Cheapest and Best Car Insurance Companies in Laredo, TX


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ByMark Fitzpatrick
Edited byMargarita Barresi
ByMark Fitzpatrick
Edited byMargarita Barresi

Updated: May 20, 2024

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The cheapest auto insurer depends on your coverage needs and driving record. The most affordable minimum and full coverage provider in Laredo is State Farm. It's also the cheapest for military members and for those with at-fault accidents or speeding tickets on record. Meanwhile, Nationwide is the cheapest for teens and Mercury for drivers with DUIs. Texas Farm Bureau is the best auto insurer overall, while Chubb offers the best service.

MoneyGeek Logo IconCheapest + BestCar InsuranceLaredo
2024

Cheapest and Best Car Insurance in Laredo, TX

Why Trust MoneyGeek? MoneyGeek collected information from the Texas Department of Insurance and Quadrant Information Services.

328,384Quotes Analyzed
 
14Companies Compared

Cheapest Minimum Liability Car Insurance in Laredo

The following companies provide the lowest minimum coverage auto insurance rates in Laredo:

  • State Farm: $314 per year
  • Mercury: $385 per year

Similarly, State Farm also offers the cheapest car insurance in Texas at $300 per year as of October 2022. Meanwhile, Dairyland charges the most for a minimum coverage policy, at $1,117 annually.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Minimum Coverage
State FarmAnnual Premium$314Monthly Premium$26
MercuryAnnual Premium$385Monthly Premium$32
AllstateAnnual Premium$388Monthly Premium$32
Texas Farm BureauAnnual Premium$400Monthly Premium$33
AAA TexasAnnual Premium$413Monthly Premium$34
GEICOAnnual Premium$495Monthly Premium$41
ChubbAnnual Premium$611Monthly Premium$51
ProgressiveAnnual Premium$623Monthly Premium$52

According to Texas state law, a minimum coverage policy must cover property damage and bodily injury with the following limits:

  • $30,000 bodily injury liability per person
  • $60,000 bodily injury liability per accident
  • $25,000 property damage liability per accident

To better explain, insurance companies will only pay $30,000 for bodily injury liability per person involved in an accident, up to $60,000 per incident, regardless of how many are injured. Additionally, they will pay up to $25,000 in property damage for each accident.

Cheapest Full Coverage Car Insurance in Laredo

The following auto insurance providers offer full coverage policies at the lowest prices:

  • State Farm: $753 per year
  • Mercury: $895 per year

Dairyland charges the highest premium for a full coverage policy at $2,006 annually. As of October 2022, State Farm also offers the most affordable full coverage auto insurance in Texas.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
State FarmAnnual Premium$753Monthly Premium$63
MercuryAnnual Premium$895Monthly Premium$75
Texas Farm BureauAnnual Premium$931Monthly Premium$78
AllstateAnnual Premium$962Monthly Premium$80
GEICOAnnual Premium$992Monthly Premium$83
AAA TexasAnnual Premium$1,030Monthly Premium$86
NationwideAnnual Premium$1,320Monthly Premium$110
ChubbAnnual Premium$1,455Monthly Premium$121

Full coverage policies include comprehensive and collision coverage.

  • Collision Insurance: Pays for repairing or replacing your car after a collision with an object or other vehicle.
  • Comprehensive Insurance: Pays for damages to your car caused by theft, vandalism and weather-related events.

Full coverage policies may not be cost effective for older, low-value cars.

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Cheapest Car Insurance in Laredo After a Driving Offense

The following auto insurance companies charge the lowest rates to customers with driving violations:

  • Speeding ticket: State Farm ($753 per year)
  • At-fault accident: State Farm ($908 per year)
  • DUI: Mercury ($1,207 per year)

Their most expensive counterparts are Dairyland after a speeding ticket ($2,471), Foremost after an at-fault accident ($3,674) and Chubb after a DUI ($2,849). Even the cheapest rates for policyholders with violations are higher than for those with clean records.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
Incident:
Incident:Speeding
State FarmAnnual Premium$753Monthly Premium$63
Texas Farm BureauAnnual Premium$931Monthly Premium$78
AllstateAnnual Premium$962Monthly Premium$80
GEICOAnnual Premium$1,154Monthly Premium$96
MercuryAnnual Premium$1,290Monthly Premium$108
AAA TexasAnnual Premium$1,312Monthly Premium$109
NationwideAnnual Premium$1,550Monthly Premium$129
ChubbAnnual Premium$1,572Monthly Premium$131

Although not always the case, the more severe the violation, the higher the rate increase. In Laredo, drivers will pay an average of $258 more after a speeding ticket and $607 more after a DUI charge. However, you can still find cheap car insurance with a bad driving record.

Cheapest Car Insurance in Laredo for Teens and Their Families

The following companies offer the most affordable rates for adding a teenager to a family policy in Laredo:

  • State Farm: $1,956 per year for female teens and $2,366 per year for male teens
  • Nationwide: $1,956 per year for female teens and $1,958 per year for male teens

Allstate provides the most expensive teen family insurance policies, with annual premiums averaging $6,813 for female teens and $8,018 for male teens. Male teens are considered riskier to insure and typically pay higher premiums. This discrepancy drops off in early adulthood.

Data filtered by:Results filtered by:
Age:
Age:16
Gender:
Gender:Female
State FarmFamily Plan Annual Premium$1,956Individual Plan Monthly Premium$8,901
NationwideFamily Plan Annual Premium$1,958Individual Plan Monthly Premium$8,262
GEICOFamily Plan Annual Premium$2,386Individual Plan Monthly Premium$7,494
ProgressiveFamily Plan Annual Premium$3,513Individual Plan Monthly Premium$16,424
ForemostFamily Plan Annual Premium$3,658Individual Plan Monthly Premium$15,499
AllstateFamily Plan Annual Premium$6,813Individual Plan Monthly Premium$12,537

Teens buying auto insurance on their own will have to pay much more than if they are added to a family policy. In Laredo, a 16-year-old male will pay $3,267 more for an individual policy. To find cheap car insurance for teenagers, compare quotes and take advantage of student discounts.

Cheapest Car Insurance in Laredo for Military Drivers

MoneyGeek researched the cheapest car insurance for military members and their families. The following are Laredo’s cheapest providers for a full coverage policy:

  • State Farm: $753 per year
  • Mercury: $895 per year

Another great option, and the third cheapest in this category, is USAA. It offers services tailored to policyholders with military backgrounds and is available for $927 per year.

State Farm is still the cheapest for minimum coverage policies at $314 per year, and Mercury is the second at $385 per year.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
State FarmAnnual Premium$753Monthly Premium$63
MercuryAnnual Premium$895Monthly Premium$75
USAAAnnual Premium$927Monthly Premium$77
Texas Farm BureauAnnual Premium$931Monthly Premium$78
AllstateAnnual Premium$962Monthly Premium$80
GEICOAnnual Premium$992Monthly Premium$83
AAA TexasAnnual Premium$1,030Monthly Premium$86
NationwideAnnual Premium$1,320Monthly Premium$110

How to Compare Cheap Laredo Car Insurance Quotes Online

Obtaining quotes online can take 15 minutes or longer per provider, requiring you to divulge a good amount of personal information. With MoneyGeek's online car insurance calculator, you can get quick estimates by only inputting your age, driving history, desired coverage and vehicle type.

Car Insurance Calculator

MoneyGeeks's car insurance calculator will give you a customized estimate of your auto insurance cost. It's free to use, requires no personal information and we won't send you any spam.

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Rates updated:

Jun 13, 2024

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Best Car Insurance in Laredo: Summary

The best auto insurance company in Laredo for you depends on how much you value pricing, coverage, service and other factors. The following companies are our best picks for various categories:

  • Best overall: Texas Farm Bureau Group (MoneyGeek score 76 out of 100)
  • Best for service: Chubb (MoneyGeek score 76 out of 100)
  • Best cheap: State Farm (MoneyGeek score 78 out of 100)

A company’s MoneyGeek score can vary depending on the category. The best auto insurance provider in Texas is also Texas Farm Bureau. USAA, with a score of 85 out of 100, provides good car insurance for those with ties with the military.

Best Overall Car Insurance in Laredo

Our study shows that the following companies are the overall best car insurance providers in Laredo, Texas:

  • Texas Farm Bureau Group: MoneyGeek score 76 out of 100 ($931 per year)
  • State Farm: MoneyGeek score 76 out of 100 ($753 per year)

Texas Farm Bureau Group provides quality service at affordable prices. It receives the fewest customer complaints and offers one of the cheapest premiums. In addition, USAA (score of 80/100) is one of the best auto insurers for policyholders with a military affiliation.

How was this MoneyGeek score calculated?

Texas Farm Bureau

pros

checkmark

Affordable policies and excellent customer satisfaction rating

checkmark

Has rental car travel reimbursement and roadside assistance coverage

cons

close

Low claims management rating

close

No accident forgiveness or gap insurance

COMPANY HIGHLIGHTS

Texas Farm Bureau Group beats its competitors for providing an attractive blend of affordability and customer service. However, the company does not offer a broad range of add-on coverages.

Policyholders with comprehensive and collision insurance are eligible for rental reimbursement coverage, which can help cover the cost of renting a vehicle while theirs is getting fixed after a covered loss. You can set your own restrictions based on what works best for you.

Roadside assistance coverage offers a 24-hour dispatch service. It provides insurance for unanticipated electrical, mechanical or other non-accident-related issues that render your car insecure or immobile. It covers services like fuel delivery, flat tire repair and towing to a service station or a garage.

Read MoneyGeek's Texas Farm Bureau Auto Insurance Review

Best Car Insurance in Laredo for Customer Service

Considering only customer service factors while disregarding price, MoneyGeek identified the following auto insurers as providing the best service in Laredo:

  • Chubb: MoneyGeek score 76 out of 100 ($1,455 per year)
  • Foremost: MoneyGeek score 67 out of 100 ($1,592 per year)

Chubb has the city's best combination of customer satisfaction, claims management and coverage scores. Unfortunately, its customers pay more for quality service, as its premiums are among the highest in Laredo.

How was this MoneyGeek score calculated?

Chubb

pros

checkmark

4.71 out of 5 customer satisfaction score, 4 out of 5 claims management rating

checkmark

Offers diminished value and OEM (original equipment manufacturer) coverages

cons

close

Offers just four add-on coverages

close

No roadside assistance coverage and gap insurance

COMPANY HIGHLIGHTS

Chubb’s coverage offerings are quite thin. The company has the standard rental car reimbursement coverage, which lets you rent a vehicle similar to your own when your car is damaged and in the shop after a covered accident.

It also features Agreed Value coverage, where you and Chubb agree on your car’s value when the policy is written. If your vehicle is stolen or totaled, you receive a check for the agreed-upon amount. Chubb’s OEM coverage will always pay for original equipment manufacturer parts to bring your automobile back to its pre-accident state after a covered loss.

The company’s vintage/classic car insurance covers cars at least 30 years old, limited edition models or part of a larger vehicle collection. To qualify, the cars must be kept in garages and used only for hobbies like parades, auto displays and club events.

Best Cheap Car Insurance in Laredo

We examined the price and service quality of policies with the minimum coverage required under Texas law and found the following are the best cheap car insurance providers:

  • State Farm: MoneyGeek score 78 out of 100 ($314 per year)
  • Texas Farm Bureau Group: MoneyGeek score 77 out of 100 ($400 per year)

Minimum coverage insurance is the cheapest in Laredo, but provides the least liability protection. It also doesn’t cover damages to your car when you’re at fault for the accident.

How was this MoneyGeek score calculated?

State Farm

pros

checkmark

The most inexpensive auto insurer at $314 per year

checkmark

Offers safe driving, defensive driving and daytime running lights discounts

checkmark

Great customer satisfaction rating

cons

close

No paperless and pay-in-full discounts

close

Poor claims management score

COMPANY HIGHLIGHTS

State Farm is the best cheap auto insurer in Laredo due to its affordability and customer service. It also offers many discounts to help policyholders save more.

For instance, you can bundle your auto insurance with other insurance products from State Farm (renters, life, conde, etc.) to get a discount. Insuring at least two vehicles with the company also earns you a premium reduction. Students on your policy with at least a 3.0 GPA, a B average or who are in the top 20% of their class qualify for discounts, too.

State Farm offers safety-related discounts for safe driving, defensive driving and installing airbags, anti-lock or anti-theft systems in your vehicle. You can also save on your monthly premium if your car has factory-installed DRL (daytime running lamps).

Read MoneyGeek's State Farm Auto Insurance Review

Average Cost of Car Insurance in Laredo

In Laredo, the average price of car insurance is $1,249 per year, $16 less than the $1,265 national average and $48 more than the $1,201 average annual cost of auto insurance in Texas as of October 2022. Yet, many other factors besides location affect auto insurance costs.

These rates are for full coverage insurance with $100,000 bodily injury liability per person, $300,000 bodily injury liability per accident and $100,000 in property damage liability per accident.

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.