How Much Does Auto Insurance Cost for a Company Car in Missouri?

Wouldn’t it be awesome if we could look into our crystal ball and tell you the one company that has the lowest rates for a company car? Unfortunately, it’s just not that easy, as there are a whole bunch of unknowns like if you own a home, what coverage limits you need, and the amount of physical damage deductibles, that all impact the cost of your policy. The content below will cover the best ways to find cheap auto insurance and should give you some help in finding cheaper rates.

One of the key criteria that influence the policy price is where you keep your vehicle. Cities with larger populations or higher claims like Saint Louis, University City, and Raytown tend to pay more, whereas areas with fewer weather claims and lower vehicle theft rates have the enjoyment of a little cheaper coverage.

The following table lists the most expensive areas in Missouri for a company car to buy an auto insurance policy in.

Rate quotes are estimated as specific Missouri zip code can impact coverage rates greatly.

Deciphering which companies have the most affordable car insurance rates for a company car calls for a bit more effort in order to find the lowest price. Every car insurance company has a different process to determine premium rates, so let’s take a look at the overall cheapest car insurance companies in Missouri.

It’s important to know that Missouri car insurance rates are influenced by many factors that will increase or decrease the cost of your policy. Improving your credit score, having a teen driver, or getting a ticket for careless driving may prompt premium changes that may make certain companies cheaper than competitors.

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google.charts.setOnLoadCallback(drawMOT5qcibChart);function drawMOT5qcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }], [‘USAA’, 668, ‘#33CF8F’], [‘The Hartford’, 785, ‘#2AAC77’], [‘Electric’, 841, ‘#238F63’], [‘Allied’, 841, ‘#1D7752’], [‘Auto-Owners’, 1027, ‘#186344’]]);var options = {title: ‘Most Affordable Auto Insurance Companies in Missouri’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1127,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibt5cic’));chart.draw(view, options);}

USAA normally has some of the most affordable car insurance rates in Missouri at around $668 each year. The Hartford, Electric, Allied, and Auto-Owners also make the cut as some of the lowest-priced Missouri car insurance companies.

As shown in the rates above, if you currently buy coverage from Allied and switched to The Hartford, you might achieve a yearly price reduction of around $56. Drivers with Auto-Owners could save as much as $242 a year, and Travelers insureds might reduce rates by $253 a year.

Be aware that those premium estimates are averaged for all drivers and vehicles and and are not figured with a price discount for a company car. So the company that fits your age and vehicle best may not even be featured in the list of companies shown earlier. That points out the importance of why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.

We all have different tastes in cars, and the vehicle that needs insurance is one of the primary factors when looking for cheap car insurance for a company car in Missouri. Vehicles with high performance features, poor safety ratings, or a high likelihood of having liability claims will cost significantly more to insure than safer models.

The lists below shows car insurance rates for some of the cheaper automobiles to buy insurance for.

Prices based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Missouri minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Price estimates do not factor in vehicle garaging location which can alter insurance rates greatly.

Data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Missouri minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Rate quotes do not factor in specific location which can increase or decrease auto insurance rates noticeably.

Data rating is based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Missouri minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Premium costs do not factor in vehicle garaging location which can raise or lower premiums noticeably.

The example below highlights how deductible choice can impact annual premium costs when researching cheap insurance for a company car. The data assumes a single male driver, comprehensive and collision coverage, and no policy discounts are applied.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 2621,2391,2139,1903],[‘Age 30’, 1365,1259,1133,1011],[‘Age 40’, 1353,1239,1107,983],[‘Age 50’, 1229,1127,1011,897],[‘Age 60’, 1187,1091,979,873],[‘Age 70’, 1437,1325,1201,1083]]);var options = {title: ‘Impact of Deductible Levels on Insurance Premiums in Missouri’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

The data above shows that a 50-year-old driver could pocket $218 a year by switching from a $100 deductible up to a $500 deductible, or save $332 by changing to a $1,000 deductible. Even younger drivers, like the Age 20 category, could drop their prices as much as $718 annually by choosing larger deductibles on their policy. When insureds make the decision to increase the deductibles on their policy, it will now be necessary to have enough savings set aside to enable you to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.

Full coverage rates vs. liability-only in Missouri

Finding cheap car insurance for a company car in Missouri is important to the majority of people, and a great way to pay lower rates for insurance is to only buy liability insurance. The chart below shows the comparison of auto insurance costs with full phyical damage coverage and with liability coverage only. Data assumes a clean driving record, no claims, $1,000 deductibles, single marital status, and no discounts are taken into consideration.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 1903,813],[‘Age 30’, 1011,451],[‘Age 40’, 983,417],[‘Age 50’, 897,391],[‘Age 60’, 873,385],[‘Age 70’, 1083,511]]);var options = {title: ‘Comparison of Rates for Full Coverage and Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Missouri’,minValue: 0,format: ‘$###,###’},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);}

As an average for all age groups, comp and collision coverage costs an extra $1,125 per year more than just insuring for liability. Many drivers may wonder if paying for full coverage is a waste of money. There is no written rule for dropping full coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.

There are some situations where dropping physical damage coverage is not a good idea. If you still have a loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not buy liability only.

Tips to find economical car insurance for a company car

Lowering your rates is not difficult, and here are some of the recommended thrifty suggestions that can help you get low-cost coverage.

• Avoid speeding and other traffic citations and pay less
• Vehicles with good safety ratings have lower liability rates
• Avoid accidents
• If your vehicles are older, consider dropping full coverage
• Good credit scores may lower your rates
• Increase the comprehensive and collision deductibles on your policy
• Ensure you have the best deal by shopping around regularly

The final tip is notably vital, as we emphasized in this article. Auto insurance rates can change significantly in a year, so you should be ready to change to a new company if a better rate can be found.

Many drivers tend to have loyalty to a certain company, but it isn’t a good idea if that faithfulness ends up costing you potentially thousands of dollars a year. Take a few minutes and shop around and find cheaper insurance for a company car.

Who has the cheapest insurance quotes for your employer’s vehicle?

Due to technology, there are many ways to get cheap car insurance quotes in Missouri, but the three most common methods are using a non-exclusive or independent agent, a captive (or exclusive) agency like Allstate or Auto-Owners, or from a direct company like Geico. They all have the same basic principle, but they differ in how they give price quotes.

Independent agencies are appointed by several companies and can quote your policy with every one. They do not sell for just one brand and can provide you with more rates, which can help you get improved chances of finding a lower rate. If the agent locates a cheaper price, you can get a different policy which prevents you from having to find an new insurance agent.

An exclusive ageny is usually restricted to a single insurance company, two popular examples being an Auto-Owners or State Farm agent. Exclusive agents normally do not have the ability to give you multiple price quotes, which necessitates shopping around.

The third popular method of shopping for car insurance is direct, which means you skip local agents and instead buy direct from companies such as Progressive or Esurance. This car insurance option is good for families who do not have a lot of assets and know more than average about how their policy works.

So which of the methods works best for finding cheap car insurance for a company car in Missouri? It would be obvious to point out buying from a direct car insurance company yields the cheapest rates because there is no agent taking a commission, but that is not always the case. We could also say that buying from an independent agent saves the most money because you have more choices, but that is not necessarily true either. For the right applicant, the exclusive agents have price quotes that are impossible to beat.

Since car insurance companies use so many rating factors, the only true way to buy the cheapest coverage is to get quotes and compare the rates. If you have the time, get price quotes all three ways in order to have the best selection to choose from. For a list of car insurance companies with low rates, click here to view.