The average car insurance rate in Laredo is $1,266 yearly, which is cheaper than the Texas average. The cheapest insurance provider for the average driver is Farmers, but MoneyGeek analyzed the cheapest options for different driver profiles and coverages. For customers who prefer a balance of affordability and service, MoneyGeek also ranked the best car insurance providers in Laredo.
Compare the Cheapest Car Insurance Quotes in Laredo, TX
The Cheapest and Best Car Insurance in Laredo
The Cheapest Car Insurance Companies in Laredo
The companies with the cheapest average rates for a full coverage car insurance policy in Laredo are:
- Farmers: $828 per year
- GEICO: $852 per year
Car insurance companies in Laredo all have varied rates. The General, which is the priciest, is almost three times more expensive than the cheapest company. The most affordable companies, on the other hand, are Farmers, GEICO and State Farm. Seek personalized quotes from auto insurance companies throughout Laredo and compare the rates to find the plan that works best for your needs and budget.
For this study, MoneyGeek gathered average car insurance rates in Laredo based on a sample profile of a 40-year-old male driver with a full coverage policy. This includes both liability and comprehensive and collision insurance.
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Average Cost of Car Insurance in Laredo
Average car insurance rates in Laredo amount to around $1,266 annually, which is lower than the state and national averages. Drivers in Laredo can expect to pay roughly 3.8% less for insurance compared to others in Texas, and around 11.1% less than the national average rate.
The Best Car Insurance Companies in Laredo
For drivers in Laredo looking for a company that balances costs and quality service, MoneyGeek ranked the best companies in the city. According to MoneyGeek’s findings, the best choices for most drivers are:
- GEICO: MoneyGeek score 85 out of 100
- State Farm: MoneyGeek score 85 out of 100
USAA received the highest score in Laredo by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
To calculate the final scores out of 100, MoneyGeek analyzed several data points, including J.D. Power user satisfaction ratings, affordability and financial stability.
Personalized Quotes to Get You the Cheapest Car Insurance in Laredo
Car insurance companies in Laredo will build your profile by looking at certain factors, including your age, driving record, ZIP code and more. Your premium will then be based on these factors. For example, a stellar driving record will typically get you the cheapest premium. Being an experienced driver also often means lower insurance costs.
Drivers with spotless records, plenty of experience and excellent credit scores are at an advantage. These characteristics are deemed to be less risky by car insurance companies and lead to lower premiums as a result. Since these factors regularly change, it will benefit you to also get a personalized quote on a regular basis.
Shopping around for car insurance in Laredo could save you $439, which is enough to buy:
Cheapest Car Insurance in Laredo by Coverage Amount
Both in Laredo and elsewhere, how much coverage you include in your policy greatly influences your car insurance prices. For example, a state minimum liability policy costs an average of $604 per year, while a full coverage policy with higher liability limits costs $1,266 on average. That is a difference of $662.
Texas Minimum Liability Requirements
- Bodily Injury and Property Damage$30,000 per person, $60,000 per accident and $25,000 for property damage. A more protective level is 100/300/100.
Insurance premiums are often summarized into three numbers, which stand for injury coverage per person and per vehicle, along with property damage. A 50/100/50 policy in Texas, for example, insures a driver for a greater amount than the state minimum.
You can always opt for comprehensive coverage which offers you greater protection. However, these policies are always more expensive than liability-only plans. For some car insurance companies in Laredo, 50/100/50 full coverage may be twice as expensive as the state minimum coverage.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- Company50 / 100 / 50per year100 / 300 / 100per year
Cheapest Car Insurance in Laredo if You Have Driving Violations
A clean driving record gets you a cheaper premium while having previous offenses will make it more costly. In Laredo, expect to pay more on average if you have a previous speeding ticket. Having an at-fault accident or DUI record will make your premium significantly more expensive.
It’s important to always keep a clean driving record if you want to keep insurance costs low.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
Average Cost of Car Insurance by Postal Code
Your ZIP code also plays a role in how much your premium costs. Some neighborhoods are more likely to have crime and uninsured motorists than others. For car insurance in Laredo, ZIP code differences are not significant. The average difference between the most and least expensive ZIP codes for auto coverage in the city is just $58.
- Zip CodeState Minimumper year
Factors That Impact Insurance Costs in Laredo
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of car thefts also contribute to car insurance rates in Laredo. How Laredo ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for Laredo are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
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