Compare Accountant & Comptroller Car Insurance Rates in 2024 (Top 10 Companies)
Compare the best companies for accountant and comptroller car insurance rates, including Farmers, State Farm, and American Family. Explore our analysis to identify the ideal coverage for your specific needs.
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Michael Vereecke
Commercial Lines Coverage Specialist
Michael Vereecke is the president of Customers First Insurance Group. He has been a licensed insurance agent for over 13 years. He also carries a Commercial Lines Coverage Specialist (CLCS) Designation, providing him the expertise to spot holes in businesses’ coverage. Since 2009, he has worked with many insurance providers, giving him unique insight into the insurance market, differences in ...
Commercial Lines Coverage Specialist
UPDATED: Feb 13, 2024
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Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Feb 13, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Pros & Cons
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Compare best companies for accountant & comptroller car insurance rates with Farmers, State Farm, and American Family to find the best coverage. Evaluate tailored options, with Farmers Insurance standing out for its specialized discounts and competitive rates.
- Analyze car insurance rates for accountants and comptrollers, focusing on key factors.
- Explore top insurance companies for accountants and comptrollers, Farmers, State Farm, and American Family.
- Understand why these companies offer competitive rates and tailored coverage.
Certified public accountants (CPAs), comptrollers, and accountants are all considered financial professionals; however, there are many differences between the specific roles they play in their specific occupations. To become a CPA or any financial advisor, you will need to follow a specific course of action.
Company | Rank | See Pros/Cons | Professional Discount | Occupation Affinity | Best For |
---|---|---|---|---|---|
#1 | Farmers | Up to 18% | Up to 12% | Specialized Discounts | |
#2 | State Farm | Up to 13% | Up to 9% | Financial Stability | |
#3 | American Family | Up to 11% | Up to 7% | Specialized Coverage | |
#4 | Allstate | Up to 9% | Up to 6% | Deductible Rewards | |
#5 | Progressive | Up to 7% | Up to 11% | Customized Policies | |
#6 | Geico | Up to 11% | Up to 14% | Online Accessibility | |
#7 | Liberty Mutual | Up to 13% | Up to 9% | Car Replacement | |
#8 | Hartford | Up to 14% | Up to 7% | RecoverCare Assistance | |
#9 | Travelers | Up to 9% | Up to 5% | Driver Discount | |
#10 | Safeco | Up to 7% | Up to 13% | Flexible Policies |
Though requirements vary from state to state, many of the basic requirements are standard no matter what state a CPA works in. Following and meeting the requirements can lead to a rewarding job in the accounting field. You may also want to see how other occupations affect car insurance as well.
In this article, we’ll go over auto insurance and other types of insurance that are relevant to the accounting industry. Enter your ZIP code in the FREE quote tool above to compare rates and quotes from top companies.
#1 – Farmers: Unveiling Specialized Discounts
Among the top choices for accountants and comptrollers, Farmers Insurance stands out with specialized discounts, tailored coverage, and competitive rates, making it the optimal choice for financial professionals.
Dani Best Licensed Insurance Producer
Pros
- Specialized discounts: Farmers offer specialized discounts, providing potential cost savings for policyholders.
- Extensive coverage options: The company provides a range of coverage options to meet various needs.
- Strong customer service: Farmers is known for its customer service, offering support to policyholders.
Cons
- Potentially higher rates: Some customers may find that Farmers’ rates are comparatively higher than other providers.
- Limited online presence: Farmers’ online tools and resources may not be as advanced as some competitors.
Read more: Farmers Car Insurance Review
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#2 – State Farm: Nurturing Financial Stability
Pros
- Financial stability: Known for its financial stability, instilling confidence in policyholders.
- Personalized service: The company emphasizes personalized service, with a network of local agents.
- Variety of discounts: Offers a variety of discounts, potentially lowering premium costs.
Cons
- Rates may be higher: Some individuals may find State Farm’s rates to be on the higher side.
- Limited online quoting: The online quoting process may not be as seamless as with other companies.
Read more: State Farm Car Insurance Review
#3 – American Family: Crafting Specialized Coverage
Pros
- Specialized coverage: American Family offers specialized coverage options catering to specific needs.
- Competitive rates: The company is known for providing competitive rates, potentially saving customers money.
- Positive customer feedback: American Family has received positive feedback for its customer service.
Cons
- Limited availability: American Family’s coverage may not be available in all states.
- Limited online features: The online platform may lack some features compared to other providers.
Read more: American Family Car Insurance Review
#4 – Allstate: Embracing Deductible Rewards
Pros
- Deductible rewards: Allstate offers deductible rewards for safe driving behavior.
- Wide range of coverage: The company provides a comprehensive range of coverage options.
- User-friendly online tools: Allstate’s online tools and mobile app are user-friendly.
Cons
- Relatively higher premiums: Premiums with Allstate may be higher compared to some competitors.
- Mixed customer service reviews: Some customers have reported mixed experiences with Allstate’s customer service.
Read more: Allstate Car Insurance Review
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#5 – Progressive: Tailoring With Customized Policies
Pros
- Customized policies: Progressive is known for offering customizable policies to fit individual needs.
- Snapshot program: The Snapshot program rewards safe driving habits with potential premium discounts.
- Strong online presence: Progressive’s online platform is comprehensive and user-friendly.
Cons
- Rates may increase: Some customers have reported an increase in rates over time.
- Limited agent interaction: Progressive’s focus on online services may mean less face-to-face interaction.
Read more: Progressive Car Insurance Review
#6 – Geico: Mastering Online Accessibility
Pros
- Online accessibility: Geico excels in online accessibility, allowing customers to manage policies and claims easily.
- Competitive rates: Geico is often praised for providing competitive rates and potential savings.
- User-friendly mobile app: The mobile app enhances the customer experience with convenient access to policy information.
Cons
- Limited agent interaction: Geico’s online-focused approach may result in limited face-to-face interaction with agents.
- Discounts vary: While Geico offers various discounts, the availability and eligibility criteria may vary.
Read more: Geico Car Insurance Review
#7 – Liberty Mutual: Driving Confidence With Car Replacement
Pros
- Car replacement coverage: Liberty Mutual offers car replacement coverage, providing a new vehicle in the event of a total loss.
- Comprehensive coverage options: The company provides a range of coverage options to meet diverse needs.
- Multi-policy discounts: Liberty Mutual offers discounts for bundling auto and home insurance policies.
Cons
- Potentially higher premiums: Some customers may find Liberty Mutual’s premiums to be on the higher side.
- Mixed Customer service reviews: Reviews on customer service are mixed, with some reporting less satisfactory experiences.
Read more: Liberty Mutual Car Insurance Review
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#8 – Hartford: Extending Support Through Recover Care Assistance
Pros
- Recover care assistance: Hartford provides RecoverCare assistance, covering essential living expenses after an accident.
- AARP partnership: Hartford partners with AARP, offering specialized coverage and discounts to members.
- Lifetime renewability: Policyholders have the option of lifetime renewability, ensuring continuous coverage.
Cons
- Limited availability: Hartford’s coverage may not be available to everyone, as it is often associated with AARP membership.
- Potential for higher rates: Some individuals may find Hartford’s rates to be higher compared to other providers.
#9 – Travelers: Steering Towards Savings With Driver Discount
Pros
- Driver discount programs: Travelers offers driver discount programs, potentially lowering premiums for safe driving habits.
- Multi-policy discounts: Policyholders can benefit from discounts by bundling auto and home insurance.
- Strong financial stability: Travelers is known for its financial stability, instilling confidence in policyholders.
Cons
- Limited local agents: Travelers may have fewer local agents, impacting face-to-face interactions.
- Discounts eligibility: Eligibility for certain discounts may vary, and not all customers may qualify.
Read more: Travelers Car Insurance Review
#10 – Safeco: Adapting to Your Needs With Flexible Policies
Pros
- Flexible policies: Safeco is praised for its flexible policies, allowing customers to tailor coverage to their specific needs.
- Multi-car discounts: Safeco offers discounts for insuring multiple vehicles, potentially reducing overall costs.
- 24/7 claims assistance: Customers have access to 24/7 claims assistance for quick and efficient claims processing.
Cons
- Limited coverage options: Safeco may not provide as extensive coverage options as some other competitors.
- Potential for rate increases: Some customers have reported rate increases over time, impacting affordability.
Read more: Safeco Car Insurance Review
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Coverage Rate for Accountant and Comptroller Car Insurance
In this analysis of coverage rates designed for accountants and comptrollers, we explore the minimum and full coverage options offered by leading insurance companies.
Insurance Company | Minimum Coverage | Full Coverage |
---|---|---|
Farmers | $53 | $139 |
State Farm | $33 | $86 |
American Family | $43 | $117 |
Allstate | $62 | $160 |
Progressive | $42 | $105 |
Geico | $30 | $80 |
Liberty Mutual | $66 | $174 |
Hartford | $44 | $113 |
Travelers | $37 | $99 |
Safeco | $27 | $71 |
Professionals in these fields can gain valuable insights into average monthly rates, aiding them in making informed decisions about their car insurance. Among the featured insurers, Farmers offers a minimum coverage rate of $53 and a full coverage rate of $139, while State Farm provides rates of $33 for minimum coverage and $86 for full coverage.
American Family, another top contender, presents minimum coverage at $43 and full coverage at $117. These rates extend across other prominent companies such as Allstate, Progressive, Geico, Liberty Mutual, Hartford, Travelers, and Safeco.
This comprehensive overview empowers accountants and comptrollers to choose insurance options that best align with their budget and coverage requirements, ensuring a tailored decision-making process.
How does being a financial professional affect car insurance rates?
Whether you are a CPA, a comptroller, or an accountant, the car insurance industry will consider your occupation when setting your car insurance rates. Even though people in these positions have been shown to be responsible drivers, the fact that their income bracket is slightly higher than some occupations put their car insurance rates in the medium to high range.
What kinds of insurance do you need if you run an accounting firm?
Like all business owners, you have an accounting firm, you’ll need business insurance. Your exact needs will vary based on a number of factors, but a business insurance policy typically consists of the following coverages:
- Professional liability insurance – This coverage pays for legal costs if you’re sued by a client for an accounting mistake. Like car insurance, it covers bodily injury and property damage liability in case someone is harmed or something is damaged as a result of your business.
- Advertising injury coverage – This coverage protects you from lawsuits related to libel, slander, and copyright infringement.
- Workers compensation coverage – Workers compensation pays for medical costs incurred from work-related injuries.
- Cyber liability insurance – Cyber coverage pays legal defense costs related to hacks or data breaches.
- Errors and omissions insurance – Also called malpractice insurance, this coverage protects you legally from errors made on the job.
All accounting businesses should have business insurance. If you’re not sure what kinds of coverage you need, talk to an insurance agent. Professional liability policies are available from most major insurance providers.
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Why do insurers ask about your occupation?
You may be wondering why car insurance companies ask about your occupation. When car insurance companies ask about your occupation, they can tell a few things by your answer.
Insurance companies rate drivers by assessing the risk they are taking on when they insure the driver. By knowing a driver’s profession, an insurance company can get a better idea of how big of a risk the driver may be.
If you answer a doctor, insurers know you have a high education level. If you answer a realtor, you may have a higher commute and carry passengers. Maybe you answer bartender, if so, the insurance company knows you may have irregular, late hours and susceptible to riskier conditions while driving.
Should you tell your car insurance company you had a job change?
Chances are if you get a promotion or have a slight change within your current job field, your car insurance company may not rate you any differently. If you have a complete job change, you should contact your car insurance company to give them an update on your new job.
How does your job affect your car insurance?
As we mentioned earlier, your job can affect your car insurance rates. Stressful, high-commuting, and late hours are all indicators of higher risk.
While teachers and retirees are considered honest and low mileage drivers.
Some companies, like Geico, even have professional group discounts.
This means certain companies may have group insurance rates for employees. In this event, your profession could save you money on your car insurance rate.
Let’s take a look at what an average rate for a CPA would be through Geico.
Occupation Geico Monthly Geico 6-month Geico Annual
CPA/Comptroller $151.00 $906.00 $1,812.00
The above rates are for a driver with a clean record and coverages above the state minimum requirements.
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Which providers offer the best rates for your job?
No matter your profession, you want to get the best coverage from your auto insurance company at the lowest rate. Unless you carry goods or people for your profession or have other needs while driving for commercial liability, you can save on your car insurance rates by looking at mileage and discounts.
First up, let’s take a look at how your annual mileage can affect your car insurance rates.
Does your annual mileage affect your rates?
Car insurance companies look at how much you are on the roads because they assume the more you are on the road the higher the likelihood of your being involved in an accident.
If you spend a lot of time commuting in your car, you will want to find a company that doesn’t rate as high for longer commuting.
Company | 10 Miles Commute, 6000 Annual Mileage | 25 Miles Commute, 12000 Annual Mileage |
---|---|---|
Allstate | $4,841.71 | $4,934.20 |
American Family | $3,401.30 | $3,484.88 |
Farmers | $4,179.32 | $4,209.22 |
Geico | $3,162.64 | $3,267.37 |
Liberty Mutual | $5,995.27 | $6,151.63 |
Nationwide | $3,437.33 | $3,462.67 |
Progressive | $4,030.02 | $4,041.01 |
State Farm | $3,175.98 | $3,344.01 |
Travelers | $4,399.85 | $4,469.96 |
USAA | $2,482.69 | $2,591.91 |
Nationwide and Progressive have the lowest rate difference with a higher commute while State Farm and Liberty Mutual have two of the highest.
What discounts are offered to CPA/accountants/comptrollers?
Unless you work with a larger company and have a group rate for your car insurance, the best discounts will be offered by your car insurance company directly.
Vehicle Discounts | Driver/Customer Discounts | Personal Discounts |
---|---|---|
Active Disabling Device | Claim Free | Emergency Deployment |
Adaptive Cruise Control | Continuous Coverage | Family Legacy |
Adaptive Headlights | Defensive Driver | Family Plan |
Anti-lock Brakes | Driver's Education | Federal Employee |
Audible Alarm | Driving Device/App | Further Education |
Automatic Braking | Early Signing | Good Student |
Blind Spot Warning | Full Payment | Homeowner |
Daytime Running Lights | Good Credit | Life Insurance |
Economy Vehicle | Loyalty | Married |
Electronic Stability Control | Multiple Policies | Membership/Group |
Farm/Ranch Vehicle | Multiple Vehicles | Military |
Forward Collision Warning | New Customer/New Plan | New Address |
Garaging/Storing | Occasional Operator | New Graduate |
Green/Hybrid Vehicle | Online Shopper | Non-smoker/Non-drinker |
Lane Departure Warning | On-Time Payments | Occupation |
Newer Vehicle | Paperless/Auto Billing | Recent Retirees |
Passive Restraint | Paperless Documents | Stable Residence |
Utility Vehicle | Roadside Assistance | Student Away |
Vehicle Recovery | Safe Driver | Student or Alumni |
VIN Etching | Seat Belt Use | Volunteer |
Most car insurance companies offer a wide variety of discounts that can be applied to your car insurance policy. They can range from company loyalty to safety features in your car.
We suggest to always go over discounts with your car insurance provider to make sure you have all available discounts applied to your policy.
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How does someone become a financial professional?
While the following professions are all considered financial occupations, we are going to take a deeper look at the following professions:
- CPA, Certified Public Accountant
- Comptroller
- Accountant
How are they different? How much schooling do you need?
We will answer those questions and many more.
Certified Public Accountant
The first requirement in becoming a CPA is to get a four-year bachelor’s degree in accounting or a related field.
This degree must be from an accredited college and include at least 24 semester hours in accounting or in an accounting-related area and 24 semester hours in business or a business-related area. The same class cannot count for each of these requirements.
After meeting the educational requirements, the individual must gain at least two years of accounting work experience.
This experience has to be under the supervision of a currently licensed CPA. After this, the state CPA exam and an ethics course test must be passed before certification can be granted. A certified public accountant can work for a business or start a private practice.
CPAs do more than just basic accounting procedures.
They oversee entire accounts. For example, when a CPA firm takes on a client, an accountant at the firm will actually do the accounting, taxes, and more for the client, while the CPA will give overall direction and financial vision to the account itself.
CPAs generally handle larger, wealthier clients and companies.
Comptroller Path
Next, let’s take a look at comptrollers.
A comptroller is a management position. A comptroller oversees the entire accounting division of a business and reports to the Chief Financial Officer or CFO.
Comptrollers may oversee either external audits, internal audits, or both.
They supervise the day-to-day accounting procedures of the company and handle any financial reporting that needs to be done to the executives or board members of the company. Comptroller used to be a position that an accountant could work towards and be promoted to within a company.
Comptroller used to be a position that an accountant could work towards and be promoted to within a company.
Up until about 15 years ago, this is how most comptroller positions worked.
However, now that the turnover rate at a company is higher and more professionals are seeking jobs, comptrollers are being hired from outside companies and are typically required to have a four-year degree along with experience.
Along with these changes, the term comptroller is also changing as well.
Some companies do not have a comptroller per se, but they have an accounting manager, accounting supervisor, an audit executive, or financial manager.
These positions are synonymous with comptroller but have evolved over the past 15 years to include other technological and legal responsibilities.
Accountant Path
The last profession we are going to look over is an accountant.
An accountant is an entry-level position. For basic accounting, most companies do not require a college degree.
However, an associate’s degree in accounting or a bachelor’s degree can put you above the rest of the applicants for an accounting job and also result in more pay from the company you work for.
An accountant is responsible for things like invoices, billings, accounts payable, accounts receivable, tax information, and payroll.
In some cases, an accountant will also oversee the health, dental, vision, and life insurance for the company, paying particular attention to what deductions to take out of each employee’s paycheck for taxes, insurance, and retirement.
Does being unemployed affect your car insurance?
If you are unemployed, you can still get car insurance just like any other driver. An insurance company can not deny you coverage based on your unemployment.
Read more: Compare Unemployed Driver Car Insurance Rates
There are a few factors that could change that would result in a rate change.
The use of the car may change from business or commuting to pleasure. You will also lose any occupational-based discounts you may be receiving due to your previous employment.
Rates for Accountant & Comptroller: Real Case Studies
Case Study One: Navigating Financial Roads With Precision
John Mitchell is a Certified Public Accountant (CPA) with over a decade of experience in the financial industry. He is based in California and has a clean driving record. John is looking for car insurance that caters specifically to his profession while providing competitive rates.
John decides to explore Farmer’s Insurance based on the recommendation in the article. After entering his ZIP code into the free quote tool, he receives a quote from Farmers. The company offers him a minimum coverage rate of $53 per month and a full coverage rate of $139. Farmers stand out by unveiling specialized discounts for financial professionals like John. The coverage includes comprehensive protection tailored to the needs of CPAs.
Impressed by the specialized coverage and competitive rates, John chooses Farmers Insurance for his car insurance needs. The company’s focus on offering discounts to financial professionals aligns with his expectations, providing him with a comprehensive and cost-effective solution.
Case Study Two: Steering Towards Stability
Emily Rodriguez, a Comptroller based in Illinois, is known for her expertise in overseeing the accounting division of a prominent business. She values financial stability and wants car insurance that reflects her responsible nature both professionally and personally.
Upon reading the article, Emily decides to explore State Farm’s car insurance. She enters her details into the free quote tool and receives a quote from the company. The company offers her a minimum coverage rate of $33 per month and a full coverage rate of $86. Its reputation for nurturing financial stability provides Emily with a sense of confidence.
Impressed by the competitive rates and the emphasis on financial stability, Emily chooses the company for her car insurance. The commitment to responsible financial practices aligns with her values, and she feels secure knowing that her car insurance is in capable hands.
Case Study Three: Crafting Coverage for Accountants
Sarah Thompson, an Accountant based in Wisconsin, is known for her attention to detail and commitment to providing specialized coverage. She is seeking car insurance that caters to her unique needs as an accountant.
After reading the article, Sarah decides to explore American Family Insurance. Using the free quote tool, she receives a quote from the company. American Family offers her a minimum coverage rate of $43 per month and a full coverage rate of $117. The company is highlighted for crafting specialized coverage, which resonates with Sarah’s requirements.
Impressed by the tailored coverage options and competitive rates, Sarah chooses American Family for her car insurance. The company’s focus on providing specialized coverage aligns with her profession as an accountant, offering her the assurance that her insurance needs are well understood and addressed.
Frequently Asked Questions
How does being a financial professional affect car insurance rates?
Being a financial professional can place you in the medium to high range for car insurance rates due to your income bracket.
What insurance do you need if you run an accounting firm?
You’ll need business insurance for your accounting firm, including professional liability coverage.
Why do insurers ask about your occupation?
Insurers ask about your occupation to assess the risk you pose as a driver.
Should you inform your car insurance company about a job change?
If you have a complete job change, it’s important to inform your car insurance company.
How does your job affect car insurance rates?
Certain professions can impact your car insurance rates, with high-risk jobs often resulting in higher rates.
Free Car Insurance Comparison
Enter your ZIP code below to view companies that have cheap car insurance rates.
Secured with SHA-256 Encryption
Michael Vereecke
Commercial Lines Coverage Specialist
Michael Vereecke is the president of Customers First Insurance Group. He has been a licensed insurance agent for over 13 years. He also carries a Commercial Lines Coverage Specialist (CLCS) Designation, providing him the expertise to spot holes in businesses’ coverage. Since 2009, he has worked with many insurance providers, giving him unique insight into the insurance market, differences in ...
Commercial Lines Coverage Specialist
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.