The vehicle model on the policy is one of the biggest factors when shopping for low-priced auto insurance for real estate agents. Vehicles with lower performance, excellent safety ratings, or a positive history of liability claims will cost substantially less to insure than fast, unsafe models.
The list below outlines coverage costs for some of the most budget-friendly vehicles to buy coverage for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $4,329 |
| Ford Escape XLS 2WD | $4,640 |
| Chevrolet Impala LT | $5,016 |
| Ford F-150 FX4 Super Cab 4WD | $5,113 |
| Ford Explorer Limited 4WD | $5,123 |
| Honda Civic VP 4-Dr Sedan | $5,192 |
| Hyundai Elantra GLS 4-Dr Sedan | $5,285 |
| Toyota Camry SE | $5,295 |
| Toyota Prius | $5,304 |
| Nissan Rogue SL 2WD | $5,373 |
| Hyundai Sonata GLS 4-Dr Sedan | $5,379 |
| Dodge Grand Caravan SE | $5,392 |
| Dodge Ram Crew Cab ST 4WD | $5,471 |
| Toyota RAV4 Sport 2WD | $5,489 |
| Chevrolet Malibu LS | $5,497 |
| Honda Odyssey EX | $5,531 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $5,628 |
| Jeep Grand Cherokee Laredo 2WD | $5,656 |
| GMC Sierra 2500HD SLT Extended Cab 4WD | $5,666 |
| Chevrolet Equinox LS AWD | $5,656 |
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Price data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Pennsylvania minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Rate quotes do not factor in specific location information which can modify rates considerably.
Based upon the table data, we can expect cars like the Honda CR-V, Ford Escape, Chevrolet Impala, and Ford F-150 should be the cheapest vehicles to insure for realtors.
Finding out which company quotes the best car insurance rates for real estate agents takes a little more sweat than just getting one or two price quotes. Every auto insurer has their own formula to determine premium rates, so let’s rank the car insurance companies with the most affordable rates in Philadelphia.
Best Auto Insurance Prices for Realtors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | General Casualty | $718 |
| 2 | Travelers | $779 |
| 3 | USAA | $785 |
| 4 | Penn National | $816 |
| 5 | Erie | $816 |
| 6 | Auto-Owners | $993 |
| 7 | Amica | $1,012 |
| 8 | Atlantic States | $1,047 |
| 9 | Donegal Mutual | $1,069 |
| 10 | GEICO | $1,111 |
| 11 | State Farm | $1,162 |
| 12 | Allied | $1,190 |
| 13 | California Casualty | $1,234 |
| 14 | State Auto | $1,267 |
| 15 | Encompass | $1,344 |
| 16 | Harleysville | $1,396 |
| 17 | Mutual Benefit Group | $1,397 |
| 18 | Nationwide | $1,447 |
| 19 | Progressive | $1,457 |
| 20 | Chubb | $1,583 |
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General Casualty offers some of the cheapest car insurance rates in Philadelphia at around $718 a year. This is $939 less than the average policy premium paid by Pennsylvania drivers of $1,657. Travelers, USAA, Penn National, and Erie are also some of the cheaper Philadelphia, PA car insurance companies.
In the above example, if you currently have coverage with Penn National and switched to Travelers, you could earn yearly savings of around $37. Insureds with Erie could save as much as $37 a year, and Auto-Owners policyholders might reduce prices by as much as $214 a year.
To see how much you can save, click here to get a free quote or visit several of the following companies.
Be aware that those policy prices are averaged for all drivers and vehicles and and are not calculated with a specific location for real estate agents. So the car insurance company that is best for you may not even be in the top 30 companies in the list above. That emphasizes why you need to compare rates from as many companies as possible using your own specific driver and vehicle information.
Get discounts on Philadelphia auto insurance rates
Auto insurance companies that sell policies for real estate agents may also provide rate discounts that can lower rates by 35% or more if you meet certain criteria. Larger car insurance companies and some of their more popular discounts include:
- State Farm has savings for anti-theft, multiple autos, safe vehicle, Drive Safe & Save, accident-free, and multiple policy.
- American Family includes discounts for TimeAway discount, early bird, good driver, good student, multi-vehicle, and accident-free.
- AAA may have discounts that include anti-theft, AAA membership discount, multi-car, education and occupation, good driver, multi-policy, and good student.
- GEICO offers discounts including emergency military deployment, defensive driver, anti-theft, good student, air bags, membership and employees, and anti-lock brakes.
- Mercury Insurance policyholders can earn discounts including anti-theft, good student, age of vehicle, location of vehicle, good driver, ease of repair, and multi-car.
- Farmers Insurance discounts include multi-car, switch companies, early shopping, mature driver, electronic funds transfer, youthful driver, and homeowner.
- Progressive may include discounts for multi-policy, continuous coverage, good student, online signing, multi-vehicle, and homeowner.
The chart below visualizes the comparison of insurance costs with and without discounts applied to the premium. Data assumes a male driver, no claims, a clean driving record, Pennsylvania state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with vehicle safety, accident-free, anti-theft, claim-free, homeowner, and multiple vehicle discounts applied. When discounts are factored in, the average amount saved each year on car insurance for real estate agents is 28% or $517.
Full coverage rates compared to liability-only
Reducing premiums for car insurance should be important to the majority of drivers, and one of the quickest ways to lower the cost of insurance for real estate agents is to only buy liability coverage. The information below visualizes the comparison of auto insurance costs with full physical damage coverage compared to only buying liability only. The information is based on no claims or driving citations, $1,000 deductibles, single marital status, and no discounts are applied to the premium.
As an overall average, physical damage insurance costs $1,385 per year more than just buying liability only. At some point, every insured wonders if you should buy full coverage at all. There is no exact formula to eliminate physical damage coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than 10% of the replacement cost minus the deductible, then it could be time to drop full coverage.
A good deal can quickly turn bad
Philadelphia car insurance rates are impacted by many things that will increase or decrease the cost of having a policy. Simply turning a year older, marrying your spouse, or having an at-fault accident can trigger changes in premium that can cause some rates to be much cheaper than others. In addition to those changes, insurance companies change their prices as needed to adjust for gains or losses. Higher than normal claim frequency or severity may result in more expensive prices, while lower claims can result in cheaper Philadelphia car insurance rates.
To illustrate this example, the bar chart below demonstrates which company has the cheapest car insurance in Philadelphia, PA for a 30-year-old male driver with a clear driving record, no claims, and great credit. Based on his current situation, General Casualty offers the lowest car insurance rates in Philadelphia at $1,684 a year. This is $27 more than the average premium paid by Pennsylvania drivers of $1,657. Erie, Travelers, Penn National, and USAA are the remainder of the top five cheapest Philadelphia, PA auto insurance companies.
Now we will give the driver from above a claim, bad credit, and a traffic citation. Because every insurance company has their own process to establish rates, comparing quotes will most likely result in a slightly different list of affordable companies as shown below.
Auto-Owners now has the cheapest insurance rate in Philadelphia, PA with Atlantic States, Donegal Mutual, Travelers, and Penn National also having competitive pricing. This example shows why consumers need to spend some time comparing rates when trying to get the cheapest insurance rates for real estate agents.
Insurance prices are impacted by many factors and change dramatically, so the cheapest rate a year ago may now be an over-priced policy.