The words “bargain” and “auto insurance” really should not be used together, specifically when looking for the best coverage prices for Lyft drivers. Because it’s so expensive, let’s open your eyes to a few of the things that have an effect on car insurance prices, and figure out some ways to reduce the price of your next policy.
The car, truck, or SUV you are seeking coverage for is one of the main factors when comparing the best car insurance for Lyft drivers. Vehicles with higher performance, a lack of advanced safety features, or a track record of large liability claims will cost more to insure than safer models.
The table below features coverage premiums for a handful of the more affordable vehicles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$1,276|
|Honda CR-V EX 4WD||$1,305|
|Chevrolet Malibu Hybrid||$1,385|
|Volkswagen Jetta S 2.5 Station Wagon||$1,390|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$1,395|
|Ford F-150 XLT Crew Cab 2WD||$1,429|
|Dodge Grand Caravan SE||$1,437|
|Chevrolet Impala LTZ||$1,458|
|Toyota Corolla S||$1,466|
|Toyota Camry SE||$1,458|
|Honda Civic DX 4-Dr Sedan||$1,485|
|Ford Edge Limited 2WD||$1,493|
|Dodge Ram Crew Cab SLT 2WD||$1,507|
|Ford F-350 XL Crew Cab King Ranch 2WD||$1,509|
|Toyota RAV4 2WD||$1,514|
|Jeep Grand Cherokee Laredo 4WD||$1,522|
|Chevrolet Equinox LT 2WD||$1,514|
|Toyota Tacoma Double Cab 4WD||$1,543|
|Ford Explorer Limited AWD||$1,551|
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Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Estimates do not factor in garaging location in Columbus, OH which can influence price quotes substantially.
By looking at the data, we can tell that makes and models like the Ford Escape, Toyota Prius, Honda CR-V, and Chevrolet Malibu will definitely be a few of the cheaper vehicles to insure for Lyft vehicles.
Finding reasonably-priced insurance is confusing at best, and determining which company quotes the most affordable car insurance rates for Lyft drivers requires additional perseverance. Every car insurance company has a proprietary formula for filing rates in each state, so first we will examine the car insurance companies with the most affordable rates in Ohio.
Keep in mind that Columbus car insurance rates are impacted by many factors that can increase the cost of coverage. Events such as a birthday, buying a higher-value vehicle, or getting a ticket for running a stop sign can trigger rate changes that can now make some companies cheaper than competitors.
Find the Cheapest Car Insurance for Your Lyft Vehicle
Utica National normally has some of the most affordable car insurance rates in Columbus at around $628 annually. This is $412 less than the average price paid by Ohio drivers of $1,040. Erie, Allied, Travelers, and Frankenmuth also make the cut as some of the best Columbus, OH insurance companies.
As the example above demonstrates, if you currently have a policy with Travelers and switched to Utica National, you might realize a yearly savings of about $77. Policyholders with Frankenmuth may save as much as $80 a year, and USAA customers might lower prices by $113 a year.
Understand that those estimates are averages across all drivers and vehicles and do not take into consideration a vehicle location for Lyft drivers. So the auto insurance company that fits your age and vehicle best may not even be in the top 33 companies in the list above. That points out the importance of why you need to get quotes using your own specific driver information and vehicle.
For Lyft vehicles, one of the big criteria that aid in calculating car insurance rates is where you live in Columbus. Areas with more people or higher crime rates tend to have more expensive auto insurance rates, whereas areas that tend to be more rural receive better rates.
The illustration below sorts the most expensive places in Ohio for Lyft drivers to buy car insurance in. Columbus shows up at #5 with the yearly price of $1,211 for coverage, which is around $101 each month.
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Premium costs are comparative as the specific zip code location can decrease or increase coverage rates significantly.
Best car insurance in Ohio
Insuring your vehicle with a highly-rated car insurance company is difficult considering how many companies sell insurance in Ohio. The rank data listed below may help you select which companies to look at when trying to find cheaper insurance for Lyft drivers.
These ratings only include companies with a national presence, so companies that have a smaller presence are not taken into consideration for this list. To compare rates from these top insurers and more, click this link.
Top 10 Large Auto Insurance Companies in Columbus Ranked by Customer Service
- State Farm
- Safeco Insurance
- American Family
- Titan Insurance
- Liberty Mutual
- Erie Insurance
Top 10 Large Auto Insurance Companies in Columbus Ranked by Customer Satisfaction
- USAA – 92%
- Erie Insurance – 88%
- American Family – 88%
- State Farm – 88%
- Nationwide – 88%
- 21st Century – 88%
- AAA Insurance – 87%
- Liberty Mutual – 87%
- Farmers Insurance – 87%
- The Hartford – 87%
The diagram below illustrates how your deductible choice can increase or decrease yearly insurance costs when researching cheap insurance for Lyft drivers. The information is based on a single male driver, comprehensive and collision coverage, and no discounts are factored in.
The data above shows that a 50-year-old driver could cut expenses by $186 a year by increasing from a $100 deductible up to a $500 deductible, or save $282 by choosing a $1,000 deductible. Young drivers, like the 20-year-old category, could drop their prices up to $612 or more just by using higher deductibles. When increasing deductibles, it will be important to have plenty of savings on hand to allow you to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Impact of speeding/accidents on car insurance rates
The easiest way to enjoy good car insurance rates for Lyft vehicles is to drive safe and avoid accidents and violations. The illustration below shows how violations and fender-benders drive up premium costs for different age groups of insureds. The information is based on a single female driver, full physical damage coverage, $100 deductibles, and no discounts are factored in.
The chart shows that the average cost of car insurance in Ohio per year with no accidents and a clean driving record is $1,242. Get written up for two speeding tickets and the average cost rises to $1,669, an increase of $427 each year. Then add one accident along with the two speeding tickets and the 12-month cost of car insurance for Lyft drivers jumps again to an average of $2,094. That’s an increase of $852, or $71 per month, just for being a careless driver!