It’s an obvious statement that car insurance companies don’t want their customers to go rate shopping. Drivers who shop around for the cheapest rate will most likely switch to a new company because they stand a good chance of finding a lower-priced policy. A recent car insurance study discovered that drivers who compared rates regularly saved $72 a month as compared to drivers who don’t make a habit of comparing rates.
If finding the best rates on insurance in Laredo is the reason you’re reading this, then having a grasp of how to quote and compare insurance coverage can help simplify the task of finding more affordable coverage.
It takes a few minutes, but the best way to get discount auto insurance rates in Laredo is to compare prices annually from providers in Texas.
- Read and learn about car insurance and the things you can control to drop your rates. Many things that result in higher prices such as speeding tickets, accidents and a not-so-good credit score can be improved by making lifestyle changes or driving safer.
- Quote rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only quote rates from a single company like GEICO or Farmers Insurance, while independent agencies can quote prices from multiple companies.
- Compare the price quotes to your current policy and see if you can save money. If you can save money and switch companies, verify that coverage does not lapse between policies.
- Provide written notification to your current company to cancel your existing policy and submit a completed policy application and payment for the new coverage. As soon as you can, safely store the proof of insurance paperwork along with your vehicle registration.
The most important part of this process is that you’ll want to make sure you compare the same amount of coverage on every quote request and and to get quotes from as many carriers as you can. This helps ensure a fair price comparison and a complete price analysis.
We hope to introduce you to how car insurance companies work and some tricks to saving. If you have a current auto insurance policy, you stand a good chance to be able to find the best rates using the techniques covered below. But Texas drivers do need to understand the way companies price online insurance and apply this information to your search.
Discounts for affordable car insurance rates
Insurance can cost an arm and a leg, but you may find discounts that could drop your premiums quite a bit. Many discounts should be triggered when you complete an application, but some discounts are required to be manually applied before you will receive the discount.
- Drive Less and Save – Maintaining low annual mileage can qualify you for better car insurance rates on cars that stay parked.
- Theft Deterrent – Cars that have factory anti-theft systems help deter theft and earn discounts up to 10% off your Laredo auto insurance quote.
- Discounts for Cautious Drivers – Insureds who avoid accidents may receive a discount up to 45% than drivers with accidents.
- Seat Belt Discounts – Forcing all vehicle occupants to fasten their seat belts could cut 10% or more off the personal injury premium cost.
- Laredo Homeowners Discount – Owning a home in Laredo can save a few bucks because it requires a higher level of personal finance.
- Mature Driver Discount – Seniors may receive a slight reduction on a Laredo auto insurance quote.
- Buy New and Save – Buying a new car instead of a used Element can save up to 30% due to better safety requirements for newer models.
You should keep in mind that many deductions do not apply to all coverage premiums. Some only apply to the price of certain insurance coverages like comprehensive or collision. Even though it may seem like all those discounts means the company will pay you, car insurance companies aren’t that generous.
The example below shows the comparison of Honda Element insurance costs with and without discounts applied to the policy premium. The price estimates are based on a male driver, a clean driving record, no claims, Texas state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, homeowner, claim-free, multi-policy, and multi-car discounts applied.
If you would like to view car insurance companies who offer cheap Honda Element insurance quotes in Laredo in Laredo, click here.
When comparison shopping, there are several ways to obtain and compare prices from lots of Texas car insurance companies. The fastest way to compare Honda Element insurance prices consists of obtaining rate quotes online.
When quoting car insurance, remember that getting more free quotes gives you a better chance of getting the best price. Some insurance companies are not set up to provide online Laredo Element insurance quotes, so it’s important to also get quotes on coverage from those companies, too.
The companies in the list below provide price comparisons in Texas. If you want cheap car insurance in Laredo, we recommend you visit several of them to get the best price comparison.
Detailed insurance information
The price information displayed below covers a range of insurance coverage prices for Honda Element models. Understanding more about how car insurance prices are determined is important to be able to make decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Element LX 2WD | $140 | $260 | $358 | $22 | $108 | $888 | $74 |
| Element LX 4WD | $140 | $260 | $358 | $22 | $108 | $888 | $74 |
| Element EX 2WD | $140 | $260 | $358 | $22 | $108 | $888 | $74 |
| Element EX 4WD | $140 | $260 | $358 | $22 | $108 | $888 | $74 |
| Element SC 2WD | $140 | $260 | $358 | $22 | $108 | $888 | $74 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Rate information does not factor in your specific Laredo location which can raise or lower insurance rates noticeably.
How much more does full coverage cost?
The diagram below compares Honda Element auto insurance costs with and without full coverage. The information is based on no claims, a clean driving record, $1,000 deductibles, drivers are not married, and no discounts are factored in.
When to buy liability coverage only
There is no definitive guideline of when to stop paying for full coverage, but there is a general guideline. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.
For example, let’s pretend your Honda Element claim settlement value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $2,000 after you pay the deductible. If you are currently paying more than $200 a year for your policy with full coverage, then you might consider buying liability only.
There are some scenarios where dropping physical damage coverage is not a good plan. If you still have a loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should keep full coverage.
Informed Consumers Can Cut Insurance Costs
Many factors are used in the calculation when quoting car insurance. Most are fairly basic such as traffic violations, but others are not quite as obvious like your vehicle usage or how safe your car is. The best way to find cheaper car insurance is to take a look at the different types of things that come into play when calculating the level of your policy premiums. If you know what determines premiums, this allows you to make educated decisions that could help you find lower rates.
Listed below are some of the things utilized by car insurance companies to help set your rates.
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Tickets and citations cost more than a fine – Having just one citation can increase rates by as much as twenty percent. Attentive drivers get better prices than their less careful counterparts. Drivers who have received serious violations like DUI or reckless driving might be required by their state to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to legally drive a vehicle.
The illustration below illustrates how speeding tickets and at-fault claims increase Honda Element premium costs for different categories of driver ages. The data assumes a married female driver, full physical damage coverage, $1,000 deductibles, and no additional discounts are factored in.
- Excellent credit means lower premiums – Credit score will be a significant factor in calculating your car insurance rates. So if your credit rating is low, you could save money insuring your Honda Element if you improve your credit rating. People that have high credit scores tend to be more responsible and file fewer claims as compared to drivers with lower credit scores.
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Insurance prices are higher for high performance vehicles – The make and model of the vehicle you are insuring makes a substantial difference in determining your rates. The lowest premiums are usually found on lower cost passenger models, but other factors influence the final cost greatly.
The chart below assumes a single male driver age 20, full coverage with $250 deductibles, and no discounts or violations. It compares Honda Element insurance premiums compared to other models of vehicles that have different performance risks.
- Rates and your address – Choosing to live in areas with lower population may provide you with better prices if you are looking for the lowest rates. Fewer drivers means a lower chance of having an accident in addition to fewer liability claims. Drivers in populated Texas areas regularly have congested traffic and longer commutes to work. More time behind the wheel can result in more accidents.
- Do you have enough liability coverage? – Liability coverage is the coverage that protects you when you are found to be at fault for damages caused by your negligence. Your policy’s liability insurance provides legal defense coverage which can cost a lot. It is affordable coverage compared to comp and collision, so drivers should buy more than the minimum limits required by law.
- Multiple policies with one company – Most larger companies apply better rates for people who consolidate policies with them in the form of a multi-policy discount. Discounts can add up to ten or even up to twenty percent in some cases. If you currently are using one company, it’s in your best interest to get quotes from other companies to help guarantee you have the best rates.
- Advanced alarm systems – Driving a car with an alarm system can help lower your premiums. Anti-theft features such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack help track and prevent auto theft.
- Decrease rates by maintaining coverage – Allowing your coverage to lapse is a guaranteed way to bump up your car insurance costs. And not only will insurance be more expensive, failure to provide proof of insurance can result in fines and jail time.
When do I need an agent’s advice?
When choosing adequate coverage for your personal vehicles, there really is no “best” method to buy coverage. Your situation is unique.
For example, these questions can aid in determining if your situation might need professional guidance.
- Are combined or split liability limits better?
- Does my policy cover my teen driver if they drive my company car?
- Is my ex-spouse still covered by my policy?
- Which companies will insure high-risk drivers?
- Can I pay claims out-of-pocket if I buy high deductibles?
- What is an adequate liability insurance limit?
- What discounts do I qualify for?
If you don’t know the answers to these questions but a few of them apply then you might want to talk to a licensed agent. If you don’t have a local agent, simply complete this short form.
Local insurance agents
A small number of people just prefer to sit down with an agent and there is nothing wrong with that. A nice benefit of comparing rate quotes online is that drivers can save money and get the lowest rates and also buy local. Putting coverage with neighborhood agents is important particularly in Laredo.
To make it easy to find an agent, after completing this short form, your insurance data is instantly submitted to insurance agents in Laredo who will gladly provide quotes for your business. It’s much easier because you don’t need to contact an agency due to the fact that quote results will go instantly to you. You can find better rates without the usual hassles of price shopping. If you wish to get a price quote from a specific company, you just need to jump over to their website and complete a quote there.
When searching for a reliable agent, it helps to know the two different types of agencies and how they function. Agents in Laredo are considered either independent (non-exclusive) or exclusive.
Independent Insurance Agents (or Brokers)
Agents of this type are not limited to a single company so they have the ability to put coverage amongst many companies and find you cheaper rates. If your agent finds better pricing, your agent can switch companies and that require little work on your part.
If you need lower rates, you should always include at a minimum one independent agency in order to have the best price comparison. A lot of them also have access to small mutual carriers which can be an advantage.
Listed below are Laredo independent agencies that may be able to give free price quotes.
- Medina Wright Insurance
1419 Clark Blvd – Laredo, TX 78040 – (956) 722-4618 – View Map - Amco Insurance
505 Lafayette St – Laredo, TX 78041 – (956) 722-5300 – View Map - Castillo Insurance Agency
1413 E San Carlos St – Laredo, TX 78041 – (956) 727-0129 – View Map
Exclusive Insurance Agents
Agents that elect to be exclusive work for only one company like Allstate, Farmers Insurance or State Farm. These agents are not able to shop your coverage around so they are skilled at selling on more than just price. Exclusive insurance agents are usually well trained on their products and sales techniques which helps overcome the inability to quote other rates. Some consumers prefer to buy from the same agent for years mostly because of the prominence of the brand and the convenience of having all coverages with one company.
Listed below are exclusive agencies in Laredo that can give you price quote information.
- Beto Gonzalez – State Farm Insurance Agent
502 W Calton Rd #104 – Laredo, TX 78041 – (956) 726-0547 – View Map - Farmers Insurance – Carlos Nunez Jr.
1102 Marshall St #3 – Laredo, TX 78045 – (956) 763-2707 – View Map - Farmers Insurance – Pedro Sanchez
5916 San Bernardo Ave – Laredo, TX 78041 – (956) 722-8445 – View Map
Choosing the best insurance agent requires more thought than just the premium amount. Any good agent in Laredo should know the answers to these questions.
- Is there a 24/7 contact number?
- Will you work with the agent or an assistant?
- Will high miles depreciate repair valuations?
- Is the agency covered by Errors and Omissions coverage?
- Are you getting all the discounts the company offers?
- Does the agent recommend any additional coverage?
- Do they have a Better Business Bureau rating in Laredo?
Insurance does more than just repair your car
Despite the high cost, paying for insurance is required in Texas but it also protects you in many ways.
First, almost all states have minimum liability requirements which means state laws require specific limits of liability coverage if you want to drive legally. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if your Honda Element has a lienholder, almost every bank will require that you buy insurance to ensure they get paid if you total the vehicle. If you default on your policy, the bank will be required to insure your Honda at a much higher rate and make you pay for it.
Third, insurance protects not only your car but also your assets. It will also cover medical transport and hospital expenses for yourself as well as anyone injured by you. Liability insurance will also pay attorney fees if anyone sues you for causing an accident. If your Honda gets damaged, your policy will pay to have it repaired.
The benefits of carrying adequate insurance definitely exceed the cost, particularly when you have a large claim. On average, a vehicle owner in Laredo is overpaying more than $800 each year so shop around once a year at a minimum to ensure rates are inline.
Keep this in mind when shopping around
We’ve covered many ways to reduce Honda Element insurance prices online in Laredo. The key concept to understand is the more times you quote, the higher your chance of finding affordable Laredo auto insurance quotes. You may even find the lowest priced insurance comes from a smaller regional carrier.
When buying insurance coverage, it’s a bad idea to buy lower coverage limits just to save a few bucks. In many cases, an accident victim reduced uninsured motorist or liability limits and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. The proper strategy is to buy a smart amount of coverage at the lowest possible cost and still be able to protect your assets.
Insureds who switch companies do it for a number of reasons such as poor customer service, denial of a claim, questionable increases in premium or delays in paying claims. No matter why you want to switch, finding a great new company can be less work than you think.
Even more information can be read in these articles:
- Teen Driving and Texting (State Farm)
- How Much are Laredo Auto Insurance Quotes for Used Cars? (FAQ)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- Tread Depth and Tire Safety (State Farm)
- Prepare your Teens for Safe Driving (InsureUonline.org)