Auto insurance in Waco, Texas costs an average of $459 per year for liability-only minimum coverage and $1,257 per year for full coverage. The cheapest car insurance company for most drivers in Waco is Nationwide.
Average cost of car insurance in Waco, Texas
Car insurance coverage in Waco, TX costs an average of $935 per year, or about $78 per month. Full coverage insurance costs more—but no matter what type of coverage you buy, it’s likely to be cheaper than the Texas state average or the national average.
| Coverage type | Waco | Texas | United States |
|---|---|---|---|
| Full coverage | $1,257 | $1,561 | $1,788 |
| Minimum coverage | $459 | $634 | $739 |
| All coverage | $935 | $1,163 | $1,361 |
The best car insurance companies in Waco, Texas
When searching for the best car insurance in Waco, Texas, it’s important to consider a range of carriers known for their competitive rates and reliable coverage. Notable companies include:
- Nationwide, known for its comprehensive policies
- Travelers, offering a variety of discounts
- Clearcover, renowned for its digital-first approach
Other reputable options include Safeco, Gainsco, National General, Dairyland, Progressive, and Allstate, each with unique features and benefits tailored to different driver needs.
| Insurance company | Average monthly rate (all coverage) |
|---|---|
| Nationwide | $35 |
| Travelers | $55 |
| Clearcover | $59 |
| Safeco | $65 |
| Gainsco | $66 |
| National General | $75 |
| Dairyland | $79 |
| Allstate | $90 |
| Progressive | $96 |
Years in business: 98
Jerry user rating: 4.3 stars
AM Best financial strength score: A+ (Superior)
Average full coverage monthly rate: $42
Average minimum coverage monthly rate: $17
Average monthly rate: $35
Nationwide stands out as the best choice for most drivers in Waco, TX due to its blend of affordable rates, extensive coverage options, and a strong reputation for customer service. Their tailored policies and various discount opportunities make them a versatile and cost-effective option for a wide range of drivers.
Years in business: 7
Jerry user rating: 4.6 stars
AM Best financial strength score: A- (Excellent)
Average full coverage monthly rate: $70
Average minimum coverage monthly rate: $28
Average monthly rate: $59
Clearcover is an ideal choice for teen drivers and young adults in Waco, TX thanks to its competitively low prices for those aged 18-21 and a strong emphasis on digital policy management. This modern approach caters well to tech-savvy younger drivers, offering convenience and affordability.
Years in business: 170
Jerry user rating: 4.5 stars
AM Best financial strength score: A++ (Superior)
Average full coverage monthly rate: $78
Average minimum coverage monthly rate: $18
Average monthly rate: $55
Travelers is a standout choice for drivers with violations in Waco, TX due particularly to its Minor Violation Forgiveness program, which forgives a single minor violation (like a speeding ticket) within a specified period. This feature makes it an appealing option for those seeking to maintain affordable coverage despite a less-than-perfect driving record.
Recent trends in Waco car insurance prices
The cost of car insurance in Waco has risen in the past two years, with the S&P Global recording an average increase of 37.6% across Texas since mid-20221. If you’ve seen your rates go up lately for no apparent reason, these factors could be to blame:
- Increase in unsafe driving: A rise in risky driving behaviors across Texas has led to more accidents and claims, necessitating higher insurance rates.
- Inflation and cost of parts: Inflation and a surge in the cost of car parts, partly due to a global microchip shortage, have driven up repair costs, which are reflected in increased insurance premiums.
- Labor shortages: The industry is facing labor shortages in vehicle repair sectors, making repairs more time-consuming and expensive, further contributing to the rise in insurance rates.
What is the minimum car insurance required in Texas?
Texas only requires drivers to purchase liability insurance.
The minimum requirements set by the Texas Department of Insurance are as follows2:
- Bodily injury liability: $30,000 per person and $60,000 per accident. This covers injuries or death to other people in an accident you cause.
- Property damage liability: $25,000 per accident. This covers damage to other people’s property in an accident you cause.
These requirements are commonly referred to as 30/60/25 coverage. It’s important to note that these are just the minimum requirements, and drivers often opt for higher coverage limits for greater protection.
Texas car insurance companies are also required to offer uninsured/underinsured motorist coverage to every driver. This coverage pays for your medical bills or damage to your vehicle if you’re hit by an uninsured driver, a hit-and-run driver, or someone without enough liability insurance to cover your costs—but you can reject this coverage in writing if you prefer to only carry liability insurance.
Liability vs. full coverage: Which should you get in Waco, TX?
When choosing between state minimum liability coverage and full coverage car insurance in Waco, TX, consider your specific needs and financial situation.
State minimum coverage, averaging $459 per year, is more affordable and meets legal requirements, but it offers limited protection, covering only damages to others in accidents you cause.
Full coverage, at an average of $1,257 per year, includes comprehensive and collision insurance, protecting your vehicle against a wider range of incidents, including theft, vandalism, and accidents regardless of fault. If you have a newer or high-value car, or if you want peace of mind against various risks, full coverage may be the wiser choice despite its higher cost.
If you have an auto loanLenders require drivers with an active auto loan or lease to carry comprehensive and collision coverage to protect their vehicle. In addition, if you’re leasing your car, you’ll likely need to carry high liability limits—100/300/100 or more.
The best auto insurance companies for state minimum liability coverage
Nationwide, Travelers, and Clearcover have the lowest average rates for drivers in Waco who opt to stick to state minimum liability limits.
| Insurance company | Average monthly rate |
|---|---|
| Nationwide | $17 |
| Travelers | $18 |
| Clearcover | $28 |
| Safeco | $32 |
| Allstate | $38 |
| National General | $42 |
| Progressive | $46 |
| Dairyland | $51 |
| Gainsco | $51 |
The best auto insurance companies for full coverage
Nationwide, Clearcover, and Travelers also have the lowest average rates for drivers who need full coverage.
| Insurance company | Average monthly rate |
|---|---|
| Nationwide | $42 |
| Clearcover | $70 |
| Travelers | $78 |
| Safeco | $78 |
| Gainsco | $90 |
| National General | $93 |
| Allstate | $98 |
| Dairyland | $106 |
| Progressive | $124 |
Optional add-on coverage
In Waco, TX, there are several optional car insurance coverages available to drivers:
- Collision coverage: Pays for damage to your vehicle in an accident, regardless of who is at fault.
- Comprehensive coverage: Covers non-collision-related damage to your vehicle, such as theft, vandalism, or natural disasters.
- Medical payments (MedPay): Helps cover medical expenses for you and your passengers in the event of an accident.
- Personal injury protection (PIP): Offers broader coverage than medical payments, including lost wages and other non-medical expenses following an accident.
- Rental reimbursement: Provides a daily allowance for a rental car if your vehicle is being repaired due to a covered claim.
- Gap insurance: Pays the difference between the amount you owe on your car loan or lease and the car’s actual cash value if it’s totaled or stolen.
Roadside assistance
To get roadside assistance in Waco, TX, you can either add it to your car insurance policy or obtain a membership with a roadside assistance provider like AAA. Many insurance companies offer this service as an optional add-on called towing and labor coverage, providing help for issues like flat tires, dead batteries, or lockouts.
Alternatively, you can access standalone roadside assistance programs that often offer broader services by signing up for a membership, which typically includes an annual fee. You can activate these services by calling the provider’s hotline number when you need assistance.
Penalties for driving without insurance in Waco
In Texas, driving without insurance carries significant penalties, which escalate for repeat offenders:
First Offense
- Fines from $175 to $350
- License renewal surcharge of $250 per year for 3 years
- SR-22 requirement
- Increased car insurance premiums due to becoming a high-risk driver
Repeat Offenders
- Fines from $350 to $1,000
- License renewal surcharge of $250 per year for 3 years
- Increased premiums as a high-risk driver
- SR-22 requirement
- Suspension of vehicle registration and/or driver’s license
- Vehicle impoundment for up to 180 days at $15 per day (up to $2,700 total)3
What affects the cost of car insurance in Waco, TX?
The cost of car insurance in Waco, TX is influenced by a variety of factors, each contributing to the overall risk assessment by insurers:
| Factor | Reason |
|---|---|
| Age | Younger drivers often face higher premiums due to less experience and a higher risk of accidents, while older, more experienced drivers usually enjoy lower rates. |
| Number of drivers in your household | More drivers on a policy, especially younger ones, can increase the cost due to the increased risk associated with additional drivers. |
| Homeownership status | Homeowners might receive lower rates, as they are often perceived as more stable and responsible. |
| Credit score | A good credit score can result in lower insurance rates, as insurers often correlate creditworthiness with responsible driving behavior. |
| Vehicle type | The make, model, and age of the vehicle can significantly impact insurance rates, with higher costs for luxury or high-performance vehicles. |
| Crime rates in your area | Higher crime rates, especially for theft and vandalism, can lead to increased insurance premiums. |
| Driving history | A clean driving record leads to lower rates, whereas a history of violations or accidents increases premiums. |
These factors collectively determine your auto insurance premiums, reflecting the unique risk profile and circumstances of each driver.
Age
Driver age and experience significantly impact car insurance rates, as younger and less experienced drivers are typically charged higher premiums due to their higher risk of accidents and claims. Conversely, older drivers with more years of driving experience often enjoy lower rates, reflecting their lower risk profile and proven track record on the road.
Teens and young adults
18- to 21-year-old drivers in Waco, TX pay an average of $5,888 per year for full coverage, while liability coverage costs the same age group just $2,008 per year.
| Insurance company | Monthly full coverage rate |
|---|---|
| Clearcover | $117 |
| Allstate | $162 |
| National General | $162 |
| Safeco | $162 |
| Travelers | $166 |
| Dairyland | $503 |
| Progressive | $610 |
Learn more: Find cheap car insurance for teenagers
Average rates for Waco drivers aged 22-25
Car insurance rates drop dramatically as drivers leave their teens behind: car insurance quotes for drivers aged 22-25 average about $1,197 per year for full coverage and $635 per year for liability coverage.
| Insurance company | Monthly full coverage rate |
|---|---|
| Nationwide | $29 |
| Safeco | $77 |
| Travelers | $78 |
| Clearcover | $85 |
| Gainsco | $91 |
| Progressive | $98 |
| Dairyland | $108 |
| Allstate | $120 |
| National General | $127 |
Average rates for Waco drivers aged 26-34
For Waco drivers in their late 20s and early 30s, the average cost of full coverage car insurance is about $1,269 per year. Liability-only coverage costs an average of $524 per year.
| Insurance company | Monthly full coverage rate |
|---|---|
| Nationwide | $26 |
| Clearcover | $68 |
| Safeco | $95 |
| Gainsco | $99 |
| Progressive | $99 |
| Travelers | $100 |
| Allstate | $104 |
| National General | $108 |
| Dairyland | $112 |
Average rates for Waco drivers aged 35-44
As Waco drivers enter their mid-30s and early 40s, the cost of full coverage drops to an average of just $993 per year, with liability coverage coming in at $422 per year.
| Insurance company | Monthly full coverage rate |
|---|---|
| Nationwide | $59 |
| Clearcover | $65 |
| Safeco | $72 |
| Travelers | $72 |
| Progressive | $78 |
| Dairyland | $84 |
| Gainsco | $84 |
| National General | $85 |
| Allstate | $92 |
Average rates for Waco drivers aged 45-54
Waco drivers between ages 45 and 54 pay an average of $1,045 per year for full coverage and $432 per year for liability coverage.
| Insurance company | Monthly full coverage rate |
|---|---|
| Clearcover | $73 |
| Safeco | $75 |
| National General | $80 |
| Dairyland | $87 |
| Gainsco | $88 |
| Travelers | $88 |
| Progressive | $90 |
| Allstate | $98 |
Average rates for Waco drivers aged 55-64
Seniors in Waco pay the lowest rates for car insurance: an average of $762 per year for full coverage and just $353 per year for liability coverage.
| Insurance company | Monthly full coverage rate |
|---|---|
| Travelers | $37 |
| Nationwide | $38 |
| Clearcover | $50 |
| Safeco | $55 |
| National General | $62 |
| Progressive | $62 |
| Allstate | $70 |
| Dairyland | $73 |
| Gainsco | $80 |
Learn more: The best car insurance for seniors
Household makeup
In Waco, Texas, the makeup of a household can greatly affect the cost of car insurance, as adding more drivers, particularly teen drivers, to a policy often increases premiums due to the heightened risk associated with additional drivers and vehicles.
On the other hand, if you insure multiple vehicles with the same company, you’re typically eligible for a discounted rate.
| Number of cars in household | Average annual full coverage rate |
|---|---|
| 1 | $1,257 |
| 2 | $1,470 |
| 3 | $1,591 |
| 4+ | $1,824 |
Housing situation
In Waco, TX, homeowners typically pay less for car insurance compared to those who rent a house or apartment as insurance companies often view homeownership as a sign of stability and responsibility, which are associated with lower risk profiles.
Bundling homeowners insurance with an auto insurance policy also typically results in a larger discount than bundling car and renters insurance.
| Average annual full coverage rate | Average annual minimum liability rate | |
|---|---|---|
| Homeowners | $977 | $426 |
| Non-homeowners | $1,360 | $468 |
Learn more: The best home and auto insurance bundles
Credit score
In Waco, TX, your credit history can significantly impact your car insurance rates, with a recent study by the Consumer Federation of America indicating that Texas drivers with poor credit pay up to 126% more than those with excellent credit4.
Raising your credit score from “poor” to “fair” can moderately improve your car insurance rates—but achieving a good (700+) credit score can make an even bigger difference for most drivers.
| Credit range | Average annual rate in Waco, TX |
|---|---|
| < 600 | $1,236 |
| 601 to 699 | $1,200 |
| 700+ | $910 |
Vehicle
The type of vehicle you drive also impacts your auto insurance premiums. In Waco, where trucks are a popular choice, the insurance costs for these vehicles vary. The typical monthly expense for full coverage insurance on Waco’s top three preferred pickup trucks is as follows:
- Ford F-150: $152 per month
- Chevy Silverado: $159 per month
- Ram 1500: $187 per month
It’s important to note that opting for higher-end trims, like the Ram 1500 Classic Laramie or the F-150 King Ranch, will result in higher insurance costs. Conversely, insurance for a used vehicle is typically more affordable.
Crime
Property crime—including vehicle theft and vandalism—is a serious problem in Waco. According to NeighborhoodScout, Waco’s auto theft rate is approximately 13% higher than the national average5. Theft and vandalism both increase the rate of comprehensive insurance claims, which adds to your risk profile.
Insurance companies study crime and accident statistics in your ZIP code to determine the risk factors associated with your driver profile. The tables below compare rates in the cheapest and most expensive ZIP codes in the city.
The most expensive zip codes in Waco
| Zip code | Average annual premium |
|---|---|
| 76707 | $1,899 |
| 76712 | $1,797 |
| 76705 | $1,793 |
The cheapest zip codes in Waco
| Zip code | Average annual premium |
|---|---|
| 76704 | $1,449 |
| 76711 | $1,505 |
| 76701 | $1,519 |
Driving record
Your Texas driving record plays a crucial role in determining your car insurance rates, as a history of accidents, traffic violations, or claims typically leads to higher premiums due to the increased risk you pose to insurers. Conversely, a clean driving record with no incidents can result in lower insurance rates, reflecting your lower risk as a safe driver.
| Coverage type | Clean record | Violations |
|---|---|---|
| Full coverage | $1,257 | $1,294 |
| Minimum coverage | $459 | $592 |
The best Waco car insurance companies for drivers with violations
| Insurance company | Average annual rate for drivers with violations |
|---|---|
| Travelers | $564 |
| Clearcover | $823 |
| Safeco | $851 |
| Nationwide | $719 |
| Progressive | $1,156 |
| National General | $1,219 |
| Allstate | $1,270 |
| Gainsco | $1,347 |
| Dairyland | $1,433 |
SR-22 insurance in Waco, TX
If you rack up multiple serious violations, you may need your insurance company to file an SR-22 certificate with the state DMV.
In Texas, an SR-22 insurance certificate is a document your insurance company files with the state to prove you have the minimum required auto insurance coverage. It’s often required for drivers who have had a DUI/DWI, been caught driving without insurance, or had other serious traffic violations, serving as a guarantee of financial responsibility for high-risk drivers.
Learn more: Non-standard car insurance for high-risk drivers
How to find affordable car insurance in Waco, TX
Waco drivers pay less for car insurance, on average, than the rest of Texas. But it’s still important to shop smart to find the best rates for you and your family:
- Shop around: Compare quotes from multiple insurance providers to find the best rates. Prices can vary significantly between companies, so it’s essential to shop around.
- Increase your deductible: Opt for a higher deductible to lower your premium. Just ensure you can afford the deductible in case of an accident.
- Maintain a good driving record: Safe driving can lead to lower insurance rates. Avoid accidents and traffic violations to qualify for safe driver discounts.
- Take advantage of discounts: Look for discounts such as those for good students, defensive driving courses, or having a car with safety features like anti-lock brakes or an anti-theft system.
- Work with a broker: Car insurance brokers like Jerry understand the insurance landscape in Waco and can help you find the best deals. Unlike insurance agents, brokers work for you.
Learn more: How to shop for car insurance like a pro
FAQ
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How much is car insurance in Waco, Texas?
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Who is the cheapest car insurance in Texas?
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How much is car insurance in Texas per month?
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What is the best and cheapest insurance for a car?
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What is the best car insurance quote company?
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What type of car insurance coverage is the cheapest?
Sources
- https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-private-auto-insurance-rates-see-double-digit-jump-in-2023-77178794 ↩︎
- https://www.tdi.texas.gov/pubs/consumer/cb020.html ↩︎
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.601.htm ↩︎
- https://consumerfed.org/wp-content/uploads/2023/07/Official-CFA-Credit-Score_2023-FINAL-REPORT.pdf ↩︎
- https://www.neighborhoodscout.com/tx/waco/crime ↩︎
Maria is an insurance writer with over 10 years of experience as a professional writer. Prior to joining Jerry’s editorial team in 2023, she worked at various online publications like Nimble Media, Factinate.com, and served as editor-in-chief at The Medium. She holds a double major in English and Professional Writing and Communications.
Sarah Gray is an insurance writer with nearly a decade of experience in publishing and writing. Sarah specializes in writing articles that educate car owners and buyers on the full scope of car ownership—from shopping for and buying a new car to scrapping one that’s breathed its last and everything in between. Sarah has authored over 1,500 articles for Jerry on topics ranging from first-time buyer programs to how to get a salvage title for a totaled car. Prior to joining Jerry, Sarah was a full-time professor of English literature and composition with multiple academic writing publications.
As Vice President of Insurance Operations at Jerry, Josh Damico leads teams across product development, operations and carrier relations, integrating Jerry’s smart and fast car insurance customer experience with that of traditional carriers to help customers find savings and coverage. Josh’s nearly 20 years of insurance-industry experience and knowledge generate partnerships with more than 55 name-brand and specialty insurance partners that enable Jerry to serve customers with all types of vehicle and policy needs.
Previously, Josh held executive roles at Geico, where he had vast regional oversight and leadership opportunities. In his most recent role as director of sales, servicing, and underwriting, Josh developed and executed profit and growth strategy for the New England states and New Jersey.
Josh holds a bachelor’s degree in business administration and management from Medaille College.
