You have surely seen all the captivating ads from auto insurance companies like Nationwide, Farmers, and GEICO claiming enormous savings. So you should just choose any of them, right?
It’s not that easy, however, as there are a whole bunch of unknown aspects such as whether you are a man or a woman, when you were born, and whether you are married or single, that all have an effect on the price. The content below will cover the things that cause high insurance rates and will hopefully give you a jump start in finding the best auto insurance.
For your employer’s vehicle, one of the largest criteria that are used to help calculate car insurance rates is your address in Seattle. Areas with high crime rates or more dense population are more likely to have higher rates, whereas areas that tend to be more rural tend to receive slightly lower rates.
The table below rates the most costly cities in Washington for a company car to purchase a policy in. Seattle is ranked #5 with the yearly price of $1,391 for coverage, which is approximately $116 per month.
|Rank||City||Average Per Year|
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Premium amounts are comparative as vehicle location can revise prices considerably.
The car, truck, or SUV that is being insured is one of the primary factors when shopping for low-cost insurance for a company car. Vehicles with lower acceleration and performance, a great safety record, or a low likelihood of having liability claims will cost quite a bit less to insure than high performance models. The next table showcases car insurance costs for a selection of the most cost-effective automobiles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$1,554|
|Volkswagen Jetta S 2.5 Station Wagon||$1,684|
|Ford F-150 STX Super Cab 4WD||$1,780|
|Honda CR-V EX-L 4WD||$1,817|
|Chevrolet Malibu LS||$1,840|
|Jeep Grand Cherokee Laredo 2WD||$1,847|
|Toyota Tacoma Double Cab 4WD||$1,840|
|Ford Fusion S 4-Dr Sedan||$1,849|
|Ford Escape XLT 2WD||$1,905|
|Hyundai Elantra GLS 4-Dr Sedan||$1,936|
|Chevrolet Silverado LS Regular Cab 4WD||$1,956|
|Chevrolet Equinox LTZ AWD||$1,973|
|Honda Civic Hybrid 4-Dr Sedan||$1,982|
|Dodge Grand Caravan SE||$1,995|
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Data rating is based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Washington minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Price information does not factor in vehicle garaging location which can modify rates greatly.
Based upon the rates shown, you can assume that models like the Honda Accord, Volkswagen Jetta, and Ford F-150 are most likely going to be some of the cheaper vehicles to insure for your employer’s vehicle.
Buying cost effective auto insurance is easier said than done, and figuring out which company quotes the most affordable car insurance rates for a company car requires a bit more work.
Every auto insurer has a different process for determining prices, so first let’s look at the rankings for the car insurance companies with the overall cheapest rates in Seattle, WA.
Find the Cheapest Car Insurance in Washington
|Rank||Company||Cost Per Year|
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Capital may have some of the cheapest car insurance rates in Seattle at around $777 each year. Grange, Nationwide, PEMCO, and Travelers also make the cut as some of the more affordable Seattle, WA car insurance companies.
As shown in the table above, if you buy coverage from Travelers and switched to Grange, you could see an annual premium reduction of about $186. Insureds with The Hartford could save as much as $236 a year, and Mutual Enumclaw insureds might see rate reductions of $243 a year.
To compare your rates to other Washington insurance companies, click here to start a quote or visit any of the companies below.
These premiums are averaged across all ages of drivers and types of vehicles and do not take into consideration a specific zip code for a company car. So the insurer that can offer you the best price may not even be in the top 25 companies in the list above. That is why you need to compare rates from multiple companies using your own specific driver and vehicle information.
The illustration below shows how choosing a deductible can impact insurance rates when trying to find cheap insurance for a company car. The rates are based on a single male driver, full coverage, and no discounts are applied.
As shown above, a 50-year-old driver could save $338 a year by switching from a $100 deductible to a $500 deductible, or save $510 by selecting a $1,000 deductible. Even younger drivers, such as the Age 20 example, could drop their prices as much as $1,116 or even more by choosing a higher deductible. If you do decide to increase your deductibles, it will be important to have enough spare savings to satisfy the extra out-of-pocket expense associated with higher deductibles.
Careless Seattle drivers pay higher rates
In a perfect world, the ideal way to maintain the most affordable car insurance rates in Seattle for your employer’s vehicle is to drive attentively and avoid accidents and traffic violations. The illustration below demonstrates how traffic citations and at-fault fender-benders increase auto insurance costs for each different age category. The data is based on a married female driver, comp and collision included, $1,000 deductibles, and no discounts are applied to the premium.
The data in the chart shows the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,264. Get written up for two speeding tickets and the average cost swells to $1,787, an increase of $523 each year. Then add in two accidents along with the two speeding tickets and the yearly cost of car insurance for a company car goes up to an average of $3,989. That’s an increase of $2,725, or $227 per month, just for not keeping your driving record clean!
How to find cheaper insurance for a company car
Here are a few penny-pinching solutions that can help you buy cheaper coverage.
- Buy your auto and home insurance from the same company and save
- Buy vehicles with five-star safety ratings
- Increase your credit score
- Do not pay for comprehensive and collision coverage on older vehicles
- Increase the comprehensive and collision deductibles on your policy
- Claim-free drivers earn discounts
- Shop around for lower rates once a year
The last tip is remarkably necessary, as we pointed out in this article. Auto insurance prices change frequently, so don’t hesitate to buy from a different company if a better deal can be had.
Loyalty to a specific company is fine, but it’s not recommended if that loyalty ends up costing hundreds of dollars year after year. It only take a few minutes to compare rates and find cheaper car insurance for a company car in Seattle.
The Seattle, WA, insurance agents below can probably help you determine which car insurance policy is best, since some drivers aren’t sure which coverage they need and prefer to have some advice when shopping around for cheaper insurance for your employer’s vehicle. It can be difficult to find the cheapest car insurance policy, and getting professional guidance from a licensed agent can provide satisfaction knowing your coverage gives you suitable coverage if you ever need to use it. To locate a Seattle car insurance agency by location nearest to you, click the button after the list.
Melinda Elkin – State Farm Insurance Agent
7104 Greenwood Ave N – Seattle, WA 98103 – (206) 784-6560
Jeffrey Taylor – State Farm Insurance Agent
4850 Rainier Ave S – Seattle, WA 98118 – (206) 725-8008
9614 17th Ave SW – Seattle, WA 98106 – (206) 767-7444
Thury Foster – State Farm Insurance Agent
444 NE Ravenna Blvd #104 – Seattle, WA 98115 – (206) 985-2528
Ezra Teshome – State Farm Insurance Agent
1510 14th Ave – Seattle, WA 98122 – (206) 322-3910