Wouldn’t it be awesome if we knew the one auto insurance company that has the lowest rates for Uber drivers? It’s not that easy, however, as there are a lot of unknown factors such as the number of miles you drive each year, the crime level of your neighborhood, and if you have any driving citations. This article will discuss some of these things and educate you enough to have a good start in finding the cheapest car insurance in California.
The vehicle needing coverage is one of the largest factors when comparison shopping for the most economical insurance for Uber drivers. Vehicles with limited speed and performance, excellent safety ratings, or a low likelihood of having liability claims will cost substantially less to insure than adrenaline junky models.
The data below estimates insurance costs for some of the most cost-effective automobiles to insure in California.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$2,075|
|Honda Odyssey EX||$2,405|
|Toyota RAV4 Sport 2WD||$2,451|
|Ford Explorer Limited 4WD||$2,500|
|Honda Accord LX 4-Dr Sedan||$2,542|
|Honda CR-V LX 2WD||$2,549|
|Ford Escape XLS 2WD||$2,542|
|Ford Edge Sport 2WD||$2,578|
|Jeep Grand Cherokee Limited 2WD||$2,627|
|Ford Fusion SEL 4-Dr Sedan||$2,633|
|Toyota Corolla XRS||$2,627|
|GMC Sierra SLE Regular Cab 4WD||$2,637|
|Dodge Grand Caravan CV||$2,663|
|Dodge Ram Crew Cab SLT 2WD||$2,679|
|Ford F-150 STX Super Cab 4WD||$2,715|
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Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Rate quotes do not factor in zip code location which can raise or lower price quotes substantially.
Based upon the table data, we can infer that vehicles like the Hyundai Elantra, Honda Odyssey, and Toyota RAV4 should be some of the most economical vehicles to insure for Uber vehicles.
One of the many components that help determine the amount you pay for auto insurance is the neighborhood you call home. Cities with more crime and/or more people tend to have more expensive auto insurance rates, whereas areas with less people or fewer weather incidents tend to receive slightly lower rates.
The next table ranks the highest-priced areas in California for Uber drivers to buy an auto insurance policy in. Los Angeles makes the list at #1 with an annual rate of $2,083 for the average policy, which is approximately $174 per month.
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Premium costs are approximated as zip code location can influence rates greatly.
Comparing rates for budget car insurance is challenging, and deciding which company has the cheapest auto insurance rates for Uber drivers will take a bit more work.
Each company has a unique approach for filing rates in each state, so let’s take a look at the lowest cost auto insurance companies in California. It’s a good idea to be aware that California auto insurance rates are impacted by many factors which can substantially decrease or increase the policy price. Price variation is why Los Angeles drivers need to spend some time comparing rates to find affordable insurance rates for Uber drivers. Car insurance prices are influenced by many different factors and change frequently, so the best price the last time you shopped your coverage around may now be one of the higher cost companies.
Best Insurance Companies for Your Uber Vehicle
|Rank||Company||Cost Per Year|
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USAA has some of the best car insurance rates in Los Angeles at around $1,109 annually. Wawanesa, CSAA, Century National, and Nationwide also rank well as some of the cheapest Los Angeles, CA car insurance companies.
In this example, if you currently have coverage with CSAA and switched to USAA, you could realize a yearly savings of upwards of $77. Policyholders with Century National might save as much as $81 a year, and Nationwide customers might cut rates by $117 a year.
It’s important to note that these premiums are averages across all types of drivers and the different vehicles they drive and do not factor in an exact zip code location for Uber drivers. So the company that fits you best may not even be in the top 24 companies shown above. That helps illustrate why you need to compare as many prices as possible using your own driver and vehicle profiles.
Get discounts on Los Angeles car insurance
Auto insurance companies that offer quotes for Uber drivers may provide rate discounts that may potentially lower prices by as much as 30% if you can meet the requirements. Larger auto insurance companies and some of their more popular discounts include:
- State Farm has discounts for good driver, anti-theft, passive restraint, safe vehicle, student away at school, good student, and accident-free.
- Esurance offers discounts for emergency road assistance, homeowner, Switch & Save, anti-theft, online quote, and paid-in-full.
- Progressive has savings for online signing, multi-vehicle, online quote discount, continuous coverage, and multi-policy.
- Liberty Mutual includes discounts for teen driver discount, exclusive group savings, newly married, new graduate, safety features, newly retired, and multi-policy.
- Auto-Owners Insurance may include discounts for safe driver, multi-policy, safe vehicle, teen driver, and multiple vehicles.
- GEICO policyholders can earn discounts including military active duty, membership and employees, air bags, federal employee, and emergency military deployment.
The diagram below illustrates the comparison of insurance costs with and without discounts applied. The prices are based on a female driver, no violations or claims, California state minimum liability limits, comprehensive and collision coverage, and $250 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with multiple policy, passive restraint, homeowner, multiple vehicle, defensive driving course, and vehicle safety discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on auto insurance for Uber drivers is 28% or $608.
Choosing a high-quality insurer is difficult considering how many different insurance companies sell coverage in Los Angeles. The ranking information shown below could help you analyze which auto insurance companies you want to consider when comparing rates. The ratings below are for companies that insure vehicles across America, so companies without a large exposure are not taken into consideration for these rankings.
Top 10 Major Auto Insurers in Los Angeles Ranked by Customer Service
- AAA of Southern California
- State Farm
- The Hartford
- Mercury Insurance
- The General
- AAA Insurance
- American Family
Chances are good that you’re overpaying for Los Angeles car insurance
California auto insurance rates are influenced by many factors that control the cost of coverage. Getting older, adding a teenager to your policy, or having a fender bender may prompt premium changes that can make some companies cheaper in comparison to the competition. Also, auto insurance companies modify rates multiple times each year in order to maintain liquidity for claims. An extended period of higher than normal claims may cause a rate increase, while profitable underwriting can produce cheaper Los Angeles car insurance rates.
For instance, the data below analyzes the cheapest car insurance in Los Angeles, CA for a 40-year-old female driver with no accidents, a clean driving record, and good financial standing. If we estimate prices based on her personal risk profile, USAA may have the most affordable car insurance rates in Los Angeles at $1,868 per year. This is $217 more than the average rate paid by California drivers of $1,651. CSAA, Century National, Wawanesa, and Nationwide round out the rest of the best Los Angeles, CA auto insurance companies.
Let’s now give the driver in the first chart a claim, slightly worse credit, and a few traffic violations. Since each auto insurance company uses their own calculation to set policy rates, getting updated rate quotes most likely will result in a new list of the cheapest Los Angeles car insurance companies as shown below.
Grange now has the cheapest car insurance in Los Angeles with Progressive, GEICO, Mercury, and Allstate now rounding out the top five. This shows why Los Angeles drivers need to compare many different companies to get the most budget-friendly insurance rates for Uber drivers. Rates are calculated by many things and can change substantially, so the best company six months ago may now cost much more than other companies.
How to find economical insurance for Uber drivers
Lowering your rates is not difficult, and here are some of the better penny-pinching solutions that can help you get lower-cost coverage.
- Safe vehicles generally have lower rates
- Be a safe driver
- Multi-policy discounts save money
- Full coverage is expensive so only insure older vehicles for liability only
- Avoid accidents and claims
- Try to remain claim-free
- Compare prices frequently to find the best deal
The last suggestion is very valuable, as was stressed in the prior article. Insurance prices in Los Angeles vary greatly, so don’t be unwilling to switch companies if you can save money.
Many drivers tend to have loyalty to a certain company, but it’s not recommended if that faithfulness ends up costing you hundreds of dollars a year. Take a couple minutes and compare prices and find cheaper insurance for Uber drivers.
If you aren’t sure which coverage to buy and prefer to have some professional guidance when trying to find lower insurance rates for Uber vehicles, the insurance agencies below can probably provide answers to your questions and help you determine which car insurance company is the best fit. To locate a Los Angeles auto insurance agent close to where you live, click the link at the bottom.
Derek Ennis – State Farm Insurance Agent
3717 S La Brea Ave #202 – Los Angeles, CA 90016 – (323) 294-9400
InsurAide Insurance Agency, Inc. (IIA)
1081 Westwood Blvd Suite 218 – Los Angeles, CA 90024 – (310) 208-3548
Yvonne Solis – State Farm Insurance Agent
1375 Sunset Blvd – Los Angeles, CA 90026 – (213) 202-2800
Allstate Insurance: Carmina San Jose
628 N Vermont Ave Ste 12 – Los Angeles, CA 90004 – (213) 383-5120