Rideshare Insurance

Austin, Texas, Rideshare Insurance

Driving for a rideshare service such as Uber or Lyft is a great way to earn extra income using your personal car. But, when you consider the pros and cons of doing this work, it is imperative you first consider your risk and liability.

For instance, does your personal auto insurance cover you in an accident or other event while you are driving a rideshare customer? The quick answer to that question is usually, “no.” That is why drivers must investigate the coverage provided by the rideshare company and ensure that they are covered against all possibilities.

At our Austin, Texas, insurance agency—Central Insurance—we make sure Uber and Lyft drivers are protected against risk while on the job. Personal vehicle used by rideshare drivers are not part of commercial livery fleets, and therefore not automatically covered by the usual commercial insurance that covers taxis and limousines.

Why You Need Rideshare Insurance Coverage

The main reason you need rideshare insurance is that the coverage provided by Uber and Lyft only cover you when you are either on your way to pick up a customer or when you are actually driving the customer. It does not cover you fully when you are waiting for a call. This means if you have an accident while awaiting a call, rideshare insurance may not cover all your costs. The chances that your personal car insurance will cover you are even less.

Another reason you need rideshare insurance is that your personal car insurance company could cancel your policy altogether or raise your rates significantly if you try to make a claim after an uncovered accident. This could affect your ability to drive; you do not want to risk it.

Coverage Options Available to Rideshare Drivers

Some insurance companies have developed policies that explicitly cover Uber and Lyft vehicles, drivers and passengers. Fortunately, many of these policies are available in Texas. Some of the policies are comprehensive, covering you whether you are on personal errands or on the clock for Uber or Lyft. Other companies provide an endorsement for your exiting auto policy that covers you when waiting for call from a rideshare customer. Our insurance specialists will match your existing auto policy with the appropriate rideshare insurance to provide the best protection.

Another Considerations for Texas Rideshare Drivers

You may already have a commercial policy that covers your rideshare driving, as policies or endorsements for rideshare drivers have only been around for a few years. You may wish to explore a rideshare policy, as this type of insurance could cost you less. Our Austin agency can help you determine your best option.

Contact Central Insurance for a Free Rideshare Policy Quote

To learn how a rideshare policy can protect you while driving for Uber or Lyft, contact Central Insurance by email or call us at 512.451.6551. We offer free quotations and insurance advice.

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