The words “low-cost” and “insurance” probably shouldn’t be used in the same sentence, especially when you are looking for the lowest insurance prices for Uber drivers. Because it’s so expensive, let’s open your eyes to some of the things that significantly impact insurance rates, and find a few ways to lower the price of the next policy you buy.
The make and model of vehicle on the policy is a large factor when comparing affordable coverage for Uber drivers. Vehicles with higher performance characteristics, a lack of advanced safety features, or high incidents of liability claims will cost much more to insure than more modest models.
The table below estimates auto insurance costs for some of the most cost-effective vehicles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$986|
|Ford F-150 XLT Regular Cab 2WD||$1,086|
|Honda Accord LX 4-Dr Sedan||$1,129|
|Honda CR-V EX-L 4WD||$1,154|
|Volkswagen Jetta S 4-Dr Sedan||$1,169|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$1,192|
|Hyundai Elantra Blue 4-Dr Sedan||$1,208|
|Toyota Camry XLE||$1,230|
|Toyota Tacoma X-Runner 2WD||$1,235|
|Jeep Grand Cherokee SRT-8 4WD||$1,260|
|GMC Sierra 3500HD SLT Extended Cab 2WD||$1,275|
|Ford Focus SE 2-Dr Coupe||$1,314|
|Hyundai Sonata SE 4-Dr Sedan||$1,321|
|Honda Odyssey LX||$1,330|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$1,339|
|Toyota Camry Hybrid||$1,336|
|Toyota RAV4 4WD||$1,341|
|Dodge Ram 2500 Crew Cab ST 4WD||$1,359|
|Chevrolet Silverado 3500HD LTZ Crew Cab Diesel 2WD||$1,369|
|Dodge Grand Caravan CV||$1,359|
|Ford Explorer Eddie Bauer AWD||$1,368|
|Honda Civic EX 4-Dr Sedan||$1,386|
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Data rating is based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Premium costs do not factor in specific location information which can impact coverage rates significantly.
Based upon the table data, we can tell that cars like the Ford Escape, Ford F-150, Honda Accord, Honda CR-V, and Volkswagen Jetta are likely to be the most economical vehicles to insure for Uber vehicles.
For Uber vehicles, one of the largest things that are looked at to determine the annual cost of car insurance is where you keep your vehicle in Greensboro. Cities with larger populations tend to have more expensive car insurance rates, whereas less populated areas receive better rates.
The illustration below sorts the priciest cities in North Carolina for Uber drivers in which to purchase auto insurance. Greensboro is listed at #7 with the yearly price of $786 for the average insured, which is approximately $66 per month.
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Information shown are approximated as the specific garaging location can modify prices noticeably.
Deciphering which company offers the lowest-priced auto insurance rates for Uber drivers calls for a little more work than just comparing a company or two. Every insurance provider has their own formula for setting prices, so to begin we’ll rank the lowest cost auto insurance companies in Greensboro, NC.
It’s important that readers know that North Carolina auto insurance rates are calculated based on many things that control the price of coverage. Simply having another birthday, buying higher coverage limits, or getting into an accident can trigger price changes that may make certain companies cheaper in comparison to the competition.
Find the Cheapest Auto Insurance for Your Uber Vehicle
|Rank||Company||Cost Per Year|
|5||NC Farm Bureau||$737|
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Progressive quotes some of the lowest car insurance rates in Greensboro at around $651 each year. Utica National, Liberty Mutual, GEICO, and NC Farm Bureau also rank well as some of the best Greensboro, NC car insurance companies.
As the rates illustrate above, if you currently buy coverage from GEICO and switched to Utica National, you might realize annual savings of in the neighborhood of $66. Drivers with NC Farm Bureau could save as much as $75 a year, and Titan customers might see rate reductions of $75 a year.
If you want to find out if you’re overpaying, click here to begin a quote or visit any of the low-priced companies below.
Understand that those premium estimates are averaged across all types of drivers and the different vehicles they drive and do not factor in a specific zip code for Uber drivers. So the auto insurance company that can offer the best rates for your situation may not even be in the top 20 companies in the list above. That’s why you need to get rate quotes using your own driver information and specific vehicle type.
The illustration below demonstrates how choosing different deductibles can raise or lower insurance rates when getting quotes for cheap insurance for Uber drivers. The information is based on a married male driver, full coverage, and no policy discounts are applied.
A 40-year-old driver could lower their car insurance rates by $174 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $262 by choosing a $1,000 deductible. Even younger drivers, such as the 20-year-old chart data, could lower their rates up to $578 annually by using higher deductibles when buying full coverage. If you make the decision to raise deductibles, it will be important to have enough savings set aside to offset the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Get discounts on Greensboro auto insurance rates
Insurance providers that provide policies for Uber drivers may also offer price discounts that could reduce prices by 30% or more if you qualify for them. A few popular companies and their offered discounts are detailed below.
- GEICO may offer discounts for multi-vehicle, military active duty, air bags, defensive driver, driver training, emergency military deployment, and multi-policy.
- Travelers discounts include good student, multi-policy, IntelliDrive, student away at school, and early quote.
- Nationwide includes discounts for family plan, Farm Bureau membership, business or organization, anti-theft, good student, easy pay, and multi-policy.
- Farmers Insurance has savings for multi-car, electronic funds transfer, mature driver, teen driver, switch companies, and good student.
- Esurance offers premium reductions for claim free, multi-car, good driver, Switch & Save, defensive driver, and online shopper.
- State Farm may include discounts for anti-theft, student away at school, multiple policy, multiple autos, Drive Safe & Save, and good student.
- Progressive policyholders can earn discounts including continuous coverage, multi-policy, homeowner, good student, multi-vehicle, online quote discount, and online signing.
- Mercury Insurance offers discounts for accident-free, ease of repair, age of vehicle, multi-policy, annual mileage, professional/association, and location of vehicle.
The illustration below illustrates the difference between insurance rates with and without discounts being applied to the rates. The premium estimates are based on a male driver, no claims, a clean driving record, North Carolina state minimum liability limits, full physical damage coverage, and $250 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with safe-driver, passive restraint, anti-theft, accident-free, defensive driving course, and marriage discounts applied. When these discounts are applied to the policy premium, theaverage amount saved on auto insurance for Uber drivers is 27% or $398.
Here’s why you should shop around
Greensboro, NC auto insurance rates are calculated based on many things which can significantly increase or decrease the policy price. Simply having another birthday, getting married, or getting caught speeding may prompt premium changes that can cause some rates to be much cheaper than others. Also, insurers change prices as needed as an adjustment for underwriting gains or losses. Heavier than normal losses can result in higher rates, while a better loss history may cause lower-priced Greensboro car insurance rates.
To illustrate this example, the chart below shows the cheapest car insurance in Greensboro, NC for a 40-year-old female driver with no violations or accidents, and a high credit rating. Based on her current risk profile, Utica National quotes the lowest car insurance rates in Greensboro at $718 a year. This is $154 less than the average policy premium paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and GEICO also make the list of the most affordable Greensboro, NC auto insurance companies.
In the next rate comparison, we’ll give the driver from the first example a claim surcharge, a little lower credit rating, and a traffic citation. Since each insurance company has their own unique process for filing rates in each state, getting updated rate quotes may now result in a different ranking of the cheapest Greensboro car insurance companies as shown below.
Penn National now has the cheapest insurance rate in Greensboro, NC with State Farm, Auto-Owners, Progressive, and Erie now being in the top five. This example proves why it is critical to compare rates to find the best car insurance quotes for Uber drivers. Insurance rates are made up of many factors and can decrease or increase without notice, so the most economical company the last time you checked may now not even be in the top five.