Car insurance in Laredo is a legal requirement for drivers who own a registered vehicle. The average annual cost of car insurance in Laredo is $2,015 for a full coverage policy and $549 for a minimum coverage policy. But every car insurance provider in Laredo charges a different rate for coverage, so the actual price you will pay can vary.
In 2019, there were 5,577 car accidents in Laredo, so it is important to have a comprehensive car insurance policy that protects your legal and financial responsibility. We did some research to identify the best cheap car insurance in Laredo based on average rate, coverages available, discounts, customer service and more.
Best car insurance companies in Laredo
The best car insurance companies in Laredo offer below-average rates, endorsement coverages, generous discounts, good customer service and excellent third-party ratings from organizations like J.D. Power and AM Best. These are the top companies we recommend for drivers in Laredo, Texas:
|Insurance company||J.D. power score||Average annual premium for minimum coverage||Average annual premium for full coverage|
|Geico||846 / 1,000||$354||$1,496|
|State Farm||844 / 1,000||$540||$1,620|
|USAA||878 / 1,000||$439||$1,422|
|Allstate||832 / 1,000||$564||$1,855|
|Nationwide||820 / 1,000||$569||$1,685|
Quadrant Information Services, 2020
Geico’s claim to fame is cheap car insurance rates, especially in Texas. The average Laredo driver pays just $1,496 annually for a full coverage policy, which is almost $520 cheaper than the citywide average rate. Geico’s coverage options are limited, but the company offers lots of great discounts, including savings for military members, federal employees, safe drivers, good students, having a vehicle with advanced safety features and always wearing a seat belt.
State Farm is the biggest car insurance provider in the country based on market share. The company is known for its flexible coverages and discounts, specifically for young drivers. State Farm has two safe driver discount programs, Drive Safe & Save for drivers over 25 and Steer Clear for drivers under 25. The company also has savings for good students, students away at school, being accident-free and bundling a home and auto insurance policy.
USAA is an insurance company exclusively for military personnel. The company only sells policies to active duty and retired service members, and their spouses and children. If you qualify for USAA, you can take advantage of the company’s personalized customer service, low rates and discounts. According to USAA’s website, drivers save an average of over $700 when they switch to USAA from another provider, on top of the company’s already cheap premiums.
Allstate is a solid car insurance company for drivers in Laredo who want good coverage for an affordable price. The company sells a variety of add-on policies, like sound system insurance and accident forgiveness, plus a number of discounts. Drivers can save 40% or more by enrolling in the Drivewise safe driver program, signing up for deductible rewards, bundling their policies, insuring a new vehicle, paying their annual premium in full and more.
Drivers who are looking to build out their policy with endorsements will be more than satisfied with Nationwide’s choice of add-on coverages. You can design a personalized policy with accident forgiveness, roadside assistance, a total loss deductible waiver or gap insurance. Nationwide also has a Vanishing Deductible® program, where you can lower your deductible by $50 for each six month claims-free policy period.
Cheapest car insurance in Laredo
The average cost of car insurance in Laredo is more expensive than the average rate in Texas. For comparison, the average Texas driver pays $1,800 annually for full coverage insurance and $496 annually for minimum coverage insurance. The United States national average rate is $1,736 per year for full coverage and $536 per year for minimum coverage.
The following table highlights the cheapest car insurance rates in Laredo from the most popular carriers based on market share:
|Insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
Not all cheap car insurance carriers are created equal. Drivers who are looking for the cheapest car insurance company in Texas should consider other factors besides price. For example, Geico and State Farm offer the fewest coverage options. Allstate, Mercury and USAA offer more endorsements if that is important to you.
All five providers offer good discounts, but the specific savings vary. For instance, USAA is the only company that has a discount for driving under a certain annual mileage. Similarly, Geico is the only company that has a discount for federal employees and emergency deployment.
Additionally, USAA only serves military personnel, so you must qualify for coverage in order to buy a policy. The other providers on this list have no eligibility restrictions. In terms of J.D. Power’s customer satisfaction scores, Geico, State Farm and USAA are the only companies rated above average. Allstate is ranked below average, and Mercury is not scored.
Laredo insurance requirements
Car insurance in Laredo is required. Drivers must carry at least 30/60/25 personal liability insurance, which includes the following coverages:
- $30,000 in bodily injury coverage per person
- $60,000 in bodily injury coverage per accident
- $25,000 in property damage coverage per accident
Laredo drivers who purchase a minimum coverage policy will pay the cheapest rate. However, opting for a liability-only policy in order to save money is not recommended. There is no guarantee that a minimum coverage policy will cover the full cost of an accident. If your financial responsibility exceeds your policy’s limit, you have to pay the difference out-of-pocket.
In some cases, drivers in Laredo are required to carry full coverage car insurance. This is typically the case for drivers who lease or finance their car through a lender. Insurance companies recommend that most drivers purchase more coverage than what is required for added protection and peace of mind.
Car insurance discounts in Laredo
Drivers in Laredo can take advantage of car insurance discounts. Most car insurance providers offer savings opportunities to help drivers get a lower rate. Here are some of the most common car insurance discounts available in Laredo:
- Multi-policy discount: Drivers who bundle two or more policies, usually home and auto insurance, can get a discount on their premium.
- Defensive driver discount: Drivers who complete an approved defensive driver or safe driver training course can often qualify for savings on their policy.
- Safety equipment discount: If your car has certain safety features, like anti-lock brakes or an anti-theft device, most insurance companies will give you a discount.
- Automatic payment discount: Drivers who put their monthly insurance premium on an automatic payment system can get a cheaper rate.
Frequently asked questions
What is the best car insurance company?
Some of the best car insurance companies are USAA, Geico, Amica, State Farm, The Hartford and Progressive. However, the best company is different for every driver. Shop around, compare providers and get multiple rates to see which provider is the best and cheapest option for your personal coverage needs.
How much does car insurance in Laredo cost?
On average, Laredo drivers pay $2,015 per year for full coverage insurance and $549 per year for minimum coverage insurance. But keep in mind that factors like your age, credit score, claims history and the type of car you drive will also impact your rate.
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2018 Honda Accord, commute five days a week and drive 12,000 miles annually.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.