Rideshare Insurance Illinois

The number of Uber drivers alone surpassed 1.5 million in 2017. With the increasing amount of drivers joining these rideshare services such as Uber and Lyft, the need for quality rideshare insurance Chicago and coverage continues to grow.

If you are thinking about driving for a rideshare company or already do, it is crucial to make your insurance provider aware of it. There are serious consequences to driving without proper insurance. If you fail to report to your insurance company that you are driving for a rideshare company, the insurance provider has the right to cancel the insurance policy for material misrepresentation. Having a cancelled policy for material misrepresentation will most likely mean higher premium rates in the future.

At Insurance Navy, we work with rideshare drivers and their employer to keep cars and their passengers protected no matter the stage of the trip. It is important for drivers to understand what your options are and how rideshare insurance policies work. Most drivers are not aware what type of coverage, if any, they have from their personal insurance company.

In terms of insurance coverage, there are three periods recognized by the insurance industry.

  1. Period 1: If a rideshare app is on and the driver is actively looking for customers, rideshare insurance and personal auto insurance do not insure the driver. At the point, the rideshare driver is COMPLETELY UNINSURED.
  2. Period 2: As soon as drivers are paired with passenger, they are insured under the rideshare company’s insurance.
  3. Period 3: This period starts when the customer is picked up until the costumer gets out of the car.

Why Rideshare Insurance is important?

Uber and Lyft only provide commercial insurance while drivers are linked with a passenger OR have a passenger in their vehicle.  This leaves a driver completely uninsured during period one since personal auto insurance companies consider driving for a rideshare program a commercial activity.

To avoid this gap in coverage, drivers need to get a complete ridesharing insurance plan. Rideshare insurance Chicago will cover you during all three periods, from waiting for a passenger to dropping them off at their destination.

Do you need more information about rideshare insurance? Our agents and customer service representatives are here to help. Call us today at 1-888-949-6289 or visit your nearest Insurance Navy location. For your convenience, Insurance Navy is open from 8 a.m. to 9 p.m. CST, 7 days a week.

*Please review your own policy carefully for details on rideshare insurance. Rideshare insurance coverage varies by contract.

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