It’s hard to avoid all the commercials from auto insurance companies like Allstate and Progressive that make promises of dirt cheap rates. So you just need to choose any of them, right?
Regrettably, it’s not quite that easy, as there are a lot of unknown aspects like the number of miles you drive in a year, if you just need liability coverage, and your age. In this article, we will cover the different ways to avoid overpaying and will give you a good beginning to your search for cheaper coverage.
One of the more important factors that aid in calculating the annual cost of car insurance is where you live. Areas with high crime rates or more dense population will most likely pay more, whereas areas with less congestion receive better rates.
The next table rates the highest-priced places in Texas for business use to purchase a policy in. Corpus Christi is ranked at #19 costing $1,620 for the average insured, which is around $135 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | McAllen | $1,936 |
| 2 | Brownsville | $1,870 |
| 3 | Dallas | $1,855 |
| 4 | Laredo | $1,851 |
| 5 | Houston | $1,835 |
| 6 | Mesquite | $1,825 |
| 7 | Pasadena | $1,812 |
| 8 | Amarillo | $1,804 |
| 9 | Garland | $1,796 |
| 10 | Grand Prairie | $1,793 |
| 11 | Beaumont | $1,772 |
| 12 | Irving | $1,736 |
| 13 | Lubbock | $1,716 |
| 14 | Austin | $1,676 |
| 15 | San Antonio | $1,671 |
| 16 | Fort Worth | $1,670 |
| 17 | Arlington | $1,658 |
| 18 | Plano | $1,624 |
| 19 | Corpus Christi | $1,620 |
| 20 | Carrollton | $1,598 |
| 21 | Waco | $1,584 |
| 22 | El Paso | $1,584 |
| 23 | McKinney | $1,577 |
| 24 | Abilene | $1,499 |
| 25 | Killeen | $1,488 |
| Find the Best Rates Go | ||
Price information shown is comparative as the specific geographic location can increase or decrease coverage rates greatly.
Shopping around for cost effective auto insurance is not the easiest thing to do, and deciding which company has the cheapest car insurance rates for business use takes even more shopping around.
Every insurance provider has a unique formula to set premium rates, so first we will examine the most affordable car insurance companies in Corpus Christi, TX. Keep in mind that Corpus Christi car insurance rates are based on many factors that may substantially change the cost of your policy. This price variability is why Corpus Christi drivers need to compare lots of rates to get the best car insurance rates for business use. Insurance rates can be determined by many things and can increase or decrease at any time, so the most affordable company the last time you compared rates may now be an over-priced policy.
Cheap Insurance Rates for Business Use
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,010 |
| 2 | USAA | $1,117 |
| 3 | Texas Farm Bureau | $1,247 |
| 4 | Germania Mutual | $1,256 |
| 5 | Esurance | $1,365 |
| 6 | California Casualty | $1,424 |
| 7 | State Farm | $1,465 |
| 8 | Mercury | $1,476 |
| 9 | Safe Auto | $1,565 |
| 10 | Nationwide | $1,585 |
| 11 | Allstate | $1,650 |
| 12 | Progressive | $1,664 |
| 13 | Amica | $1,705 |
| 14 | Home State | $2,134 |
| 15 | GEICO | $2,135 |
| 16 | MetLife | $2,227 |
| 17 | Encompass | $2,301 |
| 18 | Unitrin | $2,310 |
| 19 | 21st Century | $2,469 |
| 20 | Titan | $2,646 |
| Find Your Rate Go | ||
Travelers may have some of the cheapest car insurance rates in Corpus Christi at around $1,010 per year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also are some of the best Corpus Christi, TX car insurance companies.
As illustrated above, if you currently have coverage with Texas Farm Bureau and switched to Travelers, you could see a yearly savings of about $237. Customers with Germania Mutual could save as much as $246 a year, and Esurance insureds might lower prices by up to $355 a year.
If you want to find out if you’re overpaying, click here to start a quote or quote rates from the companies below.
It’s important to note that these premiums are averaged across all ages of drivers and types of vehicles and do not factor in a specific vehicle garaging location for business use. So the company that fits your needs best may not even be in the list above. That points out the importance of why you need to get rate quotes using your own specific driver information and vehicle.
The vehicle model needing coverage is one of the biggest factors when comparing low-cost insurance for business use. Vehicles with higher performance characteristics, poor crash test ratings, or high incidents of liability claims will cost much more to insure than more modest models.
The information below shows auto insurance premiums for a selection of the most economical automobiles to insure.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 2WD | $970 |
| Jeep Wrangler Sport 4WD 2-Dr | $985 |
| Honda CR-V EX 4WD | $1,104 |
| Ford Focus S 4-Dr Sedan | $1,106 |
| Ford F-150 XL Super Cab 2WD | $1,141 |
| Toyota Camry XLE | $1,187 |
| Toyota Prius | $1,190 |
| Kia Optima LX | $1,207 |
| Nissan Rogue SL 2WD | $1,217 |
| Chevrolet Equinox LTZ 2WD | $1,209 |
| GMC Sierra SLE Crew Cab 4WD | $1,217 |
| Toyota RAV4 Limited 4WD | $1,234 |
| Jeep Grand Cherokee Laredo 4WD | $1,244 |
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Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Table data does not factor in vehicle garaging location which can revise coverage rates considerably.
Based on these rates, you can infer that makes and models like the Ford Escape, Jeep Wrangler, and Honda CR-V will be the most budget-friendly vehicles to insure for using your car for business. Auto insurance rates will tend to be more expensive just due to the fact that there is more liability risk for business use, but overall those particular vehicles will have the least expensive rates possible.
Full coverage versus liability-only
Reducing the cost of car insurance is probably important to the majority of people, and one of the quickest ways to find cheaper insurance for business use is to not buy full coverage. The example below compares insurance prices with and without physical damage coverage. The data is based on a clean driving record, no claims, $100 deductibles, single marital status, and no discounts are factored in.
If we average all the age groups together, comp and collision coverage costs an additional $2,922 per year more than carrying just liability coverage. Many of you may wonder if paying for full coverage is a waste of money. There is no written rule to exclude comprehensive and collision coverage on your policy, but there is a general school of thought. If the annual cost of coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s say your vehicle’s claim settlement value is $7,500 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $6,500 after you pay the deductible. If you are paying in excess of $650 a year for physical damage coverage, then you may need to consider dropping full coverage.
There are some scenarios where dropping physical damage coverage is not a good idea. If you haven’t paid off your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not drop full coverage.
Discounts on Corpus Christi auto insurance
Car insurance companies that offer quotes for business use may also provide special discounts that may potentially lower prices by as much as 30% if you meet specific criteria. A list of car insurance companies and their possible discounts include:
- American Family includes discounts for mySafetyValet, air bags, defensive driver, multi-vehicle, and Steer into Savings.
- Farm Bureau may have discounts that include multi-policy, good student, youthful driver, 55 and retired, and renewal discount.
- State Farm has discounts for multiple policy, anti-theft, Steer Clear safe driver discount, safe vehicle, passive restraint, and good driver.
- Travelers may offer discounts for multi-car, IntelliDrive, multi-policy, new car, payment discounts, save driver, and early quote.
- The Hartford offers premium reductions for anti-theft, air bag, defensive driver, vehicle fuel type, driver training, and good student.
- GEICO discounts include daytime running lights, good student, emergency military deployment, air bags, multi-policy, and multi-vehicle.
- Progressive policyholders can earn discounts including continuous coverage, online signing, homeowner, good student, online quote discount, multi-vehicle, and multi-policy.
The example below visualizes the comparison of insurance prices with and without policy discounts. The premiums assume a male driver, no driving violations, no at-fault accidents, Texas state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with multiple vehicle, homeowner, claim-free, multiple policy, safe-driver, and accident-free discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on car insurance for business use is 28% or $606.
Low rates today, overpriced tomorrow
Corpus Christi car insurance rates are influenced by many factors that can increase the policy premium. Turning one year older, filing a claim, or getting a DUI can cause premium changes that can make some companies cheaper than competitors.
In addition, companies change premium rates as needed as an adjustment for underwriting gains or losses. A period of increased losses can cause rate hikes, while lower claims may cause lower-priced Corpus Christi car insurance rates.
For example, the bar chart below analyzes the cheapest car insurance in Corpus Christi, TX for a 30-year-old male driver with no accidents or violations, and a high credit rating. Based on his current risk factors, Travelers may offer the most affordable car insurance rates in Corpus Christi at $1,145 annually. This is $759 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also on the list of the cheapest Corpus Christi, TX auto insurance companies.
Let’s now give the driver from the first rate comparison an at-fault accident, a lower credit score, and a stop sign violation. Due to the fact that every insurance company has a different formula for determining rates, comparing prices could result in a new list of affordable Corpus Christi car insurance companies as shown below.
State Farm now has the lowest car insurance rate in Corpus Christi, TX with Mercury, Safe Auto, Nationwide, and USAA also having competitive pricing. This demonstrates why it is critical to perform an extensive rate comparison when trying to find the most economical car insurance quotes for business use. Prices consist of many different factors and change frequently, so the best option when you last compared rates may now be one of the higher cost companies.
How to find low-cost insurance for business use
Below you’ll find some of the recommended money-saving suggestions that can help drivers quote more affordable car insurance.
- Raise comprehensive and collision coverage deductibles
- Good credit can help you save money
- Do not get into accidents
- Save money by observing traffic laws and speed limits
- Vehicles with safetly features generally cost less to insure
- Compare rates and switch if you can find a better deal
The last tip is remarkably valuable, as was stressed in the prior article. Insurance prices change a lot, so drivers shouldn’t hesitate to switch to a new company if a more affordable price is available.
Having brand loyalty is commendable, but it’s not recommended if that dedication is costing major coinage every year. Now is a great time to compare rates to find cheaper insurance for business use in Corpus Christi.