bestauto insuranceLaredoCompare the Cheapest Car Insurance Quotes in Laredo, TX
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.
REVIEW AUTO INSURANCE RATES
Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.
Advertising & Editorial DisclosureLast Updated: 1/6/2023
Edited By |
Kathryn Schroeder
Written By |
Mark Fitzpatrick
A comprehensive car insurance policy from Farmers costs on average $828 per year in Laredo, with state minimum liability coverage from the same company being $383 annually. State Farm charges drivers with a speeding ticket an annual premium of about $929, whereas USAA is an alternative insurer for veterans and current members of the military. MoneyGeek recommends State Farm for its affordability and high level of customer service.
bestauto insuranceLaredoThe Cheapest and Best Car Insurance in Laredo
Cheapest Overall - Farmers
Cheapest State Minimum - Farmers
Cheapest With a Driving Violation - State Farm
Best Overall - State Farm
Methodology
MoneyGeek took into account evaluations from J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC) alongside average rates to score auto insurers in Laredo.
The Cheapest Car Insurance Companies in Laredo
The two insurers offering the cheapest car insurance in Laredo on average are:
- Farmers: $828 per year
- GEICO: $852 per year
If you come from a military family, USAA is also an affordable option. You can purchase a full coverage policy with an average annual premium of $882 per year.
With an average annual premium of $828, Farmers is the cheapest insurance company in Laredo for full coverage. Its rate is about 172% less than The General, the most expensive car insurance in the city with an average annual premium of $2,256.
A full coverage policy includes comprehensive and collision coverage, though the quote you get can change based on the amount of liability insurance you choose.
Cheapest Car Insurance in Laredo
Full Coverage 100/300/100
- Company100/300/100per year
- 1.$828
- 2.$852
- 3.$882
- 4.$929
- 5.$1,081
According to our methodology, the sample driver we used to get these rates for our analysis is a 40-year-old male driver purchasing a full coverage policy.
Full coverage auto insurance includes comprehensive and collision coverage, which can be more costly than minimum coverage. However, full coverage policies give you more protection after an accident and help pay for damages to your vehicle.
- Comprehensive insurance: pays for damage to your car from a non-collision event, such as a hailstorm, theft or vandalism.
- Collision insurance: covers the cost of repairs to your car if you collide with another vehicle or a stationary object
Remember that if you have an older vehicle, full coverage car insurance may cost more than the replacement value of your car. To get the cheapest rates possible, drivers with older cars may opt for liability-only insurance or a policy that follows state minimum requirements.
Compare Car Insurance Rates in Laredo
Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
Cheapest Car Insurance in Laredo for Minimum Coverage
Policies with minimum coverage are your cheapest car insurance option. The most affordable insurers in Laredo for state minimum liability only policies are:
- Farmers: $383 annually
- GEICO: $429 annually
USAA car insurance in Laredo is roughly $405 per year, making it another affordable option for military members and their families.
The cheapest insurance company in Laredo for state minimum coverage is Farmers, charging $664 less than the most expensive provider, The General.
You'll certainly save money by choosing minimum liability-only coverage, but you'll be at risk of not being fully covered if you don't have collision and comprehensive insurance. See how rates change when liability limitations are increased by using the table below.
Cheapest Minimum Liability Car Insurance in Laredo
State Minimum
- CompanyState Minimumper year
- 1.$383
- 2.$405
- 3.$429
- 4.$437
- 5.$464
Texas law requires drivers to carry 30/60/25 in minimum liability insurance. This is the cheapest type of car insurance, which translates into lower monthly premiums. The risk with minimum coverage is that If you’re involved in an at-fault accident, you will almost probably be obliged to pay additional out-of-pocket expenses, which can be substantial.
Assume you are involved in an at-fault accident, and the other driver incurs $40,000 in medical expenditures. Your insurance will cover $30,000 of it, but you will be responsible for the remaining $10,000.
Texas Minimum Liability Requirements
- ItemDescription
- 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.
Cheapest Car Insurance in Laredo if You Have Driving Violations
DUIs, speeding tickets and at-fault accidents can significantly increase the cost of car insurance premiums. The insurance companies listed here offer the cheapest car insurance on average in Laredo for your specific violation:
- Cheapest after a ticket: State Farm, $929 per year
- Cheapest after an at-fault accident: State Farm, $1,090 per year
- Cheapest after a DUI: Esurance, $1,081 per year
If you have traffic violations, the best course of action is to improve your driving history. In the meantime, it’s smart to compare insurance quotes to find the cheapest insurance companies in Laredo for drivers with bad records.
Cheapest Car Insurance in Laredo With a Violation
Speeding Ticket
- CompanySpeeding Ticketper year
- 1.$929
- 2.$991
- 3.$997
- 4.$1,081
- 5.$1,096
Average Cost of Car Insurance in Laredo
Laredo$1,266
Texas$1,316
U.S.$1,424
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 with others in Texas, and around 11.1% less than the national average rate.
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.
Compare Car Insurance Rates in Laredo
Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
The Best Car Insurance Companies in Laredo
To score the best car insurance companies in Laredo, MoneyGeek analyzed average rates, claims ratings and customer satisfaction. The auto insurance companies with the highest scores in Laredo are:
- State Farm: MoneyGeek score of 94 of 100
- GEICO: MoneyGeek score of 93 out of 100
USAA received an overall score of 94 out of 100, making it the second-best auto insurance company in Laredo for eligible military personnel. We excluded it from our overall ranking because it’s only available to current and former military members and their families.
1
State Farm
Score:94
State Farm ranks as the best car insurance company in Laredo, receiving high scores for claims, customer satisfaction and affordability. It has an average annual rate of $929 for a 40-year-old driver with full coverage and offers add-on rideshare insurance.
More About State Farm
State Farm’s add-on rideshare insurance is ideal for Uber or Lyft drivers in Laredo. It extends several coverages in your policy, such as medical payments, emergency roadside assistance and rental car reimbursement, when your ridesharing app is on and you are available for hire. After matching with a rider or while transporting them, the only coverage that doesn’t remain is liability coverage.
State Farm also offers common add-on coverages like roadside assistance and rental car and/or travel reimbursement.
Read MoneyGeek's State Farm auto Insurance Review2
GEICO
Score:93
A full coverage GEICO policy for a 40-year-old in Laredo costs around $852 yearly. As the second-best auto insurer in the city, it earned high ratings for affordability, customer satisfaction and claims. Drivers can choose to add mechanical breakdown insurance (MBI) to their policy.
More About GEICO
GEICO’s mechanical breakdown insurance protects cars that are less than 15 months old with less than 15,000 miles at a cheaper rate than a standard extended dealer warranty. And unlike warranties that only cover specific items, MBI includes all parts and systems.
GEICO also offers Laredo drivers accident forgiveness, which ensures your insurance rate won’t increase as a result of your first at-fault accident. You can add it to your policy or earn it after being accident-free for five years after age 21.
Read MoneyGeek's GEICO auto Insurance Review3
Farmers
Score:93
4
AAA
Score:83
5
Allstate
Score:76
6
Esurance
Score:64
7
Mercury
Score:63
8
Nationwide
Score:62
9
MetLife
Score:33
10
The General
Score:13
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
- 78045$1,240
- 78041$1,261
- 78046$1,298
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.
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