The car, truck, or SUV to be insured is a significant factor when shopping for cheaper auto insurance for Lyft drivers. Vehicles with higher performance, poor passenger safety features, or high incidents of liability claims will cost substantially more to insure than more economical and safe models.
The data below ranks insurance costs for a handful of the most budget-friendly vehicles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$1,941|
|Ford F-150 XLT Super Cab 2WD||$2,180|
|Ford Escape XLS 2WD||$2,189|
|Honda CR-V EX-L 4WD||$2,249|
|Ford Edge SE AWD||$2,258|
|Chevrolet Equinox LT AWD||$2,302|
|Jeep Grand Cherokee Laredo 4WD||$2,311|
|Dodge Grand Caravan Hero||$2,302|
|Toyota RAV4 Sport 2WD||$2,310|
|Ford Explorer Limited AWD||$2,346|
|Nissan Altima 2.5 S 4-Dr Sedan||$2,428|
|Chevrolet Impala LS||$2,469|
|GMC Sierra SLE Extended Cab 4WD||$2,472|
|Jeep Wrangler Unlimited Sahara 4WD 4-Dr||$2,494|
|Honda Odyssey EX W/Rear Entertainment||$2,532|
|Ford Focus SES 2-Dr Coupe||$2,588|
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Data variables include single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Price estimates do not factor in specific zip code location which can raise or lower insurance rates considerably.
By looking at the data, you can expect cars like the Honda Accord, Ford F-150, Ford Escape, and Honda CR-V are most likely going to be a few of the cheaper vehicles to insure for Lyft vehicles.
For Lyft vehicles, one of the largest considerations that aid in calculating the cost of insurance is where you keep your vehicle in Henderson. Areas with high crime rates or more dense population tend to have higher rates, whereas areas that tend to be more rural benefit from lower rates.
The information below rates the most expensive areas in Nevada for Lyft drivers to buy car insurance in. Henderson shows up at #8 with an annual premium of $1,749 for the average insurance policy, which is about $146 monthly.
|Rank||City||Average Per Year|
|6||North Las Vegas||$1,882|
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Annual rates are estimated as the specific garaging location can raise or lower prices noticeably.
Reckless driving habits raise Henderson auto insurance rates
The ideal way to receive the most affordable auto insurance rates in Henderson for Lyft vehicles is to drive safely and avoid accidents and violations. The example below illustrates how speeding tickets and at-fault claims can impact annual premium costs for different age groups. The rate quotes are based on a single male driver, full coverage, $100 deductibles, and no discounts are applied.
In the chart above, the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,768. Receive one speeding ticket and the average cost rises to $1,990, an increase of $222 each year. Now include two accidents along with the one speeding ticket and the yearly cost of auto insurance for Lyft drivers increases to an average of $3,861. That’s an increase of $2,093, or $174 per month, just for not driving carefully!
Discount Henderson auto insurance rates
Auto insurance companies that sell policies for Lyft drivers may also give you policy discounts that may potentially lower prices by as much as 35% if you qualify. A list of auto insurance companies and a selection of discounts are outlined below.
- GEICO may have discounts that include air bags, driver training, anti-lock brakes, membership and employees, and seat belt use.
- USAA offers discounts for multi-policy, annual mileage, vehicle storage, defensive driver, and loyalty savings.
- Progressive offers discounts including good student, multi-policy, multi-vehicle, homeowner, continuous coverage, and online signing.
- American Family offers premium reductions for air bags, bundled insurance, Steer into Savings, multi-vehicle, good driver, early bird, and good student.
- Esurance policyholders can earn discounts including emergency road assistance, paid-in-full, multi-car, safety device, and good driver.
- Farmers Insurance has savings for good student, teen driver, mature driver, homeowner, youthful driver, electronic funds transfer, and alternative fuel.
- State Farm includes discounts for good driver, Steer Clear safe driver discount, Drive Safe & Save, good student, driver’s education, and multiple policy.
The illustration below illustrates the comparison of car insurance costs with and without discounts being applied to the rates. The data is based on a female driver, no violations or accidents, Nevada state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with multiple vehicle, anti-theft, defensive driving course, claim-free, multiple policy, and marriage discounts applied. When these discounts are applied, theaverage amount saved on auto insurance for Lyft drivers is 28% or $515.
The information below highlights how deductible selection can raise or lower insurance prices when searching for cheap insurance for Lyft drivers. Data assumes a single female driver, full physical damage coverage, and no additional discounts are factored in.
As shown above, a 50-year-old driver could lower their car insurance rates by $332 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $500 by selecting a $1,000 deductible. Young drivers, such as the 20-year-old example, can save as much as $848 every year by using higher deductibles when buying full coverage.
If you make the decision to raise deductibles, it will be necessary to have additional savings on hand to pay the extra out-of-pocket expense associated with higher deductibles.
Chances are good that you’re overpaying for Henderson car insurance
Henderson auto insurance rates are impacted by many things that control the price you pay. Improving your credit score, buying higher coverage limits, or getting caught speeding can trigger rate changes that can make some companies affordable when they were higher priced.
Not only may things change on your end, but car insurance companies modify rates multiple times each year to adjust for gains or losses. Heavier than normal losses can cause high rates, while a better loss history can result in cheaper Henderson car insurance rates.
The data below compares the cheapest car insurance in Henderson, NV for a 45-year-old male driver with a clear driving record, no claims, and good financial standing. If we estimate rates based on his current situation, Allied might quote the best car insurance rates in Henderson at $1,446 annually. This is $128 less than the average premium paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and Progressive are also included in the best Henderson, NV auto insurance companies.
Now let’s give the driver in the first example some claims, a lower credit rating, and an imperfect driving record. Because each company has their own unique process for setting prices, analyzing rates may now result in a different ranking of companies as shown below.
GEICO now has the best price in Henderson with Travelers, Nationwide, Safeco, and USAA also having competitive pricing. This example proves why Nevada drivers need to compare rates to find the most affordable auto insurance quotes for Lyft drivers.
Rates consist of many factors and can increase or decrease at any time, so the most economical company six months ago may now be quite expensive.