The words “bargain” and “insurance” really shouldn’t be used together, in particular when shopping around for the best coverage prices for business use. To save some money, let’s go over a few of the factors that significantly impact car insurance premiums, and figure out some ways to reduce the cost of your next policy.
Deciding which company quotes the best car insurance rates for business use will involve a little more work in order to find the best price. Each auto insurance company has a different formula to determine premium rates, so we need to take a look at the most affordable car insurance companies in Irvine.
It’s a good idea to be aware that California car insurance rates are determined by lots of factors that may substantially change the policy premium. Getting older, adding a teenager to your policy, or getting into an accident may cause policy rate changes that can cause some rates to be much cheaper than others.
Find Cheaper Car Insurance for Business Use
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,155 |
| 2 | CSAA | $1,186 |
| 3 | Wawanesa | $1,192 |
| 4 | Century National | $1,226 |
| 5 | Nationwide | $1,250 |
| 6 | 21st Century | $1,338 |
| 7 | Mercury | $1,488 |
| 8 | Grange | $1,491 |
| 9 | Allstate | $1,513 |
| 10 | Progressive | $1,542 |
| 11 | Allied | $1,556 |
| 12 | GEICO | $1,559 |
| 13 | MetLife | $1,606 |
| 14 | The Hartford | $1,623 |
| 15 | State Farm | $1,682 |
| 16 | Esurance | $1,705 |
| 17 | Unitrin | $1,733 |
| 18 | Bristol West | $1,777 |
| 19 | Travelers | $1,806 |
| 20 | Farmers | $2,026 |
| Get Personalized Rates Go | ||
USAA normally has some of the cheapest car insurance rates in Irvine at around $1,155 each year. This is $496 less than the average premium paid by California drivers of $1,651. CSAA, Wawanesa, Century National, and Nationwide also make the cut as some of the cheapest Irvine, CA car insurance companies.
As the example above demonstrates, if you are currently insured with Nationwide and switched to CSAA, you may see an annual premium reduction of roughly $64. California drivers with 21st Century may save as much as $152 a year, and Mercury policyholders might realize rate reductions of up to $302 a year.
Bear in mind that those policy rates are averages across all types of drivers and the different vehicles they drive and do not take into consideration a specific vehicle garaging location for business use. So the insurer that has the cheapest price for you may not even be in the top 24 companies shown above. That emphasizes why you need to get auto insurance quotes using your own driver and vehicle profiles.
For using your car for business, one of the largest criteria that aid in calculating the cost of insurance is where you keep your car in Irvine. Areas with more people or higher crime rates tend to have higher rates, whereas areas that tend to be more rural have the luxury of lower rates.
The illustration below rates the most costly cities in California for business use to purchase car insurance in. Irvine shows up at #20 having an annual price of $1,384 on average, which is around $115 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Los Angeles | $2,168 |
| 2 | Glendale | $2,142 |
| 3 | San Francisco | $1,745 |
| 4 | Oakland | $1,687 |
| 5 | Sacramento | $1,669 |
| 6 | San Bernardino | $1,628 |
| 7 | Stockton | $1,603 |
| 8 | Santa Clarita | $1,580 |
| 9 | Long Beach | $1,562 |
| 10 | Garden Grove | $1,554 |
| 11 | Modesto | $1,532 |
| 12 | Fontana | $1,519 |
| 13 | Fresno | $1,502 |
| 14 | Riverside | $1,497 |
| 15 | Moreno Valley | $1,491 |
| 16 | Santa Ana | $1,483 |
| 17 | Anaheim | $1,474 |
| 18 | San Jose | $1,423 |
| 19 | Bakersfield | $1,394 |
| 20 | Irvine | $1,384 |
| Find Cheaper Insurance Go | ||
Prices are approximated as vehicle location can decrease or increase price quotes noticeably.
The make and model of vehicle driven is probably the most important factor that determines the availability of affordable car insurance for business use. Vehicles with lower performance, an excellent safety record, or a low likelihood of liability claims will cost substantially less to insure than high performance models. The information below showcases insurance prices for the most affordable automobiles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $916 |
| Ford Edge SE AWD | $918 |
| Chevrolet Malibu LS | $936 |
| Toyota RAV4 Sport 4WD | $945 |
| Jeep Grand Cherokee Laredo 2WD | $936 |
| Honda Accord EX-L 4-Dr Sedan | $942 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $950 |
| Ford Escape Limited 4WD | $964 |
| Toyota Tacoma 4WD | $970 |
| Dodge Grand Caravan CV | $975 |
| Toyota Prius | $988 |
| Volkswagen Jetta 2.0T Station Wagon | $1,018 |
| GMC Sierra 3500HD SLE Regular Cab 2WD | $1,020 |
| Chevrolet Equinox LS 2WD | $1,026 |
| Toyota Camry LE | $1,054 |
| Ford Focus SES 4-Dr Sedan | $1,062 |
| Toyota Camry Hybrid | $1,072 |
| Ford Explorer Eddie Bauer 4WD | $1,078 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,082 |
| Toyota Corolla S | $1,087 |
| Start Your Quote Go | |
Price data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Rate information does not factor in Irvine, CA location which can increase or decrease rates substantially.
Based upon these rates, we can tell that vehicles like the Honda CR-V, Ford Edge, and Chevrolet Malibu are most likely going to be the cheaper vehicles to insure for using your car for business. The cost of auto insurance will tend to be higher because of the fact that there is more claim exposure for business use, but in general those specific models will probably have the cheapest car insurance rates compared to other vehicles.
Discounts on Irvine insurance rates
Auto insurance companies that provide coverage for business use may also give you price discounts that could reduce prices by 35% or more if you qualify for them. The best car insurance companies and some of their more popular discounts include:
- Progressive discounts include online quote discount, homeowner, multi-policy, multi-vehicle, continuous coverage, online signing, and good student.
- SAFECO may offer discounts for accident prevention training, teen safe driver, teen safety rewards, safe driver, anti-lock brakes, multi-car, and homeowner.
- American Family offers discounts for early bird, TimeAway discount, accident-free, good driver, air bags, and bundled insurance.
- MetLife policyholders can earn discounts including accident-free, good driver, multi-policy, good student, claim-free, defensive driver
- GEICO offers discounts including military active duty, driver training, membership and employees, seat belt use, good student, multi-policy, and defensive driver.
- The Hartford may include discounts for bundle, anti-theft, defensive driver, vehicle fuel type, good student, and driver training.
The illustration below illustrates the difference between insurance costs with and without discounts applied to the rates. The premiums assume a female driver, no tickets, no at-fault accidents, California state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with claim-free, accident-free, multiple policy, defensive driving course, vehicle safety, and safe-driver discounts applied. When discounts are factored in, theamount saved on car insurance for business use is 28% or $738.
Illustration showing the impact of accidents and violations
A great way to earn the cheapest car insurance prices for using your car for business is to be a cautious driver and avoid accidents and traffic violations. The information below shows how violations and accident claims can drive up car insurance costs for different insured age categories. The information is based on a single male driver, full physical damage coverage, $100 deductibles, and no policy discounts are applied.
In the previous chart, the average cost of an auto insurance policy in California per year with a clean driving record and no accidents is $2,525. Factor in one speeding ticket and the average cost rises to $2,844, an increase of $319 each year. Now include two accidents along with the one speeding ticket and the 12-month cost of car insurance for business use increases to an average of $5,524. That’s an increase of $2,999, or $250 per month, just for being a careless driver!
The chart below demonstrates how deductible levels can influence annual premium costs when getting quotes for cheap insurance for business use. The premium estimates are based on a single female driver, full physical damage coverage, and no discounts are applied to the premium.
As shown above, a 40-year-old driver could lower their policy premium by $490 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $736 by changing to a $1,000 deductible. Young drivers, like the Age 20 chart data, could potentially save $1,246 each year by choosing a higher deductible.
When raising deductibles, it will now be necessary to have plenty of money set aside to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
How to find the cheapest car insurance for business use
It is possible to find better rates, and here are some of the better money-saving suggestions that can help you get more affordable coverage.
- Do not get tickets
- Higher credit scores can equal lower rates
- Claim-free drivers earn discounts
- Vehicles with safetly features generally cost less to insure
- Do not get into accidents
- Compare prices as often as possible
The last tip is particularly valuable, as we pointed out in this write-up. Coverage rates can change in a short period of time, so don’t be unwilling to switch to a new company if you find a better deal. Staying with the same car insurance company is fine, but is isn’t recommended if that devotion results in you overpaying big bucks every year. Take a few minutes and compare rates to find cheaper insurance for business use in Irvine.
The auto insurance agents in Irvine shown below can provide answers to your questions and help you determine which car insurance company is the best fit, since some people have coverage questions and would like to get some professional input when trying to find lower insurance rates for using your car for business. It can be complicated to find the best coverage on your own, and getting advice from a licensed agent can provide peace of mind knowing you have adequate coverage if you have an accident or claim.
To find an agent close to you, click the link after the list.
Wozencraft Insurance Agency
17321 Irvine Blvd #201 – Tustin, CA 92780 – (714) 263-2626
Hays Co
18201 Von Karman Ave # 510 – Irvine, CA 92612 – (949) 442-7662
Farmers Insurance
4000 Barranca Pkwy # 250 – Irvine, CA 92604 – (949) 262-3238
State Farm: Richard Tay
14210 Culver Dr A – Irvine, CA 92604 – (949) 559-8866