The words “economical” and “insurance” probably shouldn’t be used in the same sentence, especially when you are searching for the best car insurance for business use. Because it’s so expensive, let’s open your eyes to some situations that help determine auto insurance prices, and figure out some ideas to cut the cost of your next policy.
Trying to find affordable auto insurance is not always easy, and determining which company quotes the cheapest car insurance rates for business use takes even more shopping around. Each auto insurer has their own unique process for determining rates, so first let’s look at the rankings for the car insurance companies that tend to be cheaper in Milwaukee, WI.
It’s important to understand that Milwaukee car insurance rates are impacted by many factors that can increase the price of coverage. Improving your credit score, marrying your spouse, or getting a ticket for running a stop sign can trigger price changes resulting in some companies being cheaper than competitors.
Find Cheaper Car Insurance for Business Use
|Rank||Company||Cost Per Year|
|7||Rural Mutual Insurance||$772|
|11||West Bend Mutual||$899|
|15||Auto Club Group||$968|
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USAA may have some of the lowest car insurance rates in Milwaukee at around $598 per year. This is $563 less than the average policy premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Nationwide, and Pekin Insurance also rank well as some of the best Milwaukee, WI insurance companies.
In the above rates, if you are insured with Nationwide and switched to Partners Mutual, you could realize annual savings of in the neighborhood of $119. Wisconsin drivers with Pekin Insurance could save as much as $126 a year, and Rockford Mutual policyholders might lower prices by up to $128 a year.
Remember that these policy prices are averaged across all drivers and vehicles and and are not calculated with an exact vehicle garaging location for business use. So the auto insurance company that fits your needs best may not even be in the list above. That emphasizes why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.
The vehicle model you are insuring is probably the biggest factor when comparison shopping for economical insurance for business use. Vehicles with higher performance, poor safety ratings, or an increased likelihood of liability claims will cost significantly more to insure than more modest models.
The next list estimates auto insurance costs for some of the cheapest vehicles to buy insurance for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$1,641|
|Dodge Grand Caravan CV||$1,841|
|Ford Escape XLS 2WD||$1,882|
|Hyundai Elantra GLS Touring Station Wagon||$1,891|
|Ford Focus S 4-Dr Sedan||$1,905|
|Honda CR-V EX-L 4WD||$1,923|
|Toyota RAV4 4WD||$1,943|
|Toyota Camry SE||$2,045|
|Toyota Corolla LE||$2,055|
|Jeep Wrangler Sport 4WD 2-Dr||$2,080|
|GMC Sierra SLE Regular Cab 4WD||$2,083|
|Chevrolet Silverado LS Crew Cab 4WD||$2,090|
|Dodge Ram Quad Cab TRX4 Off Road 2WD||$2,120|
|Ford Edge Limited 2WD||$2,187|
|Volkswagen Jetta 2.0T Station Wagon||$2,199|
|Toyota Camry Hybrid||$2,222|
|Kia Optima SX||$2,228|
|Chevrolet Equinox LT 2WD||$2,228|
|Ford Explorer Eddie Bauer 2WD||$2,254|
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Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Premium amounts do not factor in vehicle garaging location which can raise or lower premium rates significantly.
Looking at the data, we can conclude that vehicles like the Honda Accord, Dodge Grand Caravan, Ford Escape, and Hyundai Elantra will be a few of the cheaper vehicles to insure for using your car for business. The cost of auto insurance will be more expensive because there is more exposure for business use, but overall those specific models will have the cheapest rates compared to all other vehicles.
Insuring your vehicle with the right insurer is hard considering how many choices you have in Milwaukee. The ranking data displayed below can help you select which car insurance providers to look at putting your business with. These ratings only include insurance companies that insure vehicles in the majority of U.S. states, so smaller companies that only insure vehicles in Wisconsin are not factored into the list.
Top 10 Major Auto Insurance Companies Overall in Milwaukee
- 21st Century
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- American Family
The illustration below demonstrates how deductible levels can change annual premium costs when getting quotes for cheap insurance for business use. The rates are based on a single male driver, full coverage, and no discounts are applied.
In the chart above, a 30-year-old driver could save $288 a year by switching from a $100 deductible up to a $500 deductible, or save $432 by selecting a $1,000 deductible. Even younger drivers, like the Age 20 category, can cut $852 or even more by choosing a higher deductible.
When choosing a higher deductible, it will be necessary to have additional funds squirreled away to allow you to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
The agents below can probably help you decide which coverages and limits you need, since lots of people like to have a professional recommendation when shopping around for cheaper insurance for using your car for business. It can be difficult to find the best coverage yourself, and getting professional guidance from a licensed agent can provide you comfort knowing your policy gives you adequate protection in the event of a claim.
To locate a Milwaukee auto insurance agent near you, click the button at the bottom or click here to get price quotes now.
- Adams Insurance Service Inc
11046 W Bluemound Rd – Milwaukee, WI 53226 – (414) 257-2070
- American Family Insurance – Joseph Setum Jr
3457 S Kinnickinnic Ave – Milwaukee, WI 53207 – (414) 769-0701
- Robertson Ryan and Associates, Inc
330 E Kilbourn Ave #650 – Milwaukee, WI 53202 – (414) 271-3575
How to find more affordable car insurance for business use
It is possible to find better rates, and here are some of the recommended penny-pinching ideas that can help you get low-cost auto insurance.
- Get cheaper liability coverage by choosing a safer vehicle
- Higher deductibles save money
- Tickets and violations raise rates
- On older vehicles, drop full coverage
- Having at-fault accidents will increase rates
- Drivers with good credit often pay less
- Ensure you have the best deal by shopping around regularly
The last idea is particularly necessary, as we pointed out in this article. Insurance rates in Milwaukee fluctuate constantly, so drivers shouldn’t hesitate to switch carriers if you find a cheaper price.
Sticking with a specific company is fine, but is isn’t recommended if that stubbornness costs you lots of money. It only take a few minutes to compare prices and find cheaper auto insurance for business use.