The words “bargain” and “auto insurance” probably shouldn’t be used together, especially when you are searching for the cheapest auto insurance for Lyft drivers. Because of the high cost, let’s get started by showing you a few of the factors that have an impact on car insurance prices, and see if you can reduce the price of the next policy you buy.
For Lyft vehicles, one of the more important considerations that are looked at to determine insurance cost is where your residence is in Denver. Areas with more people or even just a higher incidence of claims tend to have higher auto insurance costs, whereas areas with less congestion tend to receive slightly lower rates.
The illustration below lists the most expensive cities in Colorado for Lyft drivers to buy an auto insurance policy in. Denver is ranked at #1 with an annual rate of $1,439 on average, which is approximately $120 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Denver | $1,439 |
| 2 | Pueblo | $1,412 |
| 3 | Commerce City | $1,368 |
| 4 | Aurora | $1,361 |
| 5 | Security-Widefield | $1,343 |
| 6 | Northglenn | $1,342 |
| 7 | Lakewood | $1,337 |
| 8 | Ken Caryl | $1,326 |
| 9 | Colorado Springs | $1,316 |
| 10 | Arvada | $1,308 |
| 11 | Thornton | $1,281 |
| 12 | Highlands Ranch | $1,279 |
| 13 | Littleton | $1,267 |
| 14 | Centennial | $1,265 |
| 15 | Parker | $1,257 |
| 16 | Castle Rock | $1,248 |
| 17 | Brighton | $1,235 |
| 18 | Westminster | $1,234 |
| 19 | Boulder | $1,207 |
| 20 | Longmont | $1,179 |
| Find Cheaper Insurance Go | ||
Rate quotes are approximated as the specific Denver residence address can modify prices considerably.
The make and model of vehicle you are seeking coverage for is probably the most important factor that determines whether or not you can buy low-priced car insurance for Lyft drivers. Vehicles with limited top-end speed, excellent safety ratings, or low incidents of liability claims will cost much less to insure than higher performance models.
The list below estimates auto insurance costs for a number of the most budget-friendly automobiles to buy coverage for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $1,413 |
| Honda CR-V EX 4WD | $1,446 |
| Honda Accord LX 4-Dr Sedan | $1,618 |
| Honda Odyssey EX | $1,640 |
| Jeep Grand Cherokee Laredo 4WD | $1,672 |
| Ford Explorer Eddie Bauer AWD | $1,702 |
| Toyota Tacoma Double Cab 4WD | $1,710 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,759 |
| Toyota Camry SE | $1,767 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $1,778 |
| GMC Sierra 2500HD SLE Regular Cab 4WD | $1,788 |
| Dodge Grand Caravan CV | $1,813 |
| GMC Sierra 3500HD SLE Regular Cab 2WD | $1,821 |
| Toyota Camry Hybrid | $1,910 |
| Chevrolet Malibu LS | $1,915 |
| Toyota Prius | $1,923 |
| Ford F-150 STX Regular Cab 4WD | $1,939 |
| Ford Edge SEL AWD | $2,007 |
| Chevrolet Impala LTZ | $2,015 |
| Toyota RAV4 Limited 2WD | $2,047 |
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Information does not factor in specific garaging location which can raise or lower rates substantially.
By looking at the data, we can tell that vehicles like the Ford Escape, Honda CR-V, and Honda Accord are going to be some of the most economical vehicles to insure for Lyft vehicles.
Shopping around for affordable car insurance is challenging, and deciding which companies offer the most affordable insurance rates for Lyft drivers involves even more diligence.
Every car insurance company has a different process for establishing rates, so we need to take a look at the insurance companies that tend to be cheaper in Denver, CO.
Find Cheaper Car Insurance for Your Lyft Vehicle
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $825 |
| 2 | Grange | $987 |
| 3 | USAA | $1,009 |
| 4 | Nationwide | $1,109 |
| 5 | GEICO | $1,152 |
| 6 | Auto-Owners | $1,192 |
| 7 | Travelers | $1,207 |
| 8 | State Farm | $1,222 |
| 9 | American Family | $1,314 |
| 10 | Progressive | $1,376 |
| 11 | Amica | $1,394 |
| 12 | Allied | $1,439 |
| 13 | California Casualty | $1,444 |
| 14 | Colorado Farm Bureau | $1,624 |
| 15 | Farmers | $1,629 |
| 16 | MetLife | $1,811 |
| 17 | Allstate | $2,015 |
| 18 | Encompass | $2,253 |
| 19 | Safeco | $2,547 |
| 20 | Titan | $2,711 |
| View More Rates Go | ||
The Hartford generally has some of the best car insurance rates in Denver at around $825 annually. Grange, USAA, Nationwide, and GEICO would also make the list of some of the most economical Denver, CO insurance companies.
As illustrated above, if you are insured with Grange and switched to The Hartford, you might achieve an annual premium reduction of in the vicinity of $162. Colorado drivers with USAA may save as much as $184 a year, and Nationwide insureds might reduce prices by as much as $284 a year.
To see if your current coverage is too expensive, click here to start a quote or quote prices from the following companies.
Be aware that those policy prices are averages for all types of drivers and the different vehicles they drive and do not take into consideration an exact zip code location for Lyft drivers. So the auto insurance company that is most affordable for your situation may not even be in the top 21 companies in the list above. That is why you need to compare rates from multiple companies using your own driver information and specific vehicle type.
Responsible drivers pay cheaper Denver insurance rates
One of the best ways to enjoy affordable insurance prices in Denver for Lyft vehicles is to pay attention while driving and avoid accidents and violations. The diagram below highlights how speeding tickets and at-fault collisions can affect insurance prices for each age group. The data assumes a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.
The data in the chart shows the average cost of auto insurance in Denver per year with a clean driving record and no accidents is $1,720. Get two speeding tickets and the average cost increases to $2,379, an increase of $660 each year. Now add in one accident along with the two speeding tickets and the 12-month cost of insurance for Lyft drivers jumps again to an average of $3,039. That’s an increase of $1,319, or $110 per month, just for not being more responsible behind the wheel!
Get discount Denver auto insurance rates
Auto insurance companies that sell policies for Lyft drivers may additionally offer policy discounts that could potentially reduce rates by 35% or more if you meet specific criteria. A list of insurance companies and some of the discounts are included below.
- GEICO may include discounts for air bags, seat belt use, emergency military deployment, defensive driver, anti-theft, five-year accident-free, and membership and employees.
- USAA has discounts for new vehicle, military installation, safe driver, good student, and vehicle storage.
- Progressive has savings for multi-vehicle, good student, homeowner, online signing, and multi-policy.
- American Family offers premium reductions for air bags, good driver, mySafetyValet, multi-vehicle, and good student.
- Esurance policyholders can earn discounts including DriveSense, defensive driver, safety device, good student, homeowner, online shopper, and good driver.
- Farmers Insurance offers discounts for bundle discounts, homeowner, alternative fuel, early shopping, and mature driver.
- State Farm may offer discounts for accident-free, Steer Clear safe driver discount, Drive Safe & Save, multiple autos, multiple policy, and safe vehicle.
The chart below visualizes the comparison of insurance costs with and without some available policy discounts. The premiums are based on a female driver, no tickets, no at-fault accidents, Colorado state minimum liability limits, full coverage, and $100 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with anti-theft, multiple vehicle, marriage, defensive driving course, passive restraint, and accident-free discounts applied. With discounts applied, the average savings per year on insurance for Lyft drivers is 28% or $722.
The insurance agents in Denver listed below can help you decide which coverages are best, since some drivers have questions and prefer to have a professional recommendation when buying car insurance for Lyft vehicles. It can be difficult to find the best policy on your own, and insurance agents can bring peace of mind knowing your coverage gives you sufficient coverage at claim time.
To locate a Denver insurance agent nearest to you, click the button link following the list.
State Farm: Sid Priday
2955 Inca St #1b – Denver, CO 80202 – (303) 825-7909
Austin Domsch – State Farm Insurance Agent
400 S Colorado Blvd #890 – Denver, CO 80246 – (303) 321-0895
Todd Savage – State Farm Insurance Agent
2401 E 6th Ave – Denver, CO 80206 – (303) 722-1139
Stephanie Sponder – State Farm Insurance Agent
671 E 19th Ave – Denver, CO 80203 – (303) 744-0757
More insurance agents in Denver, CO
How to find cheaper car insurance for Lyft drivers
Below you’ll find some of the better money-saving suggestions that can help Colorado drivers find cheap coverage.
- Remain accident-free and save
- Better credit scores save money
- Higher deductibles save money
- Drive a car with a high safety rating
- Do not waste money insuring older vehicles for full coverage
- Be a cautious driver
- Comparison shop at least every other year
The last suggestion is certainly significant, as we pointed out in this write-up. Car insurance prices in Denver change a lot, so don’t hesitate to switch to a new company if a lower price can be found. Brand loyalty is great, but it isn’t a good idea if that loyalty results in overpaying hundreds every year. If you have a few minutes, shop around and find cheaper auto insurance for Lyft drivers.