Cheap Car Insurance Quotes for Business Use in West Virginia

You have surely seen all the ads from companies like Progressive and Liberty Mutual that guarantee the cheapest price, so drivers should just pick the one with the catchiest commercial, right?

It’s not quite that easy, unfortunately, as there are a ton of unknowns such as whether or not you own a home, the vehicle you drive, if you are a woman or a man, and any prior traffic citations. We will try to teach you about the things that cause high insurance rates and hopefully give you enough understanding to have a good beginning to your search for cheaper coverage.

Figuring out which companies offer the best car insurance rates for business use will require a little more work in order to find the lowest price quote.

Every car insurance company has their own unique process to set their prices, so we’ll go over the lowest cost car insurance companies in West Virginia. Keep in mind that West Virginia car insurance rates are impacted by many factors which can substantially decrease or increase the cost of your policy. Improving your credit score, having a teen driver, or getting a speeding ticket can trigger rate changes that can now make some companies more affordable than before.

Cheapest Insurance Rates for Business Use

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Erie normally has some of the most affordable car insurance rates in West Virginia at around $940 per year. The Hartford, State Auto, Westfield, and USAA would also make the list of some of the most economical West Virginia auto insurance companies.

As shown in the rates above, if you are a customer of Westfield and switched to The Hartford, you might see an annual premium reduction of approxmiately $244. Customers with USAA might save as much as $269 a year, and State Farm insureds might see rate reductions of $475 a year.

To find out how much you can save, click here to get quotes or visit any of the low-priced companies below.

Remember that these policy prices are averages across all types of drivers and the different vehicles they drive and do not factor in a price surcharge for business use. So the car insurance company that can offer you the best rate may not even be included in the above rate chart. That’s why you need to compare rates from multiple companies using your own individual information.

The model of vehicle that is being insured is probably the most important factor that determines whether or not you find low-priced car insurance for business use. Vehicles with higher performance characteristics, poor crash test ratings, or high incidents of liability claims will cost substantially more to insure than safer, lower-performance models.

The next lists outlines car insurance prices for some of the cheapest automobiles to insure in West Virginia.

Price data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and West Virginia minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Rates do not factor in vehicle garaging location which can modify prices considerably.

Data based on married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and West Virginia minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Table data does not factor in West Virginia location which can increase or decrease auto insurance rates substantially.

Premium data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and West Virginia minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Premium costs do not factor in zip code location which can affect coverage rates considerably.

The illustration below shows how different deductible levels can influence annual premium costs when searching for cheap insurance for business use. The premium estimates are based on a married female driver, comprehensive and collision coverage, and no discounts are taken into consideration.

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The data above shows that a 40-year-old driver could reduce rates by $250 a year by changing from a $100 deductible up to a $500 deductible, or save $378 by changing to a $1,000 deductible. Young drivers, like the age 20 example, could reduce their rates as much as $622 or even more by choosing larger deductibles on their policy.

When raising deductibles, it will be necessary to have enough in a savings account to offset the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.

Full coverage or liability only

Finding cheap car insurance for business use in West Virginia is the goal of most drivers, and a great way to reduce the cost of insurance is to not insure for full coverage. The chart below illustrates the difference between premium costs with liability coverage only compared to full coverage. Data assumes no tickets, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 3515,1469],[‘Age 30’, 1827,805],[‘Age 40’, 1783,745],[‘Age 50’, 1633,697],[‘Age 60’, 1587,685],[‘Age 70’, 1985,917]]);var options = {title: ‘Full Versus Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in West Virginia’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If we average the cost for all age groups, physical damage insurance costs an additional $2,055 per year more than buying just liability insurance. At some point, about every driver wonders if physical damage coverage is worth the money. There is no clear-cut formula of when to phase out full coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is about 10% or more of replacement cost minus your deductible, then it might be time to consider dropping full coverage.

For example, let’s pretend your vehicle’s replacement cost is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $7,000 after paying your policy deductible. If you are paying more than $700 a year for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.

There are some circumstances where buying only liability insurance is not a good plan. If you still owe a portion of the original loan, you have to carry full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.

Who has the cheapest insurance quotes for using your car for business?

You have many ways to compare car insurance prices in West Virginia, but the most popular methods are using a captive (or exclusive) agent such as Allstate or Auto-Owners, a non-exclusive or independent agent, or from a direct company like Geico or Progressive. All three ways can provide car insurance quotes, but car insurance buyers need to understand the differences in how they provide rate quotes.

Independent insurance agencies work for many companies and can get rate quotes from all of them. These types of agencies are usually affiliated with several companies and can provide multiple price quotes, which can help you get the best chance of saving money. If premiums increase, your policy can be easily switched to a new company and you can remain with the same agent.

An exlusive, or captive, agency is only able to write business for one company, two examples are an Allstate or Liberty Mutual agent. Exclusive agents generally are unable to provide multiple price quotes, so if prices are high they cannot provide alternatives.

Drivers who opt to buy car insurance direct do not use an exlusive or independent agent and instead shop from a direct company like Progressive. This option is good for families who have lower risk management needs and have a decent understanding of how their policy works.

Which method is best for finding cheap car insurance for business use in West Virginia? We wish we could say buying from a direct car insurance company results in the cheapest rates since there is no need to pay agent commissions, but unfortunately, that is not always true. It could also be said going through an independent agent guarantees the lowest rates since they can quote with many companies, but that is not necessarily true either. In many cases, the exclusive agents may have prices that cannot be met by either independent or direct companies.

Because of the variability of car insurance rates, the best way to get the lowest rate is to get quotes and compare the rates. We highly recommend getting quotes from all three to give yourself enough choices. For a list of companies offering online discounts in West Virginia, click here to view.

How to find budget-friendly insurance for business use

The list below summarizes many penny-pinching suggestions that can help drivers get lower-cost coverage.

• Good credit can save money
• Be a safe driver
• Choose a safer vehicle and pay lower rates
• Maintain a safe distance and avoid accidents
• Pay for smaller claims out-of-pocket
• Comparison shop at least once a year

That last piece of advice is highly crucial, as we hit on in this piece. Prices charged by auto insurers change a lot, so don’t hesitate to switch to a new company if a cheaper rate is available.

Having a favorite company is fine, but it’s not recommended if it’s costing you thousands of dollars over several years. It only take a few minutes to shop around and find cheaper car insurance for business use.