bestauto insuranceWacoCompare the Cheapest Car Insurance Quotes in Waco, TX
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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Advertising & Editorial DisclosureLast Updated: 1/10/2023
Edited By |
Ashley Jacobs
Written By |
MoneyGeek Team
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.
bestauto insuranceWacoThe Cheapest and Best Car Insurance in Waco
Methodology
MoneyGeek collected data from J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC) to find the best car insurance in Waco, Texas.
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
- Company100/300/100per year
- 1.$714
- 2.$763
- 3.$764
- 4.$775
- 5.$956
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.
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
- CompanyState Minimumper year
- 1.$336
- 2.$373
- 3.$387
- 4.$403
- 5.$453
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
- 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 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
- CompanySpeeding Ticketper year
- 1.$775
- 2.$832
- 3.$855
- 4.$982
- 5.$1,000
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.
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 out of 100
- GEICO: MoneyGeek score of 94 out of 100
Using the same ranking system, USAA scored 94 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:94
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 Review2
GEICO
Score:94
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 Review3
Farmers
Score:89
4
AAA
Score:77
5
Nationwide
Score:72
6
Allstate
Score:69
7
Esurance
Score:50
8
Mercury
Score:49
9
MetLife
Score:45
10
The General
Score:1.4
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 CodeState 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.
About the Author
sources
- Kaiser Family Foundation. "2019 Employer Health Benefits Survey." Accessed January 16, 2020.