What Uber & Lyft offer
The good news is Uber and Lyft do offer some insurance options for their drivers. Some of it is standard, but some does cost extra. Here is a link explaining what Uber offers: https://www.uber.com/newsroom/insurance-ridesharing-uber/
Here is a link explaining what Lyft offers: https://help.lyft.com/hc/en-us/articles/115013080548-Insurance-Policy
In most cases, Uber/Lyft will provide coverage the moment a person enters your car.
Bad news – there is a gap
Your Personal Insurance policy covers you until you turn on the app, and Uber/Lyft typically has something in place to cover you and your vehicle when a passenger enters your car. But what about the time between the app being turned on to the passenger entering your vehicle? In most cases, there is no coverage for that gap.
Good news – there is a solution
Several insurance carriers now offer a “Ride Sharing Endorsement” that can be added to your Personal Insurance. This endorsement will cover you and your vehicle during this gap. That said, because of the extra coverage being provided, there is an additional cost associated. However, ensuring that you are properly covered is well worth it.
Are you interested in getting your side hustle on with Uber or Lyft? Schedule time with us below! We would be honored walk you through the insurance process to ensure you and your vehicle are properly covered.