Choosing the right liability coverage when driving with ride share is important and your policy should include everything you have in a standard car policy to make sure your total coverage is adequate.
Ride share apps provide an easy and accessible way for people to get around their communities. With a few quick clicks of a button, consumers can easily request a ride to help them reach their destination in an affordable manner.
These platforms have evolved to allow people to choose the type of car they want to ride in, price points they want to pay and even if they want to split the cost of a fare with a friend.
It has also given way to people using their personal cars to earn extra income while picking up fares. Choosing to become a ride share driver can be fun and rewarding, but also involves several insurance considerations.
Car Insurance for Rideshare Operators
Personal car insurance policies do not provide coverage for when you’re driving with car share apps, although NFP can work with you to find the appropriate rate for what you are looking to do. Driving with ride share without the proper coverage may ultimately make you responsible for damages incurred. Extra liability risks are also involved when carrying passengers.
We work to help equip ride share drivers with the proper commercial insurance coverage so they can stay on the road and reduce the risk of income loss in the event of an accident.
A ride share policy activates once you open the app to begin taking fares, continues until you pick up the passenger or passengers, and carries over until the final destination is reached. Prior to you opening the app, your standard car insurance policy will cover you and your vehicle.
When using the app and transporting passengers, your liability and deductible changes may alter from what you would normally see in a standard personal car policy.
Another consideration is the deductible you decide to go with. Choosing a higher deductible may be cheaper, but usually means you’ll pay a large sum out of pocket should there be any damage to the vehicle or required repairs for the extra kilometres of wear and tear on the car.
Finding the Best Rideshare Insurance for Your Unique Situation
Our experts will look at your personal situation to determine the type coverage that fits your personal situation, including the type of car you will be using and how much you drive.
Work with us today to find the right coverage while earning extra income in the process.