Comparing quotes for low-cost auto insurance is not most people's favorite thing to do, and deciding which company has the cheapest car insurance rates for a company car in Florida calls for even more rate comparisons. Each company uses different criteria for setting rates, so let's rank the overall cheapest car insurance companies in Florida.
It's important that readers know that Florida car insurance rates are impacted by many things that will increase or decrease the price you have to pay. Improving your credit score, adding a teenager to your policy, or getting a reckless driving citation may cause policy rate changes resulting in some rates now being more expensive than others.
Lowest Insurance Price Quotes in Florida
|Rank||Company||Cost Per Year|
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USAA normally has some of the lowest car insurance rates in Florida at around $977 annually. Electric, Amica, Progressive, and Mercury also make the cut as some of the cheapest Florida insurance companies.
As shown in the table above, if you are insured with Amica and switched to USAA, you could see savings of in the vicinity of $787. Insureds with Progressive could save as much as $870 a year, and Mercury customers might lower prices by $937 a year.
Be aware that those prices are averaged across all insureds and vehicles and do not take into consideration a price discount for a company car. So the company that fits your age and vehicle best may not even be in the top 21 companies shown above. That illustrates why you need to compare rates from as many companies as possible using your own individual information.
The vehicle model you are trying to insure is one of the largest considerations that determines the availability of low-cost insurance for a company car. Vehicles with lower performance, an excellent safety record, or a track record of few liability claims will cost significantly less to insure than higher performance models. The next list outlines insurance costs for a number of the most affordable vehicles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape Limited 2WD||$1,238|
|Jeep Wrangler Rubicon 4WD 2-Dr||$1,360|
|Hyundai Elantra GLS Touring Station Wagon||$1,385|
|Honda CR-V LX 4WD||$1,392|
|Ford Edge SE AWD||$1,405|
|Honda Odyssey EX W/Rear Entertainment||$1,413|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,460|
|Ford Focus SES 4-Dr Sedan||$1,480|
|Chevrolet Impala LTZ||$1,508|
|Toyota Corolla LE||$1,518|
|Chevrolet Equinox LTZ AWD||$1,535|
|Chevrolet Malibu LS||$1,640|
|Toyota RAV4 Sport 4WD||$1,645|
|Chevrolet Silverado LT Extended Cab 4WD||$1,640|
|Dodge Grand Caravan CV||$1,665|
|Ford Explorer XLT 2WD||$1,673|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,742|
|Ford Fusion Sport 4-Dr Sedan||$1,755|
|Nissan Altima 2.5 4-Dr Sedan||$1,757|
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Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Premium amounts do not factor in vehicle location which can raise or lower price quotes substantially.
Based upon the rates shown, cars like the Ford Escape, Toyota Prius, Jeep Wrangler, and Hyundai Elantra are going to be a few of the cheaper vehicles to insure for your employer's vehicle.
The example below shows how choosing a deductible can affect annual premium costs when trying to find cheap insurance for a company car in Florida. The premium estimates are based on a married female driver, comp and collision included, and no discounts are applied.
In the chart above, a 40-year-old driver could reduce rates by $286 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $432 by selecting a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could potentially save as much as $708 or even more by using a higher deductible. When raising deductibles, it will be important to have plenty of savings on hand to allow you to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Types of discounts on Florida car insurance
Insurers that sell policies for a company car may also give you policy discounts that may potentially lower prices by as much as 35% or more if you are eligible to receive them. Companies and some of the premium reductions they offer are outlined below.
- State Farm may have discounts that include Drive Safe & Save, driver's education, safe vehicle, good student, and multiple autos.
- GEICO may include discounts for anti-lock brakes, defensive driver, emergency military deployment, military active duty, seat belt use, and multi-policy.
- Liberty Mutual offers discounts including preferred payment discount, good student, multi-car, hybrid vehicle, and newly married.
- The Hartford discounts include anti-theft, air bag, bundle, good student, and driver training.
- MetLife has discounts for multi-policy, claim-free, good student, defensive driver, good driver, accident-free
- Progressive may offer discounts for online quote discount, online signing, continuous coverage, multi-vehicle, good student, multi-policy, and homeowner.
The illustration below visualizes the comparison of insurance costs with and without discounts applied to the policy premium. The rates are based on a female driver, no claims, a clean driving record, Florida state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with marriage, multiple policy, homeowner, vehicle safety, passive restraint, and multiple vehicle discounts applied. In this example, the average savings per year on car insurance for a company car is 28% or $844.
Florida car insurance companies ranked
Selecting the right insurer can be difficult considering how many companies there are in Florida. The company information shown next can help you analyze which insurers to look at when comparing rates. The ratings below include the largest companies in America, so companies with more of a regional focus are not taken into consideration for the list.
Top 10 Major Auto Insurance Providers in Florida Ranked by Value
- Mercury Insurance
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- The General
- 21st Century
Top 10 Major Auto Insurance Providers in Florida Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance