Compare the Cheapest Car Insurance Quotes in Waco

The average car insurance rate in Waco is $1,065 per year, cheaper than the state average. Among the widely available insurers in the city, GEICO is the most affordable option with an average rate of $387. MoneyGeek analyzed the cheapest carriers in the city using coverage amounts and ranked the best carriers that balance cost and quality.

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The Cheapest and Best Car Insurance in Waco

The Cheapest Car Insurance Companies in Waco

For a full coverage policy, the cheapest car insurance companies in Waco are:

  • GEICO: $714 per year
  • USAA: $763 per year

Affordability is one of the most important factors for many Waco drivers when looking for the best car insurance. With an average rate of $714 per year, GEICO is the most affordable car insurance company in the city. The General, which has an average rate of $1,977, is the most expensive option. That means The General policyholders typically pay 176.9% more than those with GEICO policies.

For this study, MoneyGeek used insurance rates for a 40-year-old male driver who has a full coverage policy with liability insurance and comprehensive and collision insurance.

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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.

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The Best Car Insurance Companies in Waco

MoneyGeek analyzed the best car insurance companies in Waco for drivers who value a balance of affordability and quality service. The top insurers are:

  • GEICO (MoneyGeek score of 85 out of 100)
  • State Farm (MoneyGeek score of 85 out of 100)

MoneyGeek’s rating system includes J.D. Power’s user satisfaction, affordability and financial stability rankings. USAA got the highest score, but MoneyGeek did not list it as best overall because it is only available to military members, veterans and their families.


1
USAA
Score:100

5/5

Affordability

5/5

Claims Ratings

5/5

User Satisfaction

A++

Financial Stability

2
GEICO
Score:85

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

3
State Farm
Score:85

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

4
Auto Club of Southern California Insurance Group
Score:85

5/5

Affordability

2/5

Claims Ratings

3/5

User Satisfaction

A+

Financial Stability

5
Allstate
Score:80

3/5

Affordability

2/5

Claims Ratings

3/5

User Satisfaction

A+

Financial Stability

6
Progressive
Score:80

3/5

Affordability

3/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

7
Nationwide
Score:80

2/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A+

Financial Stability

8
Farmers
Score:78

2/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

9
Liberty Mutual
Score:73

2/5

Affordability

2/5

Claims Ratings

2/5

User Satisfaction

A

Financial Stability

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.

Shopping around for car insurance in Waco could save you $351, which is enough to buy:


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117Cups of Coffee
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27Months of Your Favorite Streaming Service

Cheapest Car Insurance in Waco by Coverage Amount

How much coverage you buy will have a huge impact on car insurance rates in Waco. On average, the cost of a policy that only meets the state minimums is $526 per year. A full coverage policy in the city costs an average of $1,065 per year. That is a difference of $539.

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.

When looking for the best car insurance in Waco, it is important to consider the coverage level suitable for your needs. The most affordable car insurance is not always the best option. If you want higher liability limits, you can opt for a 50/100/50 liability-only or full coverage policy. That means you will be getting up to $50,000 for bodily injuries per person, $100,000 per accident and $50,000 for property damage. A liability-only policy only covers the other driver’s expenses, while a full coverage policy will include your expenses in case of an at-fault accident.

A GEICO policy with state minimums costs an average of $387 per year. A 100/300/100 full coverage policy from the company costs $714 on average, a difference of $327 per year.

Average Car Insurance Premiums: Liability-Only vs. Full Coverage

Liability Only
Full Coverage
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Cheapest Car Insurance in Waco if You Have Driving Violations

Car insurance rates in Waco also vary depending on driving records. Having moving violations like speeding tickets, a DUI or at-fault accidents will increase the cost of your insurance.

A MetLife policyholder with no violations pays an average of $1,166 per year, while a similar policy costs $2,525 for drivers with an at-fault accident on their record. That is more than double the cost or a difference of $1,359. A DUI will increase the rate by $1,659 for an average of $2,825 per year.

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
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Most Annual Rainfall163rd/300
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Most Rainy Days190th/300

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.

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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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