Insurance Alternatives for Rideshare Outfits for Comprehensive Coverage

Wednesday, February 7, 2018, 6:00 AM | 3 Comments

Working as a driver for a rideshare company gives you a chance to earn some side cash. This is something you can do after your work day is over or over the weekend, if you are free. You can also do it as a fulltime job. You can do this using your own car or someone else’s with a drawn up agreement.

The downside of this though is that the more you are on the road, the more you are at risk of an accident. Vehicular accidents are no small matter. As a rideshare driver, the risk is made worse by the fact that your insurance cover may be inadequate. You may be required to get additional coverage. You will need a Rideshare Guide to Insurance Alternatives for Lyft Uber Sidecar Carma to find out what choices are available to you.

  • Rideshare insurance policy

    This is what you need. Should you find yourself in a mangled wreck at the bottom of a ravine, this is the policy that will come through for you. There is no doubt that you will need an additional policy as a rideshare driver. It makes you breathe easier.

    It is important to find out if your existing insurance recognizes rideshare. You are most likely to find out that it does not cater for your kind of activities.

  • Understanding rideshare insurance

    A rideshare policy is custom made for the rideshare industry. Drivers in this industry are in need of extra coverage as the compulsory one does not take their work into consideration. Whereas some rideshare companies pay for coverage of their drivers, others do not. However, the coverage is not adequate because some critical areas are not considered.

    • The deductible level is almost unattainable. It is too expensive.

    • The entire trip is not included on the cover. This means that if you are on the road but have not received a request, then you are involved in an accident, the company coverage does not cover you. You are on your own.

    You are going to have to dig deep into your pockets to sort yourself and your car out. How relieved would you be if you had additional coverage to take care of such eventualities?

  • What are the risks of using the mandatory insurance only?

    There are several things to consider:

    • Working as a rideshare driver might interfere with the policy that is in place.

    • Very few personal insurance covers consider commercial driving in their underwriting.

    • The company could fire you once they realize you have no additional cover, which puts you on the high-risk list with the next company. This translates to higher premiums.

    It is therefore advisable to go for additional coverage to avoid such scenarios. You do NOT want to be on any company’s high-risk list.

  • Additional covers

    • Commercial

      Go for the standard one. This one is excellent if your vehicle is used for commercial purposes. It does not come cheap, but since insurance companies are coming up with packages custom made for the rideshare industry, you can breathe easy. All you have to do is inquire and compare.

    • Period 1

      This one complements the one provided by the rideshare company.
      Rideshare Guide to Alternatives for Lyft, Uber, sidecar, Carma provides information on alternative insurance products for rideshare drivers so that should they be inconvenienced by an accident, which is unfortunate and unprecedented, they will not find themselves holding the short end of the stick.

Throw us a like at Facebook.com/doable.finance


  1. 3 Trackback(s)

  2. Mar 1, 2018: Secret Facts on Rideshare Guide to Insurance Alternatives for Lyft Uber Sidecar Carma Only the Pros Know About – Schindler Roofing
  3. Mar 1, 2018: Who Else Is Lying to Us About Rideshare Guide to Insurance Alternatives for Lyft Uber Sidecar Carma? - WM6 Software
  4. Mar 1, 2018: The Demise of Rideshare Guide to Insurance Alternatives for Lyft Uber Sidecar Carma - Best Beard Trimmer

Post a Comment on Content of the Article

 

This is not a billboard for your advertisement. Make comments on the content else your comments would be deleted promptly.

CommentLuv badge