The words “low-priced” and “insurance” really should not be used together, specifically when you are looking for the best price on coverage for high school students. To save some money, let’s start off by going over some of the things that determine car insurance rates, and see how we can help you slash the price of the next policy you buy.
Deciphering which insurers offer the cheapest insurance rates for high school students will take a tad more effort than just comparing rates from one or two companies. Every auto insurer uses their own method for determining rates in each state, so to begin we’ll rank the overall cheapest insurance companies in Laredo, TX.
It’s a good idea to know that Laredo insurance rates are impacted by many factors which can substantially change the price you pay for coverage. Simply having a birthday, having a teen driver, or getting a few speeding tickets can cause premium changes resulting in some companies being cheaper than competitors.
Compare Cheap Insurance Quotes for Students
Travelers normally has some of the best car insurance rates in Laredo at around $1,010 a year. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty also make the cut as some of the lowest-priced Laredo, TX car insurance companies.
As the example above demonstrates, if you have coverage with Germania Mutual and switched to USAA, you may realize a yearly savings of in the vicinity of $172. Policyholders with California Casualty might save as much as $298 a year, and Esurance customers might see rate reductions of $337 a year.
To discover how much you can save, click here to get quotes or click through to the companies below.
It’s important to note that these premiums are averages across all types of drivers and the different vehicles they drive and and are not calculated with a specific zip code for high school students. So the insurer that fits your needs best may not even be in the top 23 companies shown above. That helps illustrate why you need to get rate quotes using your own personalized driver profile and vehicle information.
For teenagers, one of the largest factors that are looked at to help calculate the price you pay for insurance is your zip code. Areas with more people or more claims will most likely have higher rates, whereas areas that tend to be more rural have the gratification of cheaper auto insurance rates.
The next table ranks the most expensive areas in Texas for high school students to purchase a policy in. Laredo makes the list at #2 with an annual cost of $1,907 for the average policy, which is about $159 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | McAllen | $1,936 |
| 2 | Laredo | $1,907 |
| 3 | Amarillo | $1,858 |
| 4 | Houston | $1,853 |
| 5 | Brownsville | $1,851 |
| 6 | Dallas | $1,837 |
| 7 | Mesquite | $1,825 |
| 8 | Pasadena | $1,812 |
| 9 | Grand Prairie | $1,811 |
| 10 | Garland | $1,778 |
| 11 | Beaumont | $1,754 |
| 12 | Irving | $1,719 |
| 13 | Lubbock | $1,716 |
| 14 | San Antonio | $1,688 |
| 15 | Carrollton | $1,664 |
| 16 | Arlington | $1,658 |
| 17 | Austin | $1,627 |
| 18 | McKinney | $1,625 |
| 19 | Plano | $1,624 |
| 20 | Fort Worth | $1,604 |
| 21 | Corpus Christi | $1,572 |
| 22 | Waco | $1,569 |
| 23 | El Paso | $1,568 |
| 24 | Abilene | $1,499 |
| 25 | Killeen | $1,488 |
| Compare Rates Now Go | ||
Information shown are approximated as the specific Laredo residence address can revise rates noticeably.
The vehicle requiring coverage is probably the largest consideration that determines if you can find cheap auto insurance for high school students. Vehicles with limited top-end speed, a plethora of safety features, or a low likelihood of liability claims will cost much less to insure than high performance models.
The data below estimates coverage prices for some of the most cost-effective automobiles to insure in Texas.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $4,170 |
| Honda Accord LX 4-Dr Sedan | $4,180 |
| Jeep Wrangler Sport 4WD 2-Dr | $4,342 |
| Ford Escape Limited 4WD | $4,498 |
| Toyota Prius | $4,545 |
| Ford F-150 XLT Crew Cab 2WD | $4,670 |
| Dodge Grand Caravan CV | $4,677 |
| Honda Odyssey EX W/Rear Entertainment | $4,906 |
| Jeep Grand Cherokee Laredo 2WD | $4,952 |
| Nissan Altima 2.5 4-Dr Sedan | $4,957 |
| Toyota RAV4 Limited 4WD | $4,952 |
| Volkswagen Jetta LE 4-Dr Sedan | $4,960 |
| Toyota Camry LE | $4,952 |
| Chevrolet Equinox LT AWD | $4,962 |
| Toyota Tacoma Double Cab 4WD | $4,952 |
| Ford Explorer Limited 2WD | $4,998 |
| Dodge Ram Quad Cab ST 2WD | $5,060 |
| Honda Civic LX 4-Dr Sedan | $5,188 |
| Ford Focus SEL 4-Dr Sedan | $5,197 |
| Hyundai Elantra GLS 4-Dr Sedan | $5,234 |
| Chevrolet Impala LTZ | $5,243 |
| Ford Edge Sport 2WD | $5,234 |
| Toyota Corolla XRS | $5,280 |
| Compare Rates Now Go | |
Data based on single female driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate information does not factor in vehicle location which can increase or decrease insurance rates noticeably.
Looking at the data, you can figure that cars like the Honda CR-V, Honda Accord, and Jeep Wrangler are going to be the most economical vehicles to insure for teenagers. Car insurance rates will trend higher because there is more liability risk for high school students, but in general those models will tend to have the least expensive rates compared to other types of vehicles.
Choosing a good quality auto insurance provider is difficult considering how many choices you have in Laredo. The company rank data displayed below may help you select which companies to look at when trying find the best insurance for high school students.
These ratings are only made up of companies with a national presence, so companies that may only write in Texas are not included in these rankings. To view rates from these top-rated insurers and more, click this link.
Top 10 Major Auto Insurers in Laredo Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- The General
- 21st Century
- Esurance
Difference between liability only and full coverage rates
Buying cheaper insurance is the goal of the majority of drivers, and a great way to pay less for insurance for high school students is to not buy comprehensive and collision coverage. The diagram below shows the comparison of car insurance rates with liability coverage only compared to full coverage. The premiums assume no tickets, no at-fault accidents, $1,000 deductibles, marital status is single, and no policy discounts are applied.
Averaged out for all age groups, comp and collision coverage costs an additional $1,598 per year more than just buying liability insurance. A very common question is if buying full coverage is a waste of money. There isn’t a steadfast formula to eliminate physical damage coverage, but there is a general school of thought. If the annual cost of having full coverage is 10% or more of the settlement you would receive from your company, then it might be time to buy liability only.
Accidents and violations increase rates
A great way to snag the best insurance rates for teenagers is to drive safely and avoid accidents and traffic citations. The information below demonstrates how citations and at-fault fender-benders impact yearly insurance costs for different insured age categories. The rate quotes are based on a single male driver, full coverage, $100 deductibles, and no discounts are taken into consideration.
In the previous example, the average cost of an auto insurance policy per year with no accidents and a clean driving record is $2,922. Receive one speeding ticket and the average cost swells to $3,293, an increase of $371 each year. Then add in two accidents along with the one speeding ticket and the annual cost of insurance for high school students increases to an average of $6,423. That’s an increase of $3,501, or $292 per month, just for being a little careless behind the wheel!
How to find economical insurance for high school students
Lowering your rates is not difficult, and here are a few money-saving suggestions that can help Laredo drivers find more affordable car insurance.
- Avoid accidents
- If possible, pay for small claims out-of-pocket
- Avoid speeding and other traffic citations and pay less
- Buy your homeowners policy from the same company as your auto insurance
- Older vehicles may not need full coverage
- Drive safe vehicles
- Keep rates low by shopping around frequently
That last tip is especially crucial, as we discussed in the prior article. Auto insurance prices in Laredo vary greatly, so don’t be tentative to buy from a different company if a cheaper price is available.
Many consumers stick with the same company and that’s fine, but it’s not recommended if your bullheadedness ends up costing you a considerable chunk of change every month. In just a few minutes you could compare prices to find cheaper car insurance for high school students.