# Are You Properly Insured for Ride Share Driving?



## elelegido (Sep 24, 2014)

AutoGuide.com said:


> Services like KINTO Share let you rent a vehicle specifically to drive it for rideshare or delivery app work. Don’t want to put miles on your car or don’t have a vehicle that meets the requirements of the big services? Try KINTO Share.


The rate card for Kinto says $240 per week plus tax, so around $268 per week, or an eye-watering $1,160 per calendar month. 

I realise that you folks have to buy the cars and make a profit, but by charging such a large amount you're not leaving enough profit for the driver. For a driver who works 5 days per week, he/she would have to earn $54 per workday just for the car, and with current high gas prices, a 10 hour shift costs at least $40 in fuel. So, on a $200 revenue day, the driver pays $94 in car expenses and keeps $106, or $10.60 per hour. In Northern California, In-N-out burger pays $18 per hour...

If you'd offered cars 5 years ago when pay was higher then these charges would be easier to accommodate. However, there just isn't enough profit in the business any more to support a car payment of $1,160. While I wish you luck, I think you've missed the boat.


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## Classified (Feb 8, 2018)

elelegido said:


> The rate card for Kinto says $240 per week plus tax, so around $268 per week, or an eye-watering $1,160 per calendar month.
> 
> I realise that you folks have to buy the cars and make a profit, but by charging such a large amount you're not leaving enough profit for the driver. For a driver who works 5 days per week, he/she would have to earn $54 per workday just for the car, and with current high gas prices, a 10 hour shift costs at least $40 in fuel. So, on a $200 revenue day, the driver pays $94 in car expenses and keeps $106, or $10.60 per hour. In Northern California, In-N-out burger pays $18 per hour...
> 
> If you'd offered cars 5 years ago when pay was higher then these charges would be easier to accommodate. However, there just isn't enough profit in the business any more to support a car payment of $1,160. While I wish you luck, I think you've missed the boat.


You could own your own car for less than half that. Including all expenses. 

I agree with you, 

But I think these companies aim at people who need a temporary car if there car is getting fixed, or for someone who wants to try Uber before actually buying a car. Or for someone who can’t afford to buy their own car outright. Or maybe someone who is good with tax and can write it off. I would never rent a car for rideshare

these companies would be better to charge a per Mile/km rate, rather than a daily rate.or a rent to buy option.


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## Jimmy44 (Jan 12, 2020)

AutoGuide.com said:


> If you’ve entered the rideshare side hustle game, or are considering it, you’re not alone. More than one million Americans are already driving for at least one of the two big rideshare companies, Uber, and Lyft. You’ll need to think about your ride as well as gas prices and more vehicle maintenance, but are you properly insured for rideshare driving? You should be, and products like Toyota Auto Insurance can help you make sure you are.
> 
> Rideshare companies do offer insurance coverage to their rideshare drivers, but you may not be covered in all situations. Plus, like all insurance products, it can be complicated. Most offer similar coverages of $1m in third-party liability, some uninsured motorist coverage (good if you’re hit by an uninsured driver) and comprehensive and collision coverage. But this coverage only applies when you’ve got a rider in the vehicle or are on your way to a pickup and it won’t cover your medical costs if you’re injured. For instance, popular rideshare platforms may have a $2,500 deductible for collision and comprehensive, and the other coverage limits vary based on where you’re driving.
> 
> ...


My first year the rumor was you would be dropped immediately if your insurance company found out. Also the rumor was they would not be liable for any payment if you were in an at fault accident.
The third rumor was the cost would be through the roof.
So I drove my first year on pins and needles that I did not get into an at fault accident.
My second year I started googling and found out my insurance company State Farm had it.
I called up my agent and told him I was thinking of doing rideshare and wanted to be covered.
He hung up and called me back in ten minutes saying he could put a rideshare addendum into my current policy.
The cost about 40 dollars a day.
I could hardly hide my excitement and was covered that day.
The thing I like is I go threw him if I am involved with an accident. He deals with Uber and Lyft just like it was a normal accident.
Buying my brand new Prius in 2017 was my best business decision with rideshare.
Getting this rideshare addendum a very close 2nd.
I can really enjoy driving now and sleep a lot better.


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## elelegido (Sep 24, 2014)

Classified said:


> You could own your own car for less than half that. Including all expenses.


By buying an old Toyota you can own the car for a tenth of that, including all maintenance, repairs and depreciation expenses.


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## NGOwner (Nov 15, 2016)

Jimmy44 said:


> The cost about 40 dollars a day.


Yeah, that can't be right.

[NG]Owner


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## p7wang (12 mo ago)

elelegido said:


> The rate card for Kinto says $240 per week plus tax, so around $268 per week, or an eye-watering $1,160 per calendar month.
> 
> I realise that you folks have to buy the cars and make a profit, but by charging such a large amount you're not leaving enough profit for the driver. For a driver who works 5 days per week, he/she would have to earn $54 per workday just for the car, and with current high gas prices, a 10 hour shift costs at least $40 in fuel. So, on a $200 revenue day, the driver pays $94 in car expenses and keeps $106, or $10.60 per hour. In Northern California, In-N-out burger pays $18 per hour...
> 
> If you'd offered cars 5 years ago when pay was higher then these charges would be easier to accommodate. However, there just isn't enough profit in the business any more to support a car payment of $1,160. While I wish you luck, I think you've missed the boat.


And I think detailed analysis hit it right on the head. On another thread, someone mentioned Uber tried to sell its platform to taxi, but seeing that Uber takes 40% of the fare, I can see why the Taxi companies are not interested. So, off to find the next sucker that will work cheap/free. LOL


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## woodbridgejae (Dec 3, 2021)

NGOwner said:


> Yeah, that can't be right.
> 
> [NG]Owner


40 dollars a month extra xharge


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## _Tron_ (Feb 9, 2020)

This is a poorly written article that doesn't look like it iterated even once through a copy editor. Newbies maybe better served searching the forum for the numerous threads already in existence, or posting their question(s) in a new thread.


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## MissAnne (Aug 9, 2017)

woodbridgejae said:


> 40 dollars a month extra xharge


I only pay $12 extra per month for my rideshare addendum through Allstate.


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## 58756 (May 30, 2016)

AutoGuide.com said:


> If you’ve entered the rideshare side hustle game, or are considering it, you’re not alone. More than one million Americans are already driving for at least one of the two big rideshare companies, Uber, and Lyft. You’ll need to think about your ride as well as gas prices and more vehicle maintenance, but are you properly insured for rideshare driving? You should be, and products like Toyota Auto Insurance can help you make sure you are.
> 
> Rideshare companies do offer insurance coverage to their rideshare drivers, but you may not be covered in all situations. Plus, like all insurance products, it can be complicated. Most offer similar coverages of $1m in third-party liability, some uninsured motorist coverage (good if you’re hit by an uninsured driver) and comprehensive and collision coverage. But this coverage only applies when you’ve got a rider in the vehicle or are on your way to a pickup and it won’t cover your medical costs if you’re injured. For instance, popular rideshare platforms may have a $2,500 deductible for collision and comprehensive, and the other coverage limits vary based on where you’re driving.
> 
> ...


Yes I got Allstate.


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## Gary G (11 mo ago)

Same here, Allstate. I wouldn't be without it. The peace of mind is worth it.


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## charlesmox1 (11 mo ago)

_Tron_ said:


> This is a poorly written article that doesn't look like it iterated even once through a copy editor. Newbies maybe better served searching the forum for the numerous threads already in existence, or posting their question(s) in a new thread.


 Yes, I'd rather read real reviews


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## Atom guy (Jul 27, 2016)

The dirty secret is that your personal insurance is covering you for period 1 and 2 - YOU ARE ALONE IN YOUR CAR. Who's to say you are doing rideshare? So essentially they charge you extra for a rideshare endorsement for coverage you can claim anyway.


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## Stevie The magic Unicorn (Apr 3, 2018)

Atom guy said:


> The dirty secret is that your personal insurance is covering you for period 1 and 2 - YOU ARE ALONE IN YOUR CAR. Who's to say you are doing rideshare? So essentially they charge you extra for a rideshare endorsement for coverage you can claim anyway.


In florida they are allowed to inquire with rideshare companies in order to determine the online status for drivers for the sole purpose of determining coverage and denying coverage.

In Florida anyway... the LAW seperates out uber driving not in 4 phases but in a much simpler "logged in" and "Logged out". If you are "logged in" the companies must provide liability coverage equal to the for-hire laws. Also your insurance company does not have to provide coverage AT ALL if you are logged in, but the law does not prevent them from doing so.

So in florida.. if an adjuster sees your uber sticker they can ask uber for your online times for that day, uber has to answer, and then your insurer can deny coverage.

Also there is something called an "exclusion".

your policy can very likely have an exclusion that prevents commercial use. So even if you were in period 1 they can argue that you were "working" if you were online and deny you coverage.

So, depending on what state you are looking at your statement is flawed, your insurer may not be providing any coverage once they find out you drive for uber.


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## 58756 (May 30, 2016)

Stevie The magic Unicorn said:


> In florida they are allowed to inquire with rideshare companies in order to determine the online status for drivers for the sole purpose of determining coverage and denying coverage.
> 
> In Florida anyway... the LAW seperates out uber driving not in 4 phases but in a much simpler "logged in" and "Logged out". If you are "logged in" the companies must provide liability coverage equal to the for-hire laws. Also your insurance company does not have to provide coverage AT ALL if you are logged in, but the law does not prevent them from doing so.
> 
> ...


Uber sticker you say. Lol in my market that sticker can get you murdered. It's becoming a lot like South Chicago in my market. The sticker tells the would be car jacker that you got the car from Uber and it's all ok and fine if he steals it. The carjacker doesn't know if you bought car yourself and own it. They think you pickup car from some Uber facility or something. 1 of my Somali blood brothers got shot six times and his car stolen by a car jacker who requested Lyft after getting off at bus stop. I am always scared to pickup at bus stops and I never do Lyft. Lyft in my market attracts a lot of undesirable pings from risky and sketchy areas.

I never drove with the decals. If the inspector for the city of Minneapolis ever got in my car ( a rarity), I'd just inform her/him that I don't do decals for my safety and my customers can see my licence plate in the vehicle.


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