The words “low-cost” and “auto insurance” really shouldn’t be used in the same sentence, specifically when shopping around for the best coverage prices for a company car. Because it’s not cheap, let’s go over a few of the factors that significantly impact auto insurance premiums, and find out if you can cut the cost of your next policy.
For your employer’s vehicle, one of the big considerations that aid in calculating the cost of insurance is where you live. Areas with a lot of weather claims or more people tend to have more expensive auto insurance rates, whereas areas with lower crime rates and fewer weather claims have the luxury of lower rates.
The next table rates the most expensive areas in Texas for a company car to purchase a policy in. Corpus Christi shows up at #23 with an annual rate of $1,572 for the average insured, which is around $131 per month.
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Premium amounts are estimated as specific Corpus Christi garaging address can impact coverage rates noticeably.
Comparing quotes for reasonably-priced car insurance is not the easiest thing to accomplish, and deciding which company has the most affordable auto insurance rates for a company car may require even more diligence.
Each insurer uses different criteria for filing rates in each state, so let’s begin by examining the overall cheapest auto insurance companies in Corpus Christi.
Find the Best Cheap Insurance in Texas
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,235|
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Travelers may have some of the most affordable car insurance rates in Corpus Christi at around $1,041 annually. This is $863 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty also rank well as some of the cheaper Corpus Christi, TX car insurance companies.
As depicted above, if you are a customer of Germania Mutual and switched to USAA, you might realize an annual premium reduction of about $149. Policyholders with California Casualty could save as much as $287 a year, and Esurance insureds might see rate reductions of $326 a year.
To see if you’re overpaying, click here to start a quote or visit several of the following companies.
Bear in mind that those premiums are averages across all drivers and vehicles and and are not calculated with a specific location for a company car. So the car insurance company that can offer you the best rate may not even be in the list above. That’s why you need to get auto insurance quotes using your own specific driver and vehicle information.
The vehicle model you are buying coverage for is one of the largest factors when comparison shopping for low-priced insurance for a company car. Vehicles with limited top-end speed, excellent safety ratings, or a positive history of liability claims will cost quite a bit less to insure than adrenaline junky models. The next table showcases coverage costs for a selection of the most cost-effective vehicles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape Limited 4WD||$956|
|Honda Accord EX 4-Dr Sedan||$1,014|
|Hyundai Elantra GLS Touring Station Wagon||$1,024|
|Dodge Grand Caravan Hero||$1,046|
|Toyota Tacoma Double Cab 4WD||$1,067|
|Ford Focus SES 4-Dr Sedan||$1,082|
|Toyota Corolla S||$1,101|
|Chevrolet Impala LTZ||$1,109|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,101|
|Honda CR-V EX-L 4WD||$1,112|
|Hyundai Sonata GLS 4-Dr Sedan||$1,128|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$1,123|
|Ford F-150 XL Super Cab 4WD||$1,138|
|Dodge Ram Quad Cab ST 4WD||$1,142|
|Toyota RAV4 Sport 2WD||$1,200|
|Ford Explorer Eddie Bauer AWD||$1,221|
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Prices do not factor in the specific area where the vehicle is garaged which can lower or raise insurance rates significantly.
Based upon the table data, makes and models like the Ford Escape, Honda Accord, and Hyundai Elantra are most likely going to be a few of the cheapest vehicles to insure for your employer’s vehicle.
Illustration showing the impact of accidents and violations
The easiest way to find low auto insurance prices in Texas for your employer’s vehicle is to be an attentive driver and not receive tickets or have accidents. The chart below demonstrates how citations and at-fault fender-benders can raise insurance costs for each different age category. The rates are based on a married male driver, full coverage, $1,000 deductibles, and no additional discounts are factored in.
The data above shows the average cost of auto insurance in Corpus Christi per year with no accidents or violations is $1,472. Add in one speeding ticket and the average cost rises to $1,694, an increase of $221 each year. Then add in one accident along with the one speeding ticket and the annual cost of auto insurance for a company car increases to an average of $2,308. That’s an increase of $836, or $70 per month, just for not being a responsible driver!
Get discounts on Corpus Christi insurance
Car insurance companies that provide policies for a company car may provide policy discounts that could lower prices by as much as 40% or more if you are eligible. The best auto insurance companies and their offered discounts are detailed below.
- State Farm has discounts for passive restraint, driver’s education, anti-theft, multiple policy, good driver, and student away at school.
- GEICO offers premium reductions for daytime running lights, membership and employees, emergency military deployment, driver training, and anti-theft.
- Liberty Mutual has savings for hybrid vehicle, multi-policy, multi-car, exclusive group savings, teen driver discount, and new move discount.
- The Hartford offers discounts including defensive driver, anti-theft, air bag, good student, driver training, and bundle.
- MetLife may include discounts for good driver, claim-free, accident-free, defensive driver, good student, multi-policy
- Progressive offers discounts for online signing, multi-policy, continuous coverage, good student, homeowner, and multi-vehicle.
The information below illustrates the comparison of insurance premiums with and without discounts being applied to the rates. Data assumes a male driver, no accidents or driving violations, Texas state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with defensive driving course, marriage, anti-theft, accident-free, passive restraint, and safe-driver discounts applied. With discounts applied, theaverage amount saved on auto insurance for a company car is 28% or $599.
Why are you paying too much for Corpus Christi car insurance?
Corpus Christi auto insurance rates are based on many factors that will increase or decrease the cost of having a policy. Improving your credit rating, buying a different home, or getting a couple of tickets may prompt premium changes that can now make some companies more affordable than before.
Not only may things change on your end, but insurance companies change prices every year or even multiple times each year to adjust for gains or losses. Significantly higher claims can result in additional price hikes, while less frequent claims can produce more affordable Corpus Christi car insurance rates.
To help illustrate this point, the data below shows rates for the cheapest car insurance in Corpus Christi, TX for a 40-year-old male driver with no accidents or violations, and a decent credit rating. If we estimate prices based on his current rating profile, Travelers offers the best car insurance rates in Corpus Christi at $1,078 each year. This is $826 less than the average policy premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are the rest of the top five cheapest Corpus Christi, TX auto insurance companies.
Let’s now give the driver from above a claim, bad credit, and a speeding ticket. Since each auto insurance company has a unique approach to set policy rates, getting updated rate quotes may result in a substantially altered list of the cheapest companies as shown below.
Mercury now has the lowest car insurance rate in Corpus Christi with State Farm, Nationwide, Safe Auto, and USAA now being in the top five. This demonstrates why Corpus Christi drivers need to spend some time comparing rates to get the most affordable auto insurance quotes for a company car. Car insurance prices are impacted by many things and change substantially, so the best option a year ago may now cost much more than other companies.
How to find the cheapest insurance for a company car
It’s not impossible to find cheaper rates, and here are some penny-pinching solutions that can help Texas drivers buy lower-cost auto insurance.
- Good credit scores may lower your rates
- Drop full coverage on older vehicles
- Buying home and auto insurance together can earn discounts
- Buy a vehicle with excellent safety ratings
- At-fault accidents can raise rates significantly
- Shop around once a year for cheaper rates
The last tip in the list is especially important, as was noted in this article. Coverage rates in Corpus Christi fluctuate constantly, so don’t be tentative to buy from a different company if a more affordable price is available.
Many drivers tend to have loyalty to a certain company, but it isn’t a good idea if that stubbornness costs you thousands of dollars over the life of your policy. If you have a few minutes, compare rates and find cheaper auto insurance for a company car.