Who Has Affordable Dallas Car Insurance for Lyft Drivers?

It would sure be easy if we could simply tell you the one auto insurance company that has the lowest rates in Texas. It’s just not that easy, however, as there are a whole bunch of unknown elements like tickets or driving violations, how well you maintain your credit, and what liability limits you need, that all impact the cost of your policy. This article goes into detail about the different ways you can keep rates low and will hopefully give the reader a good start to your coverage search.

One of the many things that are looked at to determine the annual cost of car insurance is your zip code in Dallas. Cities with more crime and/or more people will most likely pay more, whereas areas that tend to be more rural can boast about having cheaper rates.

The information below shows the most expensive areas in Texas for Lyft drivers in which to purchase auto insurance. Dallas makes the list at #3 with an annual rate of $1,893 for coverage, which is approximately $158 per month.

Car insurance prices in Dallas
Rank City Premium Per Year
1 McAllen $2,016
2 Brownsville $1,927
3 Dallas $1,893
4 Amarillo $1,858
5 Garland $1,850
6 Houston $1,835
7 Laredo $1,833
8 Mesquite $1,771
9 Pasadena $1,758
10 Grand Prairie $1,757
11 Beaumont $1,720
12 Irving $1,719
13 San Antonio $1,688
14 Lubbock $1,665
15 Fort Worth $1,653
16 Arlington $1,642
17 El Paso $1,632
18 McKinney $1,625
19 Austin $1,610
20 Carrollton $1,598
21 Corpus Christi $1,588
22 Plano $1,576
23 Waco $1,522
24 Abilene $1,515
25 Killeen $1,488
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Annual rates are approximated as the specific geographic location can raise or lower price quotes considerably.

Comparing quotes for low-cost auto insurance is not easy, and figuring out which company has the lowest-priced insurance rates for Lyft drivers will involve even more perseverance.

Each insurance company uses their own formula for establishing rates, so to begin we’ll rank the overall cheapest insurance companies in Dallas. It’s important to understand that Dallas insurance rates are impacted by many things which can substantially decrease or increase the price you have to pay. Simply having another birthday, filing a claim, or having an at-fault accident can trigger price changes that can make some companies affordable when they were higher priced.

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Cheapest auto insurance in Texas ranked by cost per year
Rank Company Cost Per Year
1 Travelers $1,010
2 USAA $1,084
3 Texas Farm Bureau $1,235
4 Germania Mutual $1,244
5 California Casualty $1,396
6 Esurance $1,421
7 State Farm $1,450
8 Mercury $1,521
9 Nationwide $1,553
10 Safe Auto $1,565
11 Progressive $1,698
12 Allstate $1,718
13 Amica $1,723
14 Home State $2,071
15 GEICO $2,156
16 MetLife $2,183
17 Unitrin $2,264
18 Encompass $2,301
19 21st Century $2,396
20 Titan $2,568
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Travelers offers some of the cheapest car insurance rates in Dallas at around $1,010 annually. This is $894 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty would also be considered some of the cheaper Dallas, TX car insurance companies.

In the rate table above, if you have coverage with Germania Mutual and switched to Travelers, you might achieve savings of about $234. Policyholders with California Casualty could save as much as $386 a year, and Esurance insureds might cut rates by $411 a year.

Remember that these policy rates are averaged for all drivers and vehicles in Texas and are not factoring in an exact vehicle garaging location for Lyft drivers. So the company that fits you best may not even be in the list above. That emphasizes why you need to get rate quotes using your own personalized driver profile and vehicle information.

The make and model of vehicle driven is probably the biggest factor that determines whether or not you can buy cheap coverage for Lyft drivers. Vehicles with higher performance, poor safety features, or an increased likelihood of liability claims will cost quite a bit more to insure than more modest models. The next table illustrates auto insurance rates for a number of the most budget-friendly automobiles to buy coverage for.

Cheapest Vehicles to Insure in Dallas, TX
Vehicle Make and Model Estimated Cost for Full Coverage
Hyundai Elantra GLS Touring Station Wagon $1,397
Honda Accord LX-P 4-Dr Sedan $1,403
Jeep Wrangler Sport 4WD 2-Dr $1,438
Honda CR-V EX 2WD $1,440
Ford Escape XLS 4WD $1,446
Honda Odyssey EX $1,478
Toyota Camry LE $1,506
Toyota RAV4 Sport 2WD $1,514
Volkswagen Jetta LE 4-Dr Sedan $1,506
Toyota Tacoma 4WD $1,560
Chevrolet Impala LTZ $1,588
Toyota Prius $1,595
Kia Optima LX $1,613
Hyundai Sonata GLS 4-Dr Sedan $1,620
Nissan Rogue SL 2WD $1,613
Jeep Grand Cherokee SRT-8 4WD $1,618
Ford Explorer XLT 2WD $1,621
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Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Estimates do not factor in zip code location which can impact premium rates considerably.

Based upon the table data, we can conclude that vehicles like the Hyundai Elantra, Honda Accord, Jeep Wrangler, and Honda CR-V are going to be a few of the most budget-friendly vehicles to insure for Lyft vehicles.

Liability-only versus full coverage

Reducing the cost of insurance is important to most drivers, and one of the best ways to save on the cost of insurance for Lyft drivers is to only pay for liability coverage. The information below illustrates the difference between insurance costs with full coverage compared to only the Texas minimum liability coverage. The premium estimates are based on no claims or violations, $100 deductibles, marital status is single, and no other discounts are factored in.

If averaged out across all ages, comprehensive and collision coverage on your policy costs an additional $2,974 per year over liability only. Many drivers will wonder if buying full coverage is worth the expense. There is no specific rule of when to eliminate comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is 10% or more of replacement cost minus your deductible, then it might be time to consider dropping full coverage.

Dallas insurance companies ranked

Ending up with a high-quality company can be rather challenging considering how many different companies there are to choose from in Texas. The ranking data listed below may help you choose which providers you want to consider when comparing rates. These ratings are for major nationwide insurance companies, so companies with more of a regional focus are not factored into the list.

Top 10 Major Auto Insurance Companies in Dallas Ranked by Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. The General
  9. 21st Century
  10. Esurance

Top 10 Major Auto Insurance Companies in Dallas Ranked by Claims Service

  1. Travelers
  2. Nationwide
  3. Allstate
  4. State Farm
  5. Liberty Mutual
  6. GEICO
  7. American Family
  8. Esurance
  9. Titan Insurance
  10. AAA Insurance

The chart below highlights how deductible choice can increase or decrease insurance costs when researching cheap insurance for Lyft drivers. The data assumes a married male driver, full coverage, and no additional discounts are factored in.

The data above shows that a 30-year-old driver could save $294 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $446 by selecting a $1,000 deductible. Youthful drivers, like the 20-year-old, could roll back prices up to $884 or even more by using higher deductibles when buying full coverage.

If you do decide to increase your deductibles, it will be necessary to have enough in a savings account to allow you to cover the extra out-of-pocket expense that deters many people from opting for higher deductibles.

Why you should be shopping around

Dallas, TX insurance rates are impacted by many things that can increase the price you pay for coverage. Turning one year older, moving across town, or having a fender bender can trigger rate changes that may make certain companies more affordable than competitors. In addition to those changes, car insurance companies change the rates they charge in Texas at least once a year in order to offset underwriting gains or losses. An unexpected high level of claims may result in a rate increase, while better underwriting may produce cheaper Dallas car insurance rates.

As an example, the chart below shows rates for the cheapest car insurance in Dallas, TX for a 45-year-old male driver with a good driving record, no prior claims, and solid credit. If we compare prices based on his personal profile, Travelers may have the most affordable car insurance rates in Dallas at $1,298 per year. This is $606 less than the average policy premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are the remainder of the best Dallas, TX auto insurance companies.

Now let’s give the driver from the first example a couple of claims, less-than-perfect credit, and a speeding citation. Because every insurance company has a proprietary method for establishing rates, analyzing rate quotes will most likely result in a significantly different list of the cheapest car insurance companies in Dallas as shown below.

State Farm now has the lowest price in Dallas with Mercury, USAA, Safe Auto, and Nationwide also having competitive pricing. This illustrates why consumers need to take the time to compare many different companies when trying to get the most economical car insurance quotes for Lyft drivers.

Auto insurance prices are determined by many different factors and can change substantially, so the most affordable company the last time you shopped around may now not even be in the top five.