Rates Go | ||
Price information shown is estimated as vehicle location can change prices noticeably.
Tickets and at-fault accidents raise rates
The ideal way to find the best auto insurance rates in Laredo for student drivers is to be a good driver and avoid accidents and traffic citations. The illustration below highlights how traffic violations and at-fault claims drive up insurance premiums for each age group. The prices are based on a married male driver, comp and collision included, $1,000 deductibles, and no other discounts are factored in.
In the example above, the average cost of car insurance per year with no accidents and a clean driving record is $1,358. Get one speeding ticket and the average cost surges to $1,564, an increase of $206 each year. Then add in one accident along with the one speeding ticket and the yearly cost of auto insurance for good students goes up to an average of $2,130. That’s an increase of $772, or $64 per month, just for being a little careless behind the wheel!
The chart below illustrates how your deductible choice can change insurance prices when trying to find cheap insurance for good students. The data is based on a married female driver, full coverage, and no discounts are taken into consideration.
The chart above illustrates that a 40-year-old driver could save $260 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $394 by switching to a $1,000 deductible. Even younger drivers, such as the 20-year-old example, could roll back prices up to $646 each year by choosing a larger deductible amount.
If you do make the decision to raise your deductibles, it will be required to have enough savings set aside to be able to cover the extra out-of-pocket expense that is associated with using high deductibles.
How to find cheaper auto insurance for good students
Here are some of the recommended thrifty suggestions that can help you quote cheaper coverage.
- Avoid getting tickets or violations
- Full coverage is expensive so only insure older vehicles for liability only
- Discounts for being claim-free can be substantial
- Maintain a safe distance and avoid accidents
- Save money by bundling your home and auto policies
- Drive safe vehicles
- Compare prices frequently to find the best deal
That last piece of advice is highly crucial, as we pointed out in this write-up. Prices in Laredo change frequently, so drivers shouldn’t be reluctant to buy from a different company if a cheaper rate is available.
Brand loyalty is great, but it’s not recommended if that devotion results in you overpaying lots of hard earned cash every month. Now is a great time to shop around and find cheaper car insurance for good students.
If you aren’t clear which coverage you need and would like to have the advice of a professional agent when shopping around for cheaper insurance for student drivers, the insurance agencies below can answer your questions and help you decide which auto insurance policy fits you best.
To find an auto insurance agency close to where you live, click the link at the bottom.
- Farmers Insurance – Cynthia Cardenas
6909 Springfield Ave #103 – Laredo, TX 78041 – (956) 724-8200 - Insurance and Financial Services At Champions LLC
6019 McPherson Rd Ste 6 – Laredo, TX 78041 – (956) 717-5770 - Farmers Insurance – Robert Rogers
6410 McPherson Rd Suite 2 – Laredo, TX 78041 – (956) 724-1038