Wouldn’t it be nice if we could look into our crystal ball and tell you the exact company that has the best auto insurance prices for a company car? It’s just not that simple, as there are a whole slew of unknowns like if you want full coverage included, how safe your vehicle is, your age, and any driving violations you may have, that all have an effect on the price of a policy. In this article, we will teach you about the different scenarios that increase car insurance cost and will hopefully give the reader a good start in finding the cheapest insurance in Nevada.
Finding good, cost effective auto insurance is not the easiest thing to accomplish, and finding out which companies offer the cheapest insurance rates for a company car calls for more quotes for comparison.
Every auto insurer uses a little different formula for determining prices, so let’s take a look at the most budget-friendly insurance companies in Nevada.
Cheapest Insurance Rates in Nevada
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Allied | $939 |
| 2 | Travelers | $939 |
| 3 | Capital | $1,018 |
| 4 | Oregon Mutual | $1,147 |
| 5 | Progressive | $1,226 |
| 6 | American Family | $1,230 |
| 7 | GEICO | $1,232 |
| 8 | Nationwide | $1,282 |
| 9 | USAA | $1,297 |
| 10 | Safeco | $1,360 |
| 11 | Farmers | $1,496 |
| 12 | MetLife | $1,583 |
| 13 | Country | $1,619 |
| 14 | State Farm | $1,749 |
| 15 | Mercury | $1,807 |
| 16 | Victoria | $2,011 |
| 17 | Liberty Mutual | $2,183 |
| 18 | Bristol West | $2,336 |
| 19 | Allstate | $2,385 |
| 20 | Encompass | $2,710 |
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Allied quotes some of the lowest car insurance rates in Henderson at around $939 annually. This is $635 less than the average rate paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and Progressive are also some of the more affordable Henderson, NV insurance companies.
As the example above demonstrates, if you are currently insured with Travelers and switched to Allied, you could realize an annual savings of upwards of $0. Customers with Capital may save as much as $79 a year, and Oregon Mutual insureds might lower prices by $208 a year.
To see if your current coverage is too expensive, click here to start a quote or click several companies below for low rates.
Remember that these premium estimates are averages across all ages of drivers and types of vehicles and are not factoring in an exact zip code location for a company car. So the auto insurance company that has the cheapest price for you may not even be in the top 20 companies in the list above. That is why you need to compare rates from as many companies as possible using your own personal information and vehicle type.
The vehicle model you are seeking coverage for is one of the largest factors when trying to find the most affordable insurance for a company car. Vehicles with limited top-end speed, good crash test ratings, or low incidents of liability claims will cost much less to insure than adrenaline junky models. The next list shows insurance premiums for a number of the most cost-effective vehicles to buy coverage for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $1,760 |
| Honda CR-V EX-L 4WD | $1,768 |
| Jeep Wrangler Sport 4WD 2-Dr | $1,780 |
| Ford F-150 XL Crew Cab 4WD | $1,967 |
| Ford Focus S 4-Dr Sedan | $1,993 |
| Toyota Camry LE | $2,032 |
| Toyota RAV4 Sport 4WD | $2,037 |
| Ford Explorer Eddie Bauer 4WD | $2,074 |
| Honda Odyssey LX | $2,139 |
| Chevrolet Impala LTZ | $2,149 |
| Toyota Prius | $2,165 |
| Nissan Rogue S AWD | $2,178 |
| Toyota Corolla XRS | $2,181 |
| Nissan Altima 2.5 4-Dr Sedan | $2,320 |
| GMC Sierra SLE Crew Cab 2WD | $2,330 |
| Ford F-250 XL Harley Edition 2WD | $2,327 |
| Ford Fusion Sport AWD 4-Dr Sedan | $2,333 |
| Chevrolet Malibu LT | $2,356 |
| Dodge Ram Crew Cab Sport 2WD | $2,369 |
| Chevrolet Silverado 3500HD LT Crew Cab Diesel 2WD | $2,377 |
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Prices based on married female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Prices do not factor in Henderson, NV location which can alter prices significantly.
By looking at the data, we can tell that makes and models like the Ford Escape, Honda CR-V, and Jeep Wrangler will be the most affordable vehicles to insure for your employer’s vehicle.
The chart below demonstrates how deductibles can impact premium costs when trying to find cheap insurance for a company car. The rate quotes are based on a married male driver, full coverage, and no discounts are taken into consideration.
The chart above illustrates that a 40-year-old driver could lower rates by $256 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $388 by selecting a $1,000 deductible. Even younger drivers, like the 20-year-old, can cut up to $860 or more by choosing a larger deductible amount.
When using a larger deductible, it will be required to have plenty of savings on hand to pay the extra out-of-pocket expense, which deters some people from using high deductibles.
Impact of violations and accidents on rates
The recommended way to find cheap insurance premiums in Nevada for your employer’s vehicle is to pay attention while driving and not receive tickets or have accidents. The chart below illustrates how speeding tickets and fender-benders can raise auto insurance costs for each different age group. The rate quotes are based on a single female driver, full coverage, $100 deductibles, and no discounts are factored in.
In the prior example, the average cost of a car insurance policy in Henderson per year with no violations or accidents is $2,283. Get two speeding tickets and the average cost surges to $3,075, an increase of $792 each year. Now include one accident along with the two speeding tickets and the annual cost of insurance for a company car jumps again to an average of $3,875. That’s an increase of $1,592, or $133 per month, just for not keeping your driving record clean!
How to get discounts on Henderson car insurance rates
Insurance providers that offer quotes for a company car may also provide discounts that can lower rates by as much as 25% or more if you meet eligibility requirements. A list of companies and some of the premium reductions they offer are detailed below.
- Farm Bureau may offer discounts for renewal discount, safe driver, good student, 55 and retired, multi-policy, and multi-vehicle.
- State Farm may have discounts that include multiple policy, accident-free, driver’s education, Drive Safe & Save, passive restraint, and good student.
- Progressive offers discounts including online quote discount, homeowner, multi-vehicle, online signing, multi-policy, and good student.
- Allstate may include discounts for eSmart discount, new car, 55 and retired, EZ pay plan discount, teenSMART discount, FullPay discount, and senior citizen.
- Nationwide includes discounts for business or organization, multi-policy, family plan, anti-theft, good student, and Farm Bureau membership.
- MetLife offers premium reductions for multi-policy, good student, accident-free, defensive driver, good driver, and claim-free.
The example below illustrates the comparison of premium costs with and without discounts. The data assumes a male driver, no driving violations, no at-fault accidents, Nevada state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with vehicle safety, multiple policy, claim-free, marriage, safe-driver, and anti-theft discounts applied. When taking advantage of discounts, the average savings per year on insurance for a company car is 28% or $612.