The vehicle model you are trying to insure is probably the largest consideration when comparison shopping for low-cost auto insurance for 18 year olds. Vehicles with lower performance, modern passenger safety features, or low incidents of liability claims will cost much less to insure than fast, unsafe models.
The information below outlines coverage prices for a selection of the cheaper vehicles to insure.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $4,293 |
| Ford Escape XLT 4WD | $4,341 |
| Toyota Prius | $4,677 |
| Ford Explorer XLT 4WD | $4,808 |
| Dodge Grand Caravan CV | $4,817 |
| Toyota Tacoma 4WD | $4,808 |
| Volkswagen Jetta SE 2.5 Station Wagon | $4,963 |
| Ford Edge SEL AWD | $5,045 |
| Honda Odyssey EX W/Rear Entertainment | $5,050 |
| Chevrolet Equinox LS 2WD | $5,094 |
| Toyota RAV4 4WD | $5,100 |
| Jeep Grand Cherokee Laredo 2WD | $5,094 |
| Ford F-150 FX4 4WD | $5,144 |
| Find Cheaper Rates Go | |
Prices based on single male driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, and safe-driver. Prices do not factor in vehicle garaging location which can revise coverage prices significantly.
Based upon the table data, you can figure that vehicles like the Honda CR-V, Ford Escape, Toyota Prius, and Ford Explorer will definitely be the less-costly vehicles to insure for teen drivers. The cost of auto insurance will be more expensive just because there is a higher risk for 18 year olds, but in general those models will have the least expensive rates compared to other types of vehicles.
Trying to find reasonably-priced auto insurance is challenging, and figuring out which company offers the cheapest auto insurance rates for 18 year olds will take more quotes for comparison. Every insurance company has their own formula for determining rates, so let’s take a look at the overall cheapest auto insurance companies in Texas.
Keep in mind that Laredo auto insurance rates are determined by lots of factors that will increase or decrease the cost of coverage. This price variation is why Laredo drivers need to spend some time comparing rates to get the best car insurance rates for 18 year olds. Insurance prices are determined by many risk factors and can increase or decrease at any time, so the best option when you last compared rates may now be wasting a lot of money.
Cheap Insurance Rates for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,041 |
| 2 | USAA | $1,095 |
| 3 | Texas Farm Bureau | $1,199 |
| 4 | Germania Mutual | $1,282 |
| 5 | Esurance | $1,365 |
| 6 | California Casualty | $1,424 |
| 7 | Mercury | $1,461 |
| 8 | State Farm | $1,495 |
| 9 | Nationwide | $1,538 |
| 10 | Safe Auto | $1,549 |
| 11 | Allstate | $1,650 |
| 12 | Progressive | $1,664 |
| 13 | Amica | $1,757 |
| 14 | Home State | $2,071 |
| 15 | GEICO | $2,156 |
| 16 | MetLife | $2,161 |
| 17 | Encompass | $2,255 |
| 18 | Unitrin | $2,310 |
| 19 | 21st Century | $2,469 |
| 20 | Titan | $2,672 |
| Find Cheaper Rates Go | ||
Travelers offers some of the cheapest car insurance rates in Laredo at around $1,041 each year. This is $863 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the cut as some of the cheapest Laredo, TX car insurance companies.
In the above example, if you are a customer of Texas Farm Bureau and switched to Travelers, you may realize a yearly savings of about $158. Policyholders with Germania Mutual might save as much as $241 a year, and Esurance customers might cut rates by $324 a year.
To see if you’re overpaying, click here to start your free quote or visit any of the low-priced companies below.
These prices are averages for all types of drivers and the different vehicles they drive and and are not calculated with an exact zip code location for 18 year olds. So the company that can offer the best rates for your situation may not even be in the top 23 companies in the list above. That’s why you need to get rate quotes from many companies using your own driver data and vehicle information.
How to get discounts on Laredo car insurance rates
Insurers that provide coverage for 18 year olds may additionally offer policy discounts that could reduce prices by as much as 35% if you meet eligibility requirements. The best auto insurance companies and a selection of discounts can be read below.
- State Farm has savings for safe vehicle, driver’s education, student away at school, multiple policy, good student, multiple autos, and passive restraint.
- Liberty Mutual policyholders can earn discounts including good student, multi-car, safety features, teen driver discount, exclusive group savings, and new vehicle discount.
- American Family offers discounts for bundled insurance, good student, accident-free, early bird, mySafetyValet, TimeAway discount, and multi-vehicle.
- Progressive has discounts for homeowner, multi-vehicle, online quote discount, continuous coverage, good student, and online signing.
- Farmers Insurance includes discounts for business and professional, youthful driver, pay in full, multi-car, bundle discounts, early shopping, and electronic funds transfer.
- Auto-Owners Insurance may have discounts that include safe vehicle, multi-policy, multiple vehicles, anti-lock brakes, and air bags.
- SAFECO may offer discounts for accident prevention training, drive less, multi-car, teen safety rewards, and safe driver.
The information below shows the difference between premium costs with and without discounts. The data is based on a male driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with paid-in-full, paperless filing, vehicle safety, anti-theft, passive restraint, and good student discounts applied. With discounts applied, the average savings per year on auto insurance for 18 year olds is 28% or $557.
The example below demonstrates how deductible levels can influence yearly insurance costs when searching for cheap insurance for 18 year olds. The premiums assume a married male driver, comprehensive and collision coverage, and no other discounts are factored in.
The chart above illustrates that a 30-year-old driver could cut expenses by $352 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $534 by changing to a $1,000 deductible. Younger drivers, like the 20-year-old, could reduce their rates as much as $1,060 annually by selecting a higher deductible. If you do raise deductibles, it will be important to have additional funds in a savings account to be able to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Comparison of full coverage and liability-only policies
Buying cheaper auto insurance is important to most vehicle owners, and one easy way to find cheaper insurance for 18 year olds is to buy only liability coverage. The illustration below compares premium costs with full coverage and liability only. The data assumes no accidents, no driving violations, $500 deductibles, drivers are not married, and no policy discounts are applied.
If all age groups are averaged, comprehensive and collision coverage on your policy costs $1,793 per year more than buying just liability insurance. Many of you may wonder if buying full coverage is a good investment. There is no exact formula to exclude physical damage coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is more than about 10% of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your vehicle’s book value is $5,500 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $4,500 after paying your policy deductible. If it’s costing in excess of $450 a year for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.
There are a few situations where buying only liability insurance is not a good plan. If you haven’t satisfied your loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not opt for liability only.
If you like to get some professional input when shopping for the best coverage for 18 year olds, the insurance agencies listed below can most likely help you decide which coverages are best. To find a Laredo insurance agency by location nearest to you, click the link at the bottom.
Pronto Insurance
1315 San Dario Ave – Laredo, TX 78040 – (956) 724-2110
Farmers Insurance – Ricardo Rodriguez
5411 McPherson Rd #101 – Laredo, TX 78041 – (956) 726-1906
Luis Estrada – State Farm Insurance Agent
3660 E Del Mar Blvd #9 – Laredo, TX 78041 – (956) 568-8013
Castillo Insurance Agency
1413 E San Carlos St – Laredo, TX 78041 – (956) 727-0129
More insurance agents in Laredo, TX
How to find cheaper insurance for 18 year olds
Here are some of the recommended money-saving suggestions that can help drivers locate low-cost coverage.
- If your vehicles are older, consider dropping full coverage
- Avoid accidents and claims
- The safer your car, the less it costs to insure
- Buying car and homeowners insurance together can save money
- Increase your credit score
- Compare price quotes at least once a year
That last tip is very valuable, as we noted in this article. Insurance rates can change significantly in a year, so don’t be afraid to buy from a different company if a cheaper price is available.
Being loyal to a particular company is commendable, but is isn’t recommended if that devotion results in you overpaying a fortune every year. In just a couple of minutes you could compare prices and find cheaper car insurance for 18 year olds in Laredo.