Who Has Affordable Car Insurance for Business Use in Philadelphia?

For using your car for business, one of the more important things that are looked at to determine the amount you pay for auto insurance is where you live. Areas with more people or more claims are more likely to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims have the luxury of lower rates.

The following table rates the highest-priced places in Pennsylvania for business use to buy an auto insurance policy in. Philadelphia is ranked at #1 with a yearly premium of $1,977 for the average insurance policy, which is around $165 each month.

How much does auto insurance cost in Philadelphia?
Rank City Annual Premium
1 Philadelphia $1,977
2 Drexel Hill $1,549
3 Levittown $1,407
4 Chester $1,379
5 Norristown $1,268
6 Reading $1,099
7 Allentown $1,097
8 Municipality of Monr $1,091
9 Easton $1,091
10 Erie $1,082
11 Wilkes-Barre $1,079
12 Bethlehem $1,077
13 Pittsburgh $1,063
14 New Castle $1,057
15 Plum $1,047
16 Hazleton $1,046
17 Altoona $1,042
18 Scranton $1,039
19 Harrisburg $1,015
20 Lancaster $995
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Rates are estimated as the garaging address in Philadelphia can influence rates considerably.

Establishing which company has the cheapest insurance rates for business use will take a tad more effort in order to find the lowest price quote. Every car insurance company has a different formula for setting prices, so let’s take a look at the insurance companies that tend to be cheaper in Pennsylvania.

It’s important to know that Philadelphia insurance rates are influenced by many factors which can significantly increase or decrease your annual premium. Simply having another birthday, having a teenage driver, or getting a reckless driving citation can trigger changes in premium that can make some companies cheaper than others.

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Cheapest insurance companies in Pennsylvania
Rank Company Cost Per Year
1 General Casualty $726
2 Travelers $803
3 Penn National $808
4 Erie $816
5 USAA $817
6 Auto-Owners $963
7 Amica $992
8 Atlantic States $1,047
9 Donegal Mutual $1,091
10 GEICO $1,145
11 Allied $1,190
12 State Farm $1,210
13 California Casualty $1,234
14 State Auto $1,241
15 Encompass $1,398
16 Progressive $1,414
17 Harleysville $1,438
18 Mutual Benefit Group $1,439
19 Nationwide $1,447
20 Chubb $1,598
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General Casualty quotes some of the lowest car insurance rates in Philadelphia at around $726 annually. This is $931 less than the average price paid by Pennsylvania drivers of $1,657. Travelers, Penn National, Erie, and USAA also are some of the best Philadelphia, PA car insurance companies.

As illustrated above, if you currently have a policy with Travelers and switched to General Casualty, you could see a yearly price reduction of in the neighborhood of $77. Insureds with Penn National might save as much as $82 a year, and Erie policyholders might realize rate reductions of up to $90 a year.

Remember that these prices are averaged for all insureds and vehicles and and are not figured with an exact location for business use. So the company that can offer the best rates for your situation may not even be in the top 30 companies in the list above. That affirms the importance of why you need to get car insurance quotes using your own specific driver information and vehicle.

The make and model of vehicle you are seeking coverage for is probably the most important factor when shopping for economical coverage for business use. Vehicles with lower performance, an excellent safety record, or a low likelihood of having liability claims will cost significantly less to insure than adrenaline junky models.

The information below estimates auto insurance prices for a selection of the most economical vehicles to insure.

Cheapest Vehicles to Insure in Philadelphia, PA
Make and Model Estimated Cost for Full Coverage
Ford Escape Limited 4WD $4,095
Jeep Wrangler Sahara 4WD 2-Dr $4,241
Volkswagen Jetta 2.0T Station Wagon $4,417
Chevrolet Equinox LS 2WD $4,475
Chevrolet Impala LT $4,482
Ford F-150 Lariat Super Cab 4WD $4,563
Dodge Grand Caravan Crew $4,570
Dodge Ram Quad Cab ST 2WD $4,563
Chevrolet Malibu LT $4,569
Toyota Camry XLE $4,709
Honda CR-V EX-L 2WD $4,744
Toyota Prius $4,788
Jeep Grand Cherokee Limited 4WD $4,797
Ford Explorer XLT 4WD $4,854
Chevrolet Silverado 3500HD LT Crew Cab 2WD $4,881
Honda Odyssey EX $5,026
Toyota Camry Hybrid $5,119
Nissan Altima 2.5 4-Dr Sedan $5,123
Hyundai Elantra Blue 4-Dr Sedan $5,296
Ford Edge Limited AWD $5,393
Toyota RAV4 2WD $5,481
GMC Sierra SL Extended Cab 2WD $5,489
Nissan Rogue S 2WD $5,499
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Prices based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Pennsylvania minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Price information does not factor in the specific area where the vehicle is garaged which can modify premiums greatly.

Based on these rates, we can tell that cars like the Ford Escape, Jeep Wrangler, and Volkswagen Jetta are most likely to be some of the most budget-friendly vehicles to insure for using your car for business. Car insurance rates will tend to be more expensive because of the fact that there is a higher risk for business use, but overall those particular vehicles will probably have the lowest insurance prices that you’ll find.

Get discounts on Philadelphia auto insurance

Save on insurance for using your car for business in PhiladelphiaCar insurance companies that provide policies for business use may additionally offer premium discounts that could reduce prices by as much as 35% if you meet certain criteria. Popular insurance companies and a summarized list of policyholder discounts are detailed below.

The illustration below illustrates the comparison of insurance costs with and without policy discounts. The premiums are based on a male driver, no claims or violations, Pennsylvania state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with passive restraint, multiple policy, homeowner, accident-free, safe-driver, and claim-free discounts applied. When discounts are factored in, theamount saved on insurance for business use is 28% or $585.

Cost comparison with and without full coverage

Buying cheaper insurance is important to most vehicle owners, and one good way to pay less for insurance for business use is to not pay for full coverage. The information below shows the comparison of insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on no claims, a clean driving record, $100 deductibles, single marital status, and no other discounts are factored in.

If averaged out across all ages, full coverage on your policy costs an additional $2,103 per year more than insuring for liability only. Many drivers will wonder if paying for full coverage is worth it. There is no exact formula to eliminate physical damage coverage on your policy, but there is a general convention. If the annual cost of having full coverage is more than 10% of replacement cost minus your deductible, then you might want to consider buying only liability coverage.

For example, let’s say your vehicle’s book value is $5,500 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $4,500 after the policy deductible has been paid. If you are paying more than $450 a year for physical damage coverage, then you might want to consider buying only liability coverage.

There are a few situations where only buying liability is not financially feasible. If you still have a loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

If you aren’t sure which coverage to buy and prefer to get some professional advice when trying to find lower insurance rates for business use, the professional agents shown below can probably aid you in deciding which insurance coverage will be best for you. To find a Philadelphia insurance agent close to where you live, click the button after the list or click here to compare price quotes.

More Philadelphia, PA insurance agents

Ideas for finding low-cost auto insurance for business use

Below you’ll find a few thrifty solutions that can help Pennsylvania drivers buy more affordable coverage.

The last item on the list is very necessary, as we hit on in this write-up. Car insurance rates fluctuate constantly, so don’t be hesitant to change to a new company if a more affordable price is available. Being loyal to a particular company is commendable, but it isn’t a good idea if that inflexibility results in costing you money that could be used for better things. It takes less than five minutes to compare prices and find cheaper auto insurance for business use in Philadelphia.