In the not-so-distant past, when you needed a ride, you’d hail a taxi or endure those endless waits for a traditional car service.
If you’re pondering joining the ranks of Uber drivers, you might be wondering about extra auto insurance requirements
With Uber, you can summon a ride and choose from a multitude of options instantly. Depending on your timing, a car could be at your door within minutes. Fear not, as we’ll address this concern throughout the following report. Whether you’re an Uber driver full-time or use it as a side hustle, the flexibility it offers is unmatched. You can shuttle passengers at your convenience, all while padding your income for various purposes, from bolstering savings to paying off debts and funding travel adventures with extra auto insurance.
Now, here’s the deal with extra auto insurance: Uber covers drivers while they’re on active duty. That means during your shifts, you’re insured. Uber offers $50,000 in bodily injury coverage per person, $100,000 per accident, and $25,000 in property damage coverage. Additionally, during a paid ride or when en route to pick up a passenger, Uber provides $1 million in third-party liability coverage, along with comprehensive and collision coverage.
But here’s the catch: you’ll still need your personal car insurance for off-duty moments, like when visiting a friend on the weekend
Your auto insurance company may consider how you use your vehicle, potentially affecting your rates. If you rarely drive, you could enjoy lower rates. This means that, although extra auto insurance isn’t a must for Uber drivers, you might still end up paying more for insurance.
Therefore, it’s essential to shop around and compare rates from different insurers. You might discover a better deal elsewhere, even as an Uber driver. So, remember that potentially increased premiums are an additional expense to factor in if you’re considering a part-time or full-time gig with Uber. Don’t let those costs surprise you be prepared and make informed decisions about your auto insurance needs when you become part of the Uber team.
READ ALSO: Medicare Part B Premiums Surge In 2024, Posing Financial Challenge For Retirees
Leave a Reply