How Much are Tampa Auto Insurance Rates for Business Use?

Wouldn’t it be perfect if we could tell you instantly the one company that has the best insurance prices for business use? It’s just not that easy, however, as there are a whole bunch of unknown factors such as what physical damage coverage deductibles you want, whether you are single or married, whether or not you have had gaps between policies, and your gender, that all impact the cost of your policy. This article will cover these topics and also should give you some help in finding cheaper rates.

The vehicle model on the policy is a significant factor when comparing low-cost auto insurance for business use. Vehicles with high performance engines, poor crash test ratings, or a history of substantial liability claims will cost much more to insure than safer, lower-performance models. The next table estimates car insurance premiums for some of the most affordable automobiles to buy coverage for.

Cheapest Vehicles to Insure in Tampa, FL
Insured Vehicle Estimated Cost for Full Coverage
Ford Escape XLS 2WD $1,992
Jeep Wrangler Sport Islander Package 4WD 2-Dr $2,191
Volkswagen Jetta 2.0T Station Wagon $2,325
Honda CR-V EX-L 4WD $2,338
Chevrolet Malibu Hybrid $2,357
Toyota RAV4 Sport 2WD $2,362
Hyundai Elantra Blue 4-Dr Sedan $2,434
Ford Focus SEL 4-Dr Sedan $2,439
Ford Edge SE 2WD $2,511
Chevrolet Equinox LTZ AWD $2,524
Chevrolet Silverado LT Regular Cab $2,527
Hyundai Sonata GLS 4-Dr Sedan $2,536
Ford F-150 XLT Regular Cab 4WD $2,562
Dodge Ram Crew Cab SLT 2WD $2,572
Honda Accord LX-S 2-Dr Coupe $2,649
Kia Optima SX $2,694
Toyota Prius $2,713
Dodge Ram 3500 Mega Cab Laramie 2WD $2,735
Chevrolet Silverado 2500HD LT Crew Cab 2WD $2,815
Honda Odyssey EX $2,831
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Data rating is based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Estimates do not factor in specific garaging location which can affect price quotes significantly.

Looking at the rates, makes and models like the Ford Escape, Jeep Wrangler, Volkswagen Jetta, Honda CR-V, and Chevrolet Malibu will be some of the most budget-friendly vehicles to insure for using your car for business. The price of auto insurance will tend to be more expensive anyway just due to the fact that there is a higher risk for business use, but overall those vehicles will probably have the cheapest auto insurance rates compared to other vehicles.

For using your car for business, one of the more important factors that are looked at to determine the amount you pay each year for auto insurance is where your residence is. Areas with increased crime or more people tend to have more expensive auto insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower coverage costs.

The information below ranks the most expensive areas in Florida for business use in which to buy car insurance. Tampa is listed at #8 with a yearly cost of $2,558 for the average insured, which is approximately $213 per month.

How much is auto insurance in Tampa, FL?
Rank City Annual Premium
1 Hialeah $3,630
2 Miami $3,273
3 Miami Gardens $3,149
4 Miami Beach $3,013
5 Miramar $2,629
6 West Palm Beach $2,599
7 Pompano Beach $2,595
8 Tampa $2,558
9 Davie $2,548
10 Hollywood $2,526
11 Fort Lauderdale $2,500
12 Pembroke Pines $2,481
13 Coral Springs $2,474
14 Brandon $2,368
15 Clearwater $2,238
16 St. Petersburg $2,219
17 Spring Hill $2,102
18 Orlando $2,090
19 Port St. Lucie $1,994
20 Jacksonville $1,980
21 Cape Coral $1,917
22 Lakeland $1,827
23 Palm Bay $1,803
24 Tallahassee $1,801
25 Gainesville $1,696
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Rate information is approximated as the garaging address in Tampa can increase or decrease premiums substantially.

Figuring out which company has the most affordable auto insurance rates for business use takes a bit more effort in order to find the best policy. Every insurance company uses a different method to set their prices, so let’s rank the most budget-friendly auto insurance companies in Tampa.

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Cheapest insurance companies in Florida
Rank Company Cost Per Year
1 USAA $986
2 Amica $1,712
3 Electric $1,764
4 Progressive $1,793
5 Travelers $1,945
6 Mercury $1,973
7 Allied $2,004
8 Esurance $2,020
9 State Farm $2,047
10 Auto-Owners $2,085
11 GEICO $2,108
12 Allstate $2,317
13 21st Century $2,373
14 Windhaven Insurance $2,627
15 MetLife $2,900
16 Safeco $3,016
17 Liberty Mutual $3,039
18 Hanover $3,054
19 United Automobile $3,422
20 Direct General $3,942
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USAA may offer some of the most affordable car insurance rates in Tampa at around $986 each year. Amica, Electric, Progressive, and Travelers also are some of the cheapest Tampa, FL car insurance companies.

As shown above, if you are currently insured with Travelers and switched to Amica, you could see an annual savings of around $233. Drivers with Mercury could save as much as $261 a year, and Allied customers might lower prices by up to $292 a year.

Bear in mind that those estimates are averages across all types of insureds and vehicles and and are not calculated with a vehicle location for business use. So the company that can offer you the lowest price may not even be in the top 21 companies in the list above. That is why you need to get auto insurance quotes using your own driver and vehicle profiles.

How to get discounts on Tampa auto insurance

Save on auto insurance for using your car for business in TampaCar insurance companies that offer quotes for business use may also give you special discounts that can reduce rates by 30% or more if you can meet the requirements. A list of companies and their offered discounts are detailed below.

The chart below visualizes the comparison of insurance costs with and without discounts applied to the premium. Data assumes a female driver, no violations or claims, Florida state minimum liability limits, comp and collision included, and $250 deductibles.

The first bar for each age group shows premium with no discounts. The second bar shows the rates with anti-theft, defensive driving course, claim-free, accident-free, homeowner, and multiple policy discounts applied. When these discounts are applied, the average savings per year on auto insurance for business use is 28% or $574.

Illustration showing the impact of accidents and violations

One of the best ways to snag low auto insurance prices in Florida for using your car for business is to be a good driver and not receive tickets or have accidents. The information below highlights how traffic violations and fender-benders drive up premium costs for different insured age categories. The rate quotes are based on a single female driver, full coverage, $250 deductibles, and no discounts are applied.

The data charted above shows the average cost of auto insurance in Tampa per year with no accidents or violations is $2,823. Factor in one speeding ticket and the average cost surges to $3,198, an increase of $376 each year. Now add in two accidents along with the one speeding ticket and the 12-month cost of auto insurance for business use goes up to an average of $6,445. That’s an increase of $3,622, or $302 per month, just for not driving responsibly!

Comparing rates can save you money

Tampa, FL auto insurance rates are influenced by many factors that can increase the cost of your policy. Getting older, buying a new vehicle, or having an at-fault accident can produce rate changes that can now make some companies cheaper than others. Not only that, but auto insurance companies amend pricing as often as every quarter in order to protect their financial rating. An unexpected high level of claims can result in higher rates, while a better loss history can result in cheaper Tampa car insurance rates.

To help illustrate this point, the data below shows the company with the cheapest car insurance in Tampa, FL for a 35-year-old male driver with a clean driving record, no accidents, and excellent credit. If we look at prices based on his personal risk profile, USAA has the most affordable car insurance rates in Tampa at $1,533 per year. This is $915 less than the average premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers are the remainder of the cheapest Tampa, FL auto insurance companies.

In this example, we will give the driver in the first chart a claim, bad credit, and a few traffic violations. Since each auto insurance company has their own process for filing rates in each state, comparing rates most likely will result in a significantly different list of affordable companies as shown below.

USAA now has the lowest price on auto insurance in Tampa, FL with Mercury, Esurance, State Farm, and GEICO also having competitive pricing. This shows why it is critical to perform a complete rate comparison when trying to get the most affordable insurance quotes for business use.

Insurance rates can be altered by many factors and change frequently, so the lowest-price company the last time you checked may now not even be in the top five.