Best Cheap Auto Insurance Quotes for a Company Car in Texas

The vehicle model on the policy is a large factor that determines whether or not you find the best cheap car insurance for a company car in Texas. Vehicles with economical engines, good safety features, or a low likelihood of liability claims will cost quite a bit less to insure than adrenaline junky models. The table below features insurance costs for the more afforable vehicles to buy insurance for.

Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Rates do not factor in specific Texas garaging location which can change insurance rates noticeably.

Looking at the rates, you can infer that cars like the Ford Escape, Toyota Prius, Chevrolet Traverse, and Ford F-150 are most likely going to be some of the most economical vehicles to insure for your employer’s vehicle.

Establishing which company offers the cheapest insurance rates for a company car involves a bit more work than just comparing rates from one or two companies. Each insurance company used slightly different criteria for determining prices, so we will examine the most budget-friendly insurance companies in Texas.

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Travelers normally has some of the lowest car insurance rates in Texas at around $1,021 per year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the lowest-priced Texas insurance companies.

As shown in the rates above, if you are currently insured with Germania Mutual and switched to USAA, you might realize a yearly price reduction of in the neighborhood of $198. Insureds with Esurance may save as much as $281 a year, and California Casualty policyholders might lower prices by $354 a year.

These estimates are averaged for all drivers and vehicles and and are not calculated with a price decrease for a company car. So the auto insurance company that fits your needs best may not even be included in the above list. That point stresses why you need to compare prices as often as possible using your own personal information and vehicle type.

For your employer’s vehicle, one of the more important factors that impact rate quotes is your address in Texas. Cities with larger populations like McAllen, Amarillo, and Dallas tend to have higher auto insurance costs, whereas areas that are not as densely populated have the enjoyment of a little cheaper coverage.

The next table ranks the priciest cities in Texas for a company car in which to buy car insurance.

Premium costs are approximated as vehicle location can increase or decrease rates considerably.

Discounts on the best cheap car insurance for a company car in Texas

Insurance companies that offer coverage for a company car may additionally offer discounts that could potentially reduce rates by as much as 40% or more if you qualify. Popular insurance companies and their offered discounts are:

• Farm Bureau offers premium reductions for safe driver, 55 and retired, multi-policy, renewal discount, and driver training.
• State Farm policyholders can earn discounts including Drive Safe & Save, accident-free, defensive driving training, driver’s education, safe vehicle, and good driver.
• Progressive has savings for multi-policy, homeowner, online signing, continuous coverage, online quote discount, and good student.
• Allstate has discounts for premier plus, resident student, farm vehicle, 55 and retired, auto/life discount, and defensive driver.
• Nationwide includes discounts for family plan, easy pay, business or organization, anti-theft, accident-free, and Farm Bureau membership.
• MetLife offers discounts for multi-policy, claim-free, good student, accident-free, good driver, defensive driver

The chart below illustrates the difference between auto insurance costs with and without discounts applied to the policy rates. The prices are based on a male driver, no claims or driving violations, Texas state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.

The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with accident-free, vehicle safety, anti-theft, marriage, defensive driving course, and claim-free discounts applied. In this example, the average amount saved each year on insurance for a company car is 28% or $496.

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Impact of violations and accidents on rates

The easiest method to score the most affordable insurance premiums in Texas for your employer’s vehicle is to pay attention while driving and not have accidents or get tickets. The chart below highlights how speeding tickets and accident claims can influence auto insurance rates for different ages of insureds. The information is based on a single male driver, comp and collision included, $250 deductibles, and no policy discounts are applied.

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In the chart above, the average cost of a car insurance policy in Texas per year with no accidents and a clean driving record is $2,000. Factor in one speeding ticket and the average cost hikes up to $2,252, an increase of $252 each year. Then add one accident along with the one speeding ticket and the 12-month cost of insurance for a company car jumps again to an average of $2,959. That’s an increase of $960, or $80 per month, just for being a less-than-perfect driver!

Progressive, State Farm, Geico, or Allstate: Which is best?

When shopping around for auto insurance for your employer’s vehicle, the four most popular companies are Progressive, State Farm, Geico, and Allstate. When combined, they have 48.5% of the car insurance market in the United States. The data below shows price, claims, and customer service ratings, as well as some optional coverages offered by each one.