You have most likely seen the captivating commercials from companies like Farmers and The General that make claims of dirt cheap rates, so drivers just need to pick the company with the best ad, right?
It’s just not that simple, as there are a whole bunch of unknown factors such as what deductibles to use for physical damage coverage, how well you maintain your credit, whether you are female or male, and if you want the added protection of full coverage, that all impact the price you pay. We will try to teach you about the best ways to avoid high prices and hopefully give you enough understanding to have a good beginning to your search for cheaper coverage.
Determining which insurers offer the most affordable insurance rates for Lyft drivers may require a bit more work than just comparing rates from one or two companies. Every car insurance company uses a different method for setting rates, so we’ll take a look at the overall cheapest insurance companies in Laredo, TX.
Cheap Insurance Rates for Your Lyft Vehicle
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,052 |
| 2 | USAA | $1,084 |
| 3 | Texas Farm Bureau | $1,235 |
| 4 | Germania Mutual | $1,244 |
| 5 | California Casualty | $1,396 |
| 6 | Esurance | $1,407 |
| 7 | State Farm | $1,450 |
| 8 | Mercury | $1,476 |
| 9 | Safe Auto | $1,597 |
| 10 | Nationwide | $1,600 |
| 11 | Allstate | $1,667 |
| 12 | Progressive | $1,715 |
| 13 | Amica | $1,757 |
| 14 | Home State | $2,071 |
| 15 | GEICO | $2,072 |
| 16 | MetLife | $2,249 |
| 17 | Encompass | $2,301 |
| 18 | Unitrin | $2,310 |
| 19 | 21st Century | $2,396 |
| 20 | Titan | $2,568 |
| Compare Rates Now Go | ||
Travelers offers some of the best car insurance rates in Laredo at around $1,052 a year. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty would also be considered some of the lowest-priced Laredo, TX insurance companies.
In the above example, if you have coverage with Texas Farm Bureau and switched to Travelers, you may see annual savings of upwards of $183. Policyholders with Germania Mutual might save as much as $192 a year, and California Casualty customers might cut rates by $344 a year.
Remember that these prices are averages for all drivers and vehicles in Texas and do not factor in a vehicle location for Lyft drivers. So the insurer that fits your situation best may not even be in the top 23 companies shown above. That point stresses why you need to compare prices as often as possible using your own personalized driver profile and vehicle information.
One of the more important criteria that help determine the price you pay for insurance is where you live in Laredo. More populated areas tend to have more expensive car insurance rates, whereas areas with less crime or weather claims can boast about having cheaper rates.
The information below sorts the most costly cities in Texas for Lyft drivers to purchase car insurance in. Laredo shows up at #6 with the yearly price of $1,833 for the average policyholder, which is around $153 per month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | McAllen | $1,996 |
| 2 | Brownsville | $1,927 |
| 3 | Houston | $1,909 |
| 4 | Dallas | $1,893 |
| 5 | Amarillo | $1,858 |
| 6 | Laredo | $1,833 |
| 7 | Grand Prairie | $1,811 |
| 8 | Garland | $1,796 |
| 9 | Pasadena | $1,794 |
| 10 | Irving | $1,772 |
| 11 | Beaumont | $1,754 |
| 12 | Mesquite | $1,753 |
| 13 | Lubbock | $1,716 |
| 14 | San Antonio | $1,671 |
| 15 | Fort Worth | $1,653 |
| 16 | Arlington | $1,642 |
| 17 | Carrollton | $1,615 |
| 18 | Austin | $1,610 |
| 19 | Plano | $1,608 |
| 20 | Corpus Christi | $1,588 |
| 21 | McKinney | $1,577 |
| 22 | Waco | $1,569 |
| 23 | El Paso | $1,568 |
| 24 | Abilene | $1,561 |
| 25 | Killeen | $1,533 |
| Find Cheaper Rates Go | ||
Rate information is comparative as specific Laredo garaging address can decrease or increase insurance rates substantially.
The type of vehicle you are seeking coverage for is probably the most important factor when shopping around for low-priced insurance for Lyft drivers. Vehicles with lower acceleration and performance, good crash test ratings, or a low likelihood of having liability claims will cost quite a bit less to insure than higher performance models. The table below showcases car insurance premiums for some of the cheaper vehicles to insure in Texas.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Jeep Wrangler Sport 4WD 2-Dr | $1,313 |
| Honda CR-V LX 4WD | $1,386 |
| Toyota Tacoma 2WD | $1,475 |
| Chevrolet Impala LS | $1,484 |
| GMC Sierra SLE Regular Cab 2WD | $1,503 |
| Hyundai Elantra SE Touring Station Wagon | $1,511 |
| Ford Edge SE 2WD | $1,521 |
| Ford Escape Limited 4WD | $1,549 |
| Toyota Prius | $1,587 |
| Jeep Grand Cherokee Limited 2WD | $1,612 |
| Toyota Corolla XRS | $1,619 |
| Dodge Ram Crew Cab ST 2WD | $1,638 |
| Toyota RAV4 2WD | $1,645 |
| Ford Fusion S 4-Dr Sedan | $1,652 |
| Chevrolet Equinox LS 2WD | $1,645 |
| Dodge Grand Caravan Crew | $1,678 |
| Chevrolet Malibu LS | $1,691 |
| Hyundai Sonata Limited 4-Dr Sedan | $1,719 |
| Chevrolet Silverado 2500HD LTZ Crew Cab Diesel 4WD | $1,724 |
| Ford F-150 XLT Crew Cab 4WD | $1,729 |
| Get a Custom Quote Go | |
Data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Premium amounts do not factor in specific Laredo, TX garaging location which can impact premiums greatly.
Based upon the table data, cars like the Jeep Wrangler, Honda CR-V, and Toyota Tacoma are the cheaper vehicles to insure for Lyft vehicles.
Insurance rates are higher with tickets and accidents
A great way to find the cheapest insurance premiums in Texas for Lyft vehicles is to pay attention while driving and not get tickets or have accidents. The information below demonstrates how speeding tickets and at-fault collisions impact annual premium costs for different categories of driver ages. The rate quotes are based on a single female driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.
In the chart above, the average cost of a car insurance policy in Texas per year with no accidents or violations is $2,580. Get written up for two speeding tickets and the average cost jumps to $3,466, an increase of $887 each year. Then add in two accidents along with the two speeding tickets and the annual cost of insurance for Lyft drivers jumps again to an average of $6,716. That’s an increase of $4,137, or $345 per month, just for not driving carefully!
Choosing the highest-rated car insurance provider can be difficult considering how many companies sell insurance in Texas. The company information in the next section can help you pick which car insurance providers to look at when trying find the best insurance for Lyft drivers.
These rankings are for the largest auto insurers in America, so companies that only write business in Texas or surrounding areas are not included in these rankings. To compare prices from these and other top-rated companies, just 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 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
You are probably paying too much for car insurance
Texas insurance rates are impacted by many things that control the price of coverage. Simply improving your credit, getting divorced, or getting a reckless driving citation can produce rate changes that can now make some companies more affordable than before.
Not only may things change on your end, but insurance companies amend pricing at least once a year to adjust for heavy claims or excess profits. Larger than normal claims can result in additional premium costs, while lower claims can result in lower-priced Laredo car insurance rates.
To illustrate this example, the data below demonstrates which company has the cheapest car insurance in Laredo, TX for a 30-year-old male driver with no prior claims, no tickets, and a decent credit rating. If we estimate prices based on his current risk profile, Travelers might quote the lowest car insurance rates in Laredo at $1,283 each year. This is $621 less than the average policy premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the list of the top five cheapest Laredo, TX auto insurance companies.
Now let’s give the driver from the first set of rates a couple of claims, less-than-perfect credit, and a traffic citation. Since every insurance provider uses their own method to determining premium rates, comparing rates could result in a different ranking of affordable companies as shown below.
Mercury now has the cheapest auto insurance in Laredo, TX with State Farm, Safe Auto, Nationwide, and USAA completing the list. This example shows why it is critical to spend some time comparing rates when trying to find cheap insurance quotes for Lyft drivers.
Prices are determined by many things and can decrease or increase without notice, so the cheapest company when you last compared rates may now be an over-priced policy.