What Car Insurance is Cheapest for Real Estate Agents in Boston?

Establishing which insurers offer the cheapest auto insurance rates for real estate agents will take a little more sweat than just comparing a company or two.

Each auto insurance company has a different process for setting rates, so let’s look at the rankings for the auto insurance companies that tend to be cheaper in Massachusetts.

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Rankings for the cheapest Massachusetts auto insurance companies
Rank Company Cost Per Year
1 State Farm $733
2 National Grange Mutual $831
3 GEICO $868
4 Commerce Group $875
5 OneBeacon $885
6 Progressive $989
7 Arbella $1,040
8 USAA $1,076
9 Norfolk and Dedham $1,078
10 Amica $1,109
11 Vermont Mutual $1,284
12 Quincy Mutual $1,294
13 Travelers $1,310
14 Safety Group $1,326
15 Hanover $1,345
16 Peerless $1,442
17 MetLife $1,454
18 Plymouth Rock $1,556
19 Allstate $1,738
20 Liberty Mutual $1,806
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State Farm quotes some of the lowest car insurance rates in Boston at around $733 each year. This is $502 less than the average price paid by Massachusetts drivers of $1,235. National Grange Mutual, GEICO, Commerce Group, and OneBeacon would also be considered some of the cheaper Boston, MA insurance companies.

In this example, if you are a policyholder with Commerce Group and switched to State Farm, you might achieve an annual premium reduction of about $142. Massachusetts drivers with OneBeacon could save as much as $152 a year, and Progressive policyholders might realize rate reductions of up to $256 a year.

It’s important to note that these premium estimates are averages across all drivers and vehicles in Massachusetts and do not take into consideration an exact zip code location for real estate agents. So the auto insurance company that is most affordable for your situation may not even be in the list above. That affirms the importance of why you need to get car insurance quotes using your own specific driver and vehicle information.

One of the more important things that help determine the price you pay for insurance is where you live in Boston. Areas with more people or even just a higher incidence of claims tend to have more expensive car insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates get the luxury of paying less.

The illustration below ranks the highest-priced places in Massachusetts for real estate agents to purchase auto insurance in. Boston is listed at #7 with an annual cost of $1,735 for the average insured, which is around $145 each month.

How much does auto insurance cost in Boston?
Rank City Average Per Year
1 Brockton $2,143
2 Revere $2,127
3 Lynn $1,939
4 Lawrence $1,915
5 Malden $1,860
6 Springfield $1,851
7 Boston $1,735
8 New Bedford $1,716
9 Worcester $1,678
10 Fall River $1,666
11 Medford $1,638
12 Somerville $1,616
13 Quincy $1,581
14 Lowell $1,573
15 Chicopee $1,515
16 Cambridge $1,446
17 Weymouth $1,446
18 Haverhill $1,438
19 Framingham $1,432
20 Brookline $1,428
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Premium costs are estimated as specific Boston garaging address can increase or decrease coverage prices considerably.

The car, truck, or SUV requiring coverage is a large factor when comparing low-cost car insurance for real estate agents. Vehicles with high performance engines, poor passenger safety features, or a history of substantial liability claims will cost more to insure than safer, lower-performance models.

The table below illustrates insurance prices for some of the cheapest automobiles to buy insurance for.

Cheapest Vehicles to Insure in Boston, MA
Vehicle Insured Estimated Cost for Full Coverage
Honda CR-V LX 4WD $1,379
Ford Escape XLT 4WD $1,411
Honda Accord EX-L 4-Dr Sedan $1,501
Dodge Grand Caravan Hero $1,636
Toyota RAV4 Limited 4WD $1,641
Toyota Tacoma 4WD $1,688
Ford Edge Sport 2WD $1,723
Toyota Prius $1,726
Chevrolet Equinox LTZ AWD $1,752
Kia Optima LX $1,762
Nissan Rogue S 2WD $1,752
Ford Explorer XLT AWD $1,755
Ford Focus S 4-Dr Sedan $1,800
Ford F-150 FX4 4WD $1,823
Chevrolet Impala LT $1,839
Chevrolet Silverado 2500HD LT Crew Cab Diesel 4WD $1,871
Toyota Camry SE $1,884
Toyota Corolla S $1,891
Honda Odyssey EX-L $1,884
Chevrolet Silverado 3500HD LT Crew Cab Diesel 2WD $1,903
Hyundai Sonata GLS 4-Dr Sedan $1,911
Jeep Grand Cherokee Limited 4WD $1,921
Chevrolet Malibu LTZ $1,931
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Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Massachusetts minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Information does not factor in vehicle location which can impact coverage prices considerably.

Looking at the data, we can expect models like the Honda CR-V, Ford Escape, and Honda Accord are likely to be the most affordable vehicles to insure for realtors.

How accidents and violations affect rates

The easiest method to snag affordable auto insurance prices in Boston for realtors is to be a careful driver and avoid accidents and traffic citations. The chart below illustrates how speeding tickets and at-fault collisions can drive up annual premium costs for each age group. The data assumes a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are taken into consideration.

The data charted above shows the average cost of car insurance in Massachusetts per year with no violations or accidents is $2,187. Get written up for one speeding ticket and the average cost rises to $2,511, an increase of $324 each year. Then include one accident along with the one speeding ticket and the annual cost of auto insurance for real estate agents increases to an average of $3,441. That’s an increase of $1,255, or $105 per month, just for not driving safely!

The example below shows how different deductible levels can impact insurance prices when quoting cheap insurance for real estate agents. Data assumes a married female driver, full coverage, and no discounts are applied.

As shown above, a 30-year-old driver could cut expenses by $358 a year by increasing from a $100 deductible up to a $500 deductible, or save $538 by changing to a $1,000 deductible. Even younger drivers, like the age 20 example, could shave $762 or even more by choosing a larger deductible amount.

If you make the decision to raise deductibles, it will be required to have enough savings to offset the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.

Full coverage versus liability-only

Finding the cheapest auto insurance is the goal of most drivers, and one of the best ways to pay less for insurance for real estate agents is to only buy liability coverage. The information below shows the difference between auto insurance rates with liability coverage only compared to full coverage. The data is based on no claims, a clean driving record, $100 deductibles, drivers are not married, and no discounts are taken into consideration.

Averaged out for all age groups, full coverage on your policy costs $2,612 per year more than carrying just liability coverage. At some point, about every driver wonders if buying full coverage is worth the expense. There is no definitive rule to stop buying comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let’s assume your vehicle’s book value is $4,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $3,500 after paying your policy deductible. If you are paying in excess of $350 a year for physical damage coverage, the it may be a good time to stop paying for full coverage.

There are some scenarios where dropping physical damage coverage is not in your best interest. If you haven’t satisfied your loan, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should keep full coverage.

Ideas to find the cheapest insurance for real estate agents

The list below shows some of the better penny-pinching suggestions that can help you quote cheaper auto insurance.

That final tip is very critical, as was pointed out in this article. Coverage rates adjust often, so don’t be unwilling to buy a different policy if you can find a cheaper rate. Loyalty to a specific company is fine, but it’s not recommended if that dedication is costing a small fortune year after year. Take a couple minutes and compare rates and find cheaper car insurance for real estate agents in Boston.

The agencies below can provide answers to your questions and help you determine which policy fits your needs best, since lots of drivers aren’t clear which coverage they need and would like to have some professional guidance when shopping around for cheaper insurance for real estate agents. It can be complicated to find the best rates on your own, and getting advice from a licensed Massachusetts insurance agent can bring peace of mind knowing your policy gives you enough protection.

To find an auto insurance agency in your neighborhood, click the button link following the list or click here to compare price quotes now.

Knapp Schenck Insurance Services
1 India St #204Boston, MA 02109(617) 742-3366

Metro Boston Insurance Agency
78 Bennington StBoston, MA 02128(617) 561-3191

KW Insurance
1361 Cambridge StCambridge, MA 02141(617) 492-4150

Thomas J. Bennett Insurance Agency
480 Washington StDorchester Center, MA 02124(617) 825-9676

A-Affordable Insurance Agency, Inc.
55 Union StBoston, MA 02108(617) 924-4915

More insurance agents in Boston, MA