Cheapest Auto Insurance for Lyft Drivers in Pennsylvania

The make and model of vehicle requiring coverage is probably the most important factor that determines whether or not you can buy the best cheap car insurance for Lyft drivers. Vehicles with limited top-end speed, an excellent safety record, or a low likelihood of having liability claims will cost much less to insure than high performance models. The next table showcases insurance prices for the most affordable automobiles to buy insurance for.

Above prices assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Pennsylvania minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, homeowner, and multi-vehicle. Prices do not factor in zip code location which can alter auto insurance rates greatly.

Based on these rates, you can presume that vehicles like the Honda CR-V, Chevrolet Traverse, and Hyundai Tucson are the less-costly vehicles to insure for Lyft vehicles.

Finding reliable, low-priced auto insurance is not the easiest thing to accomplish, and figuring out which company has the cheapest car insurance rates for Lyft drivers will take a bit more work. Each insurer has a proprietary formula to set their prices, so we need to take a look at the most budget-friendly car insurance companies in Pennsylvania.

It’s a good idea to know that Pennsylvania car insurance rates are based on many factors that may substantially change the price of your policy. Getting older, increasing deductibles, or getting a ticket for running a stop sign can trigger rate changes that may make certain companies higher when they were quite affordable.

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General Casualty may offer some of the best car insurance rates in Pennsylvania at around $740 per year. Travelers, Erie, USAA, and Penn National also are some of the cheaper Pennsylvania insurance companies.

In the above example, if you are a customer of USAA and switched to General Casualty, you could see an annual premium reduction of in the neighborhood of $77. Pennsylvania drivers with Penn National could save as much as $100 a year, and Auto-Owners customers might see rate reductions of $223 a year.

Bear in mind that those prices are averaged for all types of insureds and vehicles and and are not figured with a price decrease for Lyft drivers. So the company that has the cheapest rates for you may not even be shown in the list above. That points out the importance of why you need to compare rates from as many companies as possible using your own specific driver information and vehicle.

Liability only or full coverage

Finding the cheapest auto insurance for Lyft drivers in Pennsylvania should be important to most drivers, and one great way to buy cheaper insurance is to only pay for liability coverage. The illustration below illustrates the difference between insurance rates with full physical damage coverage compared to only buying liability only. Data assumes no accidents, no driving violations, $500 deductibles, single status, and no discounts are factored in.

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If we average all the age groups together, physical damage coverage costs $2,070 per year more than just insuring for liability. Many drivers will wonder when is the right time to remove full coverage. There is no definitive rule of when to phase out comp and collision coverage, but there is a general school of thought. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.

For example, let’s say your vehicle’s settlement value is $4,500 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, you would only receive $3,500 after the deductible is paid. If it’s costing in excess of $350 annually for full coverage, then it may be the right time to buy liability only.

There are some situations where only buying liability is not a good plan. If you still owe money on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should keep full coverage in place.

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

When researching car insurance for Lyft vehicles in Pennsylvania, four of the best places to start are Geico, State Farm, Allstate, and Progressive. Each one has slightly different coverage options that may influence which company you choose. The data below points out price, claims, and customer service ratings, as well as some optional coverages that are available for customers.

How to find the cheapest insurance for Lyft drivers

The list below shows some of the recommended money-saving ideas that can help Pennsylvania drivers find cheaper auto insurance.

• Buy a vehicle with excellent safety ratings
• Violations like speeding or DUI increase rates
• Drivers with good credit often pay less
• Staying accident-free helps keep rates low
• Higher comprehensive and collision coverage deductibles will save money
• Compare prices frequently to find the best deal

That last piece of advice is incredibly significant, as we pointed out in this piece. Auto insurance prices can be modified anytime, so drivers shouldn’t hesitate to change insurance companies if a lower-cost policy is available.

Having a favorite company is great, but it’s not recommended if it’s costing you thousands of dollars over the life of your policy. Now is a great time to shop around to find cheaper auto insurance for Lyft drivers.

Best cheap insurance quotes for Lyft vehicles

Consumers have many ways to quote cheap car insurance rates in Pennsylvania, but the most common ways are through an exclusive insurance agency such as Liberty Mutual or State Farm, an independent agent, or from a direct company like Geico.

They all follow the same basic process, but they differ in how they provide price quotes.

Independent insurance agencies write business for many companies and can get policy pricing from every one. They are not restricted to one company and can give you more rate choices, which may give you improved odds of finding cheaper coverage. If a cheaper price is found, it’s easy for the agent to move the policy and you do not have to find a new agent.

An exlusive, or captive, agency is restricted to quoting rates for a single company, examples being a Liberty Mutual or State Farm agent. They are unable to shop your coverage around, so you need to shop around if the rates are high.

Buying from a direct company means skip local agents and buy from a direct company like Geico or Esurance. Buying direct may be preferred by families who do not need risk management and know more than average about how car insurance works and possible exclusions.

Which method works best to find the cheapest auto insurance for Lyft drivers in Pennsylvania? It would be simple to say shopping direct results in the cheapest rates because there is no agent involved, but that is generally not the case. An argument could also be made that going through an independent agent is the best way to go since they can provide multiple quotes, but that is not necessarily true either. For the right applicant, exclusive agents may have prices that are impossible to beat.

Because it’s impossible to say who has the best car insurance rates, the only true way to buy the cheapest coverage is to get as many comparison quotes as possible. Smart shoppers will get quotes from all three types in order to have the best selection to choose from. For a list of companies with some of the cheapest Pennsylvania car insurance rates, click here to view.