The vehicle model requiring coverage is one of the largest factors that determines whether or not you can buy the most affordable car insurance for Uber drivers. Vehicles with limited speed and performance, good crash test ratings, or a track record of few liability claims will cost substantially less to insure than adrenaline junky models. The list below presents car insurance costs for a number of the cheapest automobiles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $1,394 |
| Honda CR-V EX 4WD | $1,426 |
| Ford F-150 XLT Regular Cab 2WD | $1,534 |
| Dodge Grand Caravan SE | $1,566 |
| Ford Edge SE AWD | $1,619 |
| Toyota RAV4 Sport 4WD | $1,652 |
| Volkswagen Jetta S 4-Dr Sedan | $1,659 |
| Nissan Altima 2.5 4-Dr Sedan | $1,652 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,705 |
| Ford Focus SES 4-Dr Sedan | $1,710 |
| Ford Escape Limited 2WD | $1,751 |
| Chevrolet Silverado LS Crew Cab 4WD | $1,770 |
| Ford Fusion Sport 4-Dr Sedan | $1,778 |
| Toyota Prius | $1,770 |
| Ford Explorer XLT 4WD | $1,791 |
| Chevrolet Silverado 3500HD LT Crew Cab 2WD | $1,802 |
| Jeep Wrangler Unlimited Rubicon 4WD 4-Dr | $1,829 |
| Chevrolet Equinox LS 2WD | $1,890 |
| Chevrolet Impala LT | $1,897 |
| Dodge Ram Quad Cab Laramie 2WD | $1,922 |
| Toyota Corolla LE | $1,989 |
| Honda Odyssey Touring | $2,024 |
| Jeep Grand Cherokee Limited 2WD | $2,031 |
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Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Rates do not factor in Denver, CO location which can alter rates considerably.
Looking at the numbers, we can tell that models like the Honda Accord, Honda CR-V, Ford F-150, and Dodge Grand Caravan are some of the most economical vehicles to insure for Uber vehicles.
One of the many things that determine insurance cost is where you live. Cities with larger populations or higher claim trends likely pay more, whereas less populated areas have the gratification of cheaper auto insurance rates.
The following table rates the most costly cities in Colorado for Uber drivers to purchase car insurance in. Denver makes the list at #1 with a yearly cost of $1,425 for the average policy, which is about $119 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Denver | $1,425 |
| 2 | Pueblo | $1,412 |
| 3 | Aurora | $1,375 |
| 4 | Commerce City | $1,368 |
| 5 | Lakewood | $1,324 |
| 6 | Northglenn | $1,303 |
| 7 | Arvada | $1,295 |
| 8 | Littleton | $1,293 |
| 9 | Security-Widefield | $1,291 |
| 10 | Colorado Springs | $1,290 |
| 11 | Ken Caryl | $1,287 |
| 12 | Thornton | $1,281 |
| 13 | Highlands Ranch | $1,267 |
| 14 | Centennial | $1,265 |
| 15 | Brighton | $1,235 |
| 16 | Westminster | $1,234 |
| 17 | Parker | $1,233 |
| 18 | Castle Rock | $1,224 |
| 19 | Broomfield | $1,203 |
| 20 | Boulder | $1,171 |
| 21 | Longmont | $1,168 |
| 22 | Greeley | $1,156 |
| 23 | Grand Junction | $1,120 |
| 24 | Loveland | $1,107 |
| 25 | Fort Collins | $1,089 |
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Rates are estimated as zip code location can influence premium rates greatly.
Finding out which companies quote the cheapest insurance rates for Uber drivers calls for a bit more effort in order to find the best policy. Each insurance company has their own unique process to set policy rates, so let’s examine the insurance companies that tend to be cheaper in Denver.
It’s important that you understand Denver, CO insurance rates are determined by lots of factors that control the cost of a policy. Simply turning a year older, increasing liability limits, or getting a few speeding tickets can cause premium changes that can cause some rates to be cheaper than competitors.
Find Cheaper Car Insurance for Your Uber Vehicle
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $825 |
| 2 | Grange | $987 |
| 3 | USAA | $1,039 |
| 4 | Nationwide | $1,121 |
| 5 | GEICO | $1,152 |
| 6 | Auto-Owners | $1,156 |
| 7 | Travelers | $1,219 |
| 8 | State Farm | $1,259 |
| 9 | American Family | $1,275 |
| 10 | Progressive | $1,322 |
| 11 | Amica | $1,394 |
| 12 | Allied | $1,453 |
| 13 | California Casualty | $1,488 |
| 14 | Farmers | $1,565 |
| 15 | Colorado Farm Bureau | $1,624 |
| 16 | MetLife | $1,866 |
| 17 | Allstate | $2,076 |
| 18 | Encompass | $2,187 |
| 19 | Safeco | $2,547 |
| 20 | Titan | $2,630 |
| Find Cheaper Rates Go | ||
The Hartford normally has some of the best car insurance rates in Denver at around $825 a year. Grange, USAA, Nationwide, and GEICO also make the cut as some of the best Denver, CO car insurance companies.
In the above example, if you have coverage with Nationwide and switched to Grange, you could earn yearly savings of in the vicinity of $134. Insureds with GEICO might save as much as $165 a year, and Auto-Owners policyholders might lower prices by $169 a year.
Remember that these policy rates are averaged across all types of insureds and vehicles and do not factor in an exact vehicle garaging location for Uber drivers. So the auto insurance company that fits your needs best may not even be in the list above. That affirms the importance of why you need to get auto insurance quotes using your own driver data and vehicle information.
How to get discounts on Denver insurance rates
Auto insurance companies that offer quotes for Uber drivers could also offer rate discounts that can reduce rates by as much as 35% or more if you meet eligibility requirements. Large insurance companies and some of their more popular discounts can be read below.
- The Hartford offers discounts for defensive driver, anti-theft, vehicle fuel type, good student, and bundle.
- American Family includes discounts for mySafetyValet, early bird, multi-vehicle, good student, and air bags.
- Progressive offers premium reductions for continuous coverage, multi-vehicle, good student, multi-policy, online signing, and online quote discount.
- Travelers policyholders can earn discounts including multi-policy, early quote, driver training, new car, save driver, and good student.
- Farmers Insurance may include discounts for mature driver, electronic funds transfer, multi-car, youthful driver, and alternative fuel.
- USAA has savings for defensive driver, family discount, military installation, safe driver, multi-vehicle, driver training, and good student.
- Liberty Mutual may offer discounts for newly retired, new vehicle discount, hybrid vehicle, multi-car, teen driver discount, and new move discount.
The information below illustrates the comparison of car insurance costs with and without discounts. The price estimates are based on a female driver, no accidents, no driving violations, Colorado state minimum liability limits, full coverage, and $250 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with claim-free, multiple vehicle, accident-free, vehicle safety, safe-driver, and homeowner discounts applied. When discounts are applied, the average savings per year on insurance for Uber drivers is 28% or $653.
Difference between liability only and full coverage rates
Saving money on insurance is probably important to the majority of drivers, and one good way to pay lower rates for insurance for Uber drivers is to not buy full coverage. The illustration below illustrates the difference between insurance costs when comparing full coverage to liability only. The premium estimates are based on no claims or driving citations, $1,000 deductibles, marital status is single, and no discounts are applied.
Averaged out for all age groups, comprehensive and collision coverage on your policy costs $1,476 per year over and above liability only. Many drivers may wonder when is the right time to remove full coverage. There is no set guideline that works best for making the decision to drop full coverage, but there is a guideline you can consider. If the annual cost of having full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.
The diagram below shows how choosing a deductible can change insurance costs when trying to find cheap insurance for Uber drivers. The rates are based on a married female driver, comprehensive and collision coverage, and no other discounts are factored in.
In the chart above, a 30-year-old driver could lower their car insurance rates by $334 a year by increasing from a $100 deductible up to a $500 deductible, or save $502 by choosing a $1,000 deductible. Younger drivers, like the age 20 example, have the ability to save as much as $712 or more just by choosing higher deductibles when buying full coverage.
When insureds make the decision to increase the deductibles on their policy, it is essential to have enough savings set aside to be able to pay the extra out-of-pocket expense that is associated with using high deductibles.
The insurance agents in Denver listed below are willing to help you determine which policy is best, since some drivers have questions and prefer to have some professional guidance when shopping for cheaper insurance for Uber drivers. It can be hard to find the cheapest rate yourself, and a professional agent can provide you satisfaction knowing your policy gives you suitable coverage if you have an accident. To locate a Denver insurance agent close to where you live, click the link after the list or click here to compare prices now.
Austin Domsch – State Farm Insurance Agent
400 S Colorado Blvd #890 – Denver, CO 80246 – (303) 321-0895
American Family Insurance – Abbie Davis Tanner Agency Inc
2855 Speer Blvd Suite D – Denver, CO 80211 – (303) 333-0205
Alan Deines – State Farm Insurance Agent
2120 S Ash St Unit 150 – Denver, CO 80222 – (303) 388-4400
More insurance agents in Denver, CO
How to find low-cost insurance for Uber drivers
The list below shows many thrifty ideas that can help you buy lower-cost coverage.
- Do not get tickets or violations
- Raise deductibles
- Buy safe vehicles
- Maintain a safe distance and avoid accidents
- Higher credit ratings may save you money
- Compare rates regularly and switch companies to save money
That last piece of advice is remarkably important, as we stressed in this article. Prices charged by companies in Denver change a lot, so don’t hesitate to change insurance companies if a better deal can be had.
Being loyal to a particular company is commendable, but it’s not a good idea if that inflexibility results in costing you money that could be going to better use. Take a couple minutes and shop around and find cheaper auto insurance for Uber drivers.