Lyft says nearly 250K of its passengers ditched a personal car in 2017

Re:Lyft says nearly 250K of its passengers ditched a persona... by georgeecollins on Tuesday January 16, 2018 @06:27PM (#16163890)

The trick to reducing insurance on a beater car is to not insure the car for damage. Just get insurance for passengers, yourself, damage you do to other people, cars and property.

Never insure for a risk you can cover yourself. If you have a car that is worth < $10k, you probably should pay for damage to it out of pocket.

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Re:Lyft says nearly 250K of its passengers ditched a persona... by nly on Tuesday January 16, 2018 @07:20PM (#16164273)

In the UK this is known as 'third party' cover, and, when you hit the price comparison websites, it's not always the case that the cheapest third party option is cheaper than the cheapest comprehensive option.

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Re:Lyft says nearly 250K of its passengers ditched a persona... by semi-extrinsic on Tuesday January 16, 2018 @05:51PM (#16163539)

Depends on your car, they said it's a beater. Of course an insurance company will give you significant price reduction if you have, say, a late 90s Toyota Corolla or Honda Civic with a 80 hp engine, as compared to something more modern and fun with twice the power.

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Re:Lyft says nearly 250K of its passengers ditched a persona... by milesokeefe on Tuesday January 16, 2018 @05:58PM (#16163606)

I know that the sportiness and novelty of a car drives up the insurance price but it doesn't seem to as much as I thought, my friend recently got a new WRX and pays very very little in insurance for it considering he's a 22 year old male.

But yeah it being a beater makes sense, I just got quotes for a 1981 Honda Civic in Seattle and some are even less than $700/year.

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Re:Lyft says nearly 250K of its passengers ditched a persona... by gaius on Wednesday January 17, 2018 @02:09AM (#16166069)

pays very very little in insurance for it considering he's a 22 year old male

As an aside, in the UK it is illegal for an insurance company to consider gender when calculating the premium.

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Re:Lyft says nearly 250K of its passengers ditched a persona... by tbihl on Wednesday January 17, 2018 @09:17PM (#16174097)

Well that just seems cruel and arbitrary.

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Re:Lyft says nearly 250K of its passengers ditched a persona... by milesokeefe on Friday January 26, 2018 @03:13PM (#16242476)

Cruel to the insurance company?

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Re:Lyft says nearly 250K of its passengers ditched a persona... by jimmaswell on Tuesday January 16, 2018 @06:17PM (#16163797)

Seems like location is very important. I went down from ~$350 to ~$115 a month moving from NY to NJ. For reference: 22, male, just started driving in late 2017.

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Re:Lyft says nearly 250K of its passengers ditched a persona... by dzhiurgis on Tuesday January 16, 2018 @10:07PM (#16165141)

Something modern with collision detection/auto braking, ABS/ESP and multiple airbags and shock absorbers that WORK is also way safer than older clunk.

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Re:Lyft says nearly 250K of its passengers ditched a persona... by toomanybeersies on Tuesday January 16, 2018 @09:04PM (#16164869)

GP might be paying only third-party insurance. I'm not sure about America, but at least in Australia, AU$500 (US$400) per year will get you third-party insurance if you're under 25, and if you're driving a beater car you don't need any other insurance.

I looked at getting comprehensive insurance on my old car, but in the end the excess was greater than the value of the car. I wouldn't be surprised if it was the same for GP.

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Re:Lyft says nearly 250K of its passengers ditched a persona... by ape4 on Tuesday January 16, 2018 @06:08PM (#16163708)

You need liability insurance. I don't think $700 would cover it.

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