# Insurance



## Hsaid (Oct 26, 2017)

hello
Do drivers usually have an extra policy for driving rideshare ? My insurance is already 156 a month and adding that can bump it up much more than I want. What do you use for coverage and do you use your own regular insurance since uber covers accidents or do you get an extra policy?


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## TheWanderer (Sep 6, 2016)

I don't but I should.


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## Hsaid (Oct 26, 2017)

TheWanderer said:


> I don't but I should.


How long have you been driving ? And was there a situation where you felt you had to?


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## Jettero (Aug 10, 2017)

My insurance company has a rideshare rider for $6 a month. I heard Geico won't cover you if you drive for rideshare. Check your insurance company website.


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## rickasmith98 (Sep 26, 2016)

As i understand it, any personal insurance policy has a rider that you cannot drive for hire. So if you should get in an accident during the period when you are driving with the app off and you are at fault, your personal insurance would provide your coverage. If you are lucky enough to be at fault in an accident and your insurance not find out you drive for rideshare, perhaps the accident will be covered. But if your insurance does find out you drive for rideshare, they will deny coverage and cancel you on the spot. Just not disclosing that you drive for rideshare is considered insurance fraud. There is a huge risk driving for rideshare and yet, 99% of drivers probably roll the dice, me included.

In some states, you can get what is called a rideshare hybrid policy, basically in between commerical coverage and personal coverage. It's much more reasonably priced than commercial insurance but in some states it's not offered. Here in North Carolina, we cannot buy that insurance. There are other threads on here that have much more written about all the different things to consider.

Because I do realize the risk involved, especially if you have assets and many of us do, I called to get a quote from Progressive for commercial insurance coverage. Have no tickets or accidents in the last 20 years and my cost was $3,200 per year to get commercial coverage.

I drive for Uber because I'll be retiring soon and my company doesn't pay health insurance premiums on me after I retire. Worst case, suppose I get into any accident and there are substantial medical bills and the accident is my fault. Your home and any other assets you have could potentiallly be at risk. Have heard where you cannot lose your home for medical bills but I would be surprised if that was the case. Does anyone know?

Also keep in mind that if Uber's insurance does cover your accident (periods 1 through 3), it's a $1,000 decuctible (Lyft's is $2,500).


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## BSki (Aug 3, 2017)

I do. Get into an accident in period one, and if your at fault, you're going to lose a LOT more than your vehicle.


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## TheWanderer (Sep 6, 2016)

Also remember, anytime you get into an accident that is your fault, James river covers the other people and their vheicle, but James river only covers your car. You would have to go through your health insurance. 
I have been driving for over 4 years. I have been into a few accidents while ubering, none my fault. It is better that you get rideshare insurance because it is pretty cheap.


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## sthriftybroke (Aug 23, 2017)

I don’t, neither does my dad (who also does uber.) We both only have no fault insurance because Detroit car insurance is stupid expensive for even just the basics.


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## Tysmith95 (Jan 30, 2017)

TheWanderer said:


> Also remember, anytime you get into an accident that is your fault, James river covers the other people and their vheicle, but James river only covers your car. You would have to go through your health insurance.
> I have been driving for over 4 years. I have been into a few accidents while ubering, none my fault. It is better that you get rideshare insurance because it is pretty cheap.


Most rideshare insurance policies do not cover phase 2 and 3.


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## Hsaid (Oct 26, 2017)

So the insurance provided by uber or lyft is a hoax pretty much


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## TheWanderer (Sep 6, 2016)

Tysmith95 said:


> Most rideshare insurance policies do not cover phase 2 and 3.


I never said they did.
I was just explaining James river.


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## Mars Troll Number 4 (Oct 30, 2015)

Hsaid said:


> So the insurance provided by uber or lyft is a hoax pretty much


No... it's just _*liability only*_ some of the time, to all of the time *depending on YOUR insurance policy*.

You NEEd

1. Collision/comprehensive coverage (no ands ifs or buts)
2. An insurance policy that allows you to do uber/lyft
3. collision/comp insurance during period 1 (as per that chart they posted earlier)

If your missing any of the three... there may be no insurance coverage on your car. (which is not illegal in many states)


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## steveK2016 (Jul 31, 2016)

Mears Troll Number 4 said:


> No... it's just _*liability only*_ some of the time, to all of the time *depending on YOUR insurance policy*.
> 
> You NEEd
> 
> ...


Participial correct.

You only have to have state minimum to drive Uber. Some states allow drivers to just carry Liability.

If you opt out of personal Collision, you won't have Collision with Uber either.

If you do carry personal Collision, but you did not disclose to your company that you driver Uber, you may not get Uber to cover your vehicle. They will cover Liability, they just won't cover Collision.


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## rickasmith98 (Sep 26, 2016)

The best possible outcome will only happen if you are never at fault in an accident. Another good reason to have a dashcam. Have caught 4 accidents that occurred in front of me on my dashcam.


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## Hsaid (Oct 26, 2017)

It seems most people don’t get an extra rideshare policy specially when parttime? I have in my insurance policy liability and collision - but isn’t there a massive deductible for liability? Or collision? Sorry I’m trying to wrap my head around it I’m not an insurance expert


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## rickasmith98 (Sep 26, 2016)

Do you also have the comprehensive coverage? Not sure if they still even call it that but previoulsy it was liability, collision and comprehensive. Wait, think it's now called "Other Than Collision" and includes stuff like vandalism, hitting a deer (which is so common here in rural NC), etc. 

You're right, most drivers don't get the rideshare insurance, whether part or full-time. I cannot get it because it's not offered in my state. My auto insurance for a 2016 car is $87.14/month or $1,045 a year. Have no accidents or claims but have more than the minimum coverage. Rideshare insurance if it were available to me would be more expensive but nothing as expensive as commercial insurance which is my only option in this state. Commercial insurance is $2,355 MORE per year than what I have now, or a whopping $3,400/year. Carry more than the minimum on my insurance not because of rideshare as my insurance company will cancel me for driving rideshare but because it was the coverage I had before driving for Fuber.

Having rideshare insurance makes you legit with your insurance company and they won't cancel you which is a huge stress relief. Believe someone on here posted that rideshare insurance doesn't cover the periods where you have James River insurance, but technically, your insurance now won't cover you for anything once they find out you drive for rideshare. If you can get the rideshare hybrid insurance, then it's worth the extra money and like I said, makes you legit with your insurance company. Am driving less and less with Fuber and if I get another fake service dog, it might be my last trip with them. How much do you drive for Uber /Lyft per week? 

Feel like I am part of a pyramid scheme sometimes. Your cash flow for driving this ridiculous part-time job seems so good at times but when you put the numbers down on paper, you barely make anything. Whether I drive a 40-mile trip or a 2-mile trip, the amount I make is dismal after factoring in all costs. That's why it's so important to only have a limited time that you plan to do it. If you only do it for 2-years, then you won't be hit so hard. If you do it full time, in order to pay for running your car into the ground, you have to work unbelievable hours even if you're in a great metro market when you get constant pings. When it's new, then it's fun. But now as much as I love people, every story is the same ole story. Even the best and nicest conversations with riders is routine and nothing I haven't heard 1000 times before. But as always the GREATEST benefit of driving for rideshare is the flexibility. What else in this world can you do when you want to do it by simply launching an app and flipping it on.


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## BentleyK9 (Oct 12, 2015)

I am about to test out the James River Claim process.... (period 3).


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## BentleyK9 (Oct 12, 2015)

BentleyK9 said:


> I am about to test out the James River Claim process.... (period 3).


DAMN... That was fast! I will say, the James River Insurance did come thru. just a little under the estimate my local shop quoted me, but it is reasonably within reach. All done within a 24hr period turn-around.


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## rickasmith98 (Sep 26, 2016)

BentleyK9 said:


> DAMN... That was fast! I will say, the James River Insurance did come thru. just a little under the estimate my local shop quoted me, but it is reasonably within reach. All done within a 24hr period turn-around.


Wow! I am sure you were pleasantly surprised. So glad it worked out for you and is nice for us other drivers to know that they will indeed deliver.


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## StevoLegal (Jan 31, 2018)

Hsaid said:


> hello
> Do drivers usually have an extra policy for driving rideshare ? My insurance is already 156 a month and adding that can bump it up much more than I want. What do you use for coverage and do you use your own regular insurance since uber covers accidents or do you get an extra policy?


Purchasing a supplemental insurance policy is essential to protect yourself in my opinion. Here is a summary of the "periods" when you may or may not be covered by Uber:

Period 1: Driver has the app "on" and is waiting for a request. Uber and Lyft provide no collision coverage (i.e. for damage to your vehicle) during this stage, and limited liability coverage (for injury to a passenger or other people involved in the wreck) - up to $50,00 for bodily injury with a total of $100,000 per accident.

Period 2: Driver has app "on" and has accepted a request or is on the way to a pick up a passenger. Uber and Lyft provide both liability and collision coverage during this stage but, collision insurance comes with a $1,000 deductible for Uber, and a $2,500 deductible for Lyft.

Period 3: Driver has a passenger in the car. Uber and Lyft assume the same liability and collision coverage as period 2.


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## rickasmith98 (Sep 26, 2016)

StevoLegal said:


> Purchasing a supplemental insurance policy is essential to protect yourself in my opinion. Here is a summary of the "periods" when you may or may not be covered by Uber:
> 
> Period 1: Driver has the app "on" and is waiting for a request. Uber and Lyft provide no collision coverage (i.e. for damage to your vehicle) during this stage, and limited liability coverage (for injury to a passenger or other people involved in the wreck) - up to $50,00 for bodily injury with a total of $100,000 per accident.
> 
> ...


I would gladly buy the hybrid rideshare insurance policy but it's not offered in my state and will never be offered because my stupid ass state's insurance commissioner got involved and screwed the pooch on that one. So my ONLY option is full commercial insurance which is way too expensive to justify.


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## StevoLegal (Jan 31, 2018)

Sorry to hear that. State insurance officials need to accept ridesharing as a reality and help drivers protect themselves.


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## TaroTeaFan (Jun 19, 2017)

Hsaid said:


> hello
> Do drivers usually have an extra policy for driving rideshare ? My insurance is already 156 a month and adding that can bump it up much more than I want. What do you use for coverage and do you use your own regular insurance since uber covers accidents or do you get an extra policy?


Hey, we would be happy to shop your policy for you. We have access to all of the carriers that are currently offering ride share in CA.


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