Best cheap car insurance in Texarkana

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Texarkana is a relatively small town with a population of 37,277. The average cost of car insurance in Texarkana, Texas is $493 annually for minimum coverage, and $1,747 a year for full coverage insurance. The state of Texas requires all drivers to have at least minimum coverage car insurance with drivers subject to fines of $260 to $470 and a suspension of their driver’s license if caught driving without insurance.

Fortunately for drivers looking for the cheapest car insurance in Texarkana, the minimum amount of insurance to legally drive is relatively low in the state of Texas. However, experts recommend having enough car insurance to be more financially protected in the event of a costly claim or loss, and when it comes to choosing a provider, finding the lowest rates may not be your only priority.

To determine which may be the best car insurance providers in Texarkana for drivers to consider in their comparison shopping, Bankrate compared car insurance quotes from a dozen local insurance companies to evaluate average rates. In addition to competitive rates, customer satisfaction scores (out of 1,000) from J.D. Power’s auto insurance study and the number of discounts and coverages available were also considered in our selection.

Best car insurance companies in Texarkana

The following five carriers were selected as a result of our research in determining some of the best car insurance carriers in Texarkana.

Insurance company J.D. Power score Average annual premium for minimum coverage Average annual premium for full coverage
Fred Loya N/A $253 $2,745
Geico 846 $367 $1,304
USAA 878 $410 $1,371
Nationwide 820 $457 $1,287

Fred Loya

Fred Loya offers some of the cheapest car insurance in Texarkana for drivers who only need minimum coverage, based on rates from Quadrant Information Services. Fred Loya is also particularly known for providing the state-required minimum auto insurance coverage for high-risk drivers with poor credit or a history of accidents or traffic citations. Customers who prefer to buy car insurance from a neighborhood agent will find that Fred Loya has branches at several Texarkana Walmarts and grocery stores.

Geico

Geico’s popular commercial indicating drivers can save 15% or more on car insurance when switching is not the only feature that stands out about this provider. According to our research, the company offers the second-cheapest minimum and full coverage car insurance in Texarkana, with average annual premiums of $367 and $1,304, respectively. Geico’s discounts are an additional attractive consideration. A number of vehicle safety discounts, such as daytime running lights, airbags, anti-lock brakes and an anti-theft device may be applied if your vehicle has these features. You’ll also find discounts for good drivers and good students that can render rates even more affordable.

USAA

Catering to military veterans, active-duty and retired military personnel and their family members, USAA auto insurance is often a top consideration for those who qualify. Drivers who are eligible could save on coverage and benefit from exceptional customer service. Plus you could benefit from savings designed specifically for military personnel, such as premium reductions for garaging your car on a military base or storing it while you are deployed.

Nationwide

Nationwide’s full coverage insurance has some of the lowest car insurance Texarkana rates. The Nationwide SmartRide program is a usage-based telematics program that tracks your driving habits through an app downloaded on your smartphone. The safer your driving habits, the more you can typically save on your premiums. You can also cut your car insurance bill with Vanishing Deductible®. Every year you don’t have an accident or file a claim with Nationwide, you’ll see a reduction of $100 off your deductible (up to $500).

Cheapest car insurance in Texarkana

If you’re on a strict budget and need to focus on lowering the cost of your car insurance, the following top carriers (by market share) have the cheapest car insurance premiums, on average, in Texarkana. Nearly all of them come in lower than the city-wide annual average of $493 for minimum coverage, and $1,747 for full coverage.

These providers’ average rates are also lower than the state’s average cost of $524 and $1,823 a year for minimum and full coverage, respectively. Compared to the national average of $565 a year for minimum coverage and $1,674 a year for full coverage, these providers are still on the more affordable end of the spectrum.

Insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Geico $367 $1,304
USAA* $410 $1,371
Nationwide $457 $1,287
Mercury $488 $1,671
Allstate $514 $1,532

*USAA is not available to all drivers

If you’re in need of a more customizable insurance policy that’s still affordable, Allstate Insurance has many optional coverages. If you’re planning on taking out a loan to finance your vehicle and need to buy full coverage insurance, Nationwide or Geico’s average rates for full coverage insurance are among the lowest, according to data from Quadrant Information Services. Mercury Insurance is one provider who may be a good fit for high-risk drivers with multiple violations or a DUI conviction who can’t find affordable coverage anywhere else.

In all cases, your rates or eligibility may vary, so check with each provider you are interested in to compare options and rates.

Texarkana insurance requirements

The state of Texas requires all drivers to carry at least:

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

In Texas, PIP insurance is also required to be offered by providers (although the insured may reject this coverage in writing) as well as uninsured motorist coverage.

However, the state’s minimum may not be enough to financially protect you if you cause a serious accident. You will be responsible for any bills above your policy’s limits. To protect yourself, many experts recommend higher liability limits and full insurance coverage to provide coverage for your vehicle as well.

Car insurance discounts in Texarkana

Finding ways to save further on your car insurance can bring some relief to your budget, no matter what your specific circumstances. Car insurance companies offer a number of discounts as incentives, which may include the following:

  • Usage-based discounts: Enroll in a carrier’s telematics program and enable tracking to see if you could earn a discount based on your driving habits.
  • Bundling: Obtain a renters or homeowners insurance policy along with your auto insurance for potential savings from a single provider.
  • Vehicle safety equipment: If you drive a newer car that’s fitted with driver assistance and collision prevention, you can ask about discounts associated with these features.
  • Payment: Setting up automatic payments of your premiums or paying them annually or semi-annually could also lower the cost of your car insurance if a carrier offers this discount — and many do as a standard practice.

When researching discounts, you are likely to find multiple ones that you qualify for in addition the ones mentioned above. It could benefit you to look at provider websites to see all of the opportunities for savings available. Usage-based discounts and bundling are often good starting points to reduce your auto insurance premium.

Frequently asked questions

What is the best car insurance company?

The best car insurance companies will depend on each driver’s personal preferences for affordability, customer service, discount options or eligibility opportunities.

How much does car insurance in Texarkana cost?

Bankrate’s findings of the average cost of car insurance in Texarkana, Texas is $493 a year for minimum coverage and $1,747 annually for full car insurance.

How much car insurance do I need in Texarkana?

Every driver must carry a minimum of $30,000 of bodily injury liability coverage per person and $60,000 per accident, as well as $25,000 of property damage liability coverage per accident.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 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 2019 Toyota Camry, 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.

Written by
Cynthia Paez Bowman
Personal Finance Contributor
Cynthia Paez Bowman is a finance and business journalist who has been featured in Bankrate, Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and TheSimpleDollar.com. She regularly travels to Africa and the Middle East to consult with women’s NGOs about small business development and works with select startups and women-owned businesses to provide growth and visibility.