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Uber Insurance Cost – How to Avoid a High Deductible Plan

As we’ve covered many times on The Rideshare Guy, insurance (getting it, paying for it, using it, etc.) can be confusing. However, RSG contributor Melissa Berry is here to break down the important parts of what you need to know about the cost of uber insurance or rideshare insurance coverage, because what you don’t know can cost you.

Uber Insurance Cost

Did you know your deductible for Uber is $1,000 in periods 2 and 3 and Lyft’s deductible is $2,500? This is the price you would have to pay in the event of an accident in periods 2 and 3 to get your car fixed. Even if you’re not at fault, you would have to pay this money while your car is in the shop while your insurance company and the other person’s insurance company works to determine who is at fault.

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Even if you do get reimbursed, could you handle this expense? If not, could you handle being out of work for days or weeks? If you’re not sure how long it takes for Uber/Lyft to process insurance claims, check out reader Tom’s experience here – it took months!

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Uber insurance cost

Uber insurance cost

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Rideshare Insurance Choices for Uber & Lyft Drivers By State

Best Car Insurance Options for Uber Drivers and Lyft Drivers

If you’re looking for rideshare insurance, we’ve made it easy to learn about the options in your state on the page below. There are still a few states that don’t have rideshare friendly options, but we keep this page updated as new options are added every week, so be sure to check back frequently!

Rideshare Insurance Choices for Uber & Lyft Drivers By State. Find out what companies will insure rideshare drivers with our comprehensive database. If you're looking for rideshare insurance options, check it out. #Rideshare #Insurance #Uber #Lyt

If you’re just learning about rideshare insurance and not sure why you need it, it’s because as a rideshare driver, you need to be especially mindful about the risks and insurance limits in your state. There are many states where there isn’t an officially recognized rideshare insurance policy and, although you may still be covered by Uber/Lyft, your personal insurer may drop you for being a rideshare driver. You don’t want your income stream cut off before rent is due next month!

Related article: Essential gear every Uber and Lyft driver should have

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Need an Uber Accident Attorney?

Read out Uber Accident Lawyer page to learn how to handle rideshare insurance after an accident.

Why You Need Commercial Auto Insurance When Driving for Uber and Lyft

Uber and Lyft only cover rideshare drivers during Periods 2 and 3. Period 2 starts once you accept a ride request and are en route to your passenger, and Period 3 starts once your passenger gets into your car.  BUT when you’re online and waiting for a request during Period 1, you have no collision coverage from Uber or Lyft and much lower liability limits.  So as a rideshare driver, you’re most at risk during Period 1 since you won’t get any collision coverage from rideshare companies and your personal insurer likely won’t cover you during this time either.

Rideshare insurance solves this gap by covering drivers during Period 1, and additionally they won’t drop you for being a rideshare driver.  Some policies will even cover you during Periods 2 and 3 so you won’t be subject to Uber’s $1,000 collision deductible and Lyft’s $2,500 collision deductible.

I’ve covered this issue extensively, so if you want to brush up on the current state of insurance for rideshare, here are some rideshare insurance resources for you to review:

Is Rideshare Insurance Available in Your Area?

Over the past year, almost all of the major carriers have begun offering rideshare insurance policies for drivers.  This is great news since we no longer need to worry about being dropped by our insurance company, if we insure with a rideshare-friendly insurance company.

But changing insurance is obviously not a simple matter since many of us have policies across our homes, other cars, etc.  My hope is that one day all major carriers will offer rideshare-friendly policies but, until then, drivers will have to either switch insurers or assume the risk of going without a rideshare friendly policy.

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Uber and Lyft Driver Insurance Options

Uber and Lyft Driver Insurance Options

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How Does optOn Rideshare Insurance Work?

Join us for our October YouTube live on Tuesday October 9 at 5pm PT!  You can subscribe to our Youtube channel here and be sure to turn on notifications (instructions here) so you know when we go live.

Today we have a sponsored post from optOn, a new type of rideshare insurance that you only pay for when you’re using it. Currently, optOn is only available to drivers in Illinois, but keep an eye out as it rolls out nationwide. If optOn isn’t currently in your state, you can still find rideshare insurance options in your state here. As always, opinions are our own and reviews are done based on our experience as rideshare drivers.

OptOn is a new type of rideshare insurance that you only pay for when you are actually using it. It’s probably one of the most flexible rideshare insurance policies and it only requires a minimum of four hours of commitment. What’s not to love?

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Which Companies Offer the Best Uber Car Insurance Policies?

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.

Lyft & Uber Driver Insurance: Do You Need It?

Uber driver 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 car 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.

Looking for Uber driver insurance? This article will help you find it.

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How Does GEICO Rideshare Insurance Work?

Rideshare insurance can be a complex topic, but as more carriers launch policies, there are more options and resources available for drivers every day.  Today, RSG contributor Melissa Berry takes a look at GEICO’s rideshare insurance policy.  For a full listing of rideshare insurance options in your state, head over to our Insurance Marketplace.

GEICO is a major player in the rideshare insurance business, and they offer a unique type of coverage. Called “hybrid insurance”, GEICO offers insurance to part-time and full-time drivers with little restrictions, plus GEICO also covers food delivery (which is rare among auto insurers). This means if you drive for delivery and rideshare (which we recommend), your GEICO policy will have you fully covered.

GEICO offers rideshare insurance policies in a number of states, and in addition to offering rideshare insurance, GEICO also offers many other insurance policies, including homeowner’s and renter’s insurance.

If you already have a GEICO policy, you might find it’s easy and affordable to get a new rideshare policy. We’ll cover how GEICO’s rideshare policy works, how much it may cost you, and how it stacks up to other rideshare insurance providers.

Rideshare insurance can be a complex topic, but as more carriers launch policies, there are more options and resources available for drivers every day.  Today, RSG contributor Melissa Berry takes a look at GEICO’s rideshare insurance policy.  For a full listing of rideshare insurance options in your state, head over to our Insurance Marketplace.

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