For Lyft vehicles, one of the big components that are used to help calculate car insurance rates is where your car is garaged. More densely populated places like Winchester, Paradise, and Las Vegas tend to have higher rates, whereas areas with lower crime rates and fewer weather claims have the benefit of cheaper car insurance.
The following table sorts the highest-priced areas in Nevada for Lyft drivers to buy an auto insurance policy in.
|Rank||City||Premium Per Year|
|7||North Las Vegas||$1,844|
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Rate information is approximated as the specific garaging location can change premiums greatly.
Deciphering which company offers the lowest-priced insurance rates for Lyft drivers in Nevada requires a bit more effort than just picking a company at random. Each insurer uses their own formula for determining rates in each state, so we need to take a look at the insurance companies that tend to be cheaper in Nevada.
Compare Cheap Insurance Quotes for Your Lyft Vehicle
|Rank||Company||Cost Per Year|
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Travelers quotes some of the best car insurance rates in Nevada at around $939 per year. Allied, Capital, Oregon Mutual, and American Family also make the cut as some of the most economical Nevada car insurance companies.
As shown above, if you are a customer of Oregon Mutual and switched to Allied, you could earn an annual premium reduction of roughly $209. Nevada drivers with American Family may save as much as $281 a year, and Progressive insureds might realize rate reductions of up to $289 a year.
To see if you're overpaying, click here or quote prices from the following companies.
It's important to note that these premium estimates are averaged across all insureds and vehicles and do not factor in a rate discount for Lyft drivers. So the insurer that can offer you the best price may not even be in the list above. That illustrates why you need to get rate quotes from many companies using your own driver and vehicle profiles.
The make and model of vehicle you are buying coverage for is one of the primary factors when shopping around for the best auto insurance for Lyft drivers. Vehicles with lots of speed or power, poor safety ratings, or a track record of large liability claims will cost quite a bit more to insure than safer models.
The list below showcases auto insurance costs for a number of the most budget-friendly automobiles to insure in Nevada.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$669|
|Ford Escape XLT 4WD||$747|
|Ford Explorer Eddie Bauer 2WD||$749|
|Ford F-150 XL Regular Cab 2WD||$789|
|Chevrolet Impala LT||$791|
|Toyota RAV4 Limited 2WD||$799|
|Honda Accord EX-L 4-Dr Sedan||$817|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$822|
|Ford Edge Sport 2WD||$833|
|Jeep Grand Cherokee Limited 2WD||$848|
|Nissan Rogue S 2WD||$850|
|Kia Optima LX||$859|
|Dodge Grand Caravan CV||$852|
|Chevrolet Equinox LT 2WD||$867|
|Toyota Tacoma Double Cab 4WD||$873|
|Ford Focus SE 4-Dr Sedan||$872|
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Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Estimates do not factor in the specific area where the vehicle is garaged which can lower or raise prices noticeably.
Looking at the rates, cars like the Honda CR-V, Ford Escape, Ford Explorer, Ford F-150, and Chevrolet Impala are going to be a few of the cheaper vehicles to insure for Lyft vehicles.
The example below illustrates how choosing a deductible can change insurance costs when quoting cheap insurance for Lyft drivers in Nevada. The rates are based on a married male driver, comp and collision included, and no discounts are factored in.
As shown above, a 40-year-old driver could pocket $290 a year by changing from a $100 deductible up to a $500 deductible, or save $436 by using a $1,000 deductible. Even younger insureds, like the 20-year-old category, could shave up to $978 each year by selecting a higher deductible.
If you make the decision to raise deductibles, it is necessary to have enough savings to enable you to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Impact of careless driving on Nevada insurance rates
The common sense way to receive good insurance premiums in Nevada for Lyft vehicles is to drive attentively and maintain a clean driving record. The illustration below demonstrates how citations and at-fault claims can drive up insurance costs for each different age category. The price estimates are based on a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are taken into consideration.
The data above shows the average cost of auto insurance in Nevada per year with no accidents and a clean driving record is $1,321. Get written up for one speeding ticket and the average cost swells to $1,543, an increase of $222 each year. Next add one accident along with the one speeding ticket and the annual cost of insurance for Lyft drivers in Nevada goes up to an average of $2,164. That's an increase of $843, or $70 per month, just for not driving carefully!
Get discounts on Nevada auto insurance rates
Auto insurance companies that provide coverage for Lyft drivers may also provide price discounts that may potentially lower prices by as much as 40% or more if you meet specific eligibility requirements. A list of companies and a summarized list of policyholder discounts are shown below.
- GEICO may include discounts for defensive driver, anti-theft, multi-vehicle, air bags, military active duty, and emergency military deployment.
- MetLife discounts include multi-policy, good student, accident-free, good driver, defensive driver, claim-free
- State Farm offers discounts including accident-free, safe vehicle, defensive driving training, multiple policy, good driver, anti-theft, and multiple autos.
- Progressive has discounts for good student, homeowner, multi-policy, online signing, and continuous coverage.
- Mercury Insurance offers premium reductions for professional/association, anti-theft, good driver, location of vehicle, low natural disaster claims, good student, and ease of repair.
- 21st Century may have discounts that include student driver, theft prevention, driver training, homeowners, and defensive driver.
- Allstate has savings for multi-policy, good payer, senior citizen, new car, and auto/life discount.
The chart below illustrates the difference between premium costs with and without discounts. The data assumes a male driver, no violations or accidents, Nevada state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multiple policy, anti-theft, homeowner, claim-free, defensive driving course, and passive restraint discounts applied. When discounts are applied, the average savings per year on insurance for Lyft drivers is 27% or $446.
How to find economical car insurance for Lyft drivers in Nevada
The list below shows some of the better penny-pinching solutions that can help drivers buy lower-cost coverage.
- Remain accident-free and save
- Pay less by remaining claim-free
- Increase your deductibles
- Do not waste money insuring older vehicles for full coverage
- Do not get traffic citations
- Shop around for cheaper rates regularly
That final tip is notably significant, as was stressed in this piece. Coverage rates can be changed at any time, so drivers shouldn't be resistant to buy from a different company if a lower price can be found. Many drivers prefer to stick with one company, but it isn't a good idea if that loyalty results in overpaying a lot of money every month. It only takes a couple minutes to compare prices and find cheaper car insurance for Lyft drivers.