Rideshare insurance is rideshare car insurance that you should take out before you start working as a rideshare driver. It gives you the peace of mind of knowing that you are fully covered if you are involved in an accident while you are driving.
It does this by covering the gaps that are left by insurance that is provided by rideshare companies. For example, Uber insurance provides liability cover of $1 million but does not cover your own vehicle.
Uber insurance also only starts when the Uber app is switched on. To see why this is important, take a look at the following periods of the Uber hire process.
- Period 0 – The app is off. Insurance provided by Uber does not cover you at this point.
- Period 1 – You are online and available for hire. At this point, a low level of coverage is provided by Uber.
- Period 2 – You accept a job and a higher level of insurance is provided by Uber.
- Period 3 – The Uber insurance remains at a higher level while you have passengers in your vehicle.
Even when Uber insurance is at its highest, it still does not fully protect you. There is also a $1,000 deductible for comprehensive and collision insurance. You can see that you need to invest in affordable rideshare Insurance like we provide, in order to protect yourself financially.
Coverage Recommendations For Rideshare Drivers
In order to get the best rideshare insurance, you need to make sure that you get the coverage that you need. Here are the types of coverage that we recommend. We are happy to discuss them with you.
Liability insurance protects you against potential lawsuits. Although this type of cover is provided by Uber, it may not be sufficient in some circumstances. This is why buying rideshare insurance NYC is a good idea.
Comprehensive and collision coverage
Collision insurance provides you with cover for vehicle damage caused by crashes. Comprehensive insurance needs to be in place as well if you want to be covered for other issues such as theft and flood.
Collision with uninsured/underinsured motorist
If you are involved in an accident with an uninsured driver, this could be a problem. Making sure that you have the relevant insurance in place helps to give you increased peace of mind.
Medical costs can be hugely expensive. This makes it vital to have insurance that covers potential medical bills that you or other drivers may have as the result of an accident.
This part of insurance is intended to cover the gap that is left by shortfalls in Uber insurance such as any deductible which may apply.
How Does A Rideshare Insurance Policy Work?
In some cases, you can get an endorsement that you can add to your personal car insurance. This helps to fill gaps that are not covered by the insurance provided by Uber.
Alternatively, you can purchase full rideshare insurance in NY. This type of policy combines personal insurance with business coverage.
I already have personal and employer-provided policies, do I need extra insurance?
The answer to this question is definitely yes. If you are an Uber driver in NYC, you need to make sure that you have reliable rideshare insurance NY. Failing to have this insurance in place could be very costly. You may think that you will never need the cover but the truth if you spend long periods on the road, you are more likely to have an accident.
To make sure that you have peace of mind, talk to our expert team about your rideshare insurance needs.