Uber and Lyft both provide $1 million liability and collision coverage during periods 2 and 3 but during the first period, drivers do not have any form of collision coverage from their rideshare company or their personal auto insurance.
Uber and Lyft insurance policies for periods two and three very similar. Uber has a $1,000 collision deductible and Lyft’s deductible is $2,500.
During periods two and three, drivers are insured for the following three things:
Liability insurance covers a driver’s liability for third party damages. Liability coverage limits are at least $1,000,000 per accident.
Uninsured or underinsured motorist bodily injury coverage
Uninsured and underinsured coverage protects drivers from drivers that do not have enough insurance, any insurance at all and even hit and run accidents. Coverage limits are at least $1,000,000 per accident.
Contingent collision and comprehensive coverage
This coverage protects a car in case of an accident whether it is the driver’s fault or not, as long as drivers have collision coverage on their personal policy. The policy limit is the actual cash value of the car.
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.