Rideshare and Auto Insurance: It’s Complicated.

With so many options for a side hustle, you may be considering rideshare programs like Uber or Lyft. When it comes to the relationship between rideshare and auto insurance, it’s complicated. That’s why it’s important to have a trusted insurance agency by your side that knows the industry. Let’s dive in without getting too overwhelmed:

Each Rideshare App is Different

Rideshare services are exploding, each one with its pros and cons. Each has its own interface, procedures and protocols. Apps like Uber and Lyft provide insurance once you accept a rider request or product order, and others do not. These details are important if you’re in the market to start your rideshare enterprise.

Each Carrier Views Rideshare Differently

Not all auto insurance carriers in the preferred market allow for ridesharing on a personal auto policy. Some carriers will require a commercial policy. Some carriers will drop clients for becoming a rideshare driver. Your team at Cincinnatus Insurance knows which carriers cover rideshare and which ones don’t.

Another important factor your agent needs to consider is if auto insurance (or rideshare provided insurance) activates in a rideshare shift. For instance, when the app is off, your personal auto policy covers you. But what happens when you have the app on and wait for a request? Or if you’ve accepted a request? That’s where you get value out of having a Cincinnatus Insurance Advisor: we know what questions to ask, which carriers cover rideshare, and when.

Driving for Rideshare? You Need to be Covered.

Why even worry about this? You need insurance to cover you for accidents that happen during your rideshare shift. It can be covered by the rideshare app, or by your personal insurance. But the important piece is to have a solid idea of how you’re covered and when. If you don’t, at the very least your insurance advisor needs to be informed of what you’re doing. That’s why it’s so important to alert your advisor of this possible career change. Rideshare and auto insurance is a complicated relationship because of all of the options. If you don’t have a solid grasp of it, it can lead to financial disaster.

Don’t delay, contact a Cincinnatus Insurance Advisor today to help you slay this auto insurance beast!

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