Cheapest and Best Car Insurance in Laredo, TX (August 2024)

In Laredo, Texas Farm Bureau offers the cheapest minimum coverage at $400 annually. For full coverage, Texas Farm Bureau again leads at $931, unlike State Farm, which is affordable for families with teens. The best customer service comes from Chubb, also the overall best, balancing price and service. Your ideal insurer may vary based on personal preferences and coverage needs.

MoneyGeek found that Texas Farm Bureau is the cheapest option in Laredo for minimum coverage car insurance. When looking for the cheapest car insurance, it's clear that comparing rates can lead to significant savings. Here are the two most affordable providers:

• Texas Farm Bureau: $400 per year
• Mercury: $421 per year

Dairyland has the most expensive minimum coverage policy in Laredo, at $1,769 per year. This underscores the importance of shopping around for car insurance, as there is a $1,369 difference in annual rates between the cheapest and most expensive options. Choosing the right insurer can have a substantial impact on your budget.

In Texas cities like Laredo, car insurance minimums are set by state law. Here's what those minimums look like:

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

For an everyday example, if you're at fault in a car accident, your minimum coverage policy pays up to $30,000 for one person's injuries and $60,000 for injuries sustained by multiple people. But if claims exceed those amounts, you have to pay the rest.

MoneyGeek found that Texas Farm Bureau offers the most affordable cheapest full coverage car insurance in Laredo.

• Texas Farm Bureau: $931 per year
• State Farm: $1,127 per year

Dairyland provides the most expensive full coverage policy in Laredo, with an annual premium of $3,736, which underscores why it's crucial to compare prices for full coverage car insurance. Full coverage policies are pricier than minimum coverage due to the additional protection they offer, including coverage for your own vehicle's damages.

In the MoneyGeek sample Laredo policy for robust coverage, the liability limits are elevated from the base level to a substantial $100,000 for bodily injury per individual, $300,000 for bodily injury per mishap and $100,000 for property damage per incident. Professionals commonly refer to this as a 100/300/100 plan considering the coverage breakdown.

Beyond enhanced liability caps, comprehensive coverage policies incorporate additional protective measures like comprehensive and collision insurance.

• Collision Insurance: This component of the plan provides financial coverage for repairs to your automobile in the event it collides with another vehicle or object like a tree or light pole. It also covers rollover accidents and pothole damage.

• Comprehensive Insurance: This insurance variety compensates for damages to your vehicle caused by incidents other than collisions, encompassing theft, vandalism, or damage from natural occurrences like storms or hail and being struck by an animal like a deer.

Opting for full coverage is advisable when insuring a new vehicle to protect your investment adequately. Conversely, for an older model, the additional cost of full coverage—potentially amounting to several hundred dollars — may not justify the benefits. When determining how much car insurance you need consider the balance between the premium costs against the potential risk of insufficient coverage.

MoneyGeek found that Texas Farm Bureau is one of the most affordable options for drivers with a poor driving record seeking full coverage policies in Laredo, regardless of the type of offense. Here are the cheapest providers for each individual offense:

• Speeding Ticket: Texas Farm Bureau ($931 per year)
• At-fault accident: State Farm ($1,352 per year)
• DUI: Progressive ($1,403 per year)

Nationwide and Dairyland tend to have the highest rates for drivers with infractions. These premiums can significantly differ, highlighting how the severity of an offense impacts car insurance rates. For instance, the annual cost for the cheapest coverage after a speeding ticket is $931, while the lowest rate following a DUI is $1,403, demonstrating a $472 increase.

In Laredo and similar urban centers, insurance premiums typically escalate with the severity of a driving infraction due to increased risk exposure for insurers. For instance, drivers in Laredo with a speeding ticket face an average annual rate of $2,978, while those with a DUI could expect to pay around $3,728—a significant leap that exemplifies the financial consequences of serious violations. It’s crucial for drivers with offenses to diligently compare insurance rates, as this could lead to substantial savings despite their checkered driving history.

MoneyGeek found that State Farm is the cheapest option in Laredo for both female and male teen drivers, offering substantial savings on full coverage car insurance. Here are the specifics:

• State Farm: $1,956 per year for female teens and $2,366 per year for male teens
• Nationwide: $1,958 per year for female teens and $2,232 per year for male teens

These rates are for a family plan covering two parents with a teen driver. Among the options, Allstate has the most expensive policy for teen families in Laredo, with an annual premium of $6,813 for female teens and a staggering $8,018 for male teens. The significant price gap of $4857 between the cheapest and most expensive provider for female teens underscores the importance of comparing rates to find the cheapest car insurance for teens.

In Laredo and comparable cities, teen drivers face significantly higher car insurance rates when purchasing individual policies — an average individual premium of $7,449 — compared to the average family premium of $3,803. Teens are less experienced and are considered higher-risk drivers, leading to steeper rates.

MoneyGeek found that Texas Farm Bureau is the cheapest option in Laredo for those seeking the cheapest car insurance for military backgrounds.

• Texas Farm Bureau: $931 per year
• State Farm: $1,127 per year

While Texas Farm Bureau offers the lowest annual premium, it's noteworthy that USAA ranks third at $1,129 per year. Even though USAA's rates are slightly higher than the competitors listed, it is important to highlight that their services are specially tailored to meet the needs of active-duty military members, making them a valuable option for those who qualify.

In Laredo, you can use MoneyGeek's car insurance calculator to get quotes. Simply input critical details such as age, driving history, credit score and desired coverage, and promptly receive a tailored rate estimate, thereby optimizing your time and savings on car insurance.

Finding the best auto insurance for you hinges on personal preferences such as quality of service, cost, coverage options, and various other factors. Using distinct criteria for each category, MoneyGeek's research pinpoints the standout car insurance providers in Laredo for unique consumer priorities:

• Best overall: Chubb (MoneyGeek score 91 out of 100)
• Best for service: Chubb (MoneyGeek score 92 out of 100)
• Best cheap: Chubb (MoneyGeek score 90 out of 100)

Chubb emerges as the best in the city for overall value, service and affordability — its high scores reflect a balanced blend of what consumers typically seek in their car insurance company. Customers focused strictly on saving may be drawn to the competitive pricing reflected in the best cheap category. Those prioritizing exceptional customer experience will find Chubb’s service commendation reassuring. Finally, the best overall category showcases Chubb's ability to deliver a strong combination of service quality and affordability.

MoneyGeek found that Chubb is the best option for car insurance in Laredo, providing top-tier service to its customers. For those seeking the best car insurance, these companies stand out in Laredo:

• Chubb: MoneyGeek score of 91 out of 100 ($1,684 per year)
• State Farm: MoneyGeek score of 74 out of 100 ($1,127 per year)

Chubb distinguishes itself with a high MoneyGeek score that reflects its excellence, particularly in the realms of customer satisfaction and claims. This score is indicative of a full coverage policy, representing a balanced blend of quality service and comprehensive coverage for Laredo drivers.

MoneyGeek found that Chubb is the best option in Laredo for stellar car insurance customer service. Its exceptional MoneyGeek score reflects a standing commitment to customer satisfaction, efficient claims handling, and comprehensive coverage options.

• Chubb: MoneyGeek score of 92 out of 100 ($1,684 per year)
• Foremost: MoneyGeek score of 77 out of 100 ($2,472 per year)

Chubb stands out for its well-rounded service, particularly excelling in claims handling, which is a significant component of the MoneyGeek rating. This underscores their reliability and the trust customers place in their car insurance provisions.

MoneyGeek found that Chubb is the best option in Laredo for consumers seeking affordable and reliable car insurance. This selection is not only based on affordability but also takes into account claims handling and customer satisfaction.

• Chubb: MoneyGeek score of 90 out of 100 ($731 per year)
• Mercury: MoneyGeek score of 79 out of 100 ($421 per year)

Chubb stands out with its top-tier MoneyGeek score, reflecting its exceptional balance of cost and quality for minimum coverage policies. This score highlights Chubb's strengths, particularly in customer satisfaction and claims handling.

In Laredo, Texas, the average cost of car insurance comes in at $1,816, according to a report by MoneyGeek. When compared to the average car insurance cost in Texas, Laredo residents pay slightly more — the state average is $1,782. The state of Texas as a whole barely outpaces the national average cost of car insurance, which is $1,781, by just $1.

Car insurance rates are influenced by a myriad of factors, including but not limited to one's location. Location plays a significant role in determining insurance premiums due to variables such as accident rates, thefts and the cost of repairs in the area. For example, MoneyGeek's analysis shows that the city with the most expensive car insurance premium in Texas is Houston at $2,177, with the cheapest in Wichita Falls, with a premium of $1,414.