Car Insurance in Waco TX

Find the best car insurance in Waco

Waco, “Heart of Texas” is home to over thousands of people, making it the twenty-second most populous city in the country. To help protect those thousands of people and twenty-four million people in the state, there are laws that require every driver in the state to have Texas car insurance coverage before they can hit the road. Since it’s required by law, it’s important that you find the best Waco TX car insurance that you can find. It cannot only help you out tremendously during an accident, but it will also help you avoid a costly fine if you’re caught driving without it. Finding the right car insurance in Waco TX can be difficult if you do not know the basics. Aside from knowing where to look, you should also learn more about the law, rates, and factors affecting car insurance quotes.

Waco Car Insurance Laws

The minimum amount of car insurance coverage in your locality that you are required to have to drive your car on the road legally depends on the state you are in. The Insurance Department in each state sets the rules and regulations regarding the minimum coverage required.

The basic car insurance coverage, in general, is the liability coverage. This type of coverage will pay for the property damages and the bodily injuries that you have caused to other people and their cars during an accident. This is basically the type of insurance coverage that the state mandates. It is usually written in three numbers representing the coverage limits a car insurance policy can give in liability for bodily injury per person in an accident, liability for bodily injury to all people injured and property damage liability for one accident. The minimum required car insurance coverage in Waco TX is 30/60/25. This means that in an accident, the insurance policy will cover you for up to $30,000 in bodily injuries per person, $60,000 in bodily injuries total, and $25,000 in property damages.

  • $30,000 for bodily injury or death of a person per accident
  • $50,000 for bodily injury or death of at least two people in an accident
  • $25,000 for property damage

This is the minimum required by the State of Texas to have your car insured and preclude you from any legal liabilities, which includes fines ranging from $175 to $350 on the first offense.

Moreover, Texas has a lot of other charges like assessment charges and other annual penalties. It is easy to rack up more than $5000 in annual penalties if you are not careful.

Texas state law requires drivers carry their proof of insurance cards in their car at all times. Proof of insurance is also required for annual car inspections, registration, and some driver's license transactions.

How much car insurance do you need?

Like other types of insurance, choosing car insurance is a personal decision. It is important to choose the type of coverage that fits your specific needs. It can be overwhelming to try to find coverage that suits your needs and fits your budget.

If you buy a liability Waco TX car insurance policy, you’re getting the minimum coverage required by the law. The advantage of these policies is that it will allow you to drive in Waco legally. The drawback, however, is that if you’re involved in an accident that is your fault, no money will be awarded to you by your Waco car insurance company to help cover the costs of your repairs – they only pay for damages you do to other citizens’ property or body.

Specifics of Texas car insurance policies vary from one to the next, and comparing what each one offers is important. Some will cover your car only during accidents on the road while others will ensure you against theft and vandalism, for example. To save money, a liability policy is your best bet. But to give you peace of mind and protection, add the comprehensive, collision and uninsured/underinsured motorist coverage in Waco TX car insurance policy, may be worth the extra money that it costs.

Why Uninsured/Underinsured Motorist Coverage is Important in Waco TX?

Most states typically require uninsured motorist coverage as part of a comprehensive insurance policy. Uninsured motorist coverage will protect people involved in an accident with a person who is driving without car insurance. When the uninsured motorist is legally liable to pay but does not have the financial resources to do so, the portion of your insurance covering uninsured motorists' comes into effect.

Uninsured/Underinsured motorist coverage is not mandatory in Waco. The state of Texas has determined that approximately 20% of the cars on the road at any given time do not have any type of car insurance. This means that if you are in an accident, there is a 20% chance that you will end up paying for the damages yourself.

As a driver, you never know if or when an accident is going to occur – more importantly, you will not know who has good car insurance coverage. That is why it is necessary for you to protect yourself by getting uninsured motorist coverage on your car. By choosing uninsured motorist coverage, you can protect yourself, passengers and other drivers under your policy if any of you are involved in an accident with an uninsured motorist. If the uninsured motorist is found at fault, your policy will cover the medical expenses for those injured until the maximum limit on your policy is reached.

What is the SR-22 in Waco TX?

An SR-22 is a common addition to car insurance policies; however, not everyone needs one. Usually, they accompany the policies of individuals who have had some type of traffic violation and are now required to show proof that they are financially responsible for the car they operate.

This is a document that shows proof of financial responsibility if you plan to operate a car. Most good drivers don't need to add this to their policy; however, if you've had some type of traffic violation that requires one (usually this requirement is court ordered), then it will need to be added to your car insurance policy at the time that you file.

A few of the traffic violations that result in needing an SR-22 include DUI, DWI, serious moving violations, at-fault accidents that occurred while driving without insurance, repeat traffic offenses, having too many tickets in a short period, or having a license suspension or revocation. Along with the determination to file an SR-22, the court will determine how long you will need to keep the filing on your policy.

Luckily, the process of adding an SR-22 to your car insurance is simple. When signing up for a policy with an insurance company online or in person, you inform them of your need to add one to your policy. There is no additional cost for doing so and the company takes on the responsibility of filing the form with your state's Department of Motor Vehicles (TXDMV). Whenever you renew your policy, they will ask if you still need it, and if you do, you simply keep it until the required time to carry one expires.

Since carrying an SR-22 is associated with a violation, the requirement to carry one usually lasts for 3 years. Keep in mind that if you are carrying one and allow your policy to lapse, the car insurance company will be required to report this to the state, which will result in your license being suspended or revoked.

Waco Car Insurance Rates

Average car insurance rates in Waco

Description Price
Waco Minimum Car Insurance Coverage Rates $1,058 - $1,330
Waco Minimum Full Coverage Car Insurance Rates $2,124 - $2,381
Waco Minimum Car Insurance Coverage Rates for Young Drivers $1,778 - $2,093
Waco Minimum Full Coverage Car Insurance Rates for Young Drivers $2,844 - $3,175
Average monthly car insurance rates in Waco $88 - $264

How are Car Insurance Premiums Determined?

Car insurance companies look at a wide range of statistics for a given area then come up with a mean average amount per driver. So a large city like Waco, with lots of congestion, traffic accidents, higher rates of car theft and vandalism will be higher than a rural city say in North Carolina. The list of what affects insurance premiums is actually pretty long. But if you're wondering just how your coverage might be affected, take a look below at some factors that determine why rates change.

Age - Even though there's nothing you can do about the year you were born, companies look at how old you are to determine car insurance rates. If you're under the age of 25, you're going to see the highest rates because as a young driver, companies assume you'll be reckless. As you grow older, you'll see rates decrease; that is, as long as you don't make too many driving mistakes along the way.

Driving Violations - As you can imagine, having a bad driving record tops the list of what can affect insurance premiums. The more problems you have while on the road, the more your company will have to pay to cover you. So if you amass tons of violations, you can expect your car insurance rates to change.

The Type of Car You Drive - Affects car insurance rates that you use the type of car. Expensive cars and cars at risk of theft cause higher car insurance premiums.

Where You Live - If you live in a busy area like Los Angeles, you will end up paying more for your insurance than someone who lives in the plains of Oklahoma, or the backroads of Kentucky. There are simply more accidents in these areas because there are more people driving. Car theft is also more common in bigger cities, driving local premiums up.

Credit Rating - Most insurance companies check your credit report to decide how likely you are to actually pay your bill. So if you have fluctuations in your credit score, you are likely to also see fluctuations in your car insurance rate.

Good Driving Record - Many companies reward customers for an absence in violations, so if you behave on the road, you may see a positive change in your premium.

Costs - Health care costs are a factor in how the insurance company determines your car insurance premiums too. The more health care costs, the more the insurance company will have to pay should you be responsible for another driver's medical expenses. The car repair cost is also a factor if the general cost of repairing a car starts to rise it will more than likely show up in your monthly car insurance premium.

These are just a few items on the list that may change your car insurance. Some other items include marital status, occupation, geography, and even gender. Of course, you can't have control over everything that affects car insurance rates, but the things you can control can have a positive impact on your rates.

Average car insurance rates for cities in Texas: Amarillo: $1,014, Austin: $840, Corpus Christi: $1,019, Dallas: $986, Fort Worth: $1,004, Garland: $1,142, Houston: $1,193, San Antonio: $1,064.

Pick the Best Insurance Companies in Waco

There are so many positive aspects that people should take into consideration at the moment of picking the best insurance companies, it is not a difficult task if people are clear on the things or the benefits they want. A lot of characteristics are needed to make the best insurance companies, at the end most of them have already established a basic characteristic one that is to response the need of the costumer, that will be the only thing people need to focus on at the moment of picking the best insurance companies.

After receiving and reviewing your car insurance quotes make a short list of two or three insurers that are offering the best price for the coverage you are looking for. Next do a little more research to make sure the insurers you are considering have a good reputation for customer and claims service. A cheap car insurance policy is not a good deal if the insurer you purchase the policy from is not committed to providing its customers with quality customer and claims service.

JD Powers conducts an annual survey of customers of insurance companies. The survey asks respondents to rate their insurance companies on the quality of their insurance, their prices, and their customer responsiveness. Insurers highly rated in the survey will display the JD Powers rating on their website. JD Powers has a website which publishes the results of the survey for all insurers.

Body shops in Waco are another good place to seek information about insurance companies. Owners, managers and employees of body shops have had experience working with numerous insurers on claims repairs. Owners, managers and employees of body shops are generally willing to share their opinions about which insurers are easy to work with and which are difficult. Some body shops have compiled lists of recommended insurers based on their experience.

Another good way to find out how an insurer treats its current customers is to check with family and friends. Ask if those you know have had experience with the insurers offering you the lowest cost car insurance. Ask if they have filed a claim with the company and if so how would they describe their claims experience.

While all insurers licensed to sell insurance in Waco are going to be financially stable, if you are considering a regional or smaller insurer you may want to check the companies’ financial stability rating on A.M. Best or Standard & Poor's websites.

You want to purchase your car insurance from an insurer with better than a good financial rating and preferably from an insurer with an excellent financial rating.

Car Insurance Quotes in Waco

Average car insurance quotes for Waco car insurance companies

Rank Car Insurance Company Name Price
1 American Family $1,034
2 GEICO $1,072
3 Texas Farm Bureau $1,085
4 SafeAuto $1,104
5 Nationwide $1,118
6 Progressive $1,140
7 Farmers $1,189
8 State Farm $1,251
9 Mercury $1,297
10 Allstate $1,681
11 Unitrin $1,789
12 Encompass $1,822
13 21st Century $1,915
14 MetLife $2,199
15 Kemper Security $2,290

Find The Best Car Insurance For You in Waco

Prior to acquiring car insurance, you need to understand the contents of your policy. A thorough knowledge of your policy may end up saving you a considerable sum, and it could be very helpful if you need to make a claim.

Operating a car, and dealing with car insurance, go together, since the insurance is legally required to drive the car. Although many new drivers are well versed in driving skills, they have no idea what they need in regard to car insurance coverage. Remember, low-cost car insurance may not always give you’re the coverage you desire.

Understand what your personal policy contains. Similar to the fact that state car insurance requirements vary, depending on your residence. Motor vehicle insurance also varies according to who the provider is. At the time you pay your premium. You must be clear on all points concerning the coverage that you have purchased. We suggest that you see what different car insurance companies have to offer, and find one suitable for your particular situations.

Understand which discounts are applicable to you and which ones may be applicable to you in the future. This knowledge will enable you to obtain further discounts in the future.

There are a few discounts that are common in the industry:

  1. People who are retired or active military (Try USAA for this one)
  2. People who are credit union members tend to get lower rates from them
  3. Students (both college and high school) who get good grades
  4. If you combine other lines of coverage together, for example, home or renters and life with your car policy (all companies)
  5. Consider raising your deductible (all companies)
  6. Some companies are offering a small discount if you buy online (Progressive)
  7. Do you have more than one car to insure? Multi-car policy discount
  8. Safety Features (Air Bags, Anti-Lock Brakes)
  9. Anti-Theft Features

Know the company that is underwriting your policy. Knowing your car insurance provider means knowing the provider’s likes and dislikes. You need to know how much they will increase your rates in case of a minor traffic violation. You must have a further understanding of your provider’s policies in the event that you have a traffic violation. There are many companies that will terminate your policy immediately if you receive a conviction for DUI. You should also understand the manner in which your provider handles claims.

Make sure you know when your policy is valid. At times, people are not fully aware of the start and terminations dates of their policy. This can cause a policy lapse, which can have adverse consequences on the policyholder. This could be truly detrimental to your wallet if you are involved in an accident after a policy has already expired.

Here are our top tips to save money when you buy your car insurance policy:

  1. Buy your policy online and make great savings against high street prices.
  2. Always compare quotes between a few providers before purchasing your insurance.
  3. By comparing quotes you're guaranteed to find the cheapest car insurance quotes anywhere.
  4. Read our informative mini-guides to car insurance, so you know exactly what policy is best suited to your personal needs.
  5. You can lower your car insurance premium (price) sometimes by raising the excess you're willing to pay on a claim.
  6. Remember to quote any no claims bonuses you may have when purchasing a policy. Drivers who haven't made a claim in several years can often make great savings.
  7. Think carefully about the type of policy you need. Remember that a 'liability coverage' policy will only provide cover for damage to other cars and individuals, and you will not gain any compensation in the event of an accident.
  8. If you live in an area where you feel your car may be at risk of theft, then a 'comprehensive' or 'third party, theft and fire' policy may be a safer option.
  9. Never underestimate the cost of repairing or replacing your car. While a 'full coverage car insurance' policy may cost that little bit more, the difference is a drop in the ocean compared to replacing your car.
  10. When you purchase your policy check to see what provision they offer you while your car is being repaired or replaced.
  11. The question of whether the policy covers items in the car such as audio equipment.
  12. See whether you can protect your existing 'No claims bonus'.
  13. Make sure that you know the claims process for your car, most insurers have an emergency 24hr helpline. Can you make your claim online?
  14. Remember if you are planning to drive abroad to ensure that your policy provides sufficient cover for the country you visit.
Eric Gould