Best cheap car insurance in Waco

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Waco is a Central Texas city offering residents plenty of attractions, shopping and dining. You can also find affordable car insurance so you stay in budget while enjoying all Waco has to offer. With an average annual rate of $467 per year for minimum coverage and $1,645 per year for full coverage, there are several carriers offering Waco residents well-rounded coverage at affordable rates.

In 2019, there were more than 6,000 crashes in McLennan County alone, where Waco is located. While not the highest amount in Texas, auto accidents can happen anywhere at any time. The good news is affordable insurance is possible to keep you both covered and within budget so you are prepared. Bankrate has reviewed several carriers to find out which ones offer the most coverage options, best range of discounts, are financially fit and have great customer service ratings to help you find the policy you need.

Best car insurance companies in Waco

The best car insurance companies in Waco are Geico, USAA, Nationwide and Allstate. These four providers stand out not only for the high customer satisfaction ratings, but also their financial strength, discounts, coverage options and digital innovations — all while providing premiums for almost any budget.

Insurance Company J.D. Power Score
(Texas Region)
Average Annual Premium for Minimum Coverage Average Annual Premium for Full Coverage
Geico 846 / 1000 $337 $1,225
USAA 878 / 1000 $364 $1,255
Nationwide 820 / 1000 $416 $1,117
Allstate 832 / 1000 $501 $1,508

Geico

Geico offers the least expensive premiums among the carriers reviewed. But Geico goes beyond low rates in Waco by also offering extras for purchase. Specialty coverages such as car rental reimbursement, roadside assistance and mechanical breakdown coverage could help round out your policy. Geico also has some of the highest customer service ratings in Texas and the Southeast.

USAA

USAA offers auto insurance for members of the military and their immediate family members. Many of its coverage options are tailored to fit the specific needs of life for service members. For instance, if you are deployed, it is possible for your premiums to be reduced since your car is not in use.

USAA also scores extremely high for customer service, though its membership eligibility restrictions exclude it from the running against its competitors. Still, USAA not only brings in a high amount of J.D. Power Score points, but also an A- rating with BBB.

Nationwide

Nationwide offers low premiums and several policy customization options, making it a contender for best cheap car insurance in Waco. If you enroll in the SmartRide safe driving program, you can save up to 40 percent on your premiums, along with numerous other discounts. The carrier offers a wide variety of policy options, including gap insurance, roadside assistance and accident forgiveness.

Allstate

Allstate has both competitive rates for premiums in Waco and offers innovative digital tools for policyholders. The highly-rated mobile app gives you instant access to your auto insurance policy, including payments, filing claims and instant access to your agent. Plus, if you need roadside assistance, you can manage the call through the app. You can even track the progress of your service provider while you wait for help with your car.

Cheapest car insurance in Waco

The average cost of auto insurance in the U.S. is $565 annually for minimum coverage and $1,674 annually for full coverage. Texas comes in with average rates of $524 annually for minimum coverage and $1,823 annually for full. In addition to the cheap insurance providers in Texas, it can also be less expensive to insure your car in Waco, since average rates for the city are less than both the national and state averages.

Insurance Company Average Annual Premium for Minimum Coverage Average Annual Premium for Full Coverage
Geico $337 $1,225
USAA $364 $1,255
Nationwide $416 $1,117
MetLife $456 $1,931
State Farm $498 $1,321

No matter the average rates, every carrier has its advantages and drawbacks. For instance, while USAA offers incredible rates and coverage options, it is limited to members of the military or their family members. Geico has the least expensive rates, but does not offer the number of specialty coverage options as Nationwide.

All five carriers offer digital assets, such as online policy management and user-friendly apps. Some apps are more highly-rated than others, such as Geico and USAA higher ratings versus that of MetLife. Geico, USAA and State Farm also score high on the 2020 J.D. Power Auto Insurance Study ratings, but Nationwide falls below the industry average in Texas.

Waco insurance requirements

Drivers in Texas are required to carry 30/60/25 minimum liability insurance. This means you must have at least the following coverage:

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

Additionally, all auto insurance policies in Texas automatically include personal injury protection (PIP) in the policy. If you do not want this optional coverage, you have to tell the carrier. This coverage pays for your passenger’s medical bills and lost wages if you are involved in an accident.

However, carrying the bare minimum may not leave you with adequate coverage or even be an option for you. For instance, if you lease or finance your car, most lienholders require you to carry the additional collision and comprehensive coverage, until your car is paid off.

Car insurance discounts in Waco

Even though car insurance in Waco is less expensive than the national average, there are still opportunities to save on premiums. Discounts are typically offered by every carrier, but not all carriers offer the same discounts.

  • Pay in full: Most carriers offer discounts if you pay your annual premium upfront instead of breaking it into smaller, monthly payments. By paying your rate upfront, you could be rewarded with premium savings.
  • Defensive driving: If you take a defensive driving course approved by your carrier, you could earn a defensive driving discount.
  • Good student: If you maintain a higher GPA or consistently bring home good grades, good student discounts may be able to apply to your policy.
  • Claims-free: If you drive a specified number of years without an accident or claim, many carriers reward this by giving you a discount on your premiums or lowering your deductible.

Paying your auto insurance premium upfront can save you a lot of money on the backend, but it may not be possible for every driver’s personal financial circumstance. Going several years being claims-free or taking an approved defensive driving course, among other discount options, are also ways to make a meaningful difference on reducing your rates.

Frequently asked questions

What is the best car insurance company?

Finding the best car insurance in Waco, or any other town, is based on what is most important to you. Whether you value strong customer service, a user-friendly app and website or a carrier that has strong financial ratings, can all determine if a company is the best one for you.

Bankrate has reviewed several of these factors and found a list of providers that offer great customer service and numerous discounts over other competitors.

How much does car insurance in Waco cost?

The average car insurance in Waco is $467 annually for minimum coverage and $1,645 annually for full coverage, but your rates could be completely different since rates are based on several personal factors. Your age, credit score, driving record, zip code, vehicle and gender all influence how much your final rate will be.

Methodology

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

Rates are determined based on 2020 Quadrant Information Services data.

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.