What Is Rideshare Insurance?
Rideshare insurance offers coverage options to those who drive their personal vehicle for a transportation network company (TNC) such as Uber or Lyft.
What It Covers
Rideshare insurance is put in place to provide coverage in the event of an accident while you are driving your car for business use. Typically there are three periods when you are driving for a rideshare company. Period 1 is when you’re waiting for a request, period 2 is when you’re on your way to pick up your passenger(s), and period 3 is when you have your passenger(s) and are en route to their destination. Coverage across all three periods is not guaranteed by many TNCs. If you find yourself looking for additional coverage, you need rideshare insurance.
Why Drivers Need Rideshare Insurance
If you’re a driver for a TNC, you likely already know that your personal auto insurance is unlikely to cover claims related to business use of your vehicle. In the unfortunate event that you have an accident while you’re on the clock driving, rideshare insurance is there to help fill in the gap between your personal insurance and any insurance your TNC may offer. Without this coverage, you could be held responsible for vehicle damages and medical expenses.