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#NERDWALLET COMPARE AUTO INSURANCE DRIVERS#

Hybrid Insurance Package: This type of coverage combines your personal and rideshare policies into one policy under a single premium.

For example, if you don't have collision coverage on your personal policy, then you won't have collision coverage when you're on your rideshare shift. Keep in mind that it only extends the coverage you already have.

Personal Insurance Coverage Extension: This type of coverage extends your personal insurance coverage so that it protects you while you're on your rideshare shift.

When you're on your shift, but you don't have a passenger in your vehicle, that's when your additional protection kicks in. That means it covers everything that your rideshare service-provided policy doesn't.

Additional Protection: This type of policy usually comes in the form of gap coverage.

#NERDWALLET COMPARE AUTO INSURANCE DRIVERS#

Types of Rideshare Insurance PoliciesĪccording to Insurify, when purchasing rideshare insurance, drivers can typically select one of the following: You don't want to have to pay out of pocket because of coverage gaps, especially if you're trying to pay off student loans, saving up for a vacation, or trying to cover household expenses. Having to pay out of pocket for damages.Getting dropped by your insurance provider from your personal policy.

There are a few risks that come with forgoing a rideshare policy, including: Purchasing additional rideshare insurance covers those gaps that occur when you're waiting to match with a passenger or on your way to pick up a passenger. Progressive notes that while rideshare services and delivery app services might provide limited insurance to their drivers, it usually only covers you when you have a passenger in your car. If you drive part-time, rideshare insurance offers you the flexibility not available with commercial insurance. Typically, a rideshare policy covers damage to your vehicle and medical care for you and your passengers, and it's less expensive than conventional commercial insurance. Most insurance providers let you purchase rideshare insurance as a hybrid insurance package or you can add it to your current insurance policy. What is Rideshare Insurance?Īccording to Progressive, rideshare insurance is a policy designed to meet the needs of drivers who work for services such as Uber and Lyft. How much is rideshare insurance? That depends on what provider you purchase a policy from and how much coverage you buy. If you're thinking of earning some extra cash by driving for a rideshare service, it's a good idea to purchase rideshare insurance.