Rideshare companies are cheaper alternatives to taxis. People who don’t own a car or are on a budget can opt for rideshare services from companies like Lyft and Uber. Those who do own a vehicle can make a little extra cash on the side doing rideshare. But, like most other business endeavors, it requires insurance coverage. Drivers should consider getting rideshare insurance in Rockford before they start.
Why is Rideshare Coverage Important for Drivers?
Both Lyft and Uber offer coverage for drivers. But the type of protection offered is minuscule. This means that what is offered isn’t enough to cover drivers or passengers when an accident happens. The only accident coverage that’s applied to drivers happens once the driver has made a claim against his or her auto insurance carrier after an accident.
Most individual policies do not cover rideshare claims after an accident, which is a good reason for rideshare coverage. Rideshare drivers spend more time on the road than most, which increases the risk of an accident. A regular liability policy doesn’t cover rideshare, and that’s a good reason to purchase the extra coverage.
What are the Specific Benefits of Rideshare Coverage?
Rideshare coverage has several perks. They include better protection for drivers and passengers and good legal protection. This gives drivers the security needed in case of a lawsuit. Plus, most providers offer special discounts to drivers who complete a mandatory minimum of trips without any issues.
Those seeking coverage can find options online. Comparable rates and plans can be found on the Insured ASAP Insurance Agency website.
