If you’re like most rideshare drivers you got into it to make a little money on a side hustle. Don’t let an accident while you’re working cut into your rideshare driving profits. Here are two reasons you need specialized rideshare insurance.
Your Auto Policy May Not Cover You
If you think your regular auto policy is enough coverage you could be in for a rude surprise when an accident happens. Failing to notify your insurance company that you’re driving for a rideshare will automatically negate any claim after an accident. As soon as you turn on the app for work you are no longer using your vehicle for personal use, which is what your insurance policy covers.
Rideshare Insurance Isn’t Adequate
Your rideshare company will tell you that when the app is on, you’re covered under their policy. The fact is there are gap periods in their policy that could leave you completely unprotected. Worryingly, some companies are dropping drivers that have accidents in the gap period. Other times their policy simply doesn’t provide enough coverage.
To really protect those rideshare driving profits you need to be upfront with your agent about how you use your vehicle. With some research, you’ll find a good rideshare insurance policy that will protect you and other parties in case of an accident.