Cheapest Car Insurance for Lyft Drivers in North Carolina

You have most likely seen the captivating ads from insurers like State Farm, Allstate, and GEICO that claim big savings. So drivers just need to pick the one with the catchiest commercial, right?

It’s not that easy, however, as there are a whole bunch of unknown aspects like whether or not you own a home, whether or not you are married, the vehicle you are insuring, and your financial stability. This article should teach you a little about these things and will hopefully give the reader a good start in finding the cheapest insurance in North Carolina.

Finding decent, low-cost car insurance is confusing at best, and finding out which company quotes the lowest-priced insurance rates for Lyft drivers may require even more perseverance. Every insurance provider uses a different method to set premium rates, so we need to take a look at the insurance companies with the overall cheapest rates in North Carolina.

Best Auto Insurance Prices for Your Lyft Vehicle

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Utica National generally has some of the best car insurance rates in North Carolina at around $636 annually. Progressive, NC Farm Bureau, Liberty Mutual, and Titan also qualify as some of the lowest-priced North Carolina car insurance companies.

As shown in the table above, if you are currently insured with Titan and switched to Progressive, you could see yearly savings of about $90. Drivers with GEICO might save as much as $103 a year, and Penn National policyholders might reduce prices by as much as $108 a year.

Be aware that those rates are averages for all drivers and vehicles and do not take into consideration a price discount for Lyft drivers. So the company that can offer the best rates for your situation may not even be shown in the company chart above. That is why you need to get rate quotes from many companies using your own driver information and specific vehicle type.

One of the key factors that auto insurance companies take into consideration when calculating car insurance rates is where you keep your car in North Carolina. More populated areas like Fayetteville, Gastonia, and Durham are more likely to pay higher prices, whereas areas with less traffic congestion and claims have the benefit of cheaper auto insurance prices.

The next table displays the higher priced cities in North Carolina for Lyft drivers to purchase a policy in.

Premium amounts are comparative as zip code location can revise coverage rates noticeably.

The make and model of vehicle requiring coverage is a large factor when looking for the cheapest auto insurance for Lyft drivers in North Carolina. Vehicles with high performance engines, poor passenger safety features, or an increased likelihood of liability claims will cost much more to insure than safer, lower-performance models. The list below illustrates insurance costs for a handful of the most affordable vehicles to buy insurance for.

Data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Rate information does not factor in North Carolina location which can affect coverage prices considerably.

Based upon the table data, we can presume that models like the Ford Escape, Toyota Prius, Chevrolet Traverse, Honda CR-V, and Toyota Camry are most likely to be a few of the most economical vehicles to insure for Lyft vehicles.

How to get discounts on North Carolina insurance rates

Insurers that provide the cheapest auto insurance for Lyft drivers in North Carolina may also offer rate discounts that could reduce prices by as much as 30% if you can meet the requirements. A few of the larger companies and some of their more popular discounts are outlined below.

• State Farm includes discounts for student away at school, multiple policy, passive restraint, multiple autos, driver’s education, good student, and defensive driving training.
• GEICO offers discounts including seat belt use, driver training, anti-theft, multi-policy, defensive driver, and good student.
• SAFECO has discounts for homeowner, teen safety rewards, teen safe driver, drive less, and multi-car.
• Farmers Insurance has savings for teen driver, switch companies, mature driver, bundle discounts, multi-car, and homeowner.
• AAA policyholders can earn discounts including pay-in-full, good student, anti-theft, education and occupation, and multi-car.
• USAA may include discounts for new vehicle, multi-policy, multi-vehicle, vehicle storage, annual mileage, military installation, and good student.

The illustration below illustrates the difference between insurance prices with and without discounts being applied to the rates. The costs are based on a female driver, no violations or accidents, North Carolina state minimum liability limits, comp and collision included, and $500 deductibles.

The first bar for each age group shows premium with no discounts. The second shows the rates with multiple policy, marriage, passive restraint, accident-free, defensive driving course, and claim-free discounts applied. When drivers take advantage of discounts, the the average amount saved on insurance for Lyft drivers is 28% or $422.

How accidents and tickets impact rates in North Carolina

The best way to find the cheapest auto insurance for Lyft drivers in North Carolina is to be a safe driver and avoid accidents and traffic citations. The example below highlights how traffic violations and accident claims can raise car insurance rates for different categories of driver ages. The price estimates are based on a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are taken into consideration.

In the prior example, the average cost of auto insurance per year with no accidents and a clean driving record is $1,356. Add in one speeding ticket and the average cost surges to $1,538, an increase of $182 each year. Now add in one accident along with the one speeding ticket and the annual cost of insurance for Lyft drivers increases to an average of $2,042. That’s an increase of $687, or $57 per month, just for not being attentive to the road!

How to find more affordable car insurance for Lyft drivers

It’s not impossible to find cheaper rates, and here are some money-saving solutions that can help drivers get the cheapest auto insurance.

• Increase deductibles to save money
• If possible, do not file small claims
• Drive attentively and avoid accidents
• Save money by observing traffic laws and speed limits
• Do not pay for full coverage on older vehicles
• Comparison shop frequently

The last item on the list is extraordinarily significant, as was stressed in the prior article. Prices charged by car insurance companies in North Carolina change a lot, so don’t be tentative to buy a different policy if you can save money. We understand brand loyalty, but is isn’t recommended if that dedication is costing a fortune every year. In just a couple of minutes you could compare prices to find cheaper insurance for Lyft drivers.