What Insurance is Cheapest for a Company Car in Plano?

The words “low-priced” and “insurance” probably shouldn’t be used in the same sentence, especially when shopping around for the best price on coverage for a company car. In an attempt to save some money, let’s start the ball rolling by going over some situations that influence auto insurance premiums, and figure out some ways to shave a little off your next policy.

For your employer’s vehicle, one of the largest factors that help determine the amount you pay for auto insurance is your address in Plano. More populated areas will most likely pay more, whereas areas with less congestion benefit from lower coverage costs.

The illustration below sorts the most expensive places in Texas for a company car to buy car insurance in. Plano comes in at #21 with a yearly premium of $1,576 for the average policy, which is about $131 monthly.

How much does car insurance cost in Plano, TX?
Rank City Annual Premium
1 McAllen $1,956
2 Dallas $1,911
3 Laredo $1,907
4 Houston $1,853
5 Brownsville $1,851
6 Garland $1,850
7 Pasadena $1,794
8 Irving $1,789
9 Amarillo $1,786
10 Grand Prairie $1,757
11 Mesquite $1,753
12 Beaumont $1,720
13 Lubbock $1,716
14 Arlington $1,709
15 San Antonio $1,671
16 Fort Worth $1,670
17 Carrollton $1,647
18 El Paso $1,616
19 Austin $1,610
20 McKinney $1,609
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Rates are approximated as the specific geographic location can increase or decrease prices considerably.

Deciding which companies quote the best auto insurance rates for a company car takes more work than just quoting one company’s rates.

Each auto insurance company has a proprietary formula to set policy rates, so we will examine the most budget-friendly auto insurance companies in Plano, TX. It’s important that readers know that Texas auto insurance rates are impacted by many things which can substantially decrease or increase the price you pay. Getting older, moving across town, or getting a couple of tickets can trigger changes in premium that can cause some rates to be cheaper than competitors.

Lowest Insurance Price Quotes in Texas

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Rankings for the cheapest Texas auto insurance companies
Rank Company Cost Per Year
1 Travelers $1,041
2 USAA $1,084
3 Texas Farm Bureau $1,199
4 Germania Mutual $1,282
5 Esurance $1,407
6 California Casualty $1,424
7 Mercury $1,461
8 State Farm $1,465
9 Nationwide $1,600
10 Safe Auto $1,613
11 Progressive $1,647
12 Allstate $1,701
13 Amica $1,723
14 Home State $2,134
15 GEICO $2,156
16 MetLife $2,183
17 Encompass $2,232
18 Unitrin $2,310
19 21st Century $2,494
20 Titan $2,568
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Travelers offers some of the most affordable car insurance rates in Plano at around $1,041 a year. This is $863 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the cut as some of the cheaper Plano, TX insurance companies.

In the above example, if you have coverage with Esurance and switched to USAA, you might realize an annual savings of around $323. Customers with California Casualty may save as much as $340 a year, and Mercury policyholders might lower prices by $377 a year.

These policy rates are averaged for all types of insureds and vehicles and and are not figured with a vehicle location for a company car. So the company that is best for you may not even be in the list above. That underscores the importance of why you need to get car insurance quotes using your own driver information and specific vehicle type.

The make and model of vehicle on the policy is a large consideration when comparing the best cheap coverage for a company car. Vehicles with reasonable performance levels, good safety features, or low incidents of liability claims will cost significantly less to insure than fast, unsafe models. The next list estimates car insurance premiums for a selection of the most cost-effective automobiles to insure in Texas.

Cheapest Vehicles to Insure in Plano, TX
Vehicle Insured Estimated Cost for Full Coverage
Honda Accord EX 4-Dr Sedan $934
Ford Escape XLS 4WD $1,026
Jeep Wrangler Rubicon 4WD 2-Dr $1,050
Honda CR-V EX-L 2WD $1,055
Toyota RAV4 4WD $1,111
Toyota Prius $1,142
Ford Explorer XLT 4WD $1,148
Toyota Corolla XLE $1,170
Honda Odyssey EX-L W/Rear Entertainment $1,178
Toyota Camry XLE $1,170
Hyundai Elantra SE 4-Dr Sedan $1,178
GMC Sierra SLE Crew Cab 2WD $1,192
Volkswagen Jetta SE 2.5 Station Wagon $1,207
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Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Rate quotes do not factor in vehicle location which can increase or decrease coverage rates considerably.

By looking at the data, you can see that models like the Honda Accord, Ford Escape, and Jeep Wrangler should be a few of the most affordable vehicles to insure for your employer’s vehicle.

Selecting the top car insurance provider can be challenging considering how many different companies there are to choose from in Plano. The company ratings shown below can help you analyze which companies to look at comparing rate quotes with. These ratings only include companies that write coverage in many states, so companies with more of a regional focus are not taken into consideration for this list.

Best 15 Auto Insurance Companies for a Company Car in Texas
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
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Data Source: Insure.com Best Car Insurance Companies

The diagram below demonstrates how deductibles can influence insurance premiums when quoting cheap insurance for a company car. The prices are based on a single female driver, comprehensive and collision coverage, and no policy discounts are applied.

In the chart above, a 50-year-old driver could pocket $422 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $634 by using a $1,000 deductible. Even younger insureds, like the age 20 example, could shave as much as $1,074 or more just by choosing higher deductibles when buying full coverage. When increasing deductibles, it is necessary to have enough savings to satisfy the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.

Driving violations and accidents

The best way to score the best auto insurance prices in Texas for your employer’s vehicle is to be an attentive driver and avoid accidents and traffic citations. The diagram below illustrates how violations and fender-benders can influence yearly insurance costs for each age group. The prices are based on a married female driver, comprehensive and collision coverage, $250 deductibles, and no additional discounts are factored in.

In the previous chart, the average cost of a car insurance policy in Plano per year with no accidents or violations is $2,050. Get written up for two speeding tickets and the average cost rises to $2,920, an increase of $870 each year. Next add one accident along with the two speeding tickets and the 12-month cost of auto insurance for a company car jumps again to an average of $3,809. That’s an increase of $1,759, or $147 per month, just for being a little careless behind the wheel!

How to find the cheapest car insurance for a company car

Below you’ll find a few thrifty solutions that can help drivers locate lower-cost car insurance.

The last tip is remarkably vital, as was stressed in this piece. Car insurance rates in Plano fluctuate constantly, so don’t hesitate to buy a different policy if a more affordable price is available.

Many drivers have brand loyalty and that’s fine, but it isn’t a good idea if that inflexibility results in costing you potentially thousands of dollars a year. Spend a few minutes and compare rates to find cheaper auto insurance for a company car.

If you aren’t sure which coverage to buy and prefer to get help from a professional when shopping for cheaper insurance for a company car, the agents shown below can answer your questions and help you decide which coverages you need. To find a Plano insurance agent closest to you, click the link after the list.

Tamara Murphy – State Farm Insurance Agent
4504 Legacy Dr #200Plano, TX 75024(972) 943-9555

Alpha Omega Insurance Agencyā€ˇ
3131 Custer Rd #275Plano, TX 75075(866) 386-0739

Brad Salter – State Farm Insurance Agent
8000 Coit Rd #100Plano, TX 75025(972) 731-0350

View map of Plano, TX insurance agents