The words “affordable” and “auto insurance” really don’t belong together, specifically when you are shopping around for the lowest insurance prices for business use. In an attempt to save some money, let’s get started by showing you some of the factors the can have a considerable influence on auto insurance rates, and see if we can help you take the sting out of the next policy you buy.
For using your car for business, one of the largest factors that are looked at to help calculate auto insurance rates is where your car is garaged. Cities with more crime and/or more people tend to pay slightly more, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower rates.
The following table rates the most expensive places in Virginia for business use in which to purchase auto insurance. Virginia Beach comes in at #11 with an annual cost of $948 for the average policyholder, which is around $79 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Burke | $1,037 |
| 2 | McLean | $1,025 |
| 3 | Arlington | $1,013 |
| 4 | Lake Ridge | $1,012 |
| 5 | Alexandria | $1,005 |
| 6 | Richmond | $1,005 |
| 7 | Dale City | $998 |
| 8 | Centreville | $997 |
| 9 | Reston | $983 |
| 10 | Norfolk | $970 |
| 11 | Virginia Beach | $948 |
| 12 | Portsmouth | $943 |
| 13 | Tuckahoe | $939 |
| 14 | Suffolk | $937 |
| 15 | Hampton | $934 |
| 16 | Newport News | $930 |
| 17 | Danville | $922 |
| 18 | Leesburg | $922 |
| 19 | Charlottesville | $922 |
| 20 | Chesapeake | $908 |
| Compare Rates Now Go | ||
Price information shown is comparative as the vehicle garaging location can influence prices considerably.
The type of vehicle on the policy is one of the largest factors that determines whether or not you can buy the most affordable car insurance for business use. Vehicles with economical engines, a great safety record, or a low likelihood of having liability claims will cost significantly less to insure than higher performance models.
The data below showcases insurance costs for a number of the cheapest automobiles to buy coverage for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX-P 4-Dr Sedan | $1,110 |
| Ford Escape Limited 2WD | $1,134 |
| Dodge Grand Caravan CV | $1,247 |
| Ford F-150 XLT Super Cab 4WD | $1,273 |
| Chevrolet Malibu Hybrid | $1,314 |
| GMC Sierra SLE Regular Cab 2WD | $1,321 |
| Chevrolet Equinox LS 2WD | $1,314 |
| Toyota Camry XLE | $1,383 |
| Honda CR-V EX-L 4WD | $1,397 |
| Toyota Prius | $1,407 |
| Chevrolet Silverado LS Crew Cab 4WD | $1,409 |
| Hyundai Elantra SE Touring Station Wagon | $1,481 |
| Hyundai Sonata Limited 4-Dr Sedan | $1,503 |
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Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Prices do not factor in your specific Virginia Beach, VA location which can decrease or increase premium rates significantly.
Based upon the table data, models like the Honda Accord, Ford Escape, Dodge Grand Caravan, and Ford F-150 are going to be some of the less-costly vehicles to insure for using your car for business. The cost of auto insurance will be more costly just because there is more exposure for business use, but in general those makes and models will have the best insurance prices compared to other vehicles.
Selecting the right car insurance provider is hard considering how many companies are available to choose from in Virginia. The ranking data in the lists below can help you pick which companies you want to consider purchasing from.
These ratings are only made up of companies who write in the majority of U.S. states, so companies that have a smaller presence are not included in these rankings. To compare rates from the insurers below and more, click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Erie Insurance | 87 | 84 | 85 | 85% | A+ | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
The diagram below demonstrates how choosing different deductibles can change annual premium costs when getting quotes for cheap insurance for business use. The rate quotes are based on a married male driver, full coverage, and no discounts are factored in.
In the chart above, a 50-year-old driver could lower their car insurance rates by $242 a year by switching from a $100 deductible up to a $500 deductible, or save $364 by selecting a $1,000 deductible. Even younger drivers, such as the 20-year-old chart data, could save $814 or even more just by choosing higher deductibles.
When using a larger deductible, it will be necessary to have enough spare savings to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Ideas for finding economical insurance for business use
Lowering your rates is not difficult, and here are some of the recommended money-saving solutions that can help you get low-cost coverage.
- Higher deductibles save money
- Increase your credit rating
- Safe vehicles generally have lower rates
- Accidents can significantly increase rates
- Older vehicles may not need full coverage
- Save money by observing traffic laws and speed limits
- Keep rates low by shopping around frequently
The last suggestion is certainly significant, as was stressed in this article. Insurance rates can change in a short period of time, so drivers shouldn’t be reluctant to change to a new company if a lower price can be found. Brand loyalty is not necessarily bad, but is isn’t recommended if that stubbornness costs you major coinage every year. Take a few minutes and compare prices to find cheaper auto insurance for business use in Virginia Beach.
If you have coverage questions and would like to get some help when shopping for the best coverage for business use, the agents listed below can provide answers to your questions and help you determine which car insurance policy is best.
To locate a Virginia Beach insurance agent closest to you, click the button at the bottom.
- WBR Insurance
3213 Virginia Beach Blvd – Virginia Beach, VA 23452 – (757) 340-0028 - Aubrey Pithwa – State Farm Insurance Agent
562 Lynnhaven Pkwy #201 – Virginia Beach, VA 23452 – (757) 227-9700 - Bunn Insurance Agency Inc
1248 Culver Ln – Virginia Beach, VA 23454 – (757) 426-2664