Buying low-priced car insurance is difficult, and figuring out which company offers the lowest-priced insurance rates for state employees calls for even more work.
Every insurance company uses their own calculation for setting prices, so let’s rank the insurance companies with the overall best prices in Laredo, TX. It’s important to know that Laredo, TX insurance rates are impacted by many factors that can increase your annual premium. Simply having a birthday, adding a teenager to your policy, or having an accident can trigger price changes that can cause some rates to be more expensive than others.
Cheap Insurance Rates in Texas
Travelers quotes some of the best car insurance rates in Laredo at around $1,021 a year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance would also make the list of some of the more affordable Laredo, TX insurance companies.
In the rate table above, if you are currently insured with Germania Mutual and switched to USAA, you might realize a yearly savings of around $198. Insureds with Esurance may save as much as $295 a year, and California Casualty insureds might lower prices by $312 a year.
To find cheaper insurance rates for your vehicle, click here to start your free quote or feel free to get quotes from the companies below.
It’s important to note that these estimates are averaged for all drivers and vehicles in Texas and are not factoring in an exact location for state employees. So the company that can offer you the lowest price may not even be in the top 23 companies shown above. That underscores the importance of why you need to get car insurance quotes using your own personal information and vehicle type.
One of the more important components that determine car insurance rates is where your residence is. Areas with high crime rates or more dense population tend to pay slightly more, whereas areas with fewer weather claims and lower vehicle theft rates tend to receive cheaper rates.
The table below shows the priciest cities in Texas for state employees in which to buy car insurance. Laredo is ranked #4 with an annual cost of $1,889 for the average policy, which is about $157 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | McAllen | $1,996 |
| 2 | Brownsville | $1,927 |
| 3 | Houston | $1,891 |
| 4 | Laredo | $1,889 |
| 5 | Dallas | $1,837 |
| 6 | Garland | $1,832 |
| 7 | Grand Prairie | $1,811 |
| 8 | Amarillo | $1,786 |
| 9 | Mesquite | $1,753 |
| 10 | Pasadena | $1,740 |
| 11 | San Antonio | $1,722 |
| 12 | Beaumont | $1,720 |
| 13 | Irving | $1,719 |
| 14 | Arlington | $1,709 |
| 15 | Lubbock | $1,682 |
| 16 | Austin | $1,676 |
| 17 | El Paso | $1,632 |
| 18 | Plano | $1,624 |
| 19 | Fort Worth | $1,604 |
| 20 | Carrollton | $1,598 |
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Premium costs are estimated as the specific geographic location can modify coverage rates substantially.
Cost of full coverage in Laredo
Buying cheaper insurance is probably important to most drivers, and one of the best ways to pay less for insurance for state employees is to buy liability only. The diagram below shows the comparison of yearly insurance costs with full coverage compared to only the Texas minimum liability coverage. The premiums are based on no tickets, no at-fault accidents, $500 deductibles, single status, and no discounts are factored in.
If we average the cost for all age groups, full coverage costs $1,963 per year more than just buying liability insurance. That may make you wonder if buying full coverage is worth the money. There is no set guideline to stop buying comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.
For example, let’s say your vehicle’s claim settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would receive is $8,000 after paying the physical damage deductible. If premiums are more than $800 annually to have full coverage, then you may need to consider dropping full coverage.
There are a few cases where removing full coverage is not recommended. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should keep full coverage.
Discounts on Laredo insurance
Car insurance companies that provide coverage for state employees may have price discounts that can reduce rates by 25% or more if you meet specific eligibility requirements. Popular insurance companies and a selection of discounts can be read below.
- 21st Century policyholders can earn discounts including anti-lock brakes, automatic seat belts, early bird, good student, and teen driver.
- Progressive discounts include online quote discount, good student, continuous coverage, multi-vehicle, and online signing.
- State Farm has savings for good student, student away at school, Steer Clear safe driver discount, defensive driving training, multiple autos, and passive restraint.
- Nationwide offers discounts including Farm Bureau membership, family plan, defensive driving, business or organization, and multi-policy.
- Esurance may have discounts that include good student, Pac-12 alumni, paid-in-full, multi-car, and anti-lock brakes.
- The Hartford offers premium reductions for air bag, bundle, anti-theft, good student, driver training, and defensive driver.
The chart below illustrates the difference between insurance premiums with and without discounts. The prices are based on a male driver, no driving violations, no at-fault accidents, Texas state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with accident-free, defensive driving course, vehicle safety, multiple vehicle, homeowner, and passive restraint discounts applied. When taking advantage of discounts, theaverage amount saved on insurance for state employees is 28% or $445.
Impact of citations and accidents on insurance rates
The easiest method to receive cheap insurance rates in Laredo for state workers is to be a good driver and not get tickets or have accidents. The illustration below illustrates how traffic citations and at-fault claims can influence car insurance rates for different age groups of insureds. The prices are based on a married male driver, full coverage, $250 deductibles, and no additional discounts are factored in.
The data charted above shows the average cost of car insurance per year with no accidents and a clean driving record is $2,274. Factor in two speeding tickets and the average cost hikes up to $3,145, an increase of $870 each year. Next add one accident along with the two speeding tickets and the 12-month cost of insurance for state employees increases to an average of $4,034. That’s an increase of $1,760, or $147 per month, just for being a little careless behind the wheel!
Why you should be shopping around
Laredo insurance rates are determined by lots of factors that control your annual premium. Simply getting older, buying a different home, or getting a ticket for running a stop sign can cause premium changes that can cause some rates to be affordable when they were higher priced. Not only may your risk profile change, but insurance companies change premium rates without warning to adjust for gains or losses. Significantly higher losses may cause rate increases, while less frequent claims may produce more affordable Laredo car insurance rates.
For example, the chart below shows the cheapest car insurance in Laredo, TX for a 45-year-old male driver with no prior accidents, a clean driving record, and solid credit. If we compare prices based on his current risk factors, Travelers quotes the lowest car insurance rates in Laredo at $1,348 per year. This is $556 less than the average policy premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are the remainder of the most affordable Laredo, TX auto insurance companies.
In the next rate comparison, we’ll give the driver from the first example an accident claim, less-than-perfect credit, and a blemish on his driving record. Due to the fact that every insurance company has a proprietary method for filing rates in each state, comparing quotes could result in a different set of cheap Laredo auto insurance companies as shown below.
Mercury now has the lowest car insurance rate in Laredo with USAA, State Farm, Nationwide, and Safe Auto now being in the top five. This example proves why consumers need to shop around when trying to get cheap insurance quotes for state employees.
Rates are made up of many factors and can change without notice, so the best price the last time you checked may now not even be in the top five.