Wouldn’t it be easy if we could just give you the name of that one perfect company that has the cheapest rates for business use? It’s just not that easy, however, as there are many unknown elements like if you have any driving citations, whether you are a man or a woman, and if you own a home, that all influence how much you pay for auto insurance. We are going to cover these factors and others that can influence the price of auto insurance and will give you a good beginning to your quest for cheaper car insurance.
Determining which companies quote the cheapest auto insurance rates for business use calls for a tad more effort in order to find the lowest price. Each auto insurer has their own unique process for setting prices, so we need to take a look at the lowest cost auto insurance companies in Bakersfield.
It’s important to know that Bakersfield auto insurance rates are calculated based on many things that may substantially change the cost of a policy. Simply improving your credit, buying a home, or getting a ticket for careless driving may cause policy rate changes that can cause some rates to be cheaper in comparison to the competition.
Find Cheaper Auto Insurance for Business Use
|Rank||Company||Cost Per Year|
|Quote Your Rates Go|
USAA offers some of the lowest car insurance rates in Bakersfield at around $1,121 a year. Wawanesa, CSAA, Century National, and Nationwide would also be considered some of the cheapest Bakersfield, CA car insurance companies.
As the rates illustrate above, if you currently buy coverage from Century National and switched to Wawanesa, you could realize savings of upwards of $57. Customers with Nationwide might save as much as $69 a year, and 21st Century customers might lower prices by up to $168 a year.
It’s important to note that these policy prices are averages for all ages of drivers and types of vehicles and and are not figured with an exact zip code location for business use. So the company that can offer you the best price may not even be in the top 24 companies shown above. That affirms the importance of why you need to get car insurance quotes using your own driver data and vehicle information.
The make and model of vehicle you are seeking coverage for is probably the biggest factor when consumers are trying to find cheaper car insurance for business use. Vehicles with average performance, modern passenger safety features, or a low likelihood of liability claims will cost less to insure than high performance models. The data below features auto insurance premiums for a selection of the most affordable vehicles to buy insurance for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$863|
|Jeep Wrangler Sport 4WD 2-Dr||$876|
|Hyundai Elantra SE Touring Station Wagon||$915|
|Ford Edge SEL AWD||$980|
|Toyota Camry LE||$1,001|
|Jeep Grand Cherokee Laredo 2WD||$1,008|
|Ford Escape XLT 4WD||$1,059|
|GMC Sierra SLE Regular Cab 4WD||$1,072|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$1,090|
|Ford Focus S 4-Dr Sedan||$1,122|
|Toyota RAV4 4WD||$1,142|
|Dodge Grand Caravan CV||$1,157|
|Toyota Tacoma Double Cab 4WD||$1,163|
|Ford Explorer Limited AWD||$1,171|
|Honda Odyssey EX-L W/Navigation||$1,203|
|Chevrolet Malibu LTZ||$1,224|
|Chevrolet Impala LT||$1,231|
|Volkswagen Jetta S 4-Dr Sedan||$1,224|
|GMC Sierra 2500HD SLE Crew Cab 4WD||$1,233|
|Dodge Ram Quad Cab SLT 4WD||$1,249|
|Toyota Corolla LE||$1,288|
|Nissan Altima 2.5 S 2-Dr Coupe||$1,309|
|Get a Custom Quote Go|
Data variables include single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Prices do not factor in the specific area where the vehicle is garaged which can alter insurance rates substantially.
Based on these rates, you can infer that cars like the Honda CR-V, Jeep Wrangler, and Hyundai Elantra are going to be a few of the most affordable vehicles to insure for using your car for business. The price of auto insurance will be more costly just due to the fact that there is more claim risk for business use, but in general those vehicles will most likely have the cheapest rates compared to other types of vehicles.
Get discounts on Bakersfield insurance rates
Insurance providers that offer coverage for business use may also provide discounts that could reduce prices by as much as 35% or more if you meet specific criteria. Large auto insurance companies and a summarized list of policyholder discounts are outlined below.
- State Farm may offer discounts for driver’s education, Drive Safe & Save, good student, student away at school, passive restraint, and anti-theft.
- Farmers Insurance includes discounts for good student, teen driver, switch companies, electronic funds transfer, and bundle discounts.
- GEICO policyholders can earn discounts including anti-theft, multi-policy, defensive driver, federal employee, daytime running lights, and air bags.
- American Family offers discounts including early bird, multi-vehicle, accident-free, good driver, TimeAway discount, good student, and mySafetyValet.
- Nationwide may include discounts for Farm Bureau membership, multi-policy, defensive driving, family plan, business or organization, good student, and easy pay.
- Progressive may have discounts that include good student, multi-policy, homeowner, online quote discount, continuous coverage, online signing, and multi-vehicle.
The diagram below shows the difference between auto insurance costs with and without discounts. The data assumes a male driver, no violations or accidents, California state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with accident-free, defensive driving course, marriage, passive restraint, multiple policy, and multiple vehicle discounts applied. When discounts are factored in, theaverage yearly reduction on auto insurance for business use is 28% or $703.
Should you buy full coverage?
Saving money on auto insurance is probably important to most vehicle owners, and a good way to buy cheaper insurance for business use is to only buy liability insurance. The example below compares insurance prices when comparing full coverage to liability only. The premiums are based on no accidents, no driving violations, $100 deductibles, drivers are not married, and no discounts are taken into consideration.
On average, comp and collision coverage costs $3,385 per year more than carrying just liability coverage. That raises the question when is the right time to remove full coverage. There is no definitive formula to delete physical damage coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.
There are some conditions where eliminating full coverage is not financially feasible. If you still have a loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage.
How to find low-cost insurance for business use
The list below details some of the recommended penny-pinching ideas that can help drivers buy cheap auto insurance.
- Increase physical damage deductibles
- Buy your auto and home insurance from the same company and save
- Improve your credit rating
- Full coverage is expensive so only insure older vehicles for liability only
- Earn discounts for being claim-free
- Lower rates by purchasing a safer vehicle
- Compare rates often to find the best deal
That last tip is very vital, as we stressed in the article above. Insurance prices in Bakersfield change a lot, so drivers shouldn’t hesitate to buy from a different company if you find a better deal. Many consumers stick with the same company and that’s fine, but it’s not a good idea if that loyalty ends up costing major coinage every year. If you have a few minutes, compare prices to find cheaper car insurance for business use.
If you aren’t sure which coverage to buy and prefer to have some professional guidance when trying to find the best insurance rates for using your car for business, the agents listed below can help you determine which coverage fits your budget.
To find an auto insurance agency near you, click the link at the bottom or click here to compare prices now.
- Jim Windes – State Farm Insurance Agent
3512 Coffee Rd d – Bakersfield, CA 93308 – (661) 588-1001
- Farmers Insurance – James Burton Jr.
1309 S H St – Bakersfield, CA 93307 – (661) 836-1300
- Allstate Insurance: Diana Martinez
6300 White Ln T – Bakersfield, CA 93309 – (661) 827-8800