The words “cheap” and “insurance” really shouldn’t be used in the same sentence, especially when searching for the lowest insurance rates for Lyft drivers. To save some money, let’s familiarize you with a few of the things that significantly impact car insurance rates, and figure out some ideas to reduce the price of your next policy.
Trying to find low-cost car insurance is not the easiest thing to accomplish, and determining which companies offer the cheapest car insurance rates for Lyft drivers will take additional perseverance.
Every car insurance company has a unique formula to set policy rates, so we’ll take a look at the car insurance companies that tend to be cheaper in Nevada. It’s important to understand that Las Vegas, NV car insurance rates are influenced by many factors which can significantly increase or decrease the cost of having a policy. Taking a driver safety course, having a teenage driver, or getting a DUI can produce rate changes resulting in some rates now being cheaper than competitors.
Find Cheaper Car Insurance for Your Lyft Vehicle
|Rank||Company||Cost Per Year|
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Allied normally has some of the most affordable car insurance rates in Las Vegas at around $939 each year. Travelers, Capital, Oregon Mutual, and GEICO would also be considered some of the best Las Vegas, NV car insurance companies.
As shown above, if you currently buy coverage from Oregon Mutual and switched to Travelers, you might achieve annual savings of about $243. Nevada drivers with GEICO might save as much as $280 a year, and American Family insureds might see rate reductions of $291 a year.
To see if your current coverage is too expensive, click here or visit several of the following companies.
These estimates are averages across all drivers and vehicles and do not factor in a vehicle location for Lyft drivers. So the insurer that has the cheapest price for you may not even be in the top 20 companies in the list above. That is why you need to quote rates from as many companies as possible using your own driver data and vehicle information.
The vehicle on the policy is probably the most important factor when comparing low-priced coverage for Lyft drivers. Vehicles with lots of speed or power, a lack of safety features, or a history of substantial liability claims will cost much more to insure than safer, lower-performance models. The information below illustrates car insurance costs for a handful of the most affordable vehicles to insure.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 2WD||$2,532|
|Hyundai Elantra SE Touring Station Wagon||$2,685|
|Jeep Wrangler Sahara 4WD 2-Dr||$2,774|
|Dodge Grand Caravan CV||$2,781|
|Chevrolet Impala LS||$2,874|
|Ford Focus SES 4-Dr Sedan||$3,024|
|GMC Sierra 2500HD SLE Extended Cab 4WD||$3,135|
|Dodge Ram Crew Cab ST 2WD||$3,199|
|Honda Civic GX 4-Dr Sedan||$3,232|
|Ford Edge SEL AWD||$3,292|
|Honda Accord EX 2-Dr Coupe||$3,299|
|Ford Escape Limited 4WD||$3,296|
|Find Cheaper Rates Go|
Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Premium amounts do not factor in specific Las Vegas, NV garaging location which can modify insurance rates noticeably.
Looking at the numbers, you can see that cars like the Honda CR-V, Hyundai Elantra, Jeep Wrangler, and Dodge Grand Caravan are likely to be a few of the less-costly vehicles to insure for Lyft vehicles.
Picking a highly-rated insurance company can be challenging considering how many companies provide coverage in Nevada. The company ratings listed below could help you analyze which coverage providers to look at when looking for cheaper rates.
These rankings are for companies that write coverage in many states, so smaller companies are not factored into the list. To compare price quotes from the insurers below and more, simply click here.
Top 10 Large Auto Insurers Overall in Las Vegas
- American Family
- State Farm
- The Hartford
- AAA Insurance
- The General
- Titan Insurance
- Mercury Insurance
Safe drivers pay cheaper rates
The obvious way to obtain good car insurance rates in Nevada for Lyft vehicles is to be a cautious driver and maintain a clean driving record. The information below illustrates how speeding tickets and at-fault claims can affect insurance rates for each different age category. The price estimates are based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no other discounts are factored in.
The data above shows the average cost of an auto insurance policy per year with a clean driving record and no accidents is $2,203. Add in one speeding ticket and the average cost jumps to $2,482, an increase of $279 each year. Next add one accident along with the one speeding ticket and the yearly cost of car insurance for Lyft drivers jumps again to an average of $3,266. That’s an increase of $1,063, or $89 per month, just for not being a responsible driver!
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Las Vegas car insurance rates are determined by lots of factors which can substantially decrease or increase the cost of coverage. Improving your credit rating, filing a claim, or getting a ticket for careless driving may cause policy rate changes that can now make some companies cheaper in comparison to the competition.
And not only may your rating factors change, but insurance companies change prices multiple times each year to help ensure profitability. A period of higher than normal claims may result in more expensive premiums, while better underwriting may result in lower-priced Las Vegas car insurance rates.
The bar chart below shows which companies have the cheapest car insurance in Las Vegas, NV for a 40-year-old male driver with no prior accidents, a clean driving record, and great credit. Based on his current situation, Travelers might offer the most affordable car insurance rates in Las Vegas at $1,611 a year. This is $37 more than the average price paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and Progressive are the remaining cheapest Las Vegas, NV auto insurance companies.
In the next rate comparison, we’ll give the driver from the above example an accident claim, a lower credit rating, and a few traffic violations. Because each insurer has their own guidelines for determining rates in each state, comparing quotes could now result in a different ranking of cheap Las Vegas auto insurance companies as shown below.
GEICO now has the lowest price in Las Vegas with Nationwide, Safeco, USAA, and Allied now being in the top five. This example shows why drivers need to perform an extensive rate comparison to get cheap insurance quotes for Lyft drivers. Auto insurance prices are calculated by many risk factors and change frequently, so the best price six months ago may now be costing you a lot of money.
The agents shown below can answer your questions and help you decide which coverages and limits you need, as lots of people like to have some professional guidance when buying car insurance for Lyft drivers. It’s not always simple to find the best coverage on your own, and a licensed agent can provide comfort knowing you have adequate coverage when you need it most.
To find a Las Vegas insurance agency near you, click the link at the bottom.
6070 S Eastern Ave #400 – Las Vegas, NV 89119 – (702) 456-1400
Allstate Insurance: Sergio A Chavez
4676 W Charleston Blvd – Las Vegas, NV 89102 – (702) 462-9100
Omega Insurance Brokerage
3301 W Spring Mountain Rd – Las Vegas, NV 89102 – (702) 685-0170
Tim Powers – State Farm Insurance Agent
2920 S Rainbow Blvd #100 – Las Vegas, NV 89146 – (702) 871-8338
State Farm: Gregory A Moore
4312 W Charleston Blvd – Las Vegas, NV 89102 – (702) 870-9298
View map of Las Vegas, NV insurance agents
How to find budget-friendly insurance for Lyft drivers
It’s not impossible to find cheaper rates, and here are some of the better money-saving suggestions that can help Nevada drivers find cheaper coverage.
- Do not get into accidents
- If your vehicles are older, consider dropping full coverage
- Drivers with good credit ratings often pay less
- Increase deductibles to save money
- Drive a car with a high safety rating
- Serious violations like DUI or careless driving can make car insurance unaffordable
- Comparison shop at least once a year
That final tip is certainly crucial, as was noted in the prior article. Rates adjust frequently, so don’t be hesitant to switch companies if a better deal can be had.
Brand loyalty is not necessarily bad, but it’s not a good idea if that faithfulness ends up costing you lots of hard earned cash every month. If you have a few minutes, now is a great time to shop around and find cheaper insurance for Lyft drivers in Las Vegas.