The type of vehicle that needs insurance is a significant factor that determines the availability of the cheapest coverage for a company car. Vehicles with lower performance, excellent safety ratings, or a track record of few liability claims will cost much less to insure than adrenaline junky models. The table below estimates car insurance costs for a number of the most affordable automobiles to insure in California.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$1,124|
|Honda Accord LX-P 4-Dr Sedan||$1,130|
|Hyundai Elantra GLS Touring Station Wagon||$1,124|
|Dodge Grand Caravan SE||$1,261|
|Ford Escape XLT 2WD||$1,288|
|Honda Civic DX 4-Dr Sedan||$1,302|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,312|
|Chevrolet Equinox LS 2WD||$1,329|
|Chevrolet Malibu Hybrid||$1,339|
|Ford F-150 FX2 2WD||$1,353|
|Toyota Corolla XLE||$1,399|
|GMC Sierra 2500HD SLE Crew Cab 4WD||$1,423|
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Prices above based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Price estimates do not factor in your specific Long Beach, CA location which can raise or lower prices substantially.
Based upon the table data, we can expect models like the Honda CR-V, Honda Accord, Hyundai Elantra, Toyota Prius, and Dodge Grand Caravan are most likely to be some of the cheaper vehicles to insure for your employer’s vehicle.
Shopping around for cost effective car insurance is not always easy, and finding out which companies have the best insurance rates for a company car will involve more quotes for comparison. Each insurance company uses their own calculation to set their prices, so first let’s look at the rankings for the lowest cost insurance companies in Long Beach.
We do need to point out that California insurance rates are determined by lots of factors which can substantially decrease or increase the price of coverage. This price variability is why drivers need to shop around when trying to find affordable auto insurance rates for a company car. Insurance prices can be altered by many things and can change without notice, so the cheapest rate two years ago may now be an over-priced policy.
Find the Best Cheap Insurance in California
|Rank||Company||Cost Per Year|
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USAA normally has some of the lowest car insurance rates in Long Beach at around $1,155 each year. Wawanesa, CSAA, Century National, and Nationwide would also be considered some of the most economical Long Beach, CA car insurance companies.
As the example above demonstrates, if you are currently insured with Century National and switched to Wawanesa, you could earn yearly savings of approximately $33. Drivers with Nationwide may save as much as $69 a year, and 21st Century policyholders might reduce prices by as much as $222 a year.
Be aware that those prices are averaged for all drivers and vehicles in California and do not factor in an exact vehicle garaging location for a company car. So the auto insurance company that is best suited for you may not even be in the top 24 companies in the list above. That’s why you need to quote rates from many companies using your own specific driver information and vehicle.
One of the more important considerations that help determine car insurance rates is where you normally keep your vehicle in Long Beach. Areas with more people or more claims will most likely have higher rates, whereas areas that tend to be more rural tend to receive slightly lower rates.
The illustration below shows the highest-priced areas in California for a company car to buy car insurance in. Long Beach makes the list at #7 with a yearly premium of $1,610 for coverage, which is around $134 monthly.
|Rank||City||Average Per Year|
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Rates are approximated as the specific zip code location can increase or decrease coverage prices considerably.
Impact of careless driving on insurance rates
In a perfect world, the ideal way to maintain cheap insurance premiums for your employer’s vehicle is to drive attentively and avoid at-fault accidents and violations. The example below shows how traffic citations and accidents can raise insurance costs for different age groups. The premiums assume a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are taken into consideration.
The data above shows the average cost of a car insurance policy in California per year with no violations or accidents is $2,003. Factor in two speeding tickets and the average cost hikes up to $2,643, an increase of $640 each year. Now include two accidents along with the two speeding tickets and the yearly cost of insurance for a company car goes up to an average of $5,208. That’s an increase of $3,206, or $267 per month, just for not keeping your driving record clean!
The chart below demonstrates how deductibles can increase or decrease insurance costs when quoting cheap insurance for a company car. The premiums assume a single male driver, comprehensive and collision coverage, and no policy discounts are applied.
A 50-year-old driver could lower their car insurance rates by $362 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $546 by choosing a $1,000 deductible. Young drivers, like the age 20 example, could reduce their rates as much as $1,190 every year just by choosing larger deductibles.
When raising deductibles, it will be necessary to have spare funds to offset the extra out-of-pocket expense that is associated with using high deductibles.
How to get discounts on Long Beach insurance
Insurance providers that provide coverage for a company car may also give you price discounts that can reduce rates by as much as 35% or more if you are eligible for them. Companies and some of their more popular discounts can be read below.
- GEICO discounts include multi-vehicle, driver training, air bags, multi-policy, and membership and employees.
- Mercury Insurance policyholders can earn discounts including good student, annual mileage, multi-policy, ease of repair, and anti-theft.
- Farmers Insurance offers discounts for distant student, electronic funds transfer, early shopping, switch companies, bundle discounts, and teen driver.
- Auto-Owners Insurance offers premium reductions for company car, multiple vehicles, safe vehicle, safe driver, paid in full, multi-policy, and group or association.
- Liberty Mutual may offer discounts for teen driver discount, exclusive group savings, newly retired, preferred payment discount, hybrid vehicle, new graduate, and new move discount.
- SAFECO has savings for teen safe driver, bundle discounts, accident prevention training, anti-lock brakes, multi-car, anti-theft, and homeowner.
- Progressive offers discounts including online signing, homeowner, multi-policy, online quote discount, and good student.
- USAA includes discounts for safe driver, defensive driver, vehicle storage, driver training, military installation, annual mileage, and new vehicle.
The example below shows the difference between yearly insurance costs with and without some available policy discounts. The costs are based on a male driver, no violations or accidents, California state minimum liability limits, comp and collision included, and $250 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, passive restraint, accident-free, safe-driver, and defensive driving course discounts applied. With discounts applied, theamount saved on insurance for a company car is 28% or $640.
How to find low-cost car insurance for a company car
The list below shows many thrifty suggestions that can help you locate low-cost coverage.
- Clean up your credit rating
- Vehicles with safetly features generally cost less to insure
- Insure your home and auto with the same company
- Assess whether full coverage is needed
- Raise your physical damage coverage deductibles
- Claim-free drivers earn discounts
- Comparison shop frequently
That last piece of advice is certainly critical, as we stressed in this write-up. Car insurance rates in Long Beach can change significantly in a year, so don’t be hesitant to buy a policy from a new company if a better rate can be found.
Brand loyalty is great, but we do not recommend it if that loyalty ends up costing a lot of money. In just a couple of minutes you could compare prices and find cheaper car insurance for a company car.
If you would rather get some professional advice when shopping around for cheaper insurance for a company car, the agents shown below are a good start to provide answers to your questions and help you determine which coverage meets your needs best. To locate a Long Beach car insurance agency closest to you, click the link after the list or click here to compare rates now.
Susie Atwood – State Farm Insurance Agent
5624 E 2nd St – Long Beach, CA 90803 – (562) 434-5729
Jeff Morgan – State Farm Insurance Agent
4087 Long Beach Blvd – Long Beach, CA 90807 – (562) 595-6969
Vinny Bommaiah – State Farm Insurance Agent
6272 Pacific Coast Hwy Ste C – Long Beach, CA 90803 – (562) 439-8544
State Farm: Keir Jones
5150 E Colorado St – Long Beach, CA 90814 – (562) 433-5573
Nationwide Insurance: Caiquo Insurance Agency
4401 Atlantic Ave #214 – Long Beach, CA 90807 – (562) 548-7488