Best Cheap Car Insurance for Lyft Drivers in Louisiana

One of the more important things that impact the cost of insurance is where your residence is in Louisiana. Areas that are densely populated or have higher claim frequency like New Orleans, Terrytown, and Metairie likely pay more, whereas areas that tend to be more rural receive better rates.

The illustration below displays the priciest cities in Louisiana for Lyft drivers to purchase a policy in.

Rates are estimated as the specific area where the vehicle is garaged can change insurance rates greatly.

The make and model of vehicle driven is one of the biggest factors when comparing the best auto insurance for Lyft drivers. Vehicles with more horsepower, a lack of modern safety features, or a high likelihood of having liability claims will cost substantially more to insure than safer, lower-performance models. The list below shows auto insurance premiums for a number of the more afforable automobiles to buy insurance for.

Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Louisiana minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Rate information does not factor in specific Louisiana garaging location which can impact premium rates greatly.

Looking at the data, you can conclude that vehicles like the Honda CR-V, Jeep Grand Cherokee, Hyundai Santa Fe, Chevrolet Malibu, and Hyundai Elantra will be a few of the cheapest vehicles to insure for Lyft vehicles.

Shopping around for cost effective insurance is challenging, and finding out which companies have the cheapest car insurance rates for Lyft drivers will involve a little more work.

Every insurance provider has their own guidelines for filing rates in each state, so let’s rank the lowest cost car insurance companies in Louisiana.

Lowest Insurance Price Quotes for Your Lyft Vehicle

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USAA has some of the best car insurance rates in Louisiana at around $1,642 a year. GEICO, MetLife, Progressive, and Safeway also qualify as some of the lowest-priced Louisiana insurance companies.

As shown in the table above, if you currently have a policy with Safeway and switched to GEICO, you may realize annual savings of in the vicinity of $247. Policyholders with Southern Farm Bureau might save as much as $297 a year, and California Casualty insureds might cut rates by $362 a year.

To find the best cheap car insurance for Lyft drivers in Louisiana, click here or visit several of the following companies.

Bear in mind that those prices are averages for all drivers and vehicles in Louisiana and and are not calculated with a rate decrease for Lyft drivers. So the insurer that has the cheapest price for you may not even be shown in the list above. That’s why you need to get auto insurance quotes using your own driver data and vehicle information.

Full coverage or liability only

Finding the best cheap car insurance for Lyft drivers in Louisiana is important to most people, and one great way to reduce the cost of insurance is to not buy full coverage. The information below illustrates the difference between insurance prices with and without full coverage. The data is based on no violations or claims, $100 deductibles, single marital status, and no discounts are applied to the premium.

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On average, physical damage insurance costs $3,557 per year more than buying just liability insurance. That is a big expense that brings up the question if buying full coverage is worth the expense. There is no exact rule to exclude comprehensive and collision coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost minus the deductible, then you may need to consider dropping full coverage.

For example, let’s say your vehicle’s replacement cost is $6,500 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would receive is $5,500 after paying your policy deductible. If you are currently paying more than $550 a year for your policy with full coverage, then it might be time to consider dropping full coverage.

There are some conditions where only buying liability is not advised. If you haven’t paid off your loan, you are required to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not remove full coverage.

How to get discounts on Louisiana insurance

Insurers that provide the best cheap car insurance for Lyft drivers in Louisiana may additionally offer policy discounts that can reduce rates by 35% or more if you are eligible. Large car insurance companies and some of their more popular discounts are included below.

The example below illustrates the comparison of insurance costs with and without discounts applied. The rates are based on a female driver, no tickets, no at-fault accidents, Louisiana state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with multiple policy, passive restraint, vehicle safety, defensive driving course, homeowner, and multiple vehicle discounts applied. When taking advantage of discounts, the the average yearly reduction on car insurance for Lyft drivers is % or $.

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Best rates: Geico, Progressive, State Farm, or Allstate

When comparing rates for car insurance for Lyft vehicles in Louisiana, four good companies to start with are Geico, Progressive, State Farm, and Allstate. When added together, they insure almost half of all car insurance policies in America. The next table illustrates some of the different features shoppers can expect to find with each one.