Car Insurance for Uber and Lyft Drivers
Texas Rideshare Drivers - Begin Your Free Insurance Quote
If you’re looking for a side hustle or a way to fill the time after retirement, you may have considered driving for Uber or Lyft. These companies offer an easy way to make money while using your personal vehicle with no strict schedule or dress code. But to drive for either of these services, you need auto insurance. Matthews Insurance Group can find you cheap car insurance for the coverage you need to drive for Lyft, Uber and other ride-sharing services.
Do I Need Special Insurance for Uber or Lyft?
Both ride-sharing services require their drivers to carry car insurance. Lyft offers liability insurance for each of their drivers, but other coverages will only apply if your policy already carries them. Uber also provides liability insurance, but only if the app is on. Once the app is turned off, your personal insurance policy must step in. You can also find policies geared for those who work for ride-sharing services.
Will My Insurance Company Know if I Drive for Uber or Lyft?
While your insurance company may not be notified immediately, if any accident occurs, the insurance agency will discover the truth. It’s worth it for both you and your passenger to be honest and notify your insurance company about any changes in your auto insurance needs.
Does Driving for Uber or Lyft Raise Your Insurance?
Since transporting other people for money presents a higher risk, the cost of your insurance premiums are likely to rise. Driving for money is considered commercial rather than personal, meaning you’ll be paying higher prices than your original personal auto insurance.
Some insurance agencies discourage ride-sharing and even drop clients who work for Uber or Lyft. Luckily, Matthews Insurance Group is here to make sure you’re covered no matter what.
Types of Rideshare Insurance Policies
Uber offers:
· $1 million in liability coverage per accident
· $1 million in uninsured/underinsured motorist
· $50,000 in bodily injury liability per person
· $100,000 in bodily injury per accident
· $25,000 in property damage
Lyft offers:
· $1 million in liability coverage per accident
· $50,000 in bodily injury liability per person
· $100,000 in bodily injury liability per accident
· $25,000 in property damage
These liability coverages depend on the stage of work you are at. Check with your ride-share service about their limits and offerings.
Do I Need Insurance Beyond What Uber or Lyft Offers?
Liability coverages only cover other people in an accident. You will also want comprehensive, collision and personal injury protection in case your vehicle is damaged, or you are injured during work. The unendorsed Texas Auto Policy provides no coverage for any claim that occurs while the app is on. Keep in mind that a lot of ride-share insurance policies are only active while you are working. Some ride-sharing services also only cover you once a ride is accepted, leaving a gap in coverage while you wait to accept a ride. Matthews Insurance Group does have availability to carriers that offer the endorsement that will cover you on the way to and between fares.
Insure with Matthews Insurance Group Today
Matthews Insurance Group understands that each client is unique, as are their car insurance needs. We will help find the cheapest car insurance rates for you and your vehicle. Call us today at 817-563-5555 , or fill out an online quote now. We serve each client with superior service in the hopes of building a strong bond of trust and reliability.
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