The words “low-priced” and “insurance” really don’t belong together, in particular when you are searching for the best price on coverage for a company car. In an attempt to save some money, let’s start off by going over a few of the things that have a considerable impact on car insurance prices, and see how we can help you cut the cost of the next policy you buy.
The vehicle you are seeking coverage for is one of the primary factors when shopping for the cheapest auto insurance for a company car. Vehicles with high performance, poor safety features, or a history of substantial liability claims will cost much more to insure than safer, lower-performance models.
The data below presents car insurance rates for a number of the most cost-effective automobiles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $1,174 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,313 |
| Honda CR-V EX-L 4WD | $1,323 |
| Honda Accord LX 4-Dr Sedan | $1,322 |
| Chevrolet Impala LS | $1,361 |
| Toyota RAV4 Sport 4WD | $1,388 |
| Jeep Grand Cherokee Laredo 2WD | $1,396 |
| Ford Escape Limited 4WD | $1,396 |
| Toyota Corolla XLE | $1,464 |
| Toyota Prius | $1,474 |
| GMC Sierra SLT Extended Cab 4WD | $1,488 |
| Chevrolet Equinox LTZ AWD | $1,494 |
| Ford Explorer XLT 2WD | $1,491 |
| Ford Edge Limited 2WD | $1,497 |
| Chevrolet Malibu LS | $1,520 |
| Dodge Grand Caravan Crew | $1,552 |
| Ford F-150 XLT Crew Cab 4WD | $1,561 |
| Ford Focus SES 2-Dr Coupe | $1,562 |
| Toyota Camry XLE | $1,603 |
| Honda Civic LX-S 4-Dr Sedan | $1,608 |
| Dodge Ram 2500 Crew Cab SLT 4WD | $1,613 |
| Nissan Rogue S 2WD | $1,623 |
| Volkswagen Jetta SE 4-Dr Sedan | $1,635 |
| Find Cheaper Rates Go | |
Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Table data does not factor in specific location information which can raise or lower price quotes considerably.
Based upon the table data, we can conclude that makes and models like the Hyundai Elantra, Jeep Wrangler, Honda CR-V, and Honda Accord are likely to be a few of the less-costly vehicles to insure for your employer’s vehicle.
One of the many components that are looked at to help calculate the amount you pay each year for auto insurance is the neighborhood you call home in Orlando. Cities with more crime and/or more people will most likely pay more, whereas areas with less crime or weather claims have the luxury of cheap car insurance rates.
The information below rates the priciest cities in Florida for a company car to buy an auto insurance policy in. Orlando comes in at #18 with an annual cost of $2,008 for the average insurance policy, which is approximately $167 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Hialeah | $3,630 |
| 2 | Miami Gardens | $3,245 |
| 3 | Miami | $3,177 |
| 4 | Miami Beach | $2,953 |
| 5 | Miramar | $2,683 |
| 6 | West Palm Beach | $2,625 |
| 7 | Tampa | $2,558 |
| 8 | Hollywood | $2,552 |
| 9 | Pompano Beach | $2,518 |
| 10 | Pembroke Pines | $2,505 |
| 11 | Fort Lauderdale | $2,475 |
| 12 | Coral Springs | $2,474 |
| 13 | Davie | $2,448 |
| 14 | Brandon | $2,392 |
| 15 | St. Petersburg | $2,286 |
| 16 | Clearwater | $2,260 |
| 17 | Spring Hill | $2,039 |
| 18 | Orlando | $2,008 |
| 19 | Jacksonville | $1,960 |
| 20 | Port St. Lucie | $1,935 |
| 21 | Cape Coral | $1,917 |
| 22 | Lakeland | $1,883 |
| 23 | Tallahassee | $1,784 |
| 24 | Palm Bay | $1,750 |
| 25 | Gainesville | $1,696 |
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Premium costs are approximated as the specific garaging location can impact coverage prices noticeably.
Orlando auto insurance companies ranked
Choosing a good quality car insurance company can be difficult considering how many choices drivers have in Florida. The ranking information in the lists below may help you pick which car insurance providers you want to consider when comparing auto insurance rates for a company car. These rankings are for companies that insure vehicles across America, so smaller companies are not included in these rankings.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
The diagram below illustrates how choosing a deductible can change insurance costs when researching cheap insurance for a company car. The premium estimates are based on a married male driver, full coverage, and no other discounts are factored in.
As shown above, a 40-year-old driver could lower rates by $348 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $524 by changing to a $1,000 deductible. Young drivers, like the 20-year-old example, could save as much as $1,162 every year by choosing a higher deductible. If you do decide to increase your deductibles, it is a good idea to have additional funds in a savings account to satisfy the extra out-of-pocket expense that comes with higher deductibles.
Why you should be shopping around
Orlando, FL auto insurance rates are calculated based on many things that will increase or decrease the cost of having a policy. Simply getting older, increasing deductibles, or having an accident can cause premium changes that can cause some rates to be more affordable than others.
In addition to those changes, car insurance companies change prices at least once a year to adjust for heavy claims or excess profits. Larger than normal claims can result in higher rates, while a profitable period may result in lower-priced Orlando car insurance rates.
To illustrate this example, the chart below compares the cheapest car insurance in Orlando, FL for a 45-year-old male driver with no prior accidents, a clean driving record, and a good credit rating. If we estimate prices based on his current risk factors, USAA has the lowest car insurance rates in Orlando at $1,203 a year. This is $1,245 less than the average premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Mercury are the rest of the most affordable Orlando, FL auto insurance companies.
Now let’s give the driver in the first example a claim or two, less-than-perfect credit, and a couple of points charged on his driving record. Because each company has their own guidelines to determining premium rates, analyzing rates could result in a new list of affordable Orlando car insurance companies as shown below.
USAA now has the cheapest price in Orlando, FL with Allied, Esurance, State Farm, and Auto-Owners also having competitive pricing. This shows why consumers need to take the time to compare lots of rates when trying to find the best car insurance quotes for a company car.
Insurance prices are made up of many risk factors and can change substantially, so the cheapest rate the last time you shopped your coverage around may now be costing you a lot of money.
How to find budget-friendly auto insurance for a company car
The list below summarizes some of the recommended thrifty ideas that can help drivers find more affordable coverage.
- Increase the comprehensive and collision deductibles on your policy
- Do not file small claims
- Better credit rating means better rates
- Having at-fault accidents will increase rates
- Bundle home and auto and save
- Do not get tickets
- Keep rates low by shopping around frequently
That final tip is particularly necessary, as we pointed out in this article. Rates in Orlando fluctuate considerably, so drivers shouldn’t be reluctant to change to a new company if a better deal can be had. Staying with the same car insurance company is fine, but it’s not a great idea if that devotion results in you overpaying a lot of money every month. In just a couple of minutes you could shop around to find cheaper auto insurance for a company car.
If you aren’t sure which coverage you need and prefer to get some professional input when trying to find lower insurance rates for your employer’s vehicle, the agents listed below can help you determine which car insurance company is the best fit. To locate an Orlando insurance agent by location nearest to you, click the button below the list.
- GEICO Insurance Agent
5005 E Colonial Dr – Orlando, FL 32803 – (407) 897-7157 - Corkhill Insurance Agency, LLC
20 S Bumby Ave – Orlando, FL 32803 – (407) 898-8891 - All Insurance Able
2319 S Goldenrod Rd – Orlando, FL 32822 – (407) 243-9700 - Rick Fowler – State Farm Insurance Agent
2700 Corrine Dr – Orlando, FL 32803 – (407) 897-8100 - State and Co Insurance Agency
605 E Robinson St #450 – Orlando, FL 32801 – (407) 334-7505