The vehicle model you are seeking coverage for is one of the largest factors when comparing quotes for affordable coverage for Lyft drivers. Vehicles with high performance engines, poor safety ratings, or a history of substantial liability claims will cost substantially more to insure than safer, lower-performance models. The list below estimates coverage costs for a number of the most cost-effective automobiles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,287|
|Honda Accord EX 4-Dr Sedan||$1,413|
|Honda CR-V EX-L 4WD||$1,446|
|Ford Escape Limited 2WD||$1,492|
|GMC Sierra SLE Crew Cab 2WD||$1,526|
|Toyota Tacoma Double Cab 4WD||$1,534|
|Ford F-350 XL Crew Cab Cabela Package 2WD||$1,666|
|Toyota Camry LE||$1,669|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$1,679|
|Chevrolet Malibu LT||$1,702|
|Hyundai Sonata SE 4-Dr Sedan||$1,720|
|Toyota RAV4 4WD||$1,730|
|Chevrolet Silverado LS Regular Cab 2WD||$1,730|
|Toyota Camry Hybrid||$1,748|
|Ford Explorer Limited 2WD||$1,758|
|Ford F-150 Lariat Super Cab 2WD||$1,765|
|Dodge Grand Caravan Crew||$1,758|
|Chevrolet Impala LTZ||$1,761|
|Toyota Corolla LE||$1,771|
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Price data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Price estimates do not factor in specific location information which can raise or lower auto insurance rates considerably.
Looking at the rates, you can expect makes and models like the Hyundai Elantra, Honda Accord, and Honda CR-V will definitely be a few of the most economical vehicles to insure for Lyft vehicles.
Finding out which companies have the best auto insurance rates for Lyft drivers takes a bit more effort in order to find a policy that fits your budget. Every auto insurer has their own guidelines for setting rates, so let’s examine the most competitive auto insurance companies in Ohio.
Keep in mind that Cleveland, OH auto insurance rates are calculated based on many things which can significantly increase or decrease the cost of coverage. Simply turning a year older, moving across town, or getting a ticket for running a stop sign can cause premium changes that can now make some companies cheaper than before.
Find the Cheapest Auto Insurance for Your Lyft Vehicle
|Rank||Company||Cost Per Year|
|7||Merchants Insurance Group||$771|
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Utica National quotes some of the most affordable car insurance rates in Cleveland at around $635 each year. Erie, Allied, Frankenmuth, and USAA also rank well as some of the lowest-priced Cleveland, OH car insurance companies.
As shown in the table above, if you have coverage with USAA and switched to Erie, you could realize an annual savings of in the vicinity of $72. Policyholders with Travelers could save as much as $72 a year, and Merchants Insurance Group policyholders might reduce rates by $110 a year.
It’s important to note that these estimates are averaged across all drivers and vehicles and and are not calculated with an exact zip code location for Lyft drivers. So the car insurance company that has the lowest price for you may not even be in the top 33 companies shown above. That point stresses why you need to compare as many prices as possible using your own individual information.
One of the many considerations that are used to help calculate insurance cost is where you live in Cleveland. Areas with more people or higher crime rates will most likely pay more, whereas areas that tend to be more rural benefit from lower prices.
The information below shows the highest-priced areas in Ohio for Lyft drivers to purchase a policy in. Cleveland makes the list at #4 with an annual cost of $1,222 for car insurance, which is around $102 each month.
|Rank||City||Premium Per Year|
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Prices are approximated as specific location information can impact coverage rates significantly.
Auto insurance rates are higher with tickets and accidents
In a perfect world, the ideal way to find low auto insurance prices in Cleveland for Lyft vehicles is to be a good driver and avoid accidents and violations. The example below highlights how speeding tickets and fender-benders increase insurance costs for each age group. The costs are based on a married male driver, full physical damage coverage, $250 deductibles, and no other discounts are factored in.
The data in the chart shows the average cost of auto insurance in Cleveland per year with no violations or accidents is $1,390. Get written up for one speeding ticket and the average cost surges to $1,596, an increase of $206 each year. Next add one accident along with the one speeding ticket and the yearly cost of auto insurance for Lyft drivers goes up to an average of $2,175. That’s an increase of $785, or $65 per month, just for not being attentive to the road!
The information below demonstrates how deductibles can affect insurance rates when researching cheap insurance for Lyft drivers. The information is based on a married female driver, comprehensive and collision coverage, and no discounts are taken into consideration.
A 30-year-old driver could save $178 a year by switching from a $100 deductible to a $500 deductible, or save $272 by switching to a $1,000 deductible. Younger drivers, like the age 20 example, can save as much as $384 every year just by using higher deductibles.
If you do decide to increase your deductibles, it is necessary to have enough savings set aside to cover the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Types of discounts on Cleveland auto insurance
Insurers that offer coverage for Lyft drivers may additionally offer special discounts that could reduce prices by 40% or more if you are eligible for them. Larger auto insurance companies and a summarized list of policyholder discounts include:
- State Farm may include discounts for accident-free, anti-theft, defensive driving training, good student, multiple policy, driver’s education, and student away at school.
- Progressive policyholders can earn discounts including online signing, homeowner, multi-vehicle, multi-policy, good student, and continuous coverage.
- Progressive discounts include continuous coverage, good student, online signing, online quote discount, multi-policy, homeowner, and multi-vehicle.
- MetLife includes discounts for multi-policy, defensive driver, accident-free, good student, claim-free, and good driver.
- Farm Bureau offers premium reductions for youthful driver, renewal discount, safe driver, multi-policy, driver training, and good student.
- GEICO has savings for anti-lock brakes, multi-vehicle, multi-policy, driver training, and federal employee.
- SAFECO may have discounts that include teen safe driver, anti-lock brakes, safe driver, homeowner, anti-theft, and accident prevention training.
The information below illustrates the comparison of premium costs with and without discounts being applied to the rates. The costs are based on a female driver, no claims, a clean driving record, Ohio state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with anti-theft, defensive driving course, marriage, multiple policy, passive restraint, and safe-driver discounts applied. With discounts applied, theaverage amount saved on auto insurance for Lyft drivers is 28% or $458.
Why you should be shopping around
Cleveland auto insurance rates are impacted by many factors that may substantially change the cost of coverage. Simply getting older, moving across town, or getting a couple of tickets can trigger price changes resulting in some rates now being more affordable than the competition.
Also, auto insurance companies change their prices without warning to ensure their profitability. An unexpected high level of claims may result in increased rates, while profitable underwriting can cause more affordable Cleveland car insurance rates.
To illustrate this point, the graph below shows the cheapest car insurance in Cleveland, OH for a 45-year-old female driver with a good driving record, no prior claims, and a good credit rating. If we compare prices based on her current rating profile, Utica National might quote the most affordable car insurance rates in Cleveland at $804 annually. This is $236 less than the average premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and USAA round out the rest of the top five cheapest Cleveland, OH auto insurance companies.
The chart below compares rates after we give the driver from the first example a claim, bad credit, and a traffic citation. Because each insurer has their own process for determining prices, comparing prices may now result in a substantially altered list of the cheapest car insurance companies in Cleveland as shown below.
Cincinnati Insurance now has the lowest price on auto insurance in Cleveland with Merchants Insurance Group, Grange Mutual, Motorists Mutual, and General Casualty now being in the top five. This demonstrates why it is so important to compare rates when trying to get the best insurance quotes for Lyft drivers.
Insurance rates are made up of many things and change frequently, so the cheapest rate the last time you compared rates may now not even be in the top five.
The Cleveland car insurance agencies listed below are willing to provide answers to your questions and help you determine which auto insurance policy fits you best, since many people would rather have a consultation when buying car insurance for Lyft vehicles. It’s not always easy to find the cheapest auto insurance company, and getting advice from a licensed agent can add satisfaction knowing you have suitable coverage if you have an accident. To locate a Cleveland insurance agent close to you, click the link after the list.
The Brooks and Stafford Company
55 Public Square #1650 – Cleveland, OH 44113 – (216) 696-3000
Allstate Insurance: Teresa C. Paez
15105 Puritas Ave – Cleveland, OH 44135 – (216) 362-6526
State Farm: Stan Harris
12429 Cedar Road, Suite 26 – Cleveland Heights, OH 44106 – (216) 791-1006
1701 E 12th St #101 – Cleveland, OH 44114 – (216) 795-1995
Rivera’s Insurance Agency, Inc.
3778 Pearl Rd – Cleveland, OH 44109 – (216) 661-7923