Locating reasonably-priced insurance is not easy, and figuring out which companies offer the most affordable car insurance rates for a company car involves even more shopping around. Each auto insurance company uses their own formula to set their prices, so we’ll go over the car insurance companies with the most affordable rates in San Antonio, TX.
It’s a good idea to know that Texas car insurance rates are influenced by many factors which can substantially decrease or increase the price you have to pay. This is why drivers need to compare rates when trying to find the most budget-friendly auto insurance rates for a company car. Prices can be determined by many different factors and can decrease or increase without notice, so the most affordable company a year ago may now be quite expensive.
Best Cheap Insurance Rates in Texas
|Rank||Company||Cost Per Year|
|4||Texas Farm Bureau||$1,247|
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Travelers offers some of the cheapest car insurance rates in San Antonio at around $1,052 annually. USAA, Germania Mutual, Texas Farm Bureau, and Esurance also make the cut as some of the lowest-priced San Antonio, TX insurance companies.
As shown above, if you are currently insured with Germania Mutual and switched to Travelers, you might realize yearly savings of in the vicinity of $192. Policyholders with Texas Farm Bureau may save as much as $195 a year, and Esurance insureds might reduce rates by $355 a year.
Remember that these policy rates are averaged across all types of drivers and the different vehicles they drive and do not factor in a specific zip code for a company car. So the auto insurance company that has the lowest price for you may not even be in the list above. That point stresses why you need to quote rates from many companies using your own personalized driver profile and vehicle information.
The vehicle model that is being insured is one of the largest considerations when consumers are trying to find the most affordable car insurance for a company car. Vehicles with lower performance, modern passenger safety features, or a positive history of liability claims will cost less to insure than adrenaline junky models.
The list below features insurance rates for a number of the more affordable automobiles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$955|
|Ford Escape XLT 2WD||$963|
|Ford Explorer XLT AWD||$1,070|
|Dodge Grand Caravan CV||$1,078|
|Ford Edge SEL 2WD||$1,107|
|Toyota Camry LE||$1,129|
|Volkswagen Jetta S 4-Dr Sedan||$1,137|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,149|
|Honda Odyssey EX-L W/Navigation||$1,191|
|Chevrolet Impala LTZ||$1,197|
|Chevrolet Silverado LTZ Crew Cab 4WD||$1,211|
|Jeep Wrangler Rubicon 4WD 2-Dr||$1,213|
|Toyota RAV4 Limited 4WD||$1,237|
|Chevrolet Equinox LT AWD||$1,243|
|Jeep Grand Cherokee Laredo 2WD||$1,237|
|Ford Fusion S 4-Dr Sedan||$1,244|
|Ford F-150 FX4 Super Cab 4WD||$1,262|
|Honda Accord LX-S 2-Dr Coupe||$1,273|
|Ford Focus SEL 4-Dr Sedan||$1,281|
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Prices based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Rate quotes do not factor in specific zip code location which can modify prices considerably.
Based on these rates, cars like the Honda CR-V, Ford Escape, Ford Explorer, and Dodge Grand Caravan will definitely be a few of the most affordable vehicles to insure for your employer’s vehicle.
One of the more important things that aid in calculating insurance cost is where your residence is. Areas with more people or higher crime rates tend to have more expensive auto insurance rates, whereas areas with lower vehicle theft rates and fewer weather claims have the enjoyment of a little cheaper coverage.
The illustration below shows the highest-priced places in Texas for a company car to purchase a policy in. San Antonio is ranked #11 costing $1,722 on average, which is around $144 monthly.
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Prices are estimated as specific location information can alter price quotes noticeably.
Cost difference between full coverage and liability
Reducing premiums for car insurance is probably important to the majority of drivers, and one good way to find cheaper insurance for a company car is to not pay for full coverage. The example below illustrates the comparison of insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes no accidents, no driving violations, $100 deductibles, single marital status, and no discounts are applied to the premium.
If we average the cost for all age groups, physical damage coverage on your policy costs $2,922 per year more than just insuring for liability. That is a large expense which might make you wonder if buying full coverage is a waste of money. There is no set rule that is best for determining when to drop full coverage on your policy, but there is a broad guideline. If the yearly cost of full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
Buying coverage from the highest-rated insurance provider can be difficult considering how many companies there are in San Antonio. The company rank data shown below may help you choose which insurers you want to consider comparing rates from.
The rankings below only include companies that insure vehicles across America, so companies without a large exposure are not included in this list. If you wish to compare prices from these and other companies in Texas, just click here.
Top 10 Large Car Insurance Companies in San Antonio Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
Top 10 Large Car Insurance Companies Overall in San Antonio
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Don’t make the mistake of not shopping around
San Antonio car insurance rates are impacted by many things which can significantly increase or decrease the price of coverage. Improving your credit score, buying a different vehicle, or getting caught speeding can trigger rate changes that may make certain companies cheaper than others. And not only may your rating factors change, but insurance companies file new Texas auto insurance rates every year or even multiple times each year to reflect underwriting profits or losses. Significantly higher claims can cause increased rates, while lower claim expenses can produce more affordable San Antonio car insurance rates.
To illustrate this point, the data below shows which companies have the cheapest car insurance in San Antonio, TX for a 30-year-old male driver with no violations or accidents, and a high credit rating. When quoting prices based on his current situation, Travelers has the lowest car insurance rates in San Antonio at $1,124 a year. This is $780 less than the average rate paid by Texas drivers of $1,904. USAA, Germania Mutual, Texas Farm Bureau, and Esurance are also included in the top five cheapest San Antonio, TX auto insurance companies.
The example below compares rates after we give the driver in the first example a chargeable accident, poor credit, and a speeding ticket. Since each insurance company uses their own calculation for determining prices, comparing prices may now present a different list of cheap San Antonio auto insurance companies as shown below.
State Farm now has the best price in San Antonio, TX with USAA, Mercury, Nationwide, and Safe Auto also having competitive pricing. This demonstrates why consumers need to perform an extensive rate comparison when trying to get the lowest car insurance quotes for a company car.
Insurance rates are calculated by many things and change substantially, so the cheapest rate when you last compared rates may now be priced much higher than other options.
How to find low-cost car insurance for a company car
The list below shows a few thrifty ideas that can help you quote lower-cost auto insurance.
- Buy your homeowners policy from the same company as your auto insurance
- Vehicles with safetly features generally cost less to insure
- Full coverage may not be needed on older vehicles
- Higher credit scores may earn you cheaper rates
- Avoid accidents and claims
- Keep rates low by comparing prices once a year
That final tip is extremely necessary, as we stressed in this piece. Prices charged by car insurance companies fluctuate considerably, so drivers shouldn’t be resistant to change to a new company if a better rate can be found.
Many drivers have brand loyalty and that’s fine, but it’s not a great idea if it’s costing you hundreds of dollars year after year. Take a few minutes and compare prices to find cheaper car insurance for a company car in San Antonio.