LOS ANGELES, April 5, 2016 /PRNewswire/ -- Transportation Network Company (TNC) drivers – those who drive for Uber, Lyft and Sidecar – get to be their own bosses. They determine the length of their shifts, the hours during which they want to work and the communities they want to serve.
Mercury Insurance (NYSE: MCY), a provider of ride-hailing insurance for Uber, Lyft and other TNC drivers, has put together a list of the 10 most affordable cars to insure for entrepreneurs considering this line of work – the allure of being one's own boss has its perks, but not all cars and SUVs are created equal in the realm of insurance.
Mercury's research and development team recently examined the top 100 make/model combinations for the 2005 – 2015 model years for four door vehicles to compile a list of the least expensive cars to insure for an Uber, Lyft or another TNC driver. The list was created based on the Mercury price for full coverage – liability, comprehensive, collision and ride-hailing – in California.
Honda vehicles occupy the top two spots. Here is the complete top-10 list for Uber and Lyft drivers, beginning with the cheapest vehicle.
- Honda CR-V – crossover SUV
- Honda Pilot – crossover SUV
- Ford Edge – crossover SUV
- Toyota Sienna – minivan
- Toyota Highlander – crossover SUV
- Ford Focus LX – compact car
- Toyota RAV4 – crossover SUV
- Nissan Rogue – crossover SUV
- Honda Odyssey – minivan
- Honda Accord – compact car
"Mercury put together a list of the most affordable vehicles to insure as an Uber or Lyft driver and this hopefully helps them know what vehicle keeps costs down and profits high," said Jim Reeves, Group Manager, R&D for Mercury Insurance. "Mercury looked at all of the different vehicles and calculated the cost to cover them with our new ride-hailing insurance. The vehicles on our list, led by the Honda CR-V, are more than 10 percent cheaper to insure than the average of all cars and trucks insured by Mercury."
Mercury boasts more than 1,200 independent agents in California and is the state's leading writer of automobile insurance in the independent agency channel.
*Other factors, such as a driver's experience and accident history, can push the rate up or down, but were not included in the rate calculations.
ABOUT MERCURY INSURANCE
Mercury Insurance (MCY) is a multiple-line insurance organization predominantly offering personal automobile, homeowners and commercial insurance through a network of independent agents in Arizona, California, Florida, Georgia, Illinois, Michigan, Nevada, New Jersey, New York, Oklahoma, Pennsylvania, Texas and Virginia. Since 1962, Mercury has specialized in offering quality insurance at affordable prices. For more information visit www.mercuryinsurance.com or Facebook and follow the company on Twitter.
SOURCE Mercury Insurance