Cheapest and Best Car Insurance Companies in Waco, TX

Waco drivers can get the best and cheapest minimum coverage car insurance with Texas Farm Bureau. Our research found Nationwide is affordable for teens, while Mercury offers reasonable rates after a DUI. State Farm provides the cheapest full coverage policies and is the least expensive insurer for those with a military background. It also is a cheap option following a speeding ticket or at-fault accident.

On average, drivers will find the most affordable minimum coverage policies in Waco from:

• Texas Farm Bureau: $280 per year
• State Farm: $286 per year

According to our research, Dairyland has the priciest policies, costing $981 per year. State Farm offers the cheapest car insurance in Texas, with policies that average $300 per year as of October 2022. The least expensive company can differ depending on location.

All minimum coverage policies in the Lone Star State must include the following limits for bodily injury liability and property damage liability.

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

A liability-only policy covers an at-fault driver for damage to the other driver and any passengers in the accident. Regardless of the number of passengers involved, your insurance provider will cover costs up to $30,000 per individual for a maximum of $60,000 for each incident. At-fault drivers should expect to shoulder expenses that exceed the state insurance limits.

The following insurers provide the most affordable full coverage policies in Waco:

• State Farm: $613 per year
• Texas Farm Bureau: $661 per year

Dairyland is the most expensive, costing roughly $1,820 per year. State Farm is also the cheapest full coverage car insurance option in Texas. Its policies start at around $711 per year as of October 2022.

Full coverage policies include collision and comprehensive insurance.

• Collision Insurance: Financially protects you against damage to your vehicle in the event of a crash with another object or car.
• Comprehensive Insurance: Covers damages caused by animals, theft or natural disasters.

Drivers with newer vehicles should consider purchasing full coverage since it offers extra protection your car might need. However, those with older vehicles should weigh the cost of full coverage against what their car is worth.

Drivers with a poor record will find the most affordable rates with the following carriers:

• Speeding ticket: State Farm ($613 per year)
• At-fault accident: State Farm ($763 per year)
• DUI: Mercury ($1,035 per year)

The most expensive providers are Chubb after a DUI ($2,369 per year), Dairyland following a speeding ticket ($2,231 per year) and Foremost for drivers who get in an at-fault accident ($3,169 per year). A poor driving record can severely impact your auto insurance quotes. Even the most affordable rates for drivers with bad records are generally more costly than the cheapest estimates for safe drivers.

You can still find affordable car insurance rates in Waco if you have a bad driving record. Just note that premiums are more expensive for drivers with severe violations. The average cost of auto insurance for a driver with a clean record in Waco is $1,038 per year. Drivers with a DUI on their record should expect to pay $489 more and those with a speeding ticket $223 more. However, drivers can find cheap auto insurance even after a violation.

Waco families who want to add a 16-year-old driver to their family policy will find the cheapest rates from:

• Nationwide: $1,284 per year for female teens; $1,463 per year for male teens
• State Farm: $1,605 per year for female teens; $1,941 per year for male teens

Allstate is the priciest for female teens ($5,877 per year) and male teens ($6,917 per year). Many insurers charge more to cover male teens than female teens because they’re considered high-risk. However, the difference in premiums based on gender declines as teens reach their 20s.

Adding a teen driver to your family policy is much more cost-effective than purchasing a separate policy. Our research found that the average cost of including a 16-year-old male in a family policy is $3,810 per year in Waco. Teen drivers who purchase an entirely separate policy will likely pay $3,267 more. That is a significant cost difference of 46%. Another way to save on premiums is to compare cheap auto insurance policies for teen drivers and take advantage of student discounts.

Waco drivers with a military background can get the cheapest auto insurance premiums with these companies:

• State Farm: $613 per year
• Texas Farm Bureau: $661 per year

These rates are for a full coverage policy. We also found that USAA is a great carrier that caters to military personnel. Drivers looking for affordable minimum coverage car insurance for military members should consider Texas Farm Bureau ($280 per year) and State Farm ($286 per year).

You can spend 15 minutes or more just filling out your personal information to get a quote on an insurer’s website. You’ll also need to repeat the process if you want to compare rates from several companies. To make life easier, use MoneyGeek's car insurance calculator. It quickly generates estimates when you input the make and model of your vehicle, your driving record, age and desired coverage.

We outlined the top insurance companies for affordability, customer satisfaction and minimum coverage. Our top picks are:

• Best overall: Texas Farm Bureau (MoneyGeek score of 80 out of 100)
• Best for service: Chubb (MoneyGeek score of 76 out of 100)
• Best cheap: Texas Farm Bureau (MoneyGeek score of 81 out of 100)

MoneyGeek ratings are based on the weightings assigned to each factor. The best car insurance provider in Texas, similar to results in Waco, is Texas Farm Bureau. Drivers with a military background can also consider USAA.

We considered affordability and service quality to select the top car insurance providers in Waco:

• Texas Farm Bureau: MoneyGeek score of 80 out of 100 ($661 per year)
• State Farm: MoneyGeek score of 76 out of 100 ($613 per year)

Texas Farm Bureau offers the second most affordable rates and delivers the second-best customer experience of 12 companies city-wide. Policyholders will likely pay a relatively low price for exceptional service.

The insurers offering the best customer service in Waco, regardless of cost, are:

• Chubb: MoneyGeek score of 76 out of 100 ($1,210 per year)
• Foremost: MoneyGeek score of 67 out of 100 ($1,417 per year)

Chubb ranked highest out of 12 providers in our evaluation because it offers excellent claims management and customer service. However, its premiums are among the pricier options in the city.

We examined different auto insurance providers based on Texas state minimum requirements. The best and cheapest companies are:

• Texas Farm Bureau: MoneyGeek score of 81 out of 100 ($280 per year)
• State Farm: MoneyGeek score of 78 out of 100 ($286 per year)

Note that minimum coverage policies don't usually offer enough protection if you get into an accident. Although they cost less, liability-only policies only pay for liability expenses and not damage to your car.

On average, auto insurance in Waco costs $1,038 per year as of October 2022. That’s $163 cheaper than the average cost of car insurance in Texas, which is $1,201 per year. Premiums in Waco are also $227 less than the national average cost of $1,265 per year.

Our estimates reflect a full coverage policy with $100,000 in bodily injury liability per person and $300,000 in bodily injury liability per accident. It also includes $100,000 in property damage liability per accident.