Cheapest and Best Car Insurance Companies in Laredo, TX

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.