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Rideshare Insurance in Florida

They live in Florida, and a ridesharing company like Uber or Lyft signed them to work. Do people know that they will need to purchase rideshare insurance in Florida? If they have not considered this coverage before, then they should. Drivers could face some serious issues by not having the proper coverage.

Florida is home to the largest rideshare markets in the country. Some of the major hotspots for ridesharing are Miami, Tampa, Orlando, and Daytona Beach. Unfortunately, rideshare insurance in Florida did not exist until 2017. Which is simply crazy considering how long this service has been in business. Farmers Insurance was the first insurer to provide this coverage type soon after. Other companies followed.

 

Which companies offer rideshare insurance in Florida?

Drivers must know which companies can cover them. Here is a list of companies that can provide them with a rideshare policy in Florida.

  • Farmers Insurance
  • Geico
  • Mercury
  • Progressive
  • State Farm

 

 

So do ridesharing companies provide them with the coverage they need?

Uber and Lyft can provide drivers with decent coverage if they have a passenger in the car or are on their way to pick up a passenger. However, if they sit and wait for a ride request to come in, they will not provide collision coverage. They will only offer a limited amount of liability and property damage coverage at that time. In other terms, while drivers are waiting for a ride request, Uber or Lyft are not paying for any damages or medical expenses that may incur due to an accident. They will only cover them for damages done to the other vehicle and the passenger’s injuries in that vehicle.

 

Does auto insurance cover everyone?

The auto insurance will not cover an accident while waiting for a ride request. Unless Florida Insurance Quotes equips them with a rideshare policy, the insurer will not cover any accidents while driving for Lyft or Uber. Suppose they are going for either of these companies and find out they are a rideshare driver. In that case, the carrier may cancel the policy. That is why it is essential to have rideshare coverage in Florida.

 

 

What does rideshare insurance in Florida cover?

Rideshare insurance in FL will extend auto insurance coverage during personal use. The coverage ends once they accept a ride request in the app. Once the driver drops off a passenger at their destination, their rideshare coverage in FL kicks in again. It applies until they accept the next subsequent ride request.

 

How much is it?

An auto policy with ridesharing coverage will cost $15 – $20 more each month. This cost will differ by company. As everyone should already know, rates vary by company. So when it comes time to select coverage, be sure to:

  • First, tell the auto insurer that they are driving for a rideshare company.
  • Determine the gaps between the policy and a rideshare company’s policy.
  • Always ask the current insurer whether they can offer a rideshare policy to fill in coverage gaps.

 

Remember always to disclose that they are a rideshare driver to the insurance company. If they leave this information out, they could risk the company dropping them. Also, if new to Uber or Lyft, understand the gaps in coverage they are facing, and be sure to purchase rideshare insurance in Florida.

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