Locating cost effective auto insurance is confusing at best, and determining which company offers the most affordable car insurance rates for a company car involves additional perseverance. Every insurance company has a proprietary method to determine premium rates, so we’ll go over the car insurance companies with the overall cheapest rates in Boston, MA.
It’s important to know that Boston car insurance rates are calculated based on many things that can increase the price you have to pay for coverage. This price variability is why drivers need to do a thorough rate comparison to get the lowest insurance rates for a company car. Prices are calculated by many things and can increase or decrease at any time, so the best option when you last compared rates may now be quite expensive.
Best Cheap Insurance Rates in Massachusetts
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | State Farm | $733 |
| 2 | National Grange Mutual | $823 |
| 3 | GEICO | $850 |
| 4 | Commerce Group | $875 |
| 5 | OneBeacon | $876 |
| 6 | Progressive | $1,029 |
| 7 | Arbella | $1,030 |
| 8 | USAA | $1,034 |
| 9 | Norfolk and Dedham | $1,078 |
| 10 | Amica | $1,142 |
| 11 | Quincy Mutual | $1,294 |
| 12 | Travelers | $1,297 |
| 13 | Vermont Mutual | $1,323 |
| 14 | Hanover | $1,358 |
| 15 | Safety Group | $1,366 |
| 16 | MetLife | $1,397 |
| 17 | Peerless | $1,457 |
| 18 | Plymouth Rock | $1,603 |
| 19 | Liberty Mutual | $1,806 |
| 20 | Allstate | $1,808 |
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State Farm normally has some of the lowest car insurance rates in Boston at around $733 a year. This is $502 less than the average premium paid by Massachusetts drivers of $1,235. National Grange Mutual, GEICO, Commerce Group, and OneBeacon also rank well as some of the cheaper Boston, MA insurance companies.
As shown in the table above, if you are a policyholder with Commerce Group and switched to State Farm, you might realize a yearly savings of in the neighborhood of $142. Drivers with OneBeacon might save as much as $143 a year, and Progressive customers might see rate reductions of $296 a year.
To find out how your current rates compare, click here to start your custom quote or quote rates from the companies below.
Remember that these prices are averages across all insureds and vehicles and are not factoring in an exact vehicle garaging location for a company car. So the company that can offer the best rates for your situation may not even be in the list above. That points out the importance of why you need to get quotes using your own personal information and vehicle type.
For your employer’s vehicle, one of the largest components that aid in calculating the amount you pay each year for auto insurance is your zip code in Boston. Cities with larger populations tend to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower rates.
The following table lists the most expensive places in Massachusetts for a company car to purchase a policy in. Boston makes the list at #7 with the yearly price of $1,735 for coverage, which is about $145 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Revere | $2,192 |
| 2 | Brockton | $2,122 |
| 3 | Lynn | $1,979 |
| 4 | Springfield | $1,927 |
| 5 | Lawrence | $1,896 |
| 6 | Malden | $1,879 |
| 7 | Boston | $1,735 |
| 8 | Fall River | $1,717 |
| 9 | New Bedford | $1,716 |
| 10 | Worcester | $1,678 |
| 11 | Medford | $1,622 |
| 12 | Somerville | $1,616 |
| 13 | Quincy | $1,581 |
| 14 | Chicopee | $1,515 |
| 15 | Lowell | $1,511 |
| 16 | Weymouth | $1,506 |
| 17 | Haverhill | $1,468 |
| 18 | Taunton | $1,455 |
| 19 | Cambridge | $1,446 |
| 20 | Brookline | $1,428 |
| 21 | Peabody | $1,420 |
| 22 | Framingham | $1,404 |
| 23 | Newton | $1,364 |
| 24 | Methuen | $1,361 |
| 25 | Waltham | $1,354 |
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Rate information is estimated as specific Boston garaging address can alter premiums considerably.
The car, truck, or SUV that needs insurance is probably the largest consideration that determines whether or not you find the lowest-priced auto insurance for a company car. Vehicles with lower acceleration and performance, advanced safety features, or a low likelihood of liability claims will cost less to insure than high performance models. The information below presents insurance costs for the most cost-effective vehicles to insure.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $1,495 |
| Honda Accord EX 4-Dr Sedan | $1,500 |
| Ford Edge Limited 2WD | $1,542 |
| Honda Odyssey EX | $1,550 |
| Toyota RAV4 4WD | $1,570 |
| Jeep Grand Cherokee Laredo 2WD | $1,579 |
| Chevrolet Equinox LT 2WD | $1,570 |
| Chevrolet Silverado LS Extended Cab 4WD | $1,578 |
| Ford Escape Limited 4WD | $1,578 |
| Ford Explorer Eddie Bauer 4WD | $1,599 |
| Toyota Prius | $1,614 |
| Toyota Tacoma 4WD | $1,625 |
| Ford Focus SEL 4-Dr Sedan | $1,627 |
| Honda Civic LX-S 4-Dr Sedan | $1,636 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,682 |
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Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Massachusetts minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Rate information does not factor in specific zip code location which can decrease or increase coverage rates noticeably.
Based upon these rates, models like the Honda CR-V, Honda Accord, Ford Edge, and Honda Odyssey are likely to be a few of the most economical vehicles to insure for your employer’s vehicle.
Picking a good quality car insurance provider is hard considering how many companies provide coverage in Boston. The information shown next may help you decide which car insurance providers you want to consider when insurance shopping for a company car. The ratings below are only made up of the largest companies in the United States, so companies that have a smaller presence will not be included in this list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| The Hartford | 88 | 96 | 91 | 93% | A+ | 92.6 |
| Progressive | 84 | 94 | 99 | 90% | A+ | 92.4 |
| Travelers | 84 | 93 | 100 | 87% | A++ | 92.3 |
| State Farm | 84 | 93 | 95 | 87% | A++ | 91 |
| Farmers Insurance | 87 | 92 | 90 | 85% | A | 90.6 |
| Safeco Insurance | 85 | 91 | 87 | 86% | A | 88.4 |
| USAA | 71 | 93 | 98 | 87% | A++ | 88 |
| GEICO | 73 | 93 | 95 | 85% | A++ | 87.1 |
| Liberty Mutual | 72 | 91 | 97 | 83% | A | 86.4 |
| AAA Insurance | 85 | 85 | 88 | 86% | A | 85.8 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Get discounts on Boston insurance
Auto insurance companies that provide coverage for a company car may also give you price discounts that could reduce prices by 40% or more if you meet certain criteria. A few popular companies and their offered discounts are detailed below.
- Farm Bureau has discounts for youthful driver, safe driver, 55 and retired, multi-policy, multi-vehicle, and good student.
- MetLife may include discounts for defensive driver, claim-free, accident-free, multi-policy, good driver, and good student.
- Progressive policyholders can earn discounts including homeowner, online quote discount, good student, continuous coverage, and online signing.
- AAA offers discounts for good student, pay-in-full, education and occupation, anti-theft, and multi-car.
- American Family may have discounts that include good student, defensive driver, TimeAway discount, multi-vehicle, bundled insurance, and accident-free.
- GEICO offers premium reductions for multi-policy, defensive driver, five-year accident-free, air bags, and anti-lock brakes.
- State Farm discounts include multiple autos, defensive driving training, good student, anti-theft, student away at school, accident-free, and good driver.
The information below visualizes the comparison of yearly insurance costs with and without policy discounts. The premium estimates are based on a male driver, a clean driving record, no claims, Massachusetts state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with anti-theft, multiple policy, accident-free, safe-driver, homeowner, and vehicle safety discounts applied. When these discounts are applied, theamount saved on car insurance for a company car is 28% or $391.
The diagram below illustrates how your choice of deductibles can change yearly insurance costs when getting quotes for cheap insurance for a company car. Data assumes a married male driver, full physical damage coverage, and no policy discounts are applied.
A 50-year-old driver could pocket $232 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $352 by choosing a $1,000 deductible. Younger drivers, such as the Age 20 example, could save $772 or more by choosing a larger deductible amount. If you do decide to increase your deductibles, it is necessary to have enough in a savings account to be able to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
The importance of shopping around
Boston car insurance rates are influenced by many factors that may substantially change the cost of coverage. Simply having a birthday, becoming a homeowner, or getting a speeding ticket can trigger price changes resulting in some rates now being cheaper than competitors.
Also, companies change premium rates multiple times each year in order to offset underwriting gains or losses. Heavy losses can result in increased rates, while a profitable period may produce lower-priced Boston car insurance rates.
To illustrate this point, the chart below shows rates for the cheapest car insurance in Boston, MA for a 35-year-old female driver with a clear driving record, no claims, and solid credit. When comparing rates based on her current risk profile, State Farm might quote the cheapest car insurance rates in Boston at $933 annually. This is $302 less than the average rate paid by Massachusetts drivers of $1,235. National Grange Mutual, GEICO, Commerce Group, and OneBeacon are the rest of the cheapest Boston, MA auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates an accident claim, a lower credit rating, and a few blemishes on her driving record. Since each company has their own process to set their prices, analyzing rate quotes will most likely result in a new list of the cheapest car insurance companies in Boston as shown below.
Arbella now has the best price on car insurance in Boston, MA with USAA, Norfolk and Dedham, Amica, and National Grange Mutual now being in the top five. This example proves why consumers need to take the time to compare lots of rates when trying to get the most economical car insurance quotes for a company car. Auto insurance prices can be determined by many factors and can change substantially, so the cheapest option when you bought your policy may now be quite expensive.