Who Has the Cheapest Auto Insurance for a Company Car in Jacksonville?

For your employer’s vehicle, one of the big considerations that are looked at to help calculate insurance cost is where you call home. More populated areas tend to have higher auto insurance costs, whereas areas with less people or fewer weather incidents have the enjoyment of a little cheaper coverage.

The following table shows the priciest cities in Florida for a company car to purchase car insurance in. Jacksonville comes in at #19 with a yearly premium of $1,980 for the average policyholder, which is around $165 monthly.

How much does auto insurance cost in Jacksonville?
Rank City Annual Rate
1 Hialeah $3,488
2 Miami $3,273
3 Miami Gardens $3,181
4 Miami Beach $2,953
5 Hollywood $2,630
6 Miramar $2,629
7 West Palm Beach $2,625
8 Pompano Beach $2,595
9 Fort Lauderdale $2,576
10 Coral Springs $2,574
11 Tampa $2,532
12 Pembroke Pines $2,505
13 Davie $2,473
14 Brandon $2,298
15 St. Petersburg $2,219
16 Clearwater $2,194
17 Spring Hill $2,123
18 Orlando $2,090
19 Jacksonville $1,980
20 Port St. Lucie $1,935
21 Lakeland $1,901
22 Cape Coral $1,898
23 Tallahassee $1,801
24 Palm Bay $1,786
25 Gainesville $1,646
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Premium amounts are approximated as the vehicle garaging location can change insurance rates substantially.

The vehicle you are seeking coverage for is probably the most important factor that determines if you can find the most affordable insurance for a company car. Vehicles with higher performance, a lack of advanced safety features, or a history of substantial liability claims will cost substantially more to insure than more modest models.

The next list ranks car insurance rates for a number of the cheapest automobiles to buy insurance for.

Cheapest Vehicles to Insure in Jacksonville, FL
Make and Model Estimated Cost for Full Coverage
Honda CR-V LX 4WD $1,212
Ford Escape Limited 4WD $1,316
Dodge Grand Caravan SE $1,356
Honda Accord EX-L 4-Dr Sedan $1,443
Toyota Prius $1,472
Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr $1,475
Chevrolet Silverado LT Extended Cab 2WD $1,534
Ford Focus S 4-Dr Sedan $1,537
Ford Fusion Sport 4-Dr Sedan $1,544
GMC Sierra SLT Extended Cab 4WD $1,537
Chevrolet Equinox LTZ AWD $1,545
Toyota RAV4 4WD $1,569
Honda Odyssey EX $1,576
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Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Rates do not factor in garaging location in Jacksonville, FL which can raise or lower premiums greatly.

Looking at the numbers, we can tell that makes and models like the Honda CR-V, Ford Escape, and Dodge Grand Caravan will definitely be some of the cheapest vehicles to insure for your employer’s vehicle.

Trying to buy budget auto insurance is hard enough, and figuring out which companies quote the best insurance rates for a company car takes more quotes for comparison. Each insurance company has a different formula to establish rates, so let’s begin by examining the lowest cost insurance companies in Florida.

It’s important that you understand Jacksonville, FL insurance rates are impacted by many factors which can significantly increase or decrease the cost of your policy. Improving your credit score, moving to a new city, or getting a driving violation can trigger rate changes resulting in some companies being cheaper than before.

Compare Cheap Insurance Quotes in Florida

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Florida car insurance ranked by cost per year
Rank Company Cost Per Year
1 USAA $977
2 Amica $1,746
3 Electric $1,764
4 Progressive $1,829
5 Travelers $1,869
6 Mercury $1,933
7 Allied $2,004
8 State Farm $2,068
9 Esurance $2,102
10 GEICO $2,150
11 Auto-Owners $2,171
12 Allstate $2,317
13 21st Century $2,397
14 Windhaven Insurance $2,627
15 MetLife $2,870
16 Safeco $2,987
17 Hanover $3,024
18 Liberty Mutual $3,101
19 United Automobile $3,422
20 Infinity $4,045
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USAA may offer some of the best car insurance rates in Jacksonville at around $977 a year. This is $1,471 less than the average premium paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers would also make the list of some of the best Jacksonville, FL auto insurance companies.

As shown above, if you are a policyholder with Travelers and switched to Amica, you may realize annual savings of around $123. Insureds with Mercury might save as much as $187 a year, and Allied policyholders might reduce rates by $258 a year.

It’s important to note that these premium estimates are averages for all types of insureds and vehicles and do not take into consideration an exact zip code location for a company car. So the company that has the lowest price for you may not even be in the top 21 companies in the list above. That is why you need to compare prices as often as possible using your own personalized driver profile and vehicle information.

Choosing a good quality auto insurance provider is hard considering how many companies provide coverage in Jacksonville. The rank data below could help you decide which providers you want to consider when buying insurance for a company car. These ratings are only made up of major nationwide insurance companies, so companies that may only write in Florida will not be included in this list.

Top 10 Major Car Insurance Companies Overall in Jacksonville

  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 Jacksonville Ranked by Customer Service

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

Should you buy full coverage?

Paying a lower price for insurance is important to most vehicle owners, and one of the best ways to buy cheap insurance for a company car is to not pay for full coverage. The diagram below illustrates the comparison of auto insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Florida. The rate quotes are based on no claims or driving violations, $1,000 deductibles, drivers are not married, and no discounts are factored in.

If all age groups are averaged, comp and collision coverage costs $2,330 per year more than just buying liability insurance. That is a significant amount which raises the question if you should buy full coverage. There is no definitive rule to exclude physical damage coverage on your policy, but there is a broad guideline. If the annual cost of having full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.

There are some cases where buying only liability insurance is not recommended. If you still owe a portion of the original loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should keep full coverage.

Responsible drivers pay cheaper insurance rates

The obvious way to maintain good insurance premiums for your employer’s vehicle is to drive safely and avoid accidents and violations. The example below demonstrates how speeding tickets and at-fault fender-benders increase car insurance costs for different age groups. The data assumes a married male driver, comp and collision included, $250 deductibles, and no discounts are factored in.

In the example above, the average cost of auto insurance in Florida per year with no accidents or violations is $2,067. Add in one speeding ticket and the average cost hikes up to $2,369, an increase of $302 each year. Now add one accident along with the one speeding ticket and the annual cost of insurance for a company car jumps again to an average of $3,228. That’s an increase of $1,162, or $97 per month, just for not driving carefully!