What Insurance is Cheapest for Lyft Drivers in Pittsburgh?

The make and model of vehicle requiring coverage is one of the biggest factors when trying to find the best cheap auto insurance for Lyft drivers. Vehicles with reasonable performance levels, good crash test ratings, or low incidents of liability claims will cost significantly less to insure than adrenaline junky models. The information below showcases car insurance costs for some of the most economical automobiles to buy coverage for.

Cheapest Vehicles to Insure in Pittsburgh, PA
Make, Model, and Trim Level Estimated Cost for Full Coverage
Honda CR-V LX 4WD $964
Ford Escape Limited 4WD $1,045
Honda Accord LX 4-Dr Sedan $1,050
Ford F-150 STX Regular Cab 2WD $1,057
Toyota Prius $1,067
GMC Sierra SLE Regular Cab 2WD $1,139
Toyota RAV4 2WD $1,148
Toyota Camry LE $1,139
Dodge Grand Caravan Crew $1,161
Toyota Tacoma Double Cab 4WD $1,169
Honda Odyssey LX $1,175
Volkswagen Jetta S 2.5 Station Wagon $1,177
Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr $1,186
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Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Pennsylvania minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Table data does not factor in Pittsburgh, PA location which can alter price quotes significantly.

Based upon the rates shown, you can assume that makes and models like the Honda CR-V, Ford Escape, Honda Accord, Ford F-150, and Toyota Prius are most likely to be a few of the cheapest vehicles to insure for Lyft vehicles.

Determining which companies quote the cheapest auto insurance rates for Lyft drivers will require a little more sweat than just quoting one company’s rates. Each auto insurance company has their own formula for setting rates, so let’s look at the rankings for the most affordable auto insurance companies in Pennsylvania.

It’s important that readers know that Pennsylvania auto insurance rates are determined by lots of factors which can substantially change the cost of a policy. Getting older, increasing deductibles, or getting a reckless driving citation may cause policy rate changes resulting in some rates now being cheaper than before.

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General Casualty may have some of the best car insurance rates in Pittsburgh at around $748 annually. USAA, Travelers, Penn National, and Erie would also make the list of some of the cheaper Pittsburgh, PA auto insurance companies.

As depicted above, if you are a policyholder with Travelers and switched to General Casualty, you may see an annual savings of approximately $55. Policyholders with Penn National may save as much as $68 a year, and Erie customers might reduce rates by $68 a year.

Remember that these rates are averaged for all types of drivers and the different vehicles they drive and do not factor in a specific vehicle garaging location for Lyft drivers. So the company that is most affordable for your situation may not even be in the top 30 companies in the list above. That helps illustrate why you need to compare prices as often as possible using your own individual information.

The diagram below illustrates how your deductible choice can influence insurance costs when searching for cheap insurance for Lyft drivers. The rates are based on a single male driver, full coverage, and no additional discounts are factored in.

A 30-year-old driver could pocket $304 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $460 by changing to a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could drop their prices up to $888 or more just by choosing larger deductibles. When increasing deductibles, it is a good idea to have plenty of savings on hand to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

Drive responsibly or pay higher rates

The easiest way to find the cheapest auto insurance premiums in Pittsburgh for Lyft vehicles is to be a careful driver and not receive tickets or have accidents. The information below illustrates how violations and at-fault claims can increase auto insurance costs for different age groups of insureds. The rate quotes are based on a single male driver, full coverage, $500 deductibles, and no policy discounts are applied.

In the example above, the average cost of a car insurance policy in Pennsylvania per year with no accidents and a clean driving record is $1,554. Add in one speeding ticket and the average cost hikes up to $1,749, an increase of $195 each year. Then add two accidents along with the one speeding ticket and the annual cost of auto insurance for Lyft drivers goes up to an average of $3,525. That’s an increase of $1,971, or $164 per month, just for being a careless driver!

Full coverage or liability only

Saving money on auto insurance should be important to the majority of vehicle owners, and one easy way to save on the cost of insurance for Lyft drivers is to not buy comprehensive and collision coverage. The diagram below shows the difference between insurance costs with full coverage and liability only. The premium estimates are based on no claims or violations, $1,000 deductibles, single marital status, and no other discounts are factored in.

Averaged for all age groups, comprehensive and collision coverage on your policy costs $1,499 per year more than carrying just liability coverage. At some point, every insured wonders when is it safe to stop buying full coverage. There is no exact formula of when to stop paying for comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of coverage is more than 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.

For example, let’s pretend your vehicle’s replacement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $6,000 after the policy deductible has been paid. If premiums are more than $600 annually for your policy with full coverage, then you may want to consider only buying liability coverage.

There are some circumstances where only buying liability is not recommended. If you still owe a portion of the original loan, you have to carry full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.

How to find budget-friendly auto insurance for Lyft drivers

Lowering your rates is not difficult, and here are some of the better thrifty ideas that can help you get cheaper auto insurance.

The last tip in the list is particularly crucial, as was noted in the prior information. Coverage rates change constantly, so you should be ready to buy a policy from a new company if a better rate can be found.

We understand brand loyalty, but we do not recommend it if that inflexibility results in costing you lots of money. If you have a few minutes, now is a great time to compare prices and find cheaper insurance for Lyft drivers in Pittsburgh.