Low-Cost Rideshare Insurance

If you are working as a rideshare driver, then you’ve probably heard about rideshare car insurance. At Freeway Insurance, we offer competitive rideshare car insurance to make sure you have an important safety net when you are out and about.

Your insurance for rideshare goes above and beyond your private car insurance and what your rideshare company offers – making sure that you are not left holding the bag for expensive repairs if something happens. Freeway’s rideshare car insurance is designed to give you peace of mind. You can get a fast and free quote for the best rideshare insurance online, by calling us or by stopping by one of our offices.

Insurance for rideshare is a bridge between your personal car insurance and the insurance provided by your rideshare company. Because your personal car insurance won’t cover you while you are ferrying people around for money and your rideshare company only provides minimal coverage at very specific times, it makes sense to have an overreaching policy that is in force for you at all times.

Insurance for Lyft and Uber drivers is complicated and only covers you during certain times. For example, you may not be covered by your personal insurance after you drop off a paying customer – and you aren’t covered by your rideshare company then either.

Rideshare auto insurance comes in at around $6 to $30 per month. So, it’s pretty cheap for the peace of mind of knowing that you are covered, no matter what. You can Google “rideshare insurance near me” to find a variety of options. It’s always best to shop around and compare rates.

Your current insurance company may offer a ridesharing endorsement to your current policy. Some companies offer an auto policy that combines your current coverage with a full ridesharing package. Our Freeway Insurance agents can help you understand what option will work best for you.

Typically, insurance for Uber drivers and insurance for Lyft drivers only covers you if you are “on the clock.” Coverage amounts vary from when you are simply “on” and waiting for a ride request to when you are actively driving a passenger to a destination.

So, for example, you’ve told the app that you are ready and available to pick up a customer. If you are driving around at this time, your personal insurance is no longer in effect. And your rideshare car insurance is at minimum levels. If you get into a bad wreck during this time period, you may be left with repair bills and even injuries that are not covered under your rideshare company insurance.

Another “grey” period happens after you drop a customer off. As far as your personal insurance is concerned, you are where you are because of a paying customer situation. As far as your rideshare company is concerned, you are at the minimum level of coverage – if you are covered at all.

Well, that depends on what you mean by “robust.” Both Lyft and Uber  have $1,000,000 for third party liability, meaning if you cause an accident and you are in one of the rideshare company’s covered periods, you may be eligible for up to $1,000,000 to pay claims against you. It sounds like a lot – and it is, but if someone is killed in an accident you cause while you are ferrying a passenger, you may be on the hook for more than that.

And the thing is, when you are a rideshare driver you are on the road a lot more than the normal person. You are giving yourself more chances to get into a wreck.

Remember, you won’t qualify for the major parts of your rideshare company’s coverage unless you already have it on your personal car insurance, as well. So, their comprehensive car insurance and collision auto insurance are both contingent on you carrying those coverages on your personal auto policy. In other words, you’ll be forced to carry full coverage car insurance on your personal policy. And both Lyft and Uber charge a hefty deductible for comprehensive and collision – $2,500.

If your rideshare auto insurance is an enhancement to your normal liability, comprehensive and collision coverage, the amounts are up to you. If your rideshare policy is a fully vested separate policy, you’ll work with your agent to set the limits you feel comfortable with and that will meet your budget.