In a perfect world, we could simply tell you the exact car insurance company that has the most affordable insurance in Texas. Regrettably, it’s not quite that easy, as there are a lot of unknown aspects such as what coverage limits you want, whether you want full coverage, and your date of birth, that all go into determining the rate you pay. This article should teach you a little about these factors and others that can influence the price of auto insurance and should give you a jump start in finding the best auto insurance.
For your employer’s vehicle, one of the big factors that determine the annual cost of car insurance is where you choose to live. Larger areas are more likely to have higher rates, whereas areas with lower crime rates and fewer weather claims get the luxury of paying less.
The next table sorts the highest-priced places in Texas for a company car to buy auto insurance in. Laredo is ranked #6 with an annual rate of $1,851 for the average policy, which is around $154 per month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | McAllen | $2,016 |
| 2 | Brownsville | $1,927 |
| 3 | Houston | $1,891 |
| 4 | Amarillo | $1,858 |
| 5 | Dallas | $1,855 |
| 6 | Laredo | $1,851 |
| 7 | Pasadena | $1,794 |
| 8 | Grand Prairie | $1,793 |
| 9 | Garland | $1,778 |
| 10 | Mesquite | $1,771 |
| 11 | Beaumont | $1,754 |
| 12 | Irving | $1,736 |
| 13 | Lubbock | $1,716 |
| 14 | San Antonio | $1,688 |
| 15 | Austin | $1,676 |
| 16 | Arlington | $1,658 |
| 17 | Fort Worth | $1,653 |
| 18 | Corpus Christi | $1,636 |
| 19 | El Paso | $1,616 |
| 20 | Carrollton | $1,615 |
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Information shown are approximated as specific Laredo zip code can lower or raise premiums considerably.
Deciding which company has the cheapest car insurance rates for a company car requires more work in order to find coverage that fits your budget.
Every car insurance company has a unique approach for setting rates, so let’s rank the car insurance companies with the most affordable rates in Laredo.
Cheap Insurance Rates in Texas
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,021 |
| 2 | USAA | $1,128 |
| 3 | Texas Farm Bureau | $1,247 |
| 4 | Germania Mutual | $1,282 |
| 5 | Esurance | $1,365 |
| 6 | California Casualty | $1,424 |
| 7 | Mercury | $1,461 |
| 8 | State Farm | $1,465 |
| 9 | Nationwide | $1,538 |
| 10 | Safe Auto | $1,613 |
| 11 | Progressive | $1,698 |
| 12 | Allstate | $1,718 |
| 13 | Amica | $1,757 |
| 14 | Home State | $2,134 |
| 15 | GEICO | $2,156 |
| 16 | MetLife | $2,249 |
| 17 | Encompass | $2,301 |
| 18 | Unitrin | $2,310 |
| 19 | 21st Century | $2,494 |
| 20 | Titan | $2,594 |
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Travelers may offer some of the most affordable car insurance rates in Laredo at around $1,021 a year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the most economical Laredo, TX auto insurance companies.
As the rates illustrate above, if you currently have a policy with Texas Farm Bureau and switched to Travelers, you could earn annual savings of in the vicinity of $226. Drivers with Germania Mutual could save as much as $261 a year, and Esurance insureds might cut rates by $344 a year.
Bear in mind that those prices are averages for all types of insureds and vehicles and and are not calculated with an exact location for a company car. So the car insurance company that fits you best may not even be in the top 23 companies in the list above. That’s why you need to get rate quotes using your own individual information.
The example below illustrates how your choice of deductibles can influence insurance premiums when getting quotes for cheap insurance for a company car. The information is based on a single female driver, comp and collision included, and no discounts are applied to the premium.
The chart above illustrates that a 50-year-old driver could lower their policy premium by $362 a year by changing from a $100 deductible up to a $500 deductible, or save $546 by switching to a $1,000 deductible. Even younger insureds, like the Age 20 chart data, could drop their prices up to $920 or even more by using a higher deductible.
If you do raise deductibles, it will be required to have enough spare savings to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Selecting the best car insurance provider is difficult considering how many choices there are in Texas. The ranking information listed below can help you choose which companies to look at purchasing a policy from.
The rankings below include the largest companies in the United States, so companies without a large exposure are not factored into this list. If you’d like to compare prices from many more Texas auto insurance companies, simply click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
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Data Source: Insure.com Best Car Insurance Companies
Accidents and violations increase rates
The ideal way to get the cheapest car insurance prices for your employer’s vehicle is to drive carefully and avoid accidents and traffic violations. The chart below demonstrates how traffic citations and at-fault accidents can drive up insurance rates for different categories of driver ages. The premiums assume a single female driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.
The chart shows that the average cost of a car insurance policy in Laredo per year with no accidents or violations is $2,062. Factor in one speeding ticket and the average cost swells to $2,340, an increase of $279 each year. Next add one accident along with the one speeding ticket and the 12-month cost of car insurance for a company car jumps again to an average of $3,112. That’s an increase of $1,050, or $88 per month, just for not paying attention while driving!
The insurance agencies listed below can most likely answer your questions and help you decide which insurance coverage will be best for you, since many people would rather get some professional input when shopping for the best coverage for a company car. It can be hard to find the best coverage yourself, and insurance agents licensed in the state of Texas can bring satisfaction knowing your policy gives you suitable coverage if you ever need to use it.
To find an auto insurance agency close to where you live, click the button link following the list.
- SafeGuard Insurance Agency
104 E Calton Rd Ste 101 – Laredo, TX 78041 – (888) 552-4368 - Insurance and Financial Services At Champions LLC
6019 McPherson Rd Ste 6 – Laredo, TX 78041 – (956) 717-5770 - Allstate Insurance Agent: Luis Cardenas
1418 E Saunders St Ste 1 – Laredo, TX 78041 – (956) 726-8944 - Kevin Romo – State Farm Insurance Agent
7917 McPherson Rd #208 – Laredo, TX 78045 – (956) 753-9337