Compare the Cheapest Car Insurance Quotes in Waco

Finding affordable auto insurance depends on your coverage needs and driver profile. GEICO offers the most affordable quotes for full coverage insurance in Waco, while Farmers is the cheapest for state minimum liability insurance. State Farm is the best option for drivers with speeding tickets. If you are a member of the military, USAA may be the cheapest insurer in most instances. Due to its quality customer service and affordability, MoneyGeek named GEICO the best overall car insurance provider in the city.

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Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

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Last Updated: 7/31/2022
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Finding affordable auto insurance depends on your coverage needs and driver profile. GEICO offers the most affordable quotes for full coverage insurance in Waco, while Farmers is the cheapest for state minimum liability insurance. State Farm is the best option for drivers with speeding tickets. If you are a member of the military, USAA may be the cheapest insurer in most instances. Due to its quality customer service and affordability, MoneyGeek named GEICO the best overall car insurance provider in the city.

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The Cheapest and Best Car Insurance in Waco

The Cheapest Car Insurance Companies in Waco

The following insurance providers offer the cheapest full coverage insurance policies in Waco:

  • GEICO: $714 per year
  • Farmers: $764 per year

While USAA offers an affordable premium of $763 per year, only military personnel and their families are eligible for its policies.

GEICO’s quote is just shy of 177% less than The General's, which at $1,977 is the most expensive full coverage premium in Waco.

A full coverage insurance policy includes comprehensive and collision insurance in addition to other coverages. The amount of liability coverage you select influences the premiums you pay.

Cheapest Car Insurance in Waco
Full Coverage 100/300/100
  • Company
    100/300/100per year
  • 1.
    GEICO
    $714
  • 2.
    USAA
    $763
  • 3.
    Farmers
    $764
  • 4.
    State Farm
    $775
  • 5.
    AAA
    $956
  • 6.
    Esurance
    $982
  • 7.
    Nationwide
    $1,013
  • 8.
    Allstate
    $1,069
  • 9.
    MetLife
    $1,166
  • 10.
    Mercury
    $1,237
  • 11.
    The General
    $1,977

As fully explained in our methodoly, MoneyGeek's analysis uses sample insurance rates for a 40-year-old male driver who is insured with a full coverage policy.

In addition to liability insurance, full coverage policies include the following two coverages, which explains their high cost when compared to state minimum or liability-only insurance:

  • Collision Coverage: Protects your car in the event of an accident with another vehicle.
  • Comprehensive Coverage: Provides coverage for non-collision-related losses, such as damage from adverse weather events, theft and fire.

A comprehensive auto insurance policy may be unsuitable for an older car, particularly if your yearly premiums exceed its replacement value. In this instance, you may wish to consider a state minimum or liability-only insurance policy.

Compare Car Insurance Rates in Waco

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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Insurance Rates

Cheapest Car Insurance in Waco for Minimum Coverage

A state minimum or liability-only insurance policy provides the bare minimum of coverage, and is usually the cheapest insurance available. The cheapest car insurance in Waco for state minimum and liability-only coverage is provided by:

  • Farmers: $373 per year
  • GEICO: $387 per year

USAA offers the city's cheapest quote at $336, but car insurance policies are limited to members of the military and their families.

Farmers is $594 less than The General, which charges an annual premium of $967 for similar insurance and is the most expensive in the city.

Insurance policies with minimum coverage have lower coverage limitations, and so they are less expensive. Without comprehensive and collision coverage, however, you may be underinsured in the event of an accident. The table below shows how changes in liability affect how much you pay in insurance premiums.

Cheapest Minimum Liability Car Insurance in Waco
State Minimum

Texas drivers are required to have a minimum of 30/60/25 liability insurance. While this is the lowest level of insurance required, you can expect the least amount of protection. If you are in an accident, you may be saddled with enormous financial liabilities.

For example, if the property damage in an accident totals $30,000, you are only insured for $25,000; the remainder is your obligation to pay.

Texas Minimum Liability Requirements

  • Item
    Description
  • 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 Waco if You Have Driving Violations

Your insurance premiums will go up if you are caught speeding, driving under the influence, or are found at fault in an accident. If you have driving violations, the cheapest car insurance in Waco is:

  • Cheapest after a ticket: State Farm, $775 per year
  • Cheapest after an at-fault accident: State Farm, $937 per year
  • Cheapest after a DUI: Esurance, $982 per year

By improving your driving record, you can lower your insurance premiums. This takes time, so while you’re doing that, shop around for insurance quotes to see who has the best and cheapest rates for drivers with bad records.

Cheapest Car Insurance in Waco With a Violation
Speeding Ticket

Average Cost of Car Insurance in Waco

Waco$1,065
Texas$1,316
U.S.$1,424

The average cost to insure a car in Waco is $1,065, cheaper than both the state and national average annual premiums.

The state average is $1,316, approximately 19.1% higher than the city average. Meanwhile, the national average is $1,424. That means Waco drivers typically pay 25.2% less for auto insurance compared to other drivers in the country.

Personalized Quotes to Get You the Cheapest Car Insurance in Waco

Getting personalized quotes based on individual circumstances, such as age, gender, credit score, location and driving history, will help you find the most accurate policy. We recommend that you compare car insurance quotes regularly to check if you qualify for discounts, rebates, or other savings as your circumstances change.

Compare Car Insurance Rates in Waco

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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The Best Car Insurance Companies in Waco

MoneyGeek scored the best auto insurance companies in Waco, Texas, based on average rates, claims ratings and user satisfaction. Based on the analysis, the top-rated companies in the city are:

  • State Farm: MoneyGeek score of 94.20 out of 100
  • GEICO: MoneyGeek score of 93.60 out of 100

Using the same ranking system, USAA scored 93.60 out of 100, making it the second-best choice for military members in Waco. However, because USAA is a member-exclusive insurer, it was excluded from MoneyGeek’s analysis.


1
State Farm
Score:85

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

Geek Quick Take
Geek Quick Take

With a near-perfect score on affordability and above-average scores on claims and satisfaction, State Farm ranks as the best car insurance in Waco. Policies cost $775 per year, and customers can get rideshare insurance as unique coverage.

More About State Farm

Drivers who work for a rideshare operator in Waco can take advantage of State Farm's unique rideshare insurance coverage. While working for a ridesharing company, this optional coverage activates your auto insurance policy. All coverages are included except for liability insurance. With roadside assistance coverage, you'll have somebody ready to assist in case of roadside emergencies. You can call for mechanical labor, towing and gas, oil and battery delivery services. However, you will have to pay for these services out-of-pocket. Another optional coverage reimburses up to $500 in rental car and travel expenses while your automobile is being towed following an accident.

Read MoneyGeek's State Farm auto Insurance Review
2
GEICO
Score:85

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

Geek Quick Take
Geek Quick Take

With an almost perfect score on affordability, policies from GEICO costs $714 per year in Waco. This insurer also achieved excellent scores in claims and satisfaction. GEICO offers mechanical breakdown insurance (MBI).

More About GEICO

Mechanical breakdown insurance (MBI) from GEICO covers all parts and systems. It is less expensive to buy this as an additional coverage rather than buying a standard dealer extended warranty separately. This coverage may be available to drivers in Waco who own a car that is less than 15 months old and has traveled no more than 15,000 miles. Assuming you're a safe driver who hasn't had an accident in the last five years, you could be eligible for accident forgiveness coverage without added cost. This protects your insurance rates in your first at-fault accident. This can also be included to your personal auto insurance policy as an add-on.

Read MoneyGeek's GEICO auto Insurance Review

Average Cost of Car Insurance by Postal Code

Car insurance rates in Texas may also vary depending on where the driver lives. That is because ZIP codes have different crime rates, accident statistics and numbers of uninsured drivers.

The cheapest neighborhood in Waco, 76706, has an average rate of $1,044 per year. The most expensive neighborhood, in ZIP code 76705, has an average car insurance rate of $1,086 per year. That is a difference of $42 per year.

  • Zip Code
    State Minimumper year
  • 76706
    $1,044
  • 76705
    $1,086

Factors That Impact Insurance Costs in Waco

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 Waco. How Waco ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.

accident2 icon
Most Accidents With Fatalities172nd/300
handcuffs2 icon
Most Car Thefts52nd/300
uninsured icon
Most Uninsured Motorists by State16th/50
insurance2 icon
Personal Injury Protection RequiredNo
rain icon
Most Annual Rainfall163rd/300
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Most Rainy Days190th/300

About the Author


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The MoneyGeek editorial team has decades of combined experience in writing and publishing information about how people should manage money and credit. Our editors have worked with numerous publications including The Washington Post, The Daily Business Review, HealthDay and Time, Inc., and have won numerous journalism awards. Our talented team of contributing writers includes mortgage experts, veteran financial reporters and award-winning journalists. Learn more about the MoneyGeek team.


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