The words “low-priced” and “insurance” really should not be used together, especially when you are trying to find the cheapest auto insurance for Lyft drivers. To help control this cost, let’s start off by going over a few of the factors that influence car insurance premiums, and see if we can help you reduce the price of your next policy.
Shopping around for affordable car insurance is tough enough, and finding out which company has the lowest-priced car insurance rates for Lyft drivers takes a little more work. Every insurance provider has a different process for setting prices, so let’s rank the car insurance companies with the overall cheapest rates in Jersey City, NJ.
It’s important to know that Jersey City car insurance rates are impacted by many things that will increase or decrease the price you pay for coverage. This is why New Jersey drivers need to take the time to shop around when trying to get the cheapest car insurance quotes for Lyft drivers. Prices are influenced by many different factors and change substantially, so the best price six months ago may now be wasting a lot of money.
Find Cheaper Car Insurance for Your Lyft Vehicle
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | 21st Century | $1,067 |
| 2 | Travelers | $1,180 |
| 3 | New Jersey Manufacturers | $1,310 |
| 4 | Penn National | $1,379 |
| 5 | Palisades | $1,382 |
| 6 | The Hartford | $1,476 |
| 7 | Allstate | $1,478 |
| 8 | California Casualty | $1,481 |
| 9 | USAA | $1,553 |
| 10 | Mercury | $1,587 |
| 11 | Amica | $1,813 |
| 12 | Esurance | $1,894 |
| 13 | Progressive | $1,919 |
| 14 | MetLife | $1,932 |
| 15 | State Farm | $2,182 |
| 16 | GEICO | $2,262 |
| 17 | Encompass | $2,327 |
| 18 | Liberty Mutual | $2,978 |
| 19 | Hanover | $3,987 |
| Quote Your Rates Go | ||
21st Century has some of the most affordable car insurance rates in Jersey City at around $1,067 each year. Travelers, New Jersey Manufacturers, Penn National, and Palisades also rank well as some of the cheapest Jersey City, NJ auto insurance companies.
In this example, if you currently buy coverage from Palisades and switched to Travelers, you might achieve savings of approximately $202. Customers with The Hartford may save as much as $296 a year, and Allstate policyholders might lower prices by up to $298 a year.
Be aware that those policy prices are averages across all types of insureds and vehicles and and are not figured with an exact location for Lyft drivers. So the car insurance company that is best for you may not even be in the top 19 companies shown above. That affirms the importance of why you need to get quotes using your own specific driver and vehicle information.
For Lyft vehicles, one of the largest criteria that aid in calculating the amount you pay for auto insurance is where you choose to live in Jersey City. Cities with larger populations are more likely to pay higher prices, whereas more rural areas have the enjoyment of a little cheaper coverage.
The next table ranks the priciest cities in New Jersey for Lyft drivers to buy car insurance in. Jersey City makes the list at #7 with a yearly cost of $2,345 for the average insured, which is about $195 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Newark | $2,572 |
| 2 | East Orange | $2,521 |
| 3 | West New York | $2,506 |
| 4 | Paterson | $2,472 |
| 5 | Elizabeth | $2,470 |
| 6 | Union City | $2,450 |
| 7 | Jersey City | $2,345 |
| 8 | Passaic | $2,325 |
| 9 | Hoboken | $2,307 |
| 10 | Kearny | $2,289 |
| 11 | Clifton | $2,276 |
| 12 | Bayonne | $2,207 |
| 13 | Linden | $2,185 |
| 14 | Camden | $2,155 |
| 15 | Perth Amboy | $2,144 |
| 16 | Atlantic City | $2,086 |
| 17 | Fort Lee | $2,081 |
| 18 | Hackensack | $1,980 |
| 19 | Sayreville | $1,939 |
| 20 | Plainfield | $1,898 |
| Start a Quote Go | ||
Premium amounts are approximated as the specific Jersey City residence address can influence price quotes noticeably.
The car, truck, or SUV requiring insurance is one of the primary factors when shopping around for the cheapest insurance for Lyft drivers. Vehicles with lots of speed or power, a lack of safety features, or high incidents of liability claims will cost significantly more to insure than more economical and safe models.
The next list estimates car insurance costs for a selection of the most economical vehicles to insure.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $1,381 |
| Hyundai Elantra SE Touring Station Wagon | $1,496 |
| Toyota Prius | $1,528 |
| Ford Edge SE AWD | $1,602 |
| Chevrolet Malibu Hybrid | $1,632 |
| Chevrolet Equinox LS 2WD | $1,642 |
| Ford Explorer Eddie Bauer 4WD | $1,664 |
| Toyota Tacoma X-Runner 2WD | $1,717 |
| Honda CR-V EX-L 2WD | $1,733 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,749 |
| Chevrolet Silverado 2500HD LTZ Crew Cab 4WD | $1,754 |
| Chevrolet Silverado 3500HD LT Crew Cab 2WD | $1,781 |
| Honda Civic EX-L 4-Dr Sedan | $1,802 |
| Chevrolet Impala LS | $1,837 |
| Chevrolet Silverado LT Extended Cab 4WD | $1,871 |
| Dodge Ram Crew Cab SLT 4WD | $1,898 |
| GMC Sierra 3500HD SLT Crew Cab 2WD | $1,905 |
| Ford Focus SEL 4-Dr Sedan | $1,935 |
| Toyota Camry SE | $1,970 |
| Toyota RAV4 Sport 4WD | $2,002 |
| Jeep Grand Cherokee Laredo 2WD | $2,007 |
| Volkswagen Jetta SE 4-Dr Sedan | $2,005 |
| GMC Sierra SLE Crew Cab 2WD | $2,013 |
| Compare Cheap Rates Go | |
Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Estimates do not factor in garaging location in Jersey City, NJ which can raise or lower premiums considerably.
Based upon these rates, vehicles like the Ford Escape, Hyundai Elantra, Toyota Prius, Ford Edge, and Chevrolet Malibu should be a few of the most economical vehicles to insure for Lyft vehicles.
Get discounts on Jersey City insurance
Insurance companies that offer quotes for Lyft drivers may also provide special discounts that can reduce rates by as much as 25% or more if you are eligible for them. Companies and some of their more popular discounts are outlined below.
- State Farm offers discounts including multiple autos, driver’s education, student away at school, accident-free, anti-theft, defensive driving training, and Drive Safe & Save.
- GEICO includes discounts for seat belt use, multi-vehicle, driver training, military active duty, emergency military deployment, and federal employee.
- Allstate may have discounts that include defensive driver, premier discount, anti-lock brakes, teenSMART discount, good student, safe driver, and EZ pay plan discount.
- SAFECO has savings for accident prevention training, drive less, safe driver, anti-lock brakes, bundle discounts, and teen safety rewards.
- Farm Bureau policyholders can earn discounts including multi-vehicle, good student, driver training, safe driver, and multi-policy.
- Progressive offers discounts for homeowner, online signing, online quote discount, continuous coverage, multi-policy, and good student.
- AAA may include discounts for multi-policy, multi-car, pay-in-full, AAA membership discount, good student, and anti-theft.
The diagram below illustrates the difference between annual premium costs with and without some available policy discounts. The premiums assume a female driver, no accidents, no driving violations, New Jersey state minimum liability limits, comp and collision included, and $1,000 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second shows the rates with claim-free, marriage, accident-free, safe-driver, multiple vehicle, and passive restraint discounts applied. When these discounts are applied, theaverage yearly reduction on car insurance for Lyft drivers is 28% or $536.
The example below illustrates how choosing a deductible can impact annual premium costs when searching for cheap insurance for Lyft drivers. The data assumes a single female driver, full coverage, and no other discounts are factored in.
As shown above, a 50-year-old driver could lower their policy premium by $516 a year by increasing from a $100 deductible to a $500 deductible, or save $774 by choosing a $1,000 deductible. Young drivers, like the 20-year-old example, could save up to $1,322 annually just by using higher deductibles. If you do decide to increase your deductibles, it’s a good idea to have emergency funds available to be able to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Irresponsible driving raises your rates
A great way to earn good car insurance premiums in Jersey City for Lyft vehicles is to be a cautious driver and avoid accidents and traffic citations. The diagram below demonstrates how traffic citations and at-fault accidents can drive up premium costs for different categories of driver ages. The rate quotes are based on a married male driver, comp and collision included, $250 deductibles, and no discounts are applied to the premium.
In the previous chart, the average cost of car insurance in Jersey City per year with no accidents and a clean driving record is $2,917. Factor in two speeding tickets and the average cost hikes up to $4,037, an increase of $1,119 each year. Then add in two accidents along with the two speeding tickets and the annual cost of car insurance for Lyft drivers goes up to an average of $8,136. That’s an increase of $5,219, or $435 per month, just for not keeping your driving record clean!