The vehicle model you are insuring is one of the biggest factors when trying to find the most economical car insurance for business use. Vehicles with average performance, good safety features, or a positive history of liability claims will cost substantially less to insure than adrenaline junky models.
The data below features car insurance rates for the most economical automobiles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$1,009|
|Honda CR-V LX 4WD||$1,015|
|Dodge Grand Caravan CV||$1,029|
|Hyundai Elantra GLS Touring Station Wagon||$1,040|
|Honda Odyssey EX W/Rear Entertainment||$1,068|
|Chevrolet Impala LS||$1,078|
|Ford Edge SEL AWD||$1,068|
|Toyota RAV4 Limited 4WD||$1,087|
|Chevrolet Malibu Hybrid||$1,097|
|Ford Escape Limited 4WD||$1,096|
|Ford F-150 XL Super Cab 4WD||$1,126|
|Ford Focus SES 4-Dr Sedan||$1,128|
|Toyota Camry XLE||$1,148|
|Jeep Grand Cherokee Limited 2WD||$1,169|
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Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Rates do not factor in vehicle garaging location which can alter prices greatly.
By looking at the data, we can tell that cars like the Honda Accord, Honda CR-V, Toyota Prius, and Dodge Grand Caravan are most likely to be a few of the cheaper vehicles to insure for using your car for business. The price of auto insurance will be higher anyway because there is more liability exposure for business use, but in general those particular models will probably have the least expensive rates compared to all other vehicles.
For using your car for business, one of the largest considerations that help determine the price you pay for insurance is your zip code in Plano. Areas with high crime rates or more dense population will most likely pay more, whereas more rural areas benefit from having to pay less for coverage.
The table below ranks the most expensive places in Texas for business use to purchase car insurance in. Plano ranks #18 with a yearly premium of $1,624 on average, which is around $135 monthly.
|Rank||City||Premium Per Year|
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Rate quotes are comparative as the specific garaging location can raise or lower auto insurance rates greatly.
Deciding which companies quote the cheapest auto insurance rates for business use will require more time than just quoting one company’s rates. Each auto insurer used slightly different criteria for setting rates, so to begin we’ll rank the auto insurance companies that tend to have lower prices in Plano, TX.
Best Auto Insurance Prices for Business Use
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,211|
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Travelers has some of the cheapest car insurance rates in Plano at around $1,021 per year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance would also be considered some of the more affordable Plano, TX car insurance companies.
As illustrated above, if you currently have coverage with Germania Mutual and switched to USAA, you could see a yearly savings of in the vicinity of $198. Drivers with Esurance could save as much as $295 a year, and California Casualty customers might reduce rates by $312 a year.
To find the cheapest coverage for you, click here or click several companies below for low rates.
These premium estimates are averages across all types of insureds and vehicles and do not factor in a specific location for business use. So the insurer that is most affordable for your situation may not even be in the top 23 companies in the list above. That underscores the importance of why you need to get quotes using your own driver information and specific vehicle type.
Get discount Plano car insurance rates
Auto insurance companies that provide coverage for business use may additionally offer policy discounts that can reduce rates by 25% or more if you are eligible. A few popular companies and a summarized list of policyholder discounts are:
- GEICO includes discounts for multi-vehicle, five-year accident-free, membership and employees, defensive driver, air bags, anti-theft, and seat belt use.
- Travelers has discounts for driver training, multi-policy, student away at school, good student, and multi-car.
- Nationwide discounts include easy pay, defensive driving, good student, anti-theft, and business or organization.
- Farmers Insurance may include discounts for youthful driver, homeowner, switch companies, multi-car, mature driver, teen driver, and business and professional.
- Esurance may have discounts that include anti-lock brakes, good student, paid-in-full, online shopper, emergency road assistance, and defensive driver.
- State Farm offers discounts including good driver, multiple policy, defensive driving training, student away at school, and anti-theft.
- Progressive policyholders can earn discounts including continuous coverage, multi-policy, good student, homeowner, and online signing.
- Mercury Insurance may offer discounts for annual mileage, ease of repair, anti-theft, low natural disaster claims, and multi-car.
The illustration below compares insurance rates with and without discounts applied. The rates are based on a female driver, no claims or driving citations, Texas state minimum liability limits, comprehensive and collision coverage, and $250 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with safe-driver, anti-theft, vehicle safety, defensive driving course, passive restraint, and multiple vehicle discounts applied. In this example, theaverage yearly reduction on auto insurance for business use is 28% or $706.
Poor driving habits will raise your auto insurance rates
The ideal way to find good auto insurance premiums for using your car for business is to be a cautious driver and maintain a clean driving record. The chart below illustrates how speeding tickets and fender-benders can increase premium costs for different age groups of insureds. The prices are based on a single female driver, full coverage, $100 deductibles, and no other discounts are factored in.
In the previous chart, the average cost of an auto insurance policy in Plano per year with a clean driving record and no accidents is $2,067. Get written up for two speeding tickets and the average cost swells to $2,783, an increase of $715 each year. Now add in one accident along with the two speeding tickets and the 12-month cost of auto insurance for business use jumps again to an average of $3,498. That’s an increase of $1,431, or $119 per month, just for not being attentive to the road!
How to find economical insurance for business use
Lowering your rates is not difficult, and here are some thrifty solutions that can help Plano drivers locate cheaper car insurance.
- Increase the comprehensive and collision deductibles on your policy
- Accident-free drivers may qualify for discounts
- Pay cheaper rates with good credit scores
- If your vehicles are older, consider dropping full coverage
- Vehicles with safetly features generally cost less to insure
- You will pay more if you get tickets or have at-fault accidents
- Comparison shop at least every other year
The last item on the list is particularly vital, as we emphasized in this piece. Car insurance rates in Plano fluctuate considerably, so don’t hesitate to buy from a different company if you find a better deal.
Having brand loyalty is commendable, but we do not recommend it if that inflexibility results in costing you major coinage every year. If you have a few minutes, now is a great time to compare rates and find cheaper insurance for business use.