Cheapest and Best Car Insurance in Waco, TX (2024)

Finding the right car insurance in Waco, Texas, depends on coverage preferences and driver profiles. For full coverage policies, Texas Farm Bureau is the most affordable, while Nationwide is the cheapest for families with teens. For minimum coverage policies, Texas Farm Bureau has the lowest premium. For drivers prioritizing customer service, Chubb leads in Waco and also holds the title for best overall, indicating an ideal balance of value, performance and service.

MoneyGeek found that Texas Farm Bureau offers the cheapest car insurance in Waco for minimum coverage car insurance.

• Texas Farm Bureau: $280 per year
• Mercury: $380 per year

Dairyland offers the most expensive minimum coverage policy in Waco, costing $1,821 annually. The difference of $1,541 highlights how comparing car insurance rates can lead to significant savings.

Across all Texas cities, car insurance coverage minimums are governed by state law, and the following limits are observed:

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

If you are at fault in an accident and cause bodily injury to another person, your insurer will only cover up to $30,000. In the event of injuries to multiple people, your policy can provide up to $60,000. Any costs above these limits will be your out-of-pocket responsibility.

MoneyGeek determined that Texas Farm Bureau offers the cheapest option in Waco for drivers seeking the cheapest full coverage car insurance.

• Texas Farm Bureau: $661 per year
• State Farm: $873 per year

Dairyland has the most expensive full coverage policy in Waco, at $3,559 annually. This is $2,898 more than the cheapest option, emphasizing the importance of comparing rates. Full coverage policies are pricier than minimum coverage because they provide more comprehensive protection, including collision and comprehensive insurance, which covers a variety of vehicle damages.

MoneyGeek's full coverage policy sample in Waco elevates the liability limits beyond basic coverages, offering:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage liability per accident

This level of coverage is often referred to as a 100/300/100 plan. Full coverage policies also include additional protective measures beyond liability.

• Collision Insurance: This component insures your vehicle against the costs of damage resulting from a crash, whether with another vehicle or an object such as a tree or light pole. It also covers rollover accidents and pothole damage.
• Comprehensive Insurance: This protects your vehicle against non-collision incidents such as theft, vandalism, natural disasters and being struck by an animal.

If you own a new vehicle, choosing a full coverage insurance offers a robust layer of financial protection. For older vehicles, the cost of additional coverage could outweigh its benefits. It's crucial to assess how much car insurance you need by considering the trade-off between higher premiums for more extensive coverage and the risk of being underinsured with lower coverage levels.

MoneyGeek determined that in Waco, Texas Farm Bureau is the most affordable option for drivers with violations seeking full coverage insurance. Maintaining a clean driving record is the best way to ensure low insurance rates, but for drivers who have offenses, here are the cheapest options depending on the violation:

• Speeding Ticket: Texas Farm Bureau ($661 per year)
• At-Fault Accident: State Farm ($1,082 per year)
• DUI: Texas Farm Bureau ($1,241 per year)

Dairyland offers the most expensive rates, with annual premiums of $4,438 after a speeding ticket, $5,036 after an at-fault accident and $3,597 after a DUI. The difference in premiums shows how offense severity can affect car insurance rates.

In Waco, as with many cities, insurance rates increase in correlation with the severity of a driving offense because insurers view violations as indicators of increased risk. For instance, drivers with a speeding ticket in Waco may see an average annual rate of $2,463, while drivers with a DUI offense could face around $3,008. This substantial difference underscores the importance for individuals with bad driving histories to actively compare insurance rates to find the most economical option.

MoneyGeek identified that Nationwide offers the cheapest car insurance for teens in Waco.

• Nationwide: $1,284 per year for female teens; $1,463 per year for male teens
• State Farm: $1,605 per year for female teens; $1,941 per year for male teens

Allstate’s premium is the priciest at $5,877 for female teens and $6,917 for male teens. The significant difference between the cheapest and most expensive options highlights the importance of shopping around to ensure that families with teens find the best possible rates.

Teenage drivers face steep car insurance premiums, with the average individual policy in Waco costing $6,207 annually compared to $3,173 for teens added to a family plan. This difference reflects the higher risk insurers attribute to independent teen drivers. Insurers are often hesitant to approve individual policies for teens due to their lack of driving experience and higher accident probabilities, leading to more claims and thus, higher premiums. It is generally advisable for teens to be insured under a family plan to reduce costs and improve the likelihood of approval.

MoneyGeek found that Texas Farm Bureau offers Waco's cheapest car insurance for drivers with military backgrounds.

• Texas Farm Bureau: $661 per year
• State Farm: $873 per year

USAA ranks third with an annual premium of $939, but offers unique services helpful for active duty military members.

In Waco, securing the most economical car insurance provider may take more than an hour when allotting 15 minutes per company. However, with MoneyGeek's car insurance calculator, you can streamline this process. Simply input your age, driving history, credit score and coverage preferences to obtain a tailored rate estimate. This tool streamlines the rate comparison process, capitalizing on key factors influencing car insurance costs in Waco.

Finding the right auto insurance relies on prioritizing factors such as service quality, cost, coverage and other personal preferences. MoneyGeek has a scoring system that evaluates the best car insurance providers in Waco, tailoring outcomes to various needs.

• Best overall: Chubb (MoneyGeek score of 91 out of 100)
• Best for service: Chubb (MoneyGeek score of 92 out of 100)
• Best cheap: Chubb (MoneyGeek score of 90 out of 100)

Chubb emerges as Waco's leading car insurance provider, excelling in overall value, service and affordability. Clients seeking a harmonious balance between comprehensive coverage and budget-friendly options will find Chubb aligns with their requirements. For customers who prioritize exceptional service, Chubb's top ranking assures a premium customer experience. Its dominance in the 'best cheap' category also indicates a cost-effective choice for the budget-conscious, without compromising on the quality of service.

MoneyGeek found that Chubb is the best option in Waco for customers seeking the best car insurance provider.

• Chubb: MoneyGeek score of 91 out of 100 ($1,441 per year)
• State Farm: MoneyGeek score of 74 out of 100 ($873 per year)

Chubb stands out with its high MoneyGeek score, reflecting exceptional customer satisfaction and a perfect claims rating. MoneyGeek found that full coverage insurance policyholders are consistently pleased with the service and support they receive from Chubb, as it provides comprehensive protection at a competitive price point.

MoneyGeek found that Chubb is the best option in Waco for drivers seeking superior car insurance in terms of customer service, general satisfaction and coverage options – setting aside rate considerations.

• Chubb: MoneyGeek score of 92 out of 100 ($1,441 per year)
• Foremost: MoneyGeek score of 77 out of 100 ($2,233 per year)

Chubb stands out due to its exceptional balance of satisfaction, claims handling and coverage offerings. It scores highly across the board, especially in customer satisfaction and claims processing, contributing to its leading position in this category.

MoneyGeek found that Chubb is the best option in Waco for consumers seeking the most favorable blend of affordable car insurance rates and quality service. While affordability is heavily considered, Chubb's performance in claims handling and customer satisfaction significantly contribute to its preeminence.

• Chubb: MoneyGeek score of 90 out of 100 ($650 per year)
• Mercury: MoneyGeek score of 78 out of 100 ($380 per year)

Chubb stands out in Waco with its top MoneyGeek score, offering a superior combination of service quality and competitive rates for minimum coverage policies. Its lead in this category is largely attributed to its excellent customer satisfaction and claims service scores, which, when paired with its stable financial status, help Chubb outshine competitors.

In Waco, the average cost of car insurance is $1,519 per year. This figure falls below the average car insurance cost in Texas, which is $1,782, thereby making it $263 cheaper. Comparatively, Texas' overall average car insurance cost is just $1 above the national average of $1,781.

Car insurance rates are influenced by a variety of factors, such as the driver’s profile, vehicle type and coverage levels. However, location plays a critical role in determining insurance costs due to regional variations in accident rates, thefts and weather conditions. Data shows that Wichita Falls is the city with the cheapest premium at $965, whereas Houston has the most expensive premium at $1,436. This considerable difference of $471 illustrates how urban environments with higher traffic density may lead to higher rates, while more rural or less densely populated areas might offer lower insurance costs.