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Is Ridesharing Covered Under My Insurance Policy?

Did you know that nearly every insurance carrier and insurance policy excludes coverage for incidents that occur when a personal vehicle is used to transport paying passengers, such as during ridesharing.

Gap in Insurance

There may be a gap in insurance coverage between the driver’s personal automobile insurance policy and the commercial policy maintained by the company, such as Uber or Lyft. And, your personal auto insurance typically excludes coverage for business use or when drivers are “available for hire.” This exclusion means that a driver’s standard personal auto insurance would not likely cover them while a Transportation Network Company (TNC) application is turned on, even if they haven’t accepted a ride request and have no passengers in the vehicle.

In addition, the largest known TNCs operating in the U.S. only provide contingent liability coverage. If there is an accident, only third parties are covered for limited damages. . Due to coverage gaps with insurance provided by TNCs, you could be left to pay for physical damage to your vehicle and a personal injury in the event of an accident. You could also be on the hook if your vehicle is hit by an uninsured or underinsured driver as TNC insurance does not provide coverage for these situations.

So, what can you do?

Langlois Insurance Agency can offer an insurance policy that fills in that gap in coverage.

Extend your personal auto policy: With RideSharing Coverage, you get nearly the same coverage during applicable ridesharing activities as you do any other time you drive. First, we will identify which vehicle you use for ridesharing. Your RideSharing Coverage will only apply to the vehicle specified on your policy. If you have other vehicles insured, the coverage will not apply to them unless you purchase coverage for each one.

Rideshare More & Worry Less

So if you are a rideshare driver, you can still continue to generate extra income or even work full-time using your personal vehicle to transport others. But you can now be assured that you have the proper coverage for this business venture. You can still love the freedom of setting your own hours and traversing the city with interesting people in tow. The difference – you will have the appropriate auto insurance coverage when you drive for a transportation network company (TNC), such as Uber or Lyft.

Call #815-485-2106 for Information

As always, please don’t hesitate to contact any of us at Langlois Insurance Agency with any questions.  We want to ensure that you are properly covered.

Warmest Regards,

Matt Langlois