Actually not all insurance companies offer rideshare insurance policies, and it is never stand-alone coverage, but an add-on to current coverage. It is best to compare prices between companies anyways but follow these 3 steps below for finding and buying the best coverage:
- Talk to your personal auto insurance provider of your rideshare driver status immediately to prevent being dropped.
- Discover the gaps in your rideshare company’s policy and your personal policy. Liability coverage will differ, with Uber and Lyft both giving up to $1 million in coverage compared to both smaller and newer companies.
- Check to know whether your current insurer can cover the gaps in the rideshare company’s coverage. They may be able to provide you a commercial policy if not the rideshare one.
When you file a Claim for an Accident:
Should you end up in an accident while on your way to pick up passengers or while driving passengers, you may be qualified for rideshare company claims. This implies you can make claims during period 2 and 3 situations. You can file a claim for the following 4 circumstances:
- Uber and Lyft cover medical expenses and damages in driver-caused accidents during the periods 2 and 3.
- Comprehensive and collision coverage can be in use from the rideshare company so long as you equally have such coverage on your personal auto policy.
- A period 1 accident implies you’ll have to file a claim with your personal policy provider except the rideshare company or state law has other specs. Most rideshare companies will assist with coverage if the claim gets denied or you do not get full reimbursement.