Finding good, cost effective car insurance is not always easy, and finding out which companies offer the lowest-priced insurance rates for a company car calls for even more rate comparisons. Each auto insurance company has their own formula to set premium rates, so we need to take a look at the lowest cost insurance companies in Los Angeles, CA.
Best Cheap Insurance Rates in California
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,109 |
| 2 | Wawanesa | $1,157 |
| 3 | Century National | $1,190 |
| 4 | CSAA | $1,222 |
| 5 | Nationwide | $1,226 |
| 6 | 21st Century | $1,366 |
| 7 | Grange | $1,433 |
| 8 | Mercury | $1,488 |
| 9 | GEICO | $1,513 |
| 10 | Allstate | $1,543 |
| 11 | Progressive | $1,558 |
| 12 | The Hartford | $1,575 |
| 13 | MetLife | $1,590 |
| 14 | Allied | $1,603 |
| 15 | State Farm | $1,699 |
| 16 | Unitrin | $1,699 |
| 17 | Esurance | $1,739 |
| 18 | Bristol West | $1,795 |
| 19 | Travelers | $1,806 |
| 20 | Farmers | $1,966 |
| Find Cheaper Rates Go | ||
USAA normally has some of the lowest car insurance rates in Los Angeles at around $1,109 per year. This is $542 less than the average premium paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide would also be considered some of the cheaper Los Angeles, CA insurance companies.
In the rate table above, if you buy coverage from CSAA and switched to USAA, you could see yearly savings of upwards of $113. California drivers with Nationwide might save as much as $117 a year, and 21st Century customers might reduce rates by $257 a year.
To find the cheapest coverage for you, click here to start your free quote or quote rates from the companies below.
Be aware that those policy rates are averaged for all ages of drivers and types of vehicles and and are not calculated with an exact vehicle garaging location for a company car. So the insurer that is best for you may not even be in the top 24 companies in the list above. That emphasizes why you need to get rate quotes from many companies using your own driver and vehicle profiles.
For your employer’s vehicle, one of the big criteria that determine the cost of insurance is your address in Los Angeles. Areas with more people or even just a higher incidence of claims are more likely to have higher rates, whereas less populated areas get the luxury of paying less.
The next table rates the priciest cities in California for a company car to buy an auto insurance policy in. Los Angeles is listed at #2 with an annual rate of $2,083 for the average policyholder, which is about $174 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Glendale | $2,121 |
| 2 | Los Angeles | $2,083 |
| 3 | San Francisco | $1,745 |
| 4 | Oakland | $1,687 |
| 5 | Sacramento | $1,669 |
| 6 | Stockton | $1,588 |
| 7 | San Bernardino | $1,580 |
| 8 | Long Beach | $1,578 |
| 9 | Garden Grove | $1,554 |
| 10 | Santa Clarita | $1,548 |
| 11 | Modesto | $1,532 |
| 12 | Fontana | $1,519 |
| 13 | Fresno | $1,517 |
| 14 | Moreno Valley | $1,506 |
| 15 | Anaheim | $1,488 |
| 16 | Riverside | $1,482 |
| 17 | Santa Ana | $1,439 |
| 18 | Huntington Beach | $1,402 |
| 19 | San Jose | $1,395 |
| 20 | Fremont | $1,389 |
| Compare Prices Now Go | ||
Prices are approximated as the vehicle garaging location can change price quotes substantially.
The car, truck, or SUV to be insured is a significant factor that determines whether or not you can buy low-cost coverage for a company car. Vehicles with lower performance, a great safety record, or a positive history of liability claims will cost significantly less to insure than high performance models. The next table showcases coverage prices for a number of the most budget-friendly vehicles to buy insurance for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $2,198 |
| Ford Escape XLT 4WD | $2,248 |
| Dodge Grand Caravan SE | $2,462 |
| Hyundai Elantra GLS Touring Station Wagon | $2,479 |
| Toyota RAV4 Sport 2WD | $2,599 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $2,646 |
| Toyota Prius | $2,672 |
| Ford Explorer XLT 2WD | $2,692 |
| Toyota Camry SE | $2,739 |
| Honda Odyssey Touring | $2,786 |
| Ford Focus S 4-Dr Sedan | $2,793 |
| Ford F-150 Lariat King Ranch 4WD | $2,836 |
| GMC Sierra SLE Crew Cab 2WD | $2,849 |
| Ford Edge SEL AWD | $2,866 |
| Chevrolet Impala LT | $2,933 |
| Ford Fusion S 4-Dr Sedan | $2,943 |
| Chevrolet Silverado LS Crew Cab 2WD | $2,973 |
| Toyota Camry Hybrid | $2,979 |
| Chevrolet Malibu LT | $2,996 |
| Honda Civic LX-S 4-Dr Sedan | $3,000 |
| Nissan Altima 2.5 S 4-Dr Sedan | $3,006 |
| Dodge Ram 2500 Crew Cab Laramie 4WD | $3,023 |
| Volkswagen Jetta SEL 4-Dr Sedan | $3,060 |
| Start a Quote Go | |
Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Premium amounts do not factor in specific location which can revise rates substantially.
Based upon the rates shown, we can expect makes and models like the Honda CR-V, Ford Escape, Dodge Grand Caravan, and Hyundai Elantra will definitely be the most budget-friendly vehicles to insure for your employer’s vehicle.
Price comparison of only insuring for liability
Reducing premiums for insurance is probably important to the majority of people, and an effective way to lower the cost of insurance for a company car is to not pay for full coverage. The illustration below compares insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data is based on no driving violations, no at-fault accidents, $250 deductibles, single marital status, and no discounts are applied to the premium.
As an average, full coverage costs an additional $2,314 per year more than insuring for liability only. Many drivers will wonder if you should buy full coverage. There is no set guideline of when to phase out physical damage coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is more than around 10% of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your vehicle’s replacement value is $12,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $11,000 after the policy deductible has been paid. If premium cost is more than $1,100 a year for full coverage, then it may be the right time to buy liability only.
There are a few cases where only buying liability is not recommended. If you still have a lienholder on your title, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not opt for liability only.
Ratings for California insurance companies
Choosing a highly-rated car insurance provider can be rather challenging considering how many different companies sell coverage in California. The rank data displayed below may help you choose which auto insurance companies to look at comparing prices from. These rankings include insurance companies that insure vehicles in the majority of U.S. states, so companies that may only write in California are not taken into consideration for these rankings.
Top 10 Large Car Insurance Companies in Los Angeles Ranked by Claims Service
- AAA of Southern California
- State Farm
- Esurance
- AAA Insurance
- Progressive
- Liberty Mutual
- GEICO
- Allstate
- Titan Insurance
- The Hartford
Top 10 Large Car Insurance Companies in Los Angeles Ranked by Value
- USAA
- American Family
- The Hartford
- AAA of Southern California
- Titan Insurance
- The General
- AAA Insurance
- State Farm
- Mercury Insurance
- Nationwide
Are you paying too much for car insurance in Los Angeles?
Los Angeles, CA insurance rates are determined by lots of factors that may substantially change the policy price. Simply getting older, adding a teenager to your policy, or getting a driving violation may prompt premium changes resulting in some rates now being much cheaper than others.
Not only may your risk profile change, but insurers change prices without warning in order to offset underwriting gains or losses. Significantly higher claims may cause rate hikes, while a better claims history can result in cheaper Los Angeles car insurance rates.
The bar chart below shows which companies have the cheapest car insurance in Los Angeles, CA for a 30-year-old male driver with no prior accidents, a clean driving record, and good financial standing. Based on his current rating profile, USAA might quote the lowest car insurance rates in Los Angeles at $1,872 annually. This is $221 more than the average premium paid by California drivers of $1,651. Wawanesa, CSAA, Nationwide, and Century National are also on the list of the cheapest Los Angeles, CA auto insurance companies.
Now we will give the driver from the first rate comparison a chargeable accident, less-than-perfect credit, and a few blemishes on his driving record. Since every car insurance company uses their own formula to determining premium rates, getting updated rate quotes could now result in a completely different list of the cheapest companies as shown below.
Grange now has the lowest price on auto insurance in Los Angeles, CA with Allied, Progressive, Mercury, and Allstate also having competitive pricing. This illustrates why California drivers need to perform a complete rate comparison when trying to get the lowest auto insurance rates for a company car. Auto insurance prices are calculated by many different factors and can change without notice, so the cheapest company the last time you checked may now be wasting a lot of money.
How to find low-cost auto insurance for a company car
It is possible to find better rates, and here are some money-saving suggestions that can help drivers buy low-cost car insurance.
- Save money by only buying liability coverage for older vehicles
- Choose a safer vehicle and pay lower rates
- Violations like speeding or DUI increase rates
- Do not get into accidents that are your fault
- Raise deductibles to save money
- Higher credit scores can equal lower rates
- Compare rates regularly to ensure the best deal
The last tip is notably significant, as we noted in this article. Auto insurance rates in Los Angeles fluctuate constantly, so don’t be hesitant to buy from a different company if a better deal can be had.
We understand brand loyalty, but we do not recommend it if that inflexibility results in costing you money that could be spent on other things. Spend a few minutes and compare rates and find cheaper insurance for a company car.
If you have questions and prefer to have a little guidance when comparing insurance rates for a company car, the professional agents shown below are a good start to aid you in deciding which auto insurance policy fits you best. To locate a Los Angeles car insurance agency in your neighborhood, click the link after the list or click here to compare price quotes.
- Kaz Achiwa – State Farm Insurance Agent
340 E Azusa St, Ste B – Los Angeles, CA 90012 – (213) 253-1210 - Kirk Farrel – State Farm Insurance Agent
7288 Sunset Blvd #205 – Los Angeles, CA 90046 – (323) 876-6653 - InsurAide Insurance Agency, Inc. (IIA)
1081 Westwood Blvd Suite 218 – Los Angeles, CA 90024 – (310) 208-3548 - Lewis and Lewis Insurance Agency, Inc.
11900 W Olympic Blvd #475 – Los Angeles, CA 90064 – (800) 966-6830 - Sean Paul Insurance Agency
3101 Silver Lake Blvd – Los Angeles, CA 90039 – (323) 667-9180