The words “low-priced” and “insurance” probably shouldn’t be used in the same sentence, specifically when you are searching for the cheapest auto insurance for Lyft drivers. Because of the high cost, let’s open your eyes to some of the things that can significantly affect car insurance rates, and find out if we can help you lower the price of your next policy.
For Lyft vehicles, one of the largest considerations that are used to help calculate insurance cost is where you normally keep your vehicle. Larger areas tend to have higher auto insurance costs, whereas areas with less congestion have the enjoyment of a little cheaper coverage.
The next table rates the highest-priced areas in California for Lyft drivers in which to purchase auto insurance. Chula Vista is ranked at #24 with an annual cost of $1,311 for coverage, which is about $109 monthly.
|Rank||City||Premium Per Year|
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Prices are comparative as specific Chula Vista zip code can lower or raise auto insurance rates substantially.
The type of vehicle driven is one of the main factors when consumers are trying to find cheap coverage for Lyft drivers. Vehicles with more horsepower, poor crash test ratings, or a track record of large liability claims will cost much more to insure than more economical and safe models.
The table below ranks coverage rates for the most cost-effective automobiles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$794|
|Honda CR-V EX-L 2WD||$812|
|Ford Edge SEL AWD||$925|
|Jeep Grand Cherokee Laredo 4WD||$943|
|Ford Escape Limited 4WD||$949|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$953|
|Toyota Corolla LE||$993|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$1,011|
|Ford Fusion SEL 4-Dr Sedan||$1,017|
|Kia Optima LX||$1,011|
|Ford F-150 XLT Super Cab 4WD||$1,036|
|Dodge Grand Caravan Crew||$1,052|
|Ford Explorer Eddie Bauer AWD||$1,061|
|Toyota Camry LE||$1,062|
|Toyota RAV4 4WD||$1,068|
|Toyota Camry Hybrid||$1,080|
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Price information does not factor in vehicle garaging location which can decrease or increase rates considerably.
Looking at the rates, you can see that vehicles like the Honda Accord, Honda CR-V, Ford Edge, Jeep Grand Cherokee, and Ford Escape are most likely to be some of the cheaper vehicles to insure for Lyft vehicles.
Full coverage or liability only
Buying cheaper insurance should be important to the majority of people, and an easy way to find cheap insurance for Lyft drivers is to only buy liability coverage. The information below shows the comparison of premium costs when comparing full coverage to liability only. The rates are based on no driving violations, no at-fault accidents, $100 deductibles, single marital status, and no discounts are taken into consideration.
If we average the cost for all age groups, full coverage on your policy costs $3,444 per year more than just buying liability only. That is a significant amount which raises the question if buying full coverage is a waste of money. There isn’t a written rule for eliminating physical damage coverage, but there is a guideline you can consider. If the annual cost of coverage is more than about 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.
There are some situations where dropping full coverage is not in your best interest. If you haven’t paid off your loan, you must maintain physical damage coverage as part of the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.
Bad driving habits will cost you more
A great way to enjoy the most affordable insurance premiums in California for Lyft vehicles is to be a good driver and have a clean driving record. The chart below demonstrates how speeding tickets and at-fault accidents can influence car insurance costs for each different age group. The rates are based on a married female driver, comprehensive and collision coverage, $100 deductibles, and no other discounts are factored in.
In the chart above, the average cost of a car insurance policy in California per year with no accidents or violations is $2,650. Add in two speeding tickets and the average cost hikes up to $3,786, an increase of $1,136 each year. Now get one accident along with the two speeding tickets and the yearly cost of insurance for Lyft drivers jumps again to an average of $4,933. That’s an increase of $2,283, or $190 per month, just for not paying attention while driving!
Are you paying too much for car insurance in Chula Vista?
Chula Vista, CA insurance rates are influenced by many factors which can significantly increase or decrease the price of your policy. Improving your credit rating, having a claim, or getting a reckless driving citation can cause premium changes that can make some companies more affordable than others.
Additionally, insurance companies file new California car insurance rates every year or even multiple times each year as an adjustment for underwriting gains or losses. An unexpected high level of claims may cause higher priced premiums, while profitable underwriting can produce lower-priced Chula Vista car insurance rates.
The data below shows the companies that have the cheapest car insurance in Chula Vista, CA for a 35-year-old female driver with no prior accidents, a clean driving record, and great credit. If we look at prices based on her personal profile, USAA might offer the most affordable car insurance rates in Chula Vista at $1,127 a year. This is $524 less than the average price paid by California drivers of $1,651. Wawanesa, CSAA, Century National, and Nationwide are the remaining most affordable Chula Vista, CA auto insurance companies.
In this example, we will give the driver from the first set of rates an at-fault accident, a little lower credit rating, and a speeding ticket. Since every car insurance company has a different process to establish rates, comparing rates may now present a slightly different list of the cheapest car insurance companies in Chula Vista as shown below.
Grange now has the cheapest price in Chula Vista with Mercury, Allstate, Progressive, and GEICO now being in the top five. This example shows why Chula Vista drivers need to compare as many rates as possible when trying to find the best auto insurance quotes for Lyft drivers. Car insurance prices can be determined by many things and change frequently, so the most economical option the last time you compared rates may now be priced much higher than other options.