The words “cheap” and “insurance” probably shouldn’t be used in the same sentence, specifically when looking for the best price on coverage for Lyft drivers. Because of the high cost, let’s take a look at a few of the factors that help determine auto insurance rates, and find a way to slash the price of the next policy you buy.
The vehicle on the policy is a large consideration when consumers are trying to find economical auto insurance for Lyft drivers. Vehicles with limited top-end speed, good crash test ratings, or a track record of few liability claims will cost much less to insure than high performance models.
The table below estimates auto insurance rates for a number of the most cost-effective automobiles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$1,532|
|Ford Escape XLS 2WD||$1,677|
|Honda Accord EX 4-Dr Sedan||$1,733|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,797|
|Chevrolet Impala LT||$1,816|
|Chevrolet Equinox LT AWD||$1,821|
|Hyundai Elantra SE Touring Station Wagon||$1,828|
|Chevrolet Malibu LT||$1,850|
|Dodge Grand Caravan CV||$1,875|
|Toyota Corolla S||$1,914|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,921|
|Chevrolet Silverado 2500HD LT Crew Cab 4WD||$1,948|
|Chevrolet Silverado LTZ Crew Cab 4WD||$1,957|
|Ford Edge SEL AWD||$1,948|
|Ford Focus SE 4-Dr Sedan||$1,956|
|Ford F-150 Lariat King Ranch 4WD||$1,981|
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Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Washington minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Prices do not factor in vehicle location which can change price quotes significantly.
Looking at the data, you can presume that makes and models like the Honda CR-V, Ford Escape, Honda Accord, and Volkswagen Jetta are most likely to be the most affordable vehicles to insure for Lyft vehicles.
Finding reasonably-priced insurance is hard enough, and determining which insurers offer the most affordable car insurance rates for Lyft drivers takes even more perseverance.
Each auto insurance company has a different formula to set premium rates, so we need to take a look at the overall cheapest car insurance companies in Washington. It’s important that you understand Washington car insurance rates are influenced by many factors that may substantially change the policy price. This is why consumers need to take the time to compare many different companies when trying to get cheap auto insurance rates for Lyft drivers. Insurance rates can be altered by many risk factors and change frequently, so the most economical option the last time you compared rates may now be quite expensive.
Find the Cheapest Car Insurance for Your Lyft Vehicle
Capital generally has some of the lowest car insurance rates in Seattle at around $784 a year. Grange, Nationwide, PEMCO, and Travelers also rank well as some of the cheaper Seattle, WA car insurance companies.
As the example above demonstrates, if you are insured with PEMCO and switched to Capital, you may see savings of in the vicinity of $210. Customers with Travelers might save as much as $244 a year, and Mutual Enumclaw insureds might see rate reductions of $250 a year.
To get a quick, customized rate comparison, click here to begin a quote or quote rates from the companies below.
Understand that those prices are averages for all drivers and vehicles in Washington and do not take into consideration a specific vehicle garaging location for Lyft drivers. So the auto insurance company that can offer you the best price may not even be in the top 25 companies shown above. That is why you need to compare as many prices as possible using your own driver information and specific vehicle type.
For Lyft vehicles, one of the big criteria that aid in calculating car insurance rates is where you live in Seattle. Areas with high crime rates or more dense population likely pay more, whereas more rural areas benefit from lower coverage costs.
The next table ranks the most expensive areas in Washington for Lyft drivers to purchase car insurance in. Seattle is ranked #6 with an annual rate of $1,349 for the average insured, which is approximately $112 per month.
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Table data uses approximated as vehicle location can lower or raise premium rates significantly.
The diagram below highlights how deductible selection can affect insurance prices when quoting cheap insurance for Lyft drivers. Data assumes a single female driver, full physical damage coverage, and no discounts are applied.
As shown above, a 50-year-old driver could reduce rates by $234 a year by switching from a $100 deductible to a $500 deductible, or save $354 by choosing a $1,000 deductible. Youthful drivers, like the 20-year-old example, could possibly save $592 annually by using a higher deductible. When raising deductibles, it is essential to have enough savings set aside to satisfy the extra out-of-pocket expense that is associated with using high deductibles.
Bad driving habits will cost you more
The recommended way to snag cheap car insurance rates in Seattle for Lyft vehicles is to be a cautious driver and avoid getting tickets or having accidents. The example below highlights how traffic violations and at-fault collisions can drive up insurance premiums for different categories of driver ages. The information is based on a married male driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.
The data charted above shows the average cost of a car insurance policy per year with no violations or accidents is $1,402. Get written up for two speeding tickets and the average cost surges to $1,927, an increase of $525 each year. Now get two accidents along with the two speeding tickets and the yearly cost of car insurance for Lyft drivers increases to an average of $4,128. That’s an increase of $2,726, or $227 per month, just for not driving responsibly!
Finding a good quality car insurance company can be rather challenging considering how many companies there are to choose from in Washington. The ranking data listed below may help you pick which car insurance providers to look at comparing price quotes from.
These ratings include major nationwide insurance companies, so companies that only write business in Washington or surrounding areas will not be included in these rankings. To get rate quotes and find the cheapest rates for Lyft drivers, just click here.
Top 10 Major Auto Insurance Providers in Seattle Ranked by Customer Service
- State Farm
- The Hartford
- The General
- AAA Insurance
- American Family
- Liberty Mutual
Top 10 Major Auto Insurance Providers in Seattle Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- The Hartford – 89%
- GEICO – 89%
- Allstate – 88%
- 21st Century – 88%
- The General – 88%
If you have questions and prefer to get some help when shopping for cheaper insurance for Lyft drivers, the agencies below can probably aid you in deciding which car insurance company is the best fit.
To find a Seattle insurance agency near you, click the link after the list or click here to compare price quotes now.
- Luan Vu – State Farm Insurance Agent
6951 Martin Luther King Jr Way S #224 – Seattle, WA 98118 – (206) 243-3041
- Sound Insurance Agency, Inc.
9627 Aurora Ave N – Seattle, WA 98103 – (206) 527-0888
- AAA Washington Insurance Agency – Seattle
320 NE 97th St c – Seattle, WA 98115 – (206) 529-2700
- George Fu – State Farm Insurance Agent
9026 Roosevelt Way NE – Seattle, WA 98115 – (206) 524-0330
- Mark Hafemeister – State Farm Insurance Agent
14322 Lake City Way NE – Seattle, WA 98125 – (206) 365-0600
How to find more affordable car insurance for Lyft drivers
The list below summarizes some of the better thrifty suggestions that can help Washington drivers find lower-cost auto insurance.
- Save money by observing traffic laws and speed limits
- Drivers with good credit often pay less
- Buy safe vehicles
- Raise physical damage deductibles
- Avoid accidents
- Compare prices frequently to find the best deal
That last piece of advice is highly critical, as we discussed in this article. Coverage rates can change significantly in a year, so drivers shouldn’t be resistant to switch companies if a better rate can be found.
Staying with the same car insurance company is fine, but it isn’t a good idea if that loyalty results in overpaying big bucks every year. In less than five minutes you could shop around and find cheaper insurance for Lyft drivers in Seattle.