bestauto insuranceWaco2022Compare 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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Last Updated: 5/16/2022
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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.
bestauto insuranceWaco2022The 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
- 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 compared the customer service rankings and prices of Waco's auto insurance providers. According to our analysis, the following insurance providers are the best overall in the city:
- GEICO: MoneyGeek score of 85 out of 100
- State Farm: MoneyGeek score of 85 out of 100
MoneyGeek's rating system awarded USAA the highest score in Waco. Because USAA car insurance is only available to active military members and their families, it is not recognized as the best overall.
MoneyGeek determined the rankings of these auto insurance providers based on factors such as insurer financial stability, customer satisfaction, and affordability. This study drew on various sources, including data analytics and consumer intelligence firm J. D. Power.
1
USAA
Score:100
2
GEICO
Score:85
3
State Farm
Score:85
4
Auto Club of Southern California Insurance Group
Score:85
5
Allstate
Score:80
6
Progressive
Score:80
7
Nationwide
Score:80
8
Farmers
Score:77.5
9
Liberty Mutual
Score:72.5
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.
Methodology and Assumptions
MoneyGeek’s average premium rates for Waco are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
About the Author
sources
- Kaiser Family Foundation. "2019 Employer Health Benefits Survey." Accessed January 16, 2020.