What Is Ridesharing Insurance?

Rideshare insurance offers car coverage for liability and property damages to drivers that work for uber, lyft or any other ridesharing companies. Such type of an auto insurance policy bridges gaps between driver’s personal car insurance cover and that provided by company especially when he might be waiting for ride requests.

Personal auto insurance covers aren’t at work when drivers drive cars for hire. Insurance coverage for cars on hire is usually applicable only when there are passengers in the vehicle or driver is driving to pick up passengers. Ridesharing insurance bridges this in-between gap to ensure guaranteed financial protection to drivers during waiting periods.

Explore The 4 Different Types Of Rideshare Car Insurance Available In Market

  • Hybrid insurance cover - It serves as a hybrid coverage between personal auto insurance policy and rideshare specific insurance policy.
  • Commercial coverage - It is specially designed cover for drivers of huge vehicles or full-time drivers that come standard with a high deductible with majority of the ridesharing car apps.
  • Phase1 insurance cover - This type of coverage fills in the gap between driver’s personal auto insurance policy and app enabled company provided insurance cover.
  • Rideshare friendly covers - Normal personal car insurance policies do not cover rideshare drivers during phase 1, 2 or 3 of in-between waiting periods. These gaps can be effectively filled up with rideshare friendly coverage.

Compare The Best Rideshare Insurance Canada Quotes With Local Assistance

By consulting a competent independent agent, you could be easier for you to narrow down your search of high quality insurers. With a specialist’s advice and guidance, you may even know if you need to purchase any add-on features to the rideshare vehicle insurance policy quote that you have chosen

We can help to get connected to independent agents in your neighbourhood within minutes. Take advantage of our cost-free expert services to assess your chances of getting a discounted rideshare auto insurance package that best fits your specific driving needs and budget. To get started with your task, act now!

Know About The Kind Of uber rideshare insurance Provided by Company

As a rideshare driver in waiting period, when you put on the rideshare app, the coverage will begin. The policy only covers you from third party liability and offers comprehensive/collision coverage features for the car driven in the event you need to file claim that your personal auto insurance policy doesn’t cover.

Nevertheless, there could be certain limitations which apply, you must have personal car insurance before rideshare cover kicks in. So, having extra coverage on personal policy is desirable.

Why auto insurance for rideshare drivers is Must?

Companies like uber and lyft, which provide rideshare services, do not purchase sufficient coverage for drivers. However, if you have auto insurance policy for rideshare drivers over and above personal auto insurance cover, you can have real peace of mind even while you are in waiting periods as under:

  • Period 0 - Rideshare app is off but your personal car insurance protects you.
  • Period 0 - Rideshare app is off but your personal car insurance protects you.
  • Period 2 - Once new request is accepted and you are out to pick passenger(s), rideshare insurance comes into effect and gets activated.
  • Period 4 - After you have picked up passenger(s) from their the destination(s) employer’s rideshare insurance coverage is in full force.
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Does Uber Lyft Rideshare Insurance Affect Personal Auto Insurance Rates?

There is no effect on your personal car insurance rates even if you drive vehicle for a rideshare company. Hence, there is little need to worry as your personal auto insurance premiums won’t go up despite driving for ridesharing companies. In addition, you must also meet the below mentioned conditions:

  • Have valid driver’s license
  • Desirable driving experience
  • You can carry only specified number of persons in car
  • Car cannot be used for delivery of food items
  • Your vehicle must not be registered as a taxi

Things To Do If Your Meets With An Accident While Driving For Lyft OR Uber

Regardless of whether you are driving car for a rideshare service or for personal reasons, you must first contact the police if your vehicle meets with an accident. Next, check the contents of your personal, rideshare as well as ridesharing company’s coverage contents to find out if you are covered.

Your ability to claim damages will depend on the exact period - 0, 1,2 and 3 during which you met with the accident. Auto insurance for rideshare drivers will cover gaps created by your personal car cover and employer’s coverage. To learn more about the subject, talk to an expert today!




Driving For Lyft Or Uber? Fill The Gaps Created By Your Personal And Employer Auto Insurance
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