The vehicle model driven is one of the primary factors when quoting the most economical car insurance for Uber drivers. Vehicles with higher performance, a lack of advanced safety features, or a track record of large liability claims will cost more to insure than more economical and safe models.
The list below outlines auto insurance prices for a selection of the most cost-effective automobiles to buy insurance for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$3,572|
|Ford Escape Limited 4WD||$3,876|
|Honda Accord LX 4-Dr Sedan||$3,992|
|Ford F-150 XLT Super Cab 4WD||$4,089|
|Honda Odyssey EX W/Rear Entertainment||$4,135|
|Toyota Camry LE||$4,222|
|Ford Focus SEL 4-Dr Sedan||$4,356|
|Honda Civic EX 4-Dr Sedan||$4,363|
|Toyota Tacoma 4WD||$4,365|
|Ford Explorer Eddie Bauer 2WD||$4,467|
|Ford Edge Limited 2WD||$4,508|
|Chevrolet Equinox LTZ AWD||$4,527|
|Chevrolet Silverado LS Crew Cab 4WD||$4,532|
|Dodge Ram Quad Cab TRX4 Off Road 2WD||$4,605|
|GMC Sierra 3500HD SLT Extended Cab 2WD||$4,615|
|Chevrolet Silverado 3500HD LTZ Crew Cab 2WD||$4,698|
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Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Michigan minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Table data does not factor in zip code location which can alter premiums considerably.
Based upon these rates, you can figure that cars like the Honda CR-V, Ford Escape, Honda Accord, and Ford F-150 will be the cheaper vehicles to insure for Uber vehicles.
For Uber vehicles, one of the more important criteria that are used to help calculate car insurance rates is where you choose to live in Detroit. Areas with high crime rates or more dense population tend to have more expensive car insurance rates, whereas areas with lower vehicle theft rates and fewer weather claims have the luxury of lower rates.
The following table shows the highest-priced places in Michigan for Uber drivers to purchase auto insurance in. Detroit ranks #1 with an annual rate of $4,862 for coverage, which is around $405 monthly.
|Rank||City||Average Per Year|
|12||St. Clair Shores||$2,709|
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Premium costs are comparative as specific Detroit zip code can lower or raise auto insurance rates significantly.
Should you buy full coverage?
Reducing premiums for car insurance should be important to most drivers, and one common way to find cheap insurance for Uber drivers is to not buy full coverage. The illustration below visualizes the comparison of insurance costs when comparing full coverage to liability only. The premium estimates are based on no claims or driving citations, $500 deductibles, drivers are not married, and no discounts are taken into consideration.
As an overall average, physical damage coverage on your policy costs an additional $4,318 per year more than just buying liability insurance. Many drivers will wonder when is the right time to remove full coverage. There isn’t a written rule for dropping physical damage coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is 10% or more of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.
For example, let’s assume your vehicle’s claim settlement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, you would only receive $6,000 after paying your deductible. If you are currently paying more than $600 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.
There are some situations where only buying liability is not financially feasible. If you still owe money on your vehicle, you are required to maintain full coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.
Insuring your vehicle with the right car insurance company is hard considering how many choices drivers have in Detroit. The company ratings in the next section may help you decide which coverage providers you want to consider when trying find the best insurance for Uber drivers. These ratings only include companies with a national presence, so companies that have a smaller presence are not taken into consideration for these rankings.
Top 10 Large Car Insurance Companies in Detroit Ranked by Customer Service
- The Hartford
- American Family
- State Farm
- Farmers Insurance
- Safeco Insurance
- Liberty Mutual
Top 10 Large Car Insurance Companies Overall in Detroit
- The Hartford
- State Farm
- Farmers Insurance
- Safeco Insurance
- 21st Century
- Liberty Mutual
- AAA Insurance
Get discount Detroit insurance
Car insurance companies that provide coverage for Uber drivers may also offer policy discounts that could lower prices by 35% or more if you are eligible to receive them. A list of car insurance companies and some of the discounts are:
- American Family offers discounts including Steer into Savings, bundled insurance, mySafetyValet, defensive driver, early bird, multi-vehicle, and TimeAway discount.
- Nationwide may offer discounts for defensive driving, multi-policy, easy pay, anti-theft, and business or organization.
- MetLife has discounts for claim-free, defensive driver, good driver, accident-free, good student, multi-policy
- 21st Century offers premium reductions for driver training, early bird, homeowners, theft prevention, anti-lock brakes, and defensive driver.
- Farmers Insurance includes discounts for good student, youthful driver, pay in full, early shopping, mature driver, and electronic funds transfer.
- Allstate discounts include multi-policy, eSmart discount, 55 and retired, premier plus, early signing, safe driver, and EZ pay plan discount.
The diagram below illustrates the difference between car insurance costs with and without discounts being applied to the rates. The data assumes a female driver, no accidents, no driving violations, Michigan state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with homeowner, passive restraint, vehicle safety, claim-free, multiple vehicle, and safe-driver discounts applied. When discounts are applied, the average amount saved each year on car insurance for Uber drivers is 28% or $1,280.
Tips for buying cheaper car insurance for Uber drivers
Here are a few thrifty ideas that can help Michigan drivers quote more affordable car insurance.
- Higher physical damage deductibles lower rates
- Earn discounts for being claim-free
- Do not get tickets or violations
- Avoid preventable accidents
- Do not insure for full coverage
- Compare prices as often as possible
The last idea is highly critical, as was emphasized in the prior article. Prices can change in a short period of time, so drivers shouldn’t hesitate to buy a different policy if a more affordable rate is found.
Sticking with a specific company is fine, but is isn’t recommended if that devotion results in you overpaying hundreds of dollars year after year. It only takes a couple minutes to compare rates and find cheaper insurance for Uber drivers in Detroit.
If you wish to have some advice when trying to find lower insurance rates for Uber vehicles, the agencies below can help you determine which car insurance company is the best fit.
To locate a Detroit auto insurance agent nearest to you, click the button after the list.
- Jim Saucedo – State Farm Insurance Agent
5602 Vernor Hwy – Detroit, MI 48209 – (313) 841-8100
- Michigan SR22 Insurance – Select Insurance Group
Atwater St – Detroit, MI 48226 – (877) 949-7873
- Kenya Wells – State Farm Insurance Agent
20021 Kelly Rd – Detroit, MI 48225 – (313) 822-5948
- Clark Insurance Agency
2711 E Jefferson Ave #206 – Detroit, MI 48207 – (313) 259-6600
- Michigan Basic Property Insurance
3245 E Jefferson Ave – Detroit, MI 48207 – (313) 877-7400