The words "low-cost" and "auto insurance" probably shouldn't be used in the same sentence, especially when you are searching for the lowest insurance prices for real estate agents. To save some money, let's go over some of the factors that impact insurance prices, and find out if we can help you slash the price of your next policy.
The vehicle model requiring coverage is a large factor that determines if you can find affordable auto insurance for real estate agents. Vehicles with high performance, poor passenger safety features, or an increased likelihood of liability claims will cost significantly more to insure than more modest models. The next table illustrates car insurance costs for a selection of the most budget-friendly automobiles to insure in Washington.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$612|
|Dodge Grand Caravan SE||$688|
|Honda Odyssey LX||$734|
|Ford Explorer Limited 4WD||$739|
|Ford Escape Limited 4WD||$748|
|Honda Civic EX 4-Dr Sedan||$753|
|Toyota Corolla S||$767|
|Nissan Rogue SL 2WD||$776|
|Jeep Wrangler Rubicon 4WD 2-Dr||$778|
|Chevrolet Silverado LT Crew Cab 4WD||$780|
|GMC Sierra 3500HD SLT Extended Cab 2WD||$794|
|Chevrolet Equinox LS 2WD||$803|
|Toyota Tacoma Double Cab 4WD||$794|
|Chevrolet Impala LS||$799|
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Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Washington minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Table data does not factor in garaging location in Washington which can modify coverage rates significantly.
Based upon the table data, you can expect makes and models like the Honda CR-V, Dodge Grand Caravan, Honda Odyssey, Ford Explorer, and Ford Escape are most likely to be some of the less-costly vehicles to insure for realtors.
Deciphering which insurers offer the cheapest auto insurance rates for real estate agents in Washington requires a little more effort than just quoting one company's rates. Each auto insurer has their own formula to set policy rates, so let's take a look at the auto insurance companies that tend to have lower prices in Washington.
It's a good idea to know that Washington auto insurance rates are impacted by many things that may substantially change the price of coverage. Turning one year older, increasing deductibles, or getting a ticket for running a stop sign can trigger rate changes resulting in some companies being cheaper than competitors.
Best Car Insurance Prices for Realtors
|Rank||Company||Cost Per Year|
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Capital quotes some of the cheapest car insurance rates in Washington at around $761 each year. This is $651 less than the average price paid by Washington drivers of $1,412. Grange, Nationwide, PEMCO, and Travelers also are some of the most economical Washington insurance companies.
In the above rates, if you currently have coverage with Nationwide and switched to Capital, you could see a yearly price reduction of roughly $191. Policyholders with PEMCO might save as much as $213 a year, and Travelers insureds might see rate reductions of $277 a year.
To compare your rates to other Washington insurance companies, click here or visit any of the low-priced companies below.
It's important to note that these estimates are averaged for all types of insureds and vehicles and and are not calculated with a rate decrease for real estate agents. So the auto insurance company that has the cheapest price for you may not even be in the list above. That underscores the importance of why you need to get auto insurance quotes using your own individual information.
Difference between full coverage and liability only rates
Reducing premiums for auto insurance is important to the majority of drivers, and one common way to reduce the cost of insurance for real estate agents in Washington is to not buy comprehensive and collision coverage. The information below illustrates the difference between insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are factored in.
If we average the cost for all age groups, physical damage coverage on your policy costs an extra $1,242 per year over liability only. Many drivers may wonder if buying full coverage is a good investment. There is no definitive formula for excluding physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than around 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let's assume your vehicle's book value is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $8,000 after you pay the deductible. If you are paying in excess of $800 annually to have full coverage, then it could be time to drop full coverage.
Impact of careless driving on auto insurance rates
The easiest method to enjoy the cheapest auto insurance rates in Washington for realtors is to be a safe driver and not receive tickets or have accidents. The example below illustrates how traffic citations and at-fault claims can increase auto insurance costs for different categories of driver ages. Data assumes a married female driver, comp and collision included, $100 deductibles, and no other discounts are factored in.
In the chart above, the average cost of an auto insurance policy per year with no violations or accidents is $1,740. Factor in two speeding tickets and the average cost rises to $2,483, an increase of $743 each year. Then include two accidents along with the two speeding tickets and the annual cost of auto insurance for real estate agents in Washington jumps again to an average of $5,144. That's an increase of $3,403, or $284 per month, just for not driving carefully!
Why you should be shopping around
Washington auto insurance rates are impacted by many factors which can substantially change the price you pay. Turning one year older, buying a home instead of renting, or getting into an accident can cause premium changes that can now make some companies more affordable than the competition.
Not only may your situation change, but auto insurance companies modify rates as often as every three months to ensure their profitability. Significantly higher losses may result in higher rates, while less frequent claims may produce cheaper Washington car insurance rates.
For instance, the chart below shows a variety of companies that have the cheapest car insurance in Washington for a 40-year-old male driver with a good driving record, no prior claims, and a high credit rating. If we look at prices based on his current rating profile, Capital quotes the lowest car insurance rates in Washington at $777 annually. This is $635 less than the average rate paid by Washington drivers of $1,412. Grange, PEMCO, Nationwide, and Travelers also make the list of the cheapest Washington auto insurance companies.
In this example, we will give the driver in the first chart a couple of claims, bad credit, and a speeding ticket. Due to the fact that each insurance company uses their own method to establish rates, comparing insurance quotes may now present a different ranking of affordable Washington car insurance companies as shown below.
Mutual Enumclaw now has the lowest car insurance rate in Washington with California Casualty, The Hartford, Allied, and Chubb also being competitive. This demonstrates why it is critical to shop around with many companies to get affordable auto insurance rates for real estate agents. Rates are impacted by many different factors and change substantially, so the most economical option the last time you checked may now be quite expensive.