As the gig economy grows, ride-sharing platforms like Uber and Lyft have become ubiquitous. While this offers a flexible way to earn, it also introduces complexities in auto insurance coverage. If you’re a ride-sharing driver or considering becoming one, understanding the ins and outs of your insurance is vital. At Commerce Insurance Agency, serving the greater Commerce, GA community, we want to ensure you understand your auto insurance policy and how it pertains to you if you’re a ride-share driver.
The Gap in Personal Auto Policies
Most personal auto insurance policies exclude coverage for "commercial use" of your vehicle. This means that if you’re involved in an accident while on a ride-sharing job, your personal insurance might not cover it.
Ride-Sharing Companies’ Insurance
Major ride-sharing platforms do offer insurance coverage, but it’s layered. When the app is on but no ride is accepted, there’s limited liability coverage. When a ride is accepted, or a passenger is in the vehicle, higher liability coverage kicks in. However, there can be gaps, especially concerning collision coverage.
Consider Ride-Share Specific Coverage
Recognizing the unique needs of ride-sharing drivers, many insurance companies now offer rideshare-specific policies. These plans fill in the gaps left by personal policies and the insurance provided by ride-sharing platforms.
Consult With Us
The world of auto insurance for ride-sharing drivers can be a complex landscape to navigate. By understanding where potential coverage gaps lie and taking steps to bridge them, you can drive with confidence, knowing you’re adequately protected. If you’re looking to find the right auto insurance policy for your needs in Commerce, GA, regardless of whether you’re a ride-share driver or not, reach out to the insurance agents at Commerce Insurance Agency to get started.