How Much Does Car Insurance Cost for Lyft Drivers in California?

The vehicle you are trying to insure is one of the main factors when quoting the best cheap auto insurance for Lyft drivers. Vehicles with limited speed and performance, good crash test ratings, or a positive history of liability claims will cost substantially less to insure than higher performance models.

The list below illustrates coverage prices for a number of the most affordable vehicles to insure.

Premium data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Prices do not factor in specific location which can decrease or increase insurance rates considerably.

Looking at the data, we can tell that makes and models like the Chevrolet Traverse, Dodge Grand Caravan, and Honda CR-V are likely to be a few of the cheaper vehicles to insure for Lyft vehicles.

Finding decent, low-priced auto insurance is not the easiest thing to accomplish, and determining which companies have the most affordable car insurance rates for Lyft drivers will take more quotes for comparison.

Every auto insurer has their own unique process to set premium rates, so we’ll take a look at the lowest cost car insurance companies in California.

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USAA normally has some of the lowest car insurance rates in California at around $1,143 per year. Wawanesa, CSAA, Century National, and Nationwide also are some of the lowest-priced California car insurance companies.

In the rate table above, if you are a policyholder with Nationwide and switched to Wawanesa, you might see yearly savings of about $69. Insureds with 21st Century could save as much as $181 a year, and Grange policyholders might realize rate reductions of up to $320 a year.

These prices are averaged across all types of insureds and vehicles and do not factor in a rate decrease for Lyft drivers. So the car insurance company that fits your age and vehicle best may not even be included in the company chart above. That helps illustrate why you need to compare prices as often as possible using your own driver information and specific vehicle type.

Liability rates compared to full coverage

Finding cheap insurance for Lyft drivers in California is important to the majority of vehicle owners, and one great way to pay lower rates for insurance is to not buy full coverage. The illustration below visualizes the comparison of annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The costs are based on no claims or driving violations, $1,000 deductibles, single status, and no additional discounts are factored in.

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On average, full coverage on your policy costs an additional $1,849 per year more than buying just liability insurance. That raises the question if full coverage is worth the money. There is no set guideline to delete full coverage, but there is a general guideline. If the annual cost of coverage is about 10% or more of replacement cost minus your deductible, then it may be the right time to buy liability only.