The vehicle that is being insured is one of the largest factors in finding the best cheap insurance for Lyft drivers. Vehicles with high performance engines, a lack of safety features, or a track record of large liability claims will cost much more to insure than more economical and safe models. The information below presents coverage premiums for the more affordable vehicles to buy insurance for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $970 |
| Chevrolet Silverado LS Regular Cab 4WD | $972 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $981 |
| Ford Escape XLS 4WD | $1,000 |
| Hyundai Elantra SE Touring Station Wagon | $1,057 |
| Ford F-150 FX2 2WD | $1,070 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,075 |
| Toyota Prius | $1,080 |
| Honda Odyssey LX | $1,102 |
| GMC Sierra 2500HD SLE Regular Cab 4WD | $1,125 |
| Ford Explorer Eddie Bauer 2WD | $1,129 |
| Dodge Ram Quad Cab TRX4 Off Road 2WD | $1,144 |
| Chevrolet Equinox LS 2WD | $1,150 |
| Chevrolet Malibu LS | $1,158 |
| Nissan Altima 2.5 4-Dr Sedan | $1,150 |
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Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Prices do not factor in the specific area where the vehicle is garaged which can influence coverage prices greatly.
By looking at the data, you can figure that makes and models like the Honda CR-V, Chevrolet Silverado, and Jeep Wrangler are the cheaper vehicles to insure for Lyft vehicles.
Comparing rates for affordable car insurance is not the easiest thing to do, and determining which companies offer the lowest-priced insurance rates for Lyft drivers will involve even more rate comparisons. Every auto insurer uses a little different formula for determining rates in each state, so we’ll take a look at the insurance companies that tend to have lower prices in Austin, TX.
It’s important that you understand Austin insurance rates are calculated based on many things that will increase or decrease the price you pay for coverage. Things like getting older, buying a safer car, or getting a reckless driving citation may generate price changes that may make certain companies cheaper than competitors.
Find Cheaper Car Insurance for Your Lyft Vehicle
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,021 |
| 2 | USAA | $1,128 |
| 3 | Texas Farm Bureau | $1,247 |
| 4 | Germania Mutual | $1,294 |
| 5 | Esurance | $1,365 |
| 6 | California Casualty | $1,424 |
| 7 | State Farm | $1,465 |
| 8 | Mercury | $1,476 |
| 9 | Nationwide | $1,585 |
| 10 | Safe Auto | $1,613 |
| 11 | Progressive | $1,698 |
| 12 | Allstate | $1,701 |
| 13 | Amica | $1,775 |
| 14 | Home State | $2,092 |
| 15 | GEICO | $2,135 |
| 16 | MetLife | $2,183 |
| 17 | Encompass | $2,232 |
| 18 | Unitrin | $2,264 |
| 19 | 21st Century | $2,469 |
| 20 | Titan | $2,594 |
| Quote Your Rates Go | ||
Travelers may have some of the lowest car insurance rates in Austin at around $1,021 annually. This is $883 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance would also make the list of some of the cheaper Austin, TX auto insurance companies.
As shown in the rates above, if you have coverage with Germania Mutual and switched to Travelers, you could see an annual premium reduction of approximately $273. Insureds with Esurance might save as much as $344 a year, and California Casualty insureds might cut rates by $403 a year.
It’s important to note that these policy prices are averaged for all drivers and vehicles in Texas and are not factoring in an exact location for Lyft drivers. So the insurer that can offer you the best rate may not even be in the list above. That underscores the importance of why you need to get quotes using your own driver data and vehicle information.
Picking a highly-rated company is hard considering how many choices there are in Texas. The company information in the next section can help you analyze which car insurance companies you want to consider comparing rates from.
These ratings are for companies who write in the majority of U.S. states, so smaller companies are not included in this list. If you’d like to compare prices from these and other competitive companies, click this link.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Reckless driving habits raise Austin insurance rates
In a perfect world, the ideal way to obtain good insurance premiums for Lyft vehicles is to be a good driver and avoid traffic citations and accidents. The information below highlights how speeding tickets and at-fault accidents raise yearly insurance costs for each age group. The premiums are based on a single male driver, full physical damage coverage, $100 deductibles, and no discounts are applied.
In the example above, the average cost of car insurance in Austin per year with no accidents and a clean driving record is $2,181. Get written up for one speeding ticket and the average cost increases to $2,456, an increase of $275 each year. Then add one accident along with the one speeding ticket and the 12-month cost of insurance for Lyft drivers goes up to an average of $3,232. That’s an increase of $1,051, or $88 per month, just for not driving carefully!
The example below illustrates how choosing a deductible can raise or lower insurance prices when trying to find cheap insurance for Lyft drivers. The data is based on a married male driver, full coverage, and no discounts are factored in.
In the chart above, a 30-year-old driver could lower rates by $294 a year by increasing from a $100 deductible up to a $500 deductible, or save $446 by selecting a $1,000 deductible. Young drivers, like the Age 20 category, could lower their rates $884 or more by selecting a higher deductible. If you do decide to increase your deductibles, it will be necessary to have additional funds squirreled away to satisfy the extra out-of-pocket expense that is associated with using high deductibles.
How to find cheaper car insurance for Lyft drivers
Lowering your rates is not difficult, and here are a few thrifty suggestions that can help you quote cheap coverage.
- Violations and traffic tickets increase rates
- If possible, do not file small claims
- Lower rates by purchasing a safer vehicle
- Save money by insuring your home and auto with the same company
- Staying accident-free helps keep rates low
- Compare price quotes at least once a year
That last tip is especially valuable, as we emphasized in this write-up. Insurance rates in Austin vary greatly, so don’t hesitate to switch companies if a cheaper rate is available. We understand brand loyalty, but we do not recommend it if your bullheadedness ends up costing you money that could be used for better things. It takes less than five minutes to compare prices to find cheaper car insurance for Lyft drivers.