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Uber & Lyft Drivers: Skipping out on Rideshare Insurance? Think again

We’ve covered using ridesharing services like Uber and Lyft in a previous blog post, but what about driving for one of these companies? That’s a whole other conversation. In the past, drivers are often left with gaps in coverage when driving for ridesharing services. Coverage can change from your personal or business policy to the company’s coverage throughout the day when you pick-up and drop-off customers.

So where exactly is the lapse in coverage and how have insurance companies solved this problem? Progressive, Safeco and other big name insurance companies have now moved to provide “Rideshare Insurance.” Before we get into rideshare insurance and what it covers, the graphic below details the lapse in personal policy coverage and the rideshare company’s policy coverage.

Though it’s not available in all states, rideshare insurance coverage is now available in Florida! Aside from the obvious lapse in coverage, why should a driver purchase a policy? Your personal insurance policy isn't likely to cover an accident that happens during your ridesharing time. In fact, if you didn't disclose that you were using your car for business use, they could potentially deny your claim or cancel your policy even if your accident isn't related to Uber. 

Even if you have Uber or Lyft insurance, their coverage is minimal and won't cover you during that first period illustrated above. It will only kick in once you have accepted the ride and are carrying passengers. Although it isn't required (for now), it's a smart idea to make sure you are covered during all time of your Uber or Lyft driving duties.

As an independent insurance agent, I’m able to write for multiple insurance companies to find you the best coverage and price. If you’re looking for rideshare insurance or car insurance in Kissimmee, give us a call. We’re happy to be your go-to insurance agent in Orlando.

Posted 10:44 PM

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