The vehicle model to be insured is one of the largest considerations that determines whether or not you find cheap auto insurance for business use. Vehicles with high performance, a lack of modern safety features, or high incidents of liability claims will cost much more to insure than more economical and safe models.
The next list shows insurance costs for a handful of the most cost-effective automobiles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLT 4WD||$1,016|
|Honda CR-V EX-L 4WD||$1,024|
|Chevrolet Impala LS||$1,158|
|Ford Focus SE 4-Dr Sedan||$1,166|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,167|
|Ford F-150 XL Regular Cab 2WD||$1,176|
|Toyota Tacoma Double Cab 4WD||$1,180|
|Jeep Grand Cherokee Laredo 2WD||$1,189|
|Toyota RAV4 Limited 4WD||$1,180|
|Dodge Ram Quad Cab ST 2WD||$1,198|
|Hyundai Elantra Blue 4-Dr Sedan||$1,221|
|Toyota Corolla XLE||$1,252|
|Honda Odyssey EX||$1,264|
|Ford Explorer XLT 2WD||$1,266|
|GMC Sierra 2500HD SLE Extended Cab 4WD||$1,274|
|Honda Civic GX 4-Dr Sedan||$1,306|
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Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Price estimates do not factor in specific garaging location which can raise or lower premiums substantially.
Looking at the numbers, vehicles like the Ford Escape, Honda CR-V, Chevrolet Impala, and Ford Focus will definitely be the most affordable vehicles to insure for using your car for business. Prices will be more costly just because there is more inherent risk for business use, but overall those particular vehicles will have the cheapest car insurance rates that you are likely to find.
One of the more important components that aid in calculating insurance cost is where you call home in Raleigh. More populated areas are more likely to pay higher prices, whereas areas that tend to be more rural tend to receive slightly lower rates.
The following table lists the most expensive areas in North Carolina for business use in which to buy car insurance. Raleigh is ranked at #7 with the annual price of $760 for the average policy, which is around $63 each month.
|Rank||City||Premium Per Year|
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Annual rates are estimated as specific Raleigh garaging address can raise or lower premiums greatly.
Tickets and at-fault accidents raise rates
The common sense way to get the best car insurance rates in North Carolina for using your car for business is to drive cautiously and maintain a clean driving record. The information below illustrates how traffic citations and fender-benders can raise insurance costs for each different age category. The price estimates are based on a single male driver, full coverage, $250 deductibles, and no additional discounts are factored in.
In the prior example, the average cost of auto insurance in Raleigh per year with no accidents or violations is $1,316. Add in two speeding tickets and the average cost jumps to $1,739, an increase of $424 each year. Now include one accident along with the two speeding tickets and the 12-month cost of car insurance for business use jumps again to an average of $2,163. That’s an increase of $848, or $71 per month, just for not driving carefully!
The information below shows how choosing a deductible can influence insurance costs when getting quotes for cheap insurance for business use. The rate quotes are based on a married male driver, full physical damage coverage, and no discounts are factored in.
A 40-year-old driver could reduce rates by $174 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $262 by switching to a $1,000 deductible. Young drivers, such as the 20-year-old chart data, can cut as much as $578 or even more just by choosing higher deductibles. When using a larger deductible, it is a good idea to have enough in a savings account to enable you to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Buying coverage from a high-quality insurance company can be rather challenging considering how many choices there are in North Carolina. The company ratings shown below may help you pick which providers to look at when comparing rate quotes.
The rankings below are for the largest companies in America, so companies with more of a regional focus are not taken into consideration for the list. To view rates from the insurers below and more, follow this link.
Top 10 Large Auto Insurance Providers in Raleigh Ranked by Value
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- The General
- 21st Century
- Titan Insurance
The insurance agents in Raleigh listed below are willing to help you determine which is the best policy, since lots of people like to have the advice of a professional agent when buying car insurance for business use. It can be hard to find the cheapest rates, and getting advice from a licensed agent can add comfort knowing you have sufficient coverage for your assets. To find an agent close to you, click the button following the list or click here to compare prices now.
David Brown – State Farm Insurance Agent
9380 Falls of Neuse Rd #105 – Raleigh, NC 27615 – (919) 846-1819
Independent Insurance Agents of North Carolina Inc
101 Weston Oaks Ct – Cary, NC 27513 – (919) 828-4371
Lee Winters Insurance Agency
1330 St Marys St Suite 250 – Raleigh, NC 27605 – (919) 828-7130
How to find budget-friendly auto insurance for business use
The list below details some of the better money-saving suggestions that can help Raleigh drivers locate low-cost auto insurance.
- Too many claims can make car insurance unaffordable
- Good credit scores may make rates cheaper
- Avoid accidents
- Get cheaper liability coverage by choosing a safer vehicle
- Keep your driving record clean
- Shop around and save
That last piece of advice is extraordinarily critical, as was emphasized in this piece. Car insurance rates in Raleigh fluctuate constantly, so drivers shouldn’t hesitate to switch carriers if a lower price can be found.
We understand brand loyalty, but it isn’t a good idea if that faithfulness ends up costing you potentially thousands of dollars a year. Now is a great time to shop around and find cheaper car insurance for business use.