Who Has Cheap Auto Insurance Quotes for Uber Drivers in Florida?

The vehicle requiring coverage is a large consideration that determines whether or not you find cheap auto insurance for Uber drivers in Florida. Vehicles with higher performance, a lack of modern safety features, or high incidents of liability claims will cost substantially more to insure than more modest models. The lists below features insurance prices for a number of the most budget-friendly vehicles to buy insurance for.

Table data represents married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Table data does not factor in your specific Florida location which can affect price quotes significantly.

Above prices assume married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Price estimates do not factor in specific location information which can increase or decrease auto insurance rates greatly.

Prices above based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Price estimates do not factor in specific Florida garaging location which can lower or raise insurance rates substantially.

Deciding which company has the lowest-priced insurance rates for Uber drivers requires a little more work in order to find the most economical policy. Every insurance provider uses their own method to set policy rates, so let’s take a look at the insurance companies that tend to be cheaper in Florida.

It’s important to understand that Florida insurance rates are calculated based on many things that can increase your annual premium. Improving your credit rating, buying higher coverage limits, or getting a reckless driving citation can trigger rate changes that may make certain companies cheaper in comparison to the competition.

Find the Cheapest Auto Insurance for Your Uber Vehicle

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USAA normally has some of the best car insurance rates in Florida at around $986 a year. Amica, Electric, Progressive, and Travelers are also some of the most economical Florida car insurance companies.

In the rate table above, if you currently have a policy with Travelers and switched to Amica, you might realize an annual premium reduction of roughly $251. Policyholders with Mercury might save as much as $298 a year, and Allied customers might cut rates by $310 a year.

If you want to see how much you could save, click here to begin a quote or quote rates from the companies below.

Understand that those policy prices are averages for all types of drivers and the different vehicles they drive and are not factoring in a rate decrease for Uber drivers. So the insurer that fits you best may not even be in the above rate chart. That points out the importance of why you need to get car insurance quotes using your own driver information and specific vehicle type.

Cost comparison with and without full coverage

Finding cheap auto insurance for Uber drivers in Florida is the goal of most people, and one way to save on the cost of insurance is to only buy liability coverage. The chart below compares insurance costs when comparing full coverage to liability only. The premiums assume no claims or driving citations, $250 deductibles, single status, and no discounts are applied.

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Averaged for all age groups, full coverage costs an extra $2,922 per year more than insuring for liability only. That raises the question if paying for full coverage is worth it. There is no written rule to stop buying comp and collision coverage, but there is a guideline you can consider. If the annual cost of having full coverage is about 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.

For example, let’s say your vehicle’s settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $8,000 after the deductible is paid. If premium cost is more than $800 annually for your policy with full coverage, then you might want to consider buying only liability coverage.

There are some scenarios where only buying liability is not financially feasible. If you still owe money on your vehicle, you must maintain physical damage coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should keep full coverage.

Progressive, State Farm, Allstate, and Geico: Who is cheapest?

When buying auto insurance, four companies you’ll want quotes from are Progressive, State Farm, Allstate, and Geico. All four offer physical damage and liability coverage, but each has unique features and discounts that shoppers can select from. The table below breaks down some of the different options and features you can expect with each one.