Uber & Lyft car and driver insurance can be a confusing topic, one that many drivers ignore. However, it’s important to pay attention to the insurance options out there. If you haven’t looked into Uber car insurance recently, you should, as many companies have expanded the Uber driver insurance (and Lyft!) options they have for drivers. RSG contributor Melissa Berry rounded up the current rideshare insurance options nationwide below.
Uber Insurance: Do You Need It?
Uber insurance can be confusing, complicated – and easy to ignore. After all, we as drivers are covered by Uber and Lyft, right? Yes – to a degree. But there are times when we are not covered or we’re not covered fully.
During period one (app on but no passenger in car), drivers are not covered at all by rideshare policies. And when you are en route (period 2) or on a trip (period 3), you’re covered by Uber and Lyft but there are deductibles to worry about. For Uber, your deductible is $1,000 and for Lyft the deductible is $2,500. This means you have to pay $1,000 – $2,500 before Uber or Lyft will cover you. Also, deductibles only apply to physical damage, not liability claims (h/t to reader Matt for this clarification).
So do you need car insurance for Lyft and Uber? In short, yes. If you want to be fully covered as a rideshare driver, you should get insurance. You can find a list of insurance providers in your state here, and we recommend you contact as many as are on the list so you can get the best coverage at the lowest price. It pays to shop around!
What else should you know about Uber insurance (and Lyft) providers? We’ll break down what you need to know about Uber car insurance, plus outline the different rideshare insurance options out there. You can decide which provider is best for you, then contact them for a quote.