Figuring out which company offers the most affordable insurance rates for a company car will take more time in order to find the most economical policy.
Every insurance company uses their own method for determining rates in each state, so we’ll go over the insurance companies that tend to have lower prices in Sacramento, CA. It’s a good idea to be aware that Sacramento insurance rates are influenced by many factors which can substantially change the policy price. Getting older, buying a new vehicle, or having an accident can trigger price changes that can cause some rates to be much cheaper than others.
Best Car Insurance Prices in California
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,143 |
| 2 | Wawanesa | $1,192 |
| 3 | Century National | $1,226 |
| 4 | CSAA | $1,234 |
| 5 | Nationwide | $1,263 |
| 6 | 21st Century | $1,325 |
| 7 | Grange | $1,477 |
| 8 | Progressive | $1,496 |
| 9 | Mercury | $1,503 |
| 10 | Allstate | $1,543 |
| 11 | GEICO | $1,559 |
| 12 | Allied | $1,588 |
| 13 | The Hartford | $1,623 |
| 14 | MetLife | $1,638 |
| 15 | State Farm | $1,733 |
| 16 | Unitrin | $1,750 |
| 17 | Esurance | $1,756 |
| 18 | Travelers | $1,806 |
| 19 | Bristol West | $1,831 |
| 20 | Farmers | $1,966 |
| Quote Your Rates Go | ||
USAA generally has some of the cheapest car insurance rates in Sacramento at around $1,143 a year. This is $508 less than the average premium paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide would also make the list of some of the cheapest Sacramento, CA insurance companies.
As depicted above, if you currently have a policy with CSAA and switched to Wawanesa, you could see a yearly price reduction of around $42. Customers with Nationwide might save as much as $71 a year, and 21st Century policyholders might see rate reductions of $133 a year.
To see if you’re overpaying, click here to start a quote or feel free to get quotes from the companies below.
Bear in mind that those premiums are averages across all ages of drivers and types of vehicles and and are not figured with an exact location for a company car. So the auto insurance company that is most affordable for your situation may not even be in the top 24 companies shown above. That’s why you need to get car insurance quotes using your own driver information and specific vehicle type.
The vehicle model that is being insured is a significant factor when shopping around for the best cheap auto insurance for a company car. Vehicles with more horsepower, a lack of modern safety features, or a track record of large liability claims will cost substantially more to insure than more modest models. The next list estimates car insurance costs for some of the most cost-effective vehicles to insure.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $1,169 |
| Honda Accord LX 4-Dr Sedan | $1,272 |
| Toyota Prius | $1,295 |
| Honda CR-V LX 2WD | $1,303 |
| Jeep Grand Cherokee Laredo 2WD | $1,380 |
| Ford Explorer XLT 2WD | $1,427 |
| Honda Odyssey EX-L W/Rear Entertainment | $1,454 |
| Toyota Tacoma X-Runner 2WD | $1,459 |
| Chevrolet Silverado LT Regular Cab | $1,477 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $1,483 |
| Ford Edge SEL 2WD | $1,509 |
| Dodge Grand Caravan SXT | $1,535 |
| Chevrolet Equinox LT 2WD | $1,543 |
| Chevrolet Malibu LS | $1,551 |
| Toyota RAV4 Limited 4WD | $1,543 |
| Compare Cheap Rates Go | |
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Price estimates do not factor in specific Sacramento, CA garaging location which can change premium rates considerably.
By looking at the data, we can presume that models like the Ford Escape, Honda Accord, Toyota Prius, and Honda CR-V should be some of the more affordable vehicles to insure for your employer’s vehicle.
The example below shows how choosing a deductible can change insurance prices when getting quotes for cheap insurance for a company car. The premiums assume a single female driver, comp and collision included, and no discounts are taken into consideration.
A 40-year-old driver could cut expenses by $350 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $530 by using a $1,000 deductible. Youthful drivers, like the Age 20 category, could shave up to $888 every year by choosing larger deductibles on their policy.
If you do raise deductibles, it is a good idea to have spare funds to offset the extra out-of-pocket expense, which deters some people from using high deductibles.
Price comparison of only insuring for liability
Reducing premiums for insurance is important to the majority of people, and one good way to reduce the cost of insurance for a company car is to not buy full coverage. The illustration below shows the comparison of annual premium costs with full physical damage coverage compared to only buying liability only. The rate quotes are based on no violations or claims, $100 deductibles, drivers are single, and no discounts are factored in.
If all age groups are averaged, physical damage insurance costs $3,444 per year more than just insuring for liability. Many drivers may wonder if full coverage is worth the money. There is no exact formula for dropping physical damage coverage, but there is a general convention. If the annual cost of having full coverage is more than about 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
There are some cases where only buying liability is not recommended. If you still have a loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not drop full coverage.
How to find more affordable insurance for a company car
The list below details some of the better thrifty ideas that can help you buy low-cost car insurance.
- Accidents can significantly increase rates
- Do not pay for full coverage if not needed
- Improve your credit rating
- Buying car and homeowners insurance together can save money
- Buy a car with high safety ratings
- Compare prices frequently to find the best deal
That last piece of advice is especially crucial, as we stressed in this article. Car insurance rates change frequently, so don’t hesitate to change to a new company if a cheaper rate is available.
Many drivers have brand loyalty and that’s fine, but it isn’t a good idea if that stubbornness costs you big bucks every year. It only takes a couple minutes to compare prices to find cheaper car insurance for a company car in Sacramento.