For Lyft vehicles, one of the more important criteria that aid in calculating car insurance rates is where you live in Long Beach. Cities with larger populations or higher claim trends are more likely to pay higher prices, whereas areas with less congestion receive better rates.
The table below ranks the priciest cities in California for Lyft drivers to purchase a policy in. Long Beach shows up at #9 with an annual premium of $1,578 for car insurance, which is around $132 each month.
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Table data uses approximated as specific Long Beach garaging address can affect premiums considerably.
The make and model of vehicle to be insured is one of the main factors when shopping for economical coverage for Lyft drivers. Vehicles with average performance, good safety features, or a low likelihood of liability claims will cost substantially less to insure than fast, unsafe models.
The data below illustrates car insurance premiums for a number of the most economical automobiles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$1,224|
|Honda CR-V EX 4WD||$1,252|
|Jeep Wrangler Sport 4WD 2-Dr||$1,264|
|Volkswagen Jetta 2.0T Station Wagon||$1,436|
|Ford F-150 Lariat Crew Cab 4WD||$1,476|
|Ford Focus SES 4-Dr Sedan||$1,499|
|Honda Odyssey EX-L W/Navigation||$1,526|
|Chevrolet Impala LTZ||$1,536|
|Jeep Grand Cherokee Limited 4WD||$1,554|
|Chevrolet Equinox LTZ AWD||$1,563|
|Ford Edge SEL 2WD||$1,554|
|Nissan Rogue S 2WD||$1,556|
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Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Rate information does not factor in specific garaging location which can decrease or increase premiums noticeably.
Looking at the rates, we can assume that models like the Ford Escape, Honda CR-V, and Jeep Wrangler will definitely be some of the less-costly vehicles to insure for Lyft vehicles.
Finding good, low-priced auto insurance is not the easiest thing to accomplish, and figuring out which company offers the best insurance rates for Lyft drivers will require even more perseverance.
Each auto insurer has their own process for determining rates in each state, so we’ll go over the most competitive insurance companies in California. It’s important to know that Long Beach, CA insurance rates are based on many factors that control the price of your policy. Improving your credit score, buying a higher-value vehicle, or getting a ticket for careless driving may cause policy rate changes resulting in some companies being cheaper than competitors.
Cheapest Insurance Rates for Your Lyft Vehicle
|Rank||Company||Cost Per Year|
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USAA offers some of the lowest car insurance rates in Long Beach at around $1,143 annually. Wawanesa, CSAA, Century National, and Nationwide also are some of the lowest-priced Long Beach, CA auto insurance companies.
As shown in the table above, if you are a customer of Century National and switched to Wawanesa, you could see annual savings of approximately $34. Policyholders with Nationwide could save as much as $71 a year, and 21st Century policyholders might realize rate reductions of up to $146 a year.
These premiums are averages across all types of insureds and vehicles and are not factoring in an exact location for Lyft drivers. So the insurer that is best for you may not even be in the top 24 companies in the list above. That points out the importance of why you need to compare rates from as many companies as possible using your own personal information and vehicle type.
Should you buy full coverage?
Finding cheaper insurance is the goal of the majority of vehicle owners, and one of the quickest ways to find cheaper insurance for Lyft drivers is to not buy full coverage. The diagram below shows the comparison of insurance premiums with full coverage compared to only the California minimum liability coverage. The price estimates are based on no accidents, no driving violations, $500 deductibles, single marital status, and no discounts are applied.
Averaged for all ages 20 through 70, comprehensive and collision coverage on your policy costs an additional $2,772 per year more than just buying liability insurance. That is a significant amount which raises the question if buying full coverage is a good investment. There is no set rule to drop physical damage insurance, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your vehicle’s settlement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $2,000 after the policy deductible has been paid. If it’s costing in excess of $200 a year for physical damage coverage, the it may be a good time to stop paying for full coverage.
How accidents and tickets impact rates in Long Beach
The easiest method to obtain the best insurance prices in Long Beach for Lyft vehicles is to be a safe driver and avoid tickets and accidents. The diagram below shows how speeding tickets and accidents increase yearly insurance costs for each age group. The information is based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.
In the chart above, the average cost of an auto insurance policy in California per year with no accidents and a clean driving record is $2,199. Get written up for two speeding tickets and the average cost rises to $2,951, an increase of $752 each year. Then throw in one accident along with the two speeding tickets and the yearly cost of insurance for Lyft drivers increases to an average of $3,702. That’s an increase of $1,503, or $125 per month, just for being a little careless behind the wheel!
Don’t make the mistake of not shopping around
California insurance rates are calculated based on many things which can substantially change the price you pay. Simply having a birthday, increasing deductibles, or getting a reckless driving citation may cause policy rate changes that may make certain companies cheaper than before.
In addition to those changes, auto insurance companies amend pricing as needed to ensure their profitability. An extended period of higher than normal claims can cause increased rates, while lower claim levels may result in cheaper Long Beach car insurance rates.
To help illustrate this point, the graph below shows rates for the cheapest car insurance in Long Beach, CA for a 45-year-old male driver with a clear driving record, no claims, and excellent credit. When quoting prices based on his personal profile, USAA offers the best car insurance rates in Long Beach at $1,397 a year. This is $254 less than the average premium paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide also make the list of the cheapest Long Beach, CA auto insurance companies.
Now we will pretend the driver from the first example a chargeable accident, slightly worse credit, and a few traffic violations. Since each company has a unique approach to set policy rates, comparing quotes may now show a completely different list of the cheapest Long Beach car insurance companies as shown below.
Grange now has the cheapest car insurance in Long Beach, CA with Mercury, Progressive, Allstate, and GEICO also being competitive. This example proves why it is critical to compare many different companies when trying to get cheap auto insurance rates for Lyft drivers. Prices are calculated by many different factors and can decrease or increase without notice, so the best price six months ago may now be quite expensive.