Harry here. A lot of drivers sign up for Uber and Lyft without ever thinking about insurance. It isn’t until they get in an accident and it’s too late that they realize the coverage provided by these companies is often not enough. Today, RSG contributor Jon Knope takes a look at five reasons why drivers need rideshare insurance.
As rideshare drivers, we all spend a certain amount of time figuring out how to make the most money in our local area. But no matter where you drive, you could lose all your earnings (and then some!) in an instant if you don’t have proper rideshare insurance.
I get it: insurance isn’t a fun topic. Like many drivers, I wasn’t even aware I needed anything besides a regular personal auto insurance policy when I first started. Later on, I tried my best to ignore the insurance issue and kept right on driving with my personal policy.
But the more I kept at it, the more I realized that driving for Uber, Lyft, et al is just like running a small business – and when you’re running a business, you have to manage risk. When that business is on wheels, the risks that must be managed are very large indeed. Here are five ways rideshare insurance coverage can help keep your earnings in your pocket – no matter what happens on the road.