The words “low-priced” and “auto insurance” really don’t belong together, specifically when looking for the best car insurance for a company car. Let’s start off by going over a few of the factors that have a considerable impact on insurance prices, and find a few ways to cut the cost of the next policy you buy.
Figuring out which company quotes the lowest-priced insurance rates for a company car will require a little more sweat in order to find the best price.
Each auto insurer uses a slightly different approach for determining rates, so let’s take a look at the most budget-friendly insurance companies in Nevada. It’s important to know that Las Vegas, NV insurance rates are calculated based on many things that control the price you pay for coverage. Simply getting older, moving to a new city, or getting a few speeding tickets can produce rate changes resulting in some companies being cheaper than competitors.
Best Cheap Insurance Rates in Nevada
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Allied | $911 |
| 2 | Travelers | $939 |
| 3 | Capital | $1,008 |
| 4 | American Family | $1,182 |
| 5 | Oregon Mutual | $1,193 |
| 6 | GEICO | $1,232 |
| 7 | Progressive | $1,238 |
| 8 | Nationwide | $1,282 |
| 9 | Safeco | $1,306 |
| 10 | USAA | $1,336 |
| 11 | Farmers | $1,482 |
| 12 | MetLife | $1,567 |
| 13 | Country | $1,668 |
| 14 | State Farm | $1,681 |
| 15 | Mercury | $1,771 |
| 16 | Victoria | $2,011 |
| 17 | Liberty Mutual | $2,249 |
| 18 | Bristol West | $2,384 |
| 19 | Allstate | $2,408 |
| 20 | Encompass | $2,710 |
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Allied may have some of the lowest car insurance rates in Las Vegas at around $911 annually. Travelers, Capital, American Family, and Oregon Mutual also make the cut as some of the cheaper Las Vegas, NV insurance companies.
As depicted above, if you buy coverage from American Family and switched to Allied, you might see a yearly price reduction of upwards of $271. Nevada drivers with Oregon Mutual could save as much as $282 a year, and GEICO customers might cut rates by $321 a year.
To get a fast rate comparison, click here to get a free quote or click through to the companies below.
These prices are averaged across all types of insureds and vehicles and are not factoring in an exact zip code location for a company car. So the insurer that fits your age and vehicle best may not even be in the top 20 companies in the list above. That is why you need to quote rates from many companies using your own driver and vehicle profiles.
The make and model of vehicle that is being insured is a large consideration when looking for the cheapest auto insurance for a company car. Vehicles with high performance engines, poor safety features, or a history of substantial liability claims will cost much more to insure than safer models.
The list below estimates insurance prices for a number of the most affordable vehicles to insure.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra SE Touring Station Wagon | $2,452 |
| Ford Edge SEL AWD | $2,626 |
| Ford Explorer Eddie Bauer AWD | $2,728 |
| Ford Escape Limited 4WD | $2,810 |
| Honda CR-V EX-L 4WD | $2,838 |
| Nissan Altima Hybrid 4-Dr Sedan | $2,868 |
| Toyota Prius | $3,080 |
| Dodge Ram Quad Cab Sport 4WD | $3,114 |
| Dodge Ram 2500 Crew Cab ST 4WD | $3,120 |
| Ford F-150 STX Super Cab 4WD | $3,176 |
| Honda Odyssey EX W/Rear Entertainment | $3,217 |
| Chevrolet Impala LTZ | $3,230 |
| Toyota Tacoma X-Runner 2WD | $3,236 |
| GMC Sierra 2500HD SLT Crew Cab 2WD | $3,254 |
| Volkswagen Jetta SE 2.5 Station Wagon | $3,258 |
| Toyota RAV4 4WD | $3,282 |
| Chevrolet Malibu Hybrid | $3,287 |
| GMC Sierra SLT Extended Cab 4WD | $3,288 |
| Kia Optima LX | $3,292 |
| Dodge Grand Caravan SXT | $3,350 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $3,377 |
| GMC Sierra 3500HD SLE Extended Cab 4WD | $3,435 |
| Hyundai Sonata SE 4-Dr Sedan | $3,452 |
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Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Price estimates do not factor in specific Las Vegas, NV garaging location which can impact coverage prices substantially.
Based upon these rates, cars like the Hyundai Elantra, Ford Edge, Ford Explorer, Ford Escape, and Honda CR-V are most likely to be some of the cheapest vehicles to insure for your employer’s vehicle.
Violations and accidents raise rates
In a perfect world, the ideal way to enjoy the cheapest insurance premiums in Nevada for your employer’s vehicle is to drive cautiously and avoid getting tickets or having accidents. The diagram below demonstrates how traffic citations and fender-benders drive up yearly insurance costs for different ages of insureds. The rate quotes are based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied.
In the example above, the average cost of an auto insurance policy in Las Vegas per year with no accidents or violations is $1,387. Get one speeding ticket and the average cost jumps to $1,571, an increase of $185 each year. Then add one accident along with the one speeding ticket and the yearly cost of insurance for a company car increases to an average of $2,085. That’s an increase of $698, or $58 per month, just for being a less-than-perfect driver!
Should you buy full coverage?
Saving on insurance is probably important to the majority of vehicle owners, and one good way to save on the cost of insurance for a company car is to buy only liability coverage. The chart below illustrates the difference between auto insurance costs when comparing full coverage to liability only. Data assumes no tickets, no at-fault accidents, $250 deductibles, drivers are not married, and no policy discounts are applied.
Averaged for all age groups, physical damage coverage on your policy costs an additional $2,203 per year more than buying just liability insurance. Many drivers may wonder if paying for full coverage is worth it. There is no exact formula for excluding comp and collision coverage, but there is a general guideline. If the yearly cost for physical damage coverage is 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s assume your vehicle’s replacement cost is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would receive is $8,000 after paying your policy deductible. If premiums are more than $800 a year for physical damage coverage, then you may want to consider only buying liability coverage.
Nevada insurance companies ranked
Picking the right insurance company is hard considering how many companies sell coverage in Nevada. The information shown below may help you choose which coverage providers you want to consider purchasing a policy from.
These ratings are only made up of companies with a nationwide focus, so companies that only write business in Nevada or surrounding areas are not taken into consideration for this list. To compare prices from these and other top-rated companies, simply click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Mercury Insurance | 88 | 91 | 90 | 85% | A+ | 89.4 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
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Data Source: Insure.com Best Car Insurance Companies
How to find economical insurance for a company car
Lowering your rates is not difficult, and here are many thrifty ideas that can help Nevada drivers find more affordable coverage.
- The safer your car, the less it costs to insure
- Claim-free policyholders usually earn a discount
- Increase your credit rating
- Increase deductibles to save money
- Older vehicles may not need full coverage
- Buying home and auto insurance together can earn discounts
- Comparison shop at least every other year
The last tip in the list is certainly necessary, as we noted in this piece. Prices charged by companies adjust frequently, so don’t be afraid to switch to a new company if you can find a cheaper rate. Many consumers stick with the same company and that’s fine, but it’s not a great idea if that loyalty results in overpaying major coinage every year. If you have a few minutes, now is a great time to shop around and find cheaper insurance for a company car in Las Vegas.