Rideshare driving is actually divided into three periods. Just to give you a quick primer, period one is when you’re online and waiting for requests. Period two is when once you’ve accepted a request and you’re en route to pick up the passenger. Period three is when you’ve acquired that passenger, and you’re now driving to their destination. During periods two and three, the other two provides one million dollars of liability coverage, and they also provide collision coverage, but with a $1,000 deductible. If you’re with a passenger or en route to a passenger, you get into an accident, One service will cover you liability-wise up to a million dollars, but for collision side, if you’re at fault, then you’ll need to go and pay that $1,000 deductible. If the other person’s at fault, you could potentially try and go through their insurance and they would cover the deductible just like a normal accident.
The problem here, as you might imagine, during period one, you don’t receive any collision coverage, and the liability limits are much lower than normal. Typically, they’re at the state minimum. That might be 50, 100,000, so one bad accident during that period one time, not only will you get no collision coverage fromt he other two, if your car’s damaged, they’re not going to pay to repair it, but the liability aspect will also bring you up.
The thing that I want to point out is the policies are nearly identical, but one actually has $2,500 collision deductible, so during that period two and three, you would actually have to pay $2,500 out of pocket, which is quite expensive. Not a lot of people realize.
Going back to the period one is that you want to keep in mind that, hey, if I get into an accident during period one, you want to be covered. The other two don’t provide much coverage or anything at all during period one, and your personal insurer actually, if you tell them that you’re a rideshare driver, they’re not going to cover you during that period either, so that’s where you’re really at risk, and that’s where rideshare insurance can come into play because rideshare insurance is a small addendum and, honestly, I’m telling you guys, it’s really not that expensive in states where there’s multiple options. We’re hearing from drivers they’re paying $5, $10, $12 more a month. Sometimes it’s more. Sometimes it might be $50-$60 a month, and that’s significant, but, for the most part, it’s pretty small amounts more.
It’s just the hassle of getting a quote and switching and finding an agent, and we’ve got you covered. We’ve got an insurance marketplace on our website, which we’ll leave a link to, and you can go there, drop down menu, select your state, and then you’ll see all the recommended agents and the different options since, if you live in one state, maybe you have Geico available, but in another, it’s only State Farm and Farmer’s. We’ll be able to help you out there, and you guys can get your rideshare insurance covered.