What Car Insurance is Cheapest for a Company Car in Miami?

You have most likely watched the captivating ads from auto insurance companies like Progressive, GEICO, and Nationwide that make promises of the cheapest rates, so you should just choose the one with the best commercial, right?

It’s not quite that easy, unfortunately, as there are a lot of unknown aspects like whether or not you own a home, your age, if you have a spouse, and what level of deductibles you need, that all factor into the price you pay. We will try to teach you about the different ways to avoid overpaying and will hopefully give you a good start in finding the cheapest car insurance in Miami.

The car, truck, or SUV to be insured is one of the primary factors that determines if you can find affordable insurance for a company car. Vehicles with high performance engines, poor crash test ratings, or a history of substantial liability claims will cost much more to insure than safer, lower-performance models.

The table below outlines auto insurance rates for the most economical automobiles to insure in Florida.

Cheapest Vehicles to Insure in Miami, FL
Make and Model Estimated Cost for Full Coverage
Hyundai Elantra GLS Touring Station Wagon $2,711
Ford F-150 XL Crew Cab 2WD $3,034
Jeep Wrangler Sahara 4WD 2-Dr $3,044
Ford Escape XLT 4WD $3,034
Dodge Grand Caravan SE $3,042
Honda Accord LX 4-Dr Sedan $3,056
Honda CR-V LX 2WD $3,061
Ford Edge SEL 2WD $3,145
Chevrolet Malibu Hybrid $3,204
Chevrolet Impala LT $3,209
Toyota Prius $3,297
Honda Odyssey EX-L W/Rear Entertainment $3,379
Toyota Corolla XLE $3,384
Ford Focus SE 4-Dr Sedan $3,438
GMC Sierra SLE Regular Cab 4WD $3,442
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Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Prices do not factor in specific location which can raise or lower coverage prices noticeably.

Based upon these rates, we can conclude that cars like the Hyundai Elantra, Ford F-150, and Jeep Wrangler are going to be a few of the cheapest vehicles to insure for your employer’s vehicle.

Comparing rates for reasonably-priced car insurance is confusing at best, and deciding which company quotes the best insurance rates for a company car may require more quotes for comparison. Every insurance company uses different criteria for filing rates in each state, so let’s take a look at the insurance companies that tend to have lower prices in Miami.

It’s important to know that Florida insurance rates are influenced by many factors that control the price you pay. Price variation is why it is important to perform a complete rate comparison when trying to find the most budget-friendly auto insurance quotes for a company car. Insurance prices can be determined by many things and change dramatically, so the lowest-price company six months ago may now be quite expensive.

Best Car Insurance Prices in Florida

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Rankings for the cheapest Florida auto insurance companies
Rank Company Cost Per Year
1 USAA $977
2 Amica $1,712
3 Electric $1,764
4 Progressive $1,847
5 Allied $1,945
6 Travelers $1,945
7 Mercury $1,992
8 Esurance $2,102
9 State Farm $2,131
10 Auto-Owners $2,171
11 GEICO $2,172
12 Allstate $2,340
13 21st Century $2,469
14 Windhaven Insurance $2,653
15 Safeco $2,927
16 MetLife $2,988
17 Liberty Mutual $3,039
18 Hanover $3,054
19 United Automobile $3,422
20 Direct General $3,942
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USAA quotes some of the most affordable car insurance rates in Miami at around $977 annually. This is $1,471 less than the average price paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Allied would also make the list of some of the most economical Miami, FL auto insurance companies.

As the rates illustrate above, if you currently have a policy with Allied and switched to Amica, you could see a yearly savings of around $233. Insureds with Travelers could save as much as $233 a year, and Mercury insureds might see rate reductions of $280 a year.

To get a quick, customized rate comparison, click here to start a quote or visit any of the companies below.

Bear in mind that those estimates are averages across all ages of drivers and types of vehicles and do not factor in a specific vehicle garaging location for a company car. So the auto insurance company that has the lowest price for you may not even be in the top 21 companies in the list above. That helps illustrate why you need to get rate quotes from many companies using your own individual information.

The information below shows how choosing a deductible can change insurance rates when quoting cheap insurance for a company car. The data assumes a single male driver, comprehensive and collision coverage, and no other discounts are factored in.

A 30-year-old driver could lower their car insurance rates by $522 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $786 by changing to a $1,000 deductible. Young drivers, like the age 20 example, can cut as much as $1,550 each year just by choosing higher deductibles when buying full coverage. When using a larger deductible, it is essential to have additional funds in a savings account to offset the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.

Get discount Miami insurance rates

Insurance for your employer's vehicle in Miami, FLInsurers that sell policies for a company car could also offer special discounts that can lower rates by 25% or more if you meet specific eligibility requirements. The best insurance companies and a selection of discounts are included below.

The example below illustrates the comparison of yearly insurance costs with and without discounts applied to the policy premium. The premium estimates are based on a male driver, no claims or driving violations, Florida state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with anti-theft, vehicle safety, accident-free, marriage, multiple vehicle, and claim-free discounts applied. When drivers take advantage of discounts, the average amount saved each year on insurance for a company car is 28% or $659.

Choosing the best auto insurance company can be difficult considering how many different companies insure vehicles in Florida. The company rank data listed below could help you decide which coverage providers you want to consider when comparing auto insurance rates for a company car. The ratings below include large nationwide companies, so smaller regional companies will not be included in the list.

Top 10 Major Car Insurance Companies Overall in Miami

  1. Travelers
  2. USAA
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Allstate
  7. State Farm
  8. The Hartford
  9. Safeco Insurance
  10. Progressive

Top 10 Major Car Insurance Companies in Miami Ranked by Claims Service

  1. Travelers
  2. Nationwide
  3. Allstate
  4. State Farm
  5. Liberty Mutual
  6. GEICO
  7. American Family
  8. Esurance
  9. Titan Insurance
  10. AAA Insurance