The car, truck, or SUV driven is a large factor when comparing quotes for affordable coverage for Uber drivers. Vehicles with lower acceleration and performance, good crash test ratings, or a track record of few liability claims will cost substantially less to insure than higher performance models. The next table illustrates coverage prices for the most economical vehicles to buy coverage for.
|Vehicle||Estimated Cost for Full Coverage|
|Chevrolet Malibu LS||$997|
|Ford Explorer Eddie Bauer AWD||$1,018|
|Honda CR-V LX 2WD||$1,032|
|Hyundai Elantra GLS Touring Station Wagon||$1,041|
|Ford Escape XLT 4WD||$1,057|
|Nissan Rogue S AWD||$1,066|
|Hyundai Sonata GLS 4-Dr Sedan||$1,075|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$1,068|
|Nissan Altima Hybrid 4-Dr Sedan||$1,074|
|GMC Sierra SL Crew Cab 4WD||$1,068|
|Dodge Ram Quad Cab TRX4 Off Road 2WD||$1,086|
|Ford F-150 STX Super Cab 4WD||$1,101|
|Chevrolet Silverado 3500HD LTZ Crew Cab 2WD||$1,105|
|Honda Odyssey EX||$1,118|
|Chevrolet Silverado LTZ Extended Cab 2WD||$1,136|
|Toyota Camry Hybrid||$1,145|
|Toyota RAV4 Sport 2WD||$1,141|
|Dodge Grand Caravan CV||$1,155|
|Ford Focus S 4-Dr Sedan||$1,195|
|Chevrolet Impala LS||$1,205|
|Toyota Tacoma X-Runner 2WD||$1,201|
|Chevrolet Equinox LT 2WD||$1,220|
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Price information does not factor in garaging location in Plano, TX which can change premiums considerably.
Based upon the table data, we can expect vehicles like the Toyota Prius, Chevrolet Malibu, Ford Explorer, and Honda CR-V are most likely to be the cheaper vehicles to insure for Uber vehicles.
Shopping around for cheap car insurance is not easy, and determining which insurers offer the most affordable auto insurance rates for Uber drivers calls for a bit more work. Every auto insurer has a proprietary method for setting prices, so we’ll go over the auto insurance companies with the overall cheapest rates in Plano.
Best Auto Insurance Prices for Your Uber Vehicle
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,235|
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Travelers may offer some of the lowest car insurance rates in Plano at around $1,021 per year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance would also make the list of some of the cheapest Plano, TX insurance companies.
In the above example, if you are a policyholder with USAA and switched to Travelers, you may see a yearly price reduction of roughly $63. Drivers with Texas Farm Bureau may save as much as $214 a year, and Germania Mutual customers might see rate reductions of $223 a year.
These policy rates are averaged for all drivers and vehicles and are not factoring in a specific location for Uber drivers. So the company that has the lowest price for you may not even be in the list above. That points out the importance of why you need to compare rates from multiple companies using your own specific driver and vehicle information.
For Uber vehicles, one of the more important components that aid in calculating car insurance rates is your address. Areas with more people or higher crime rates are more likely to have higher rates, whereas less populated areas tend to receive slightly lower rates.
The next table lists the highest-priced places in Texas for Uber drivers in which to purchase auto insurance. Plano is listed at #22 with an annual premium of $1,576 for the average insured, which is about $131 monthly.
|Rank||City||Average Per Year|
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Information shown are approximated as the garaging address in Plano can change rates greatly.
Liability rates compared to full coverage
Saving money when shopping for auto insurance should be important to the majority of vehicle owners, and one of the fastest ways to reduce the cost of insurance for Uber drivers is to not buy full coverage. The diagram below visualizes the comparison of premium costs with full physical damage coverage and with liability coverage only. The costs are based on a clean driving record, no claims, $250 deductibles, single status, and no discounts are factored in.
If averaged out across all ages, physical damage insurance costs $2,210 per year more than buying just liability insurance. Lot’s of drivers question if buying full coverage is a good investment. There is no specific rule to delete physical damage insurance, but there is a general guideline. If the annual cost of having full coverage is about 10% or more of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.
Discounts on Plano auto insurance
Car insurance companies that offer cheap quotes for Uber drivers may additionally offer premium discounts that can reduce rates by 40% or more if you meet specific eligibility requirements. A list of companies and a selection of discounts can be read below.
- GEICO has discounts for emergency military deployment, membership and employees, air bags, multi-policy, seat belt use, and multi-vehicle.
- Travelers includes discounts for payment discounts, IntelliDrive, student away at school, continuous insurance, multi-policy, good student, and early quote.
- Nationwide discounts include accident-free, easy pay, good student, anti-theft, defensive driving, and family plan.
- Farmers Insurance offers premium reductions for electronic funds transfer, mature driver, early shopping, bundle discounts, multi-car, pay in full, and good student.
- Esurance has savings for emergency road assistance, good driver, safety device, claim free, multi-policy, and anti-theft.
- State Farm offers discounts including driver’s education, safe vehicle, Steer Clear safe driver discount, anti-theft, good student, and accident-free.
- Progressive offers discounts for homeowner, online signing, multi-policy, multi-vehicle, and online quote discount.
- Mercury Insurance may offer discounts for multi-car, location of vehicle, anti-theft, low natural disaster claims, and age of vehicle.
The diagram below visualizes the comparison of insurance rates with and without some available policy discounts. The price estimates are based on a male driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, full physical damage coverage, and $100 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with safe-driver, marriage, multiple vehicle, passive restraint, homeowner, and multiple policy discounts applied. When discounts are applied, theaverage yearly reduction on auto insurance for Uber drivers is 28% or $827.
Impact of careless driving on auto insurance rates
The obvious way to enjoy the cheapest auto insurance rates for Uber vehicles is to drive safely and have a clean driving record. The information below illustrates how speeding tickets and at-fault claims raise insurance prices for different age groups of insureds. The rate quotes are based on a married male driver, comp and collision included, $500 deductibles, and no discounts are factored in.
The chart shows that the average cost of an auto insurance policy in Plano per year with no accidents and a clean driving record is $1,529. Add in two speeding tickets and the average cost surges to $2,105, an increase of $575 each year. Next add two accidents along with the two speeding tickets and the 12-month cost of auto insurance for Uber drivers goes up to an average of $4,351. That’s an increase of $2,822, or $235 per month, just for not paying attention while driving!
The Plano auto insurance agencies shown below can probably provide answers to your questions and help you determine which auto insurance policy fits you best, as lots of drivers aren’t clear which coverage they need and would like to have a consultation when comparing insurance rates for Uber drivers. It can be challenging to find the best policy yourself, and insurance agents licensed in the state of Texas can give comfort knowing your policy gives you adequate protection. To find an auto insurance agency closest to you, click the button at the bottom or click here to compare price quotes now.
Byron Wilkerson – State Farm Insurance Agent
9720 Coit Rd #140 – Plano, TX 75025 – (214) 618-5700
Drew Baccus – State Farm Insurance Agent
7965 Custer Rd #122 – Plano, TX 75025 – (972) 517-9175
Nationwide Insurance: Nicholas Arthur Purvis Agency
5600 Tennyson Pkwy #243 – Plano, TX 75024 – (972) 665-9975
Louie Devega – State Farm Insurance Agent
6205 Coit Rd #300 – Plano, TX 75024 – (214) 473-9000
2817 Regal Rd # 101 – Plano, TX 75075 – (972) 596-5866