# Insurance



## Ctp1224 (May 10, 2016)

Is $250 a month for commercial insurance high? If so, what other options should I consider for riding in VA?


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## Simon (Jan 4, 2015)

That seems reasonable.. assuming your doing this full time.


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## EcoboostMKS (Nov 6, 2015)

Are you talking about that gimmick ride share insurance or actual commercial insurance? That's pretty cheap for livery commercial.


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## Ctp1224 (May 10, 2016)

Simon said:


> That seems reasonable.. assuming your doing this full time.


I would be doing this part time. No more than 25 hrs per week. What would the average $$ be in a bad, avg, and good market?


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## Ctp1224 (May 10, 2016)

EcoboostMKS said:


> Are you talking about that gimmick ride share insurance or actual commercial insurance? That's pretty cheap for livery commercial.


Not the gimmicks ride share. Actual commercial service through Geico.


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## EcoboostMKS (Nov 6, 2015)

Ctp1224 said:


> Not the gimmicks ride share. Actual commercial service through Geico.


Geico offers livery insurance? They definitely don't in my state, but it's probably a state by state thing. For actual commercial insurance, that's pretty cheap.

I pay about $3600 for the the year and that covers up to $1.5 mil in liability and full collision. I know some guys with accidents on their record paying $10k plus on their new suburbans which is the other extreme.


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## Simon (Jan 4, 2015)

EcoboostMKS said:


> Geico offers livery insurance? They definitely don't in my state, but it's probably a state by state thing. For actual commercial insurance, that's pretty cheap.
> 
> I pay about $3600 for the the year and that covers up to $1.5 mil in liability and full collision. I know some guys with accidents on their record paying $10k plus on their new suburbans which is the other extreme.


Geico offers hybrid policy they run it through thier commercial end.


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## EcoboostMKS (Nov 6, 2015)

Simon said:


> Geico offers hybrid policy they run it through thier commercial end.


I wouldn't waste my money on something like that driving for uber's cheap rates. Waste of money.

In CT, Geico doesn't offer the livery insurance that's required for Z or L plates. You need to go through a broker for something like that. That Geico rideshare insurance isn't accepted or nearly enough in coverage for state minimums.


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## Simon (Jan 4, 2015)

EcoboostMKS said:


> I wouldn't waste my money on something like that driving for uber's cheap rates. Waste of money.
> 
> In CT, Geico doesn't offer the livery insurance that's required for Z or L plates. You need to go through a broker for something like that. That Geico rideshare insurance isn't accepted or nearly enough in coverage for state minimums.


Who needs state mins? Be pretty rare to cause more than 100,000 in damage.


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## EcoboostMKS (Nov 6, 2015)

Simon said:


> Who needs state mins? Be pretty rare to cause more than 100,000 in damage.


According to the state of connecticut, everyone that wants to drive people around in exchange for money. Everyone except for uber drivers at least.

And get into a major accident with multiple hospital bills and you're easily passing $100k. Then if someone wants to sue on top of that. A buddy of mine got hit by a car on his harley a couple years ago and it was their fault. He's had about 5 surgeries since then and also sued her because he hasn't been able to work anymore. All paid by that driver's insurance and well over $100k.

But this is uber and the rules don't apply to that half of the business. That's why i said don't bother with that gimmick rideshare insurance. Just use uber's insurance like everyone else does.


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## claimbuster (Mar 25, 2016)

There's a gap in insurance coverage that has to be addressed. UBER provides one level of coverage when you have a passenger on board and a lower level of coverage for the period after getting the ping and loading the passenger. The gap, at least in the State where I live, is that time period when I'm logged in but haven't gotten a ping. My Farmers agent was very good at explaining this to me and it all checked out when I did my homework. Your basic personal auto policy does not cover commercial usage, period! I bought the additional coverage to fill that gap at a cost of slightly over $30 a month. I can live with that. I'm not going to put myself at risk in any way. Just not worth it.


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## Ctp1224 (May 10, 2016)

claimbuster said:


> There's a gap in insurance coverage that has to be addressed. UBER provides one level of coverage when you have a passenger on board and a lower level of coverage for the period after getting the ping and loading the passenger. The gap, at least in the State where I live, is that time period when I'm logged in but haven't gotten a ping. My Farmers agent was very good at explaining this to me and it all checked out when I did my homework. Your basic personal auto policy does not cover commercial usage, period! I bought the additional coverage to fill that gap at a cost of slightly over $30 a month. I can live with that. I'm not going to put myself at risk in any way. Just not worth it.


That's $30 plus your regular insurance?


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## claimbuster (Mar 25, 2016)

Yes, that's an additional $30. That really isn't a monthly charge, as I pay my insurance on an annual basis to get a little better deal.


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## Ctp1224 (May 10, 2016)

EcoboostMKS said:


> Geico offers livery insurance? They definitely don't in my state, but it's probably a state by state thing. For actual commercial insurance, that's pretty cheap.
> 
> I pay about $3600 for the the year and that covers up to $1.5 mil in liability and full collision. I know some guys with accidents on their record paying $10k plus on their new suburbans which is the other extreme.


The $3600 a year is for your personal car or uber leasing vehicle?


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## EcoboostMKS (Nov 6, 2015)

Ctp1224 said:


> The $3600 a year is for your personal car or uber leasing vehicle?


I own the car. It's for Connecticut state approved limousine insurance. It's a car I use 100% for work as a full time driver.


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## ubersan (Apr 29, 2016)

Ctp1224 said:


> Is $250 a month for commercial insurance high? If so, what other options should I consider for riding in VA?


No, it seems to be the standard rate for the DMV from Geico. You don't have many other options, I think some other folks go through Erie Insurance. There are other insurance companies who might provide gap insurance to cover during the app off periods and when using for personal use.

I thought $250/mo was for the first month (roughtly $250 for the first month), then goes to around $158/mo for the remaining 11 months. My total premium is $1744 for the year, that is with $1k deductible comp/coll, no rental reimburse, towing included, and single versus split coverage (single is a little more expensive than split).


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