Cheap Auto Insurance for a Company Car in Florida

Cheap Auto Insurance for a Company Car in Florida

Finding out which companies have the lowest-priced car insurance rates for a company car involves more time in order to find the lowest price.

Every insurance provider has a proprietary formula to set premium rates, so let’s take a look at the most competitive car insurance companies in Florida. It’s important to understand that Florida car insurance rates are impacted by many factors which can significantly increase or decrease the cost of your policy. Simply turning a year older, buying a new vehicle, or getting caught speeding may prompt premium changes resulting in some companies being cheaper than competitors.

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Cheapest insurance companies in Florida
Rank Company Cost Per Year
1 USAA $957
2 Electric $1,712
3 Amica $1,764
4 Progressive $1,793
5 Travelers $1,888
6 Allied $1,945
7 Mercury $1,992
8 State Farm $2,068
9 Esurance $2,082
10 GEICO $2,086
11 Auto-Owners $2,171
12 21st Century $2,373
13 Allstate $2,411
14 Windhaven Insurance $2,627
15 Hanover $2,934
16 MetLife $2,958
17 Safeco $2,987
18 Liberty Mutual $3,009
19 United Automobile $3,457
20 Direct General $3,942
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USAA has some of the cheapest car insurance rates in Florida at around $957 annually. Electric, Amica, Progressive, and Travelers also rank well as some of the most economical Florida insurance companies.

As shown above, if you currently have coverage with Electric and switched to USAA, you could realize savings of upwards of $755. Florida drivers with Amica might save as much as $807 a year, and Progressive insureds might cut rates by $836 a year.

To get a quick, customized rate comparison, click here to start a quote or visit any of the companies below.

These estimates are averages for all types of insureds and vehicles and do not take into consideration a rate decrease for a company car. So the company that fits your needs best may not even be shown in the list of companies shown earlier. That points out the importance of why you need to compare prices as often as possible using your own driver data and vehicle information.

When shopping for cheaper car insurance for your employer’s vehicle, one of the many components that aid in calculating car insurance rates is where your car is garaged. Urban areas that are densely populated like Hialeah, Miami, and Miramar tend to pay more, whereas areas with less congestion receive better rates.

The table below displays the most costly cities in Florida for a company car to purchase a policy in.

Florida cities ranked by car insurance cost
Rank City Average Per Year
1 Hialeah $3,595
2 Miami Gardens $3,181
3 Miami $3,145
4 Miami Beach $2,953
5 Miramar $2,629
6 West Palm Beach $2,625
7 Fort Lauderdale $2,550
8 Coral Springs $2,549
9 Pompano Beach $2,543
10 Tampa $2,532
11 Hollywood $2,526
12 Davie $2,448
13 Pembroke Pines $2,407
14 Brandon $2,298
15 St. Petersburg $2,196
16 Clearwater $2,194
17 Spring Hill $2,123
18 Orlando $2,069
19 Port St. Lucie $1,975
20 Jacksonville $1,960
21 Cape Coral $1,917
22 Lakeland $1,827
23 Palm Bay $1,803
24 Tallahassee $1,748
25 Gainesville $1,696
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Price information shown is comparative as the garaging address in Florida can alter rates significantly.

The vehicle you are seeking coverage for is probably the largest consideration when comparison shopping for cheap auto insurance for a company car in Florida. Vehicles with economical engines, 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 lists below presents insurance premiums for a number of the most cost-effective automobiles to insure in Florida.

Auto Insurance Rates for Popular Cars in Florida
Make, Model, and Trim Level Annual Cost Semi-Annual Cost Monthly Cost
Chevrolet Malibu LS $1,080 $540 $90
Ford Fusion S 4-Dr Sedan $1,080 $540 $90
Honda Civic VP 4-Dr Sedan $1,112 $556 $93
Hyundai Elantra SE Touring Station Wagon $994 $497 $83
Hyundai Sonata Limited 4-Dr Sedan $1,234 $617 $103
Kia Optima EX $1,234 $617 $103
Nissan Altima 3.5 SR 4-Dr Sedan $1,158 $579 $97
Toyota Corolla XRS $1,158 $579 $97
Volkswagen Jetta SE 2.5 Station Wagon $1,072 $536 $89
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Table data represents married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Rate quotes do not factor in garaging location in Florida which can affect rates significantly.

Car Insurance Rates for Popular SUVs and Crossovers in Florida
Make, Model, and Trim Level Annual Cost Semi-Annual Cost Monthly Cost
Acura RDX Technology Package 2WD $1,072 $536 $89
BMW X5 M AWD $1,420 $710 $118
Cadillac Escalade 2WD $1,408 $704 $117
Chevrolet Traverse LT 2WD $960 $480 $80
Ford Escape XLS 4WD $914 $457 $76
Ford Expedition Limited 2WD $1,072 $536 $89
Ford Explorer Eddie Bauer 4WD $1,102 $551 $92
GMC Acadia SLT AWD $1,102 $551 $92
Honda CR-V LX 4WD $914 $457 $76
Honda Pilot EX-L 2WD $1,102 $551 $92
Hyundai Tucson Limited 2WD $1,080 $540 $90
Jeep Grand Cherokee Laredo 2WD $1,080 $540 $90
Nissan Pathfinder S 2WD $1,000 $500 $83
Toyota Highlander 4WD $1,102 $551 $92
Toyota RAV4 Limited 4WD $1,080 $540 $90
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Table data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Price estimates do not factor in your specific Florida location which can impact coverage prices considerably.

Car Insurance Rates for Popular Pickup Trucks in Florida
Make, Model, and Trim Level Annual Cost Semi-Annual Cost Monthly Cost
Chevrolet Silverado Crew Cab Hybrid 4WD $1,238 $619 $103
Dodge Ram 3500 Mega Cab SLT 4WD $1,608 $804 $134
Dodge Ram Crew Cab TRX 4WD $1,258 $629 $105
Ford F-150 XL Regular Cab 2WD $944 $472 $79
Ford F-250 XL Super Cab 4WD $1,304 $652 $109
GMC Canyon SLT Ext Cab 4WD $1,102 $551 $92
GMC Sierra 2500HD SLE Extended Cab 2WD $1,290 $645 $108
GMC Sierra 3500HD SLT Extended Cab 4WD $1,384 $692 $115
GMC Sierra SLE Regular Cab 2WD $1,080 $540 $90
Toyota Tundra Limited Crew MAX 2WD $1,234 $617 $103
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Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Premium costs do not factor in vehicle garaging location which can alter coverage prices considerably.

Florida car insurance companies ranked

Ending up with the top insurer can be difficult considering how many different companies there are to choose from in Florida. The information shown next may help you pick which auto insurers you want to consider putting your business with. These ratings are for insurance companies that insure vehicles in the majority of U.S. states, so smaller companies that only insure vehicles in Florida are not taken into consideration for these rankings.

Florida Car Insurance Company Rankings
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
Mercury Insurance 97 96 88 89% A+ 93.4
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
Titan Insurance 86 82 92 86% A+ 86.5
21st Century 86 82 90 84% A 86.4
Liberty Mutual 79 87 95 78% A 85.3
Farmers Insurance 77 80 80 84% A 80.3
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Data Source: Insure.com Best Car Insurance Companies

Ideas for buying more affordable car insurance for a company car

The list below details a few thrifty solutions that can help Florida drivers find the cheapest auto insurance.

  • Buying home and auto insurance together can earn discounts
  • Lower rates by purchasing a safer vehicle
  • Don’t have frequent claims
  • Avoid speeding and other traffic citations and pay less
  • Remain accident-free and save
  • Comparison shop at least every other year

The last suggestion is incredibly significant, as we discussed in the prior article. Auto insurance prices change frequently, so don’t be tentative to change insurance companies if a cheaper price is available. Having a favorite company is fine, but it’s not a great idea if your bullheadedness ends up costing you a small fortune year after year. Now is a great time to compare rates to find cheaper auto insurance for a company car.

Cheapest insurance quotes for your employer’s vehicle

You have a lot of ways to find cheaper car insurance in Florida, but the most preferred methods are through a captive (or exclusive) agency such as State Farm or Auto-Owners, a non-exclusive or independent agent, or from a direct company like Progressive. They all have the same basic principle, but buyers should know the differences in how they work.

Independent agents can place your business with multiple companies and can provide price quotes from every one. These types of agencies possess the freedom to quote rates with many companies, which can help you get a better chance of finding cheaper coverage. If they find a cheaper price, your policy can be moved which is easy for the insured.

Exclusive agents are contracted to one company, two of the more popular are an Allstate or State Farm agent. These guys and gals cannot quote prices from more than just one company, so if the price isn’t competitive there isn’t much they can do.

The final way is buying direct, which means you bypass local insurance agents and buy buying direct from a company like Progressive or Geico. This car insurance option may be a decent choice drivers who do not need advice for risk management and have an above average understanding of what specific coverages they need.

So what is the best way for finding cheap auto insurance for a company car in Florida? It would be simple to say buying direct results in the cheapest price because you bypass the agent, but in reality, that is not the case. We could also assume that an independent agent is the best way to save since they can quote with many companies, but that is not accurate either. And often times, exclusive agents may have very competitive prices that are the cheapest in Florida.

Because there are so many factors that make up car insurance rates, really the best method to not overpay for car insurance is to obtain price quotes and compare them. Smart shoppers will get price quotes from all three to have the best rate selection. We compiled a list of companies with some of the cheapest online rates that you can click here to view.