Most rideshare companies and delivery services offer some level of car insurance for their drivers. But this coverage is limited and may vary depending on whether or not you have a rider in the car. Rideshare insurance is an add-on available from most major insurance providers that bridges the gap between what your company provides and the protection you need. If your company doesn't let you buy rideshare insurance, look into commercial car insurance.
- Rideshare insurance is an add-on for drivers that work for rideshare companies or delivery services
- While these companies may offer insurance for their drivers, that coverage varies depending on where you are in the ride
- Your personal insurance policy likely does not cover any accidents that occur while driving for a rideshare
Rideshare companies like Uber and Lyft have become a popular way to make some extra cash. Most top auto insurance companies offer rideshare insurance to ensure you’re protected while you drive.
Read on to learn more about rideshare insurance, or enter your ZIP code to start comparing affordable rideshare car insurance rates now.
What is rideshare insurance?
Rideshare insurance is an add-on you can get on top of your normal car insurance policy.
Most rideshare companies and delivery services offer their drivers a certain level of coverage, but it varies depending on where you are in the ride.
For example, if you are in between rides, you may not have any company coverage at all.
Rideshare insurance bridges the gap between what your company offers and the amount you need to be protected while you drive.
Do you need rideshare insurance?
You most likely already have auto insurance coverage, so getting additional coverage may seem redundant.
But according to the Insurance Information Institute, most private insurance policies don’t cover accidents that occur while driving for a rideshare or delivery service.
Company-provided insurance is meant to cover what your private policy doesn’t, but unfortunately, it usually isn’t enough. Whether it’s Allstate, State Farm, or Progressive rideshare insurance, this add-on will make sure you’re protected.
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What coverage does rideshare insurance provide?
Rideshare insurance, just like a normal insurance policy, comes in different forms. The amount of coverage you get depends on the plan you pick. The cost of rideshare insurance will similarly vary depending on how much you decide to get.
So how much is rideshare insurance? Here are some estimated monthly rideshare car insurance rates to compare:
|Company||Average Monthly Rideshare Insurance Rates|
|Allstate||Approximately $20 per year|
|Erie||Between $9 and $15 per month|
|Mercury||As low as $27 per month|
|Safeco||Possibly under $10 per month|
|State Farm||Approximately 15-20 percent of the original premium|
|USAA||As low as $6 per month|
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As you can see, it doesn’t cost that much to buy rideshare car insurance. And it could save you much more down the line.
Where can you get rideshare insurance?
Most major insurance companies will offer rideshare insurance as an add-on to your existing policy. It should be fairly easy to contact your current provider and get rideshare insurance added.
If your insurance company doesn’t offer rideshare coverage, you can look into commercial car insurance. That option is generally much more expensive, though, so you may want to consider switching insurance providers.
Now that you’ve finished this rideshare car insurance review, enter your ZIP code to start comparing rideshare car insurance quotes now.