Understanding Rideshare Insurance Policies

All ridesharing drivers must carry their own personal insurance to be eligible to work for both Uber and Lyft. Furthermore, both companies carry $1 million of liability coverage for any crashes. However, coverage only applies to certain situations.

The following is a breakdown of Uber’s insurance policy:

• When the Uber app is off, the driver’s personal auto insurance is used in the event of an accident since they are not on the job, which means the company can’t be held liable.
• When the app is on and the driver is available, the driver’s personal insurance and Uber’s contingent liability coverage can be used in the event of an accident, which is between $50,000 and $100,000 for injures and $25,000 for property damage.
• When the driver is on an Uber trip and carrying a passenger, the company’s commercial insurance coverage is provided, which includes up to $1 million in third party liability, as well as $1 million in uninsured or underinsured coverage.

Lyft has similar insurance policies with their drivers. In regards to the other scenarios, recovering monetary damages can be quite complicated.

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