The Cost of Insuring Your Car in Waco, TX, is $1,225

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The average cost of auto insurance in Waco, TX, is $1,225 and ranges from $1,032 to $1,498. Car owners here can save up to $490 by comparing multiple quotes and reviews from different insurers. The cost of auto insurance differs according to the needs of the driver, and also depends on numerous factors ranging from the make and model of the car to the driver’s age. Zimlon explores some factors that affect the cost of auto insurance in Waco, TX.

Auto Insurance Requirements:

  • Texas law requires the following:

  • Liability Coverage- 30,000 of coverage for injuries per person.

  • Up to a total of $60,000 per accident

  • $25,000 of coverage for property damage

Demographics:

Age and gender are some of the other factors that can affect the cost of auto insurance. As the above infographic indicates, married women tend to pay the least on insurance, at $1,127, since women are generally considered safer drivers.

Moreover, since auto insurance increases for drivers with minimum driving experience, teenagers tend to pay the most on insurance. Male teenagers have to pay $2,793 on average, while female teenagers pay $2,339. This is almost twice the amount paid by married men in Waco, TX.

Driving Record:

Possessing a clean driving record also helps in obtaining cheaper auto insurance. In contrast, a driving record riddled with multiple violations will only increase the cost of auto insurance. For example, post-DUI, the average cost of auto insurance in Waco, TX, increases to $2,278. Drunk driving has a far greater impact on insurance for teenagers. The average cost of auto insurance for male teenagers post-DUI rises to $5,194, while it increases to $4,350 for female teenagers.

Other violations that could lead to a massive increase include driving with an expired license and running a red light. 

Deductibles:

Deductibles are one of the most common factors affecting the cost of auto insurance in Waco, TX. A higher deductible leads to a decrease in the cost of auto insurance, while a low deductible increases the price. For instance, the cost of auto insurance when the deductible is $500 (Chevrolet, Silverado 1500 Work Truck) is $1,260. This goes down to $1,190, when the deductible is higher, at $1,000. However, it also depends on the make and model of the vehicle and the amount of the claim.