One of the many components that are used to help calculate insurance cost is your address in Laredo. Areas with more people or more claims tend to pay more, whereas areas with less congestion benefit from lower coverage costs.
The table below shows the most costly cities in Texas for good drivers to purchase auto insurance in. Laredo is ranked #3 with an annual premium of $1,907 for the average policyholder, which is about $159 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | McAllen | $1,996 |
| 2 | Houston | $1,909 |
| 3 | Laredo | $1,907 |
| 4 | Dallas | $1,893 |
| 5 | Amarillo | $1,858 |
| 6 | Brownsville | $1,851 |
| 7 | Garland | $1,832 |
| 8 | Mesquite | $1,825 |
| 9 | Pasadena | $1,794 |
| 10 | Grand Prairie | $1,793 |
| 11 | Beaumont | $1,754 |
| 12 | Lubbock | $1,733 |
| 13 | San Antonio | $1,722 |
| 14 | Irving | $1,719 |
| 15 | Arlington | $1,658 |
| 16 | Fort Worth | $1,653 |
| 17 | Corpus Christi | $1,636 |
| 18 | El Paso | $1,632 |
| 19 | Austin | $1,610 |
| 20 | McKinney | $1,609 |
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Price information shown is comparative as the specific garaging location can revise coverage rates greatly.
Buying reasonably-priced car insurance is tough enough, and determining which companies offer the lowest-priced insurance rates for good drivers will involve even more perseverance. Every insurance provider has a unique formula to set policy rates, so let’s begin by taking a look at the most budget-friendly insurance companies in Laredo, TX.
Best Insurance Companies for Good Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,052 |
| 2 | USAA | $1,117 |
| 3 | Texas Farm Bureau | $1,247 |
| 4 | Germania Mutual | $1,256 |
| 5 | Esurance | $1,365 |
| 6 | California Casualty | $1,424 |
| 7 | State Farm | $1,465 |
| 8 | Mercury | $1,521 |
| 9 | Safe Auto | $1,565 |
| 10 | Nationwide | $1,585 |
| 11 | Progressive | $1,698 |
| 12 | Amica | $1,705 |
| 13 | Allstate | $1,718 |
| 14 | GEICO | $2,072 |
| 15 | Home State | $2,134 |
| 16 | MetLife | $2,183 |
| 17 | Encompass | $2,232 |
| 18 | Unitrin | $2,333 |
| 19 | 21st Century | $2,469 |
| 20 | Titan | $2,594 |
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Travelers quotes some of the most affordable car insurance rates in Laredo at around $1,052 per year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also some of the cheapest Laredo, TX auto insurance companies.
As shown in the table above, if you currently have a policy with Germania Mutual and switched to Travelers, you may see yearly savings of upwards of $204. Drivers with Esurance might save as much as $313 a year, and California Casualty insureds might see rate reductions of $372 a year.
To discover how much you can save, click here to begin a quote or click several companies below for low rates.
Remember that these policy rates are averaged across all types of insureds and vehicles and do not take into consideration a specific vehicle garaging location for good drivers. So the car insurance company that is most affordable for your situation may not even be in the list above. That affirms the importance of why you need to get quotes using your own driver data and vehicle information.
Difference between liability only and full coverage rates
Finding cheaper insurance is probably important to the majority of drivers, and one great way to buy cheap insurance for good drivers is to not pay for full coverage. The diagram below compares auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The costs are based on no claims, a clean driving record, $500 deductibles, drivers are not married, and no discounts are factored in.
If averaged out across all ages, physical damage insurance costs an additional $1,793 per year more than insuring for liability only. Many of you may wonder if buying full coverage is worth the money. There is no definitive guideline that is best for determining when to drop physical damage insurance, but there is a general convention. If the annual cost of comprehensive and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let’s say your vehicle’s claim settlement value is $8,500 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $7,500 after paying the physical damage deductible. If it’s costing you more than $750 annually for full coverage, then it might be time to consider dropping full coverage.
Driving violations and accidents
In a perfect world, the best way to snag good insurance premiums in Texas for safe drivers is to drive safe and avoid getting tickets or having accidents. The diagram below highlights how traffic violations and fender-benders increase annual premium costs for different age groups. The costs are based on a married male driver, full coverage, $250 deductibles, and no discounts are factored in.
The data charted above shows the average cost of car insurance in Laredo per year with no violations or accidents is $1,708. Factor in one speeding ticket and the average cost surges to $1,961, an increase of $253 each year. Now include two accidents along with the one speeding ticket and the annual cost of insurance for good drivers increases to an average of $4,147. That’s an increase of $2,439, or $203 per month, just for not being more responsible behind the wheel!
How to find budget-friendly insurance for good drivers
It’s not impossible to find cheaper rates, and here are some of the better penny-pinching suggestions that can help drivers buy low-cost car insurance.
- Drive a car with a high safety rating
- Save money by observing traffic laws and speed limits
- Avoid having at-fault accidents
- Save money by staying claim-free
- Save money by insuring your home and auto with the same company
- Save money by only buying liability coverage for older vehicles
- Shop around once a year for cheaper rates
That last tip is incredibly critical, as we emphasized in the prior information. Car insurance rates go up and down frequently, so don’t hesitate to buy a different policy if a cheaper rate is available. Being loyal to a particular company is commendable, but it’s not a great idea if that dedication is costing several hundred dollars every year. Now is a great time to shop around and find cheaper car insurance for good drivers in Laredo.
If you like to have the advice of a professional agent when comparing insurance rates for safe drivers, the insurance agencies below can probably help you determine which auto insurance policy would work best for you. To find a Laredo insurance agency closest to you, click the button following the list or click here to compare rates now.
Allstate Insurance Agent: Marcus Moreno
1705 E Del Mar Blvd Ste 105a – Laredo, TX 78041 – (956) 725-4934
State Farm: Manuel Gomez III
4311 Clark Blvd – Laredo, TX 78043 – (956) 333-0000
Kike Trevino – State Farm Insurance
517 Shiloh Dr #4 – Laredo, TX 78045 – (956) 791-5453
Farmers Insurance – Gabriel Medina
9807 Mines Rd #6 – Laredo, TX 78045 – (956) 645-2510
Cavazos Insurance Agency
2107 San Bernardo Ave – Laredo, TX 78040 – (956) 723-4623