If you're an Uber driver, you need to have the right insurance coverage in place. There are several different types of insurance that you should consider, and each one serves a specific purpose.
This article discusses three types of insurance that are essential for Uber drivers and how each type of coverage can benefit you. So whether you're just starting out as an Uber driver or you've been driving for a while, be sure to read this post.
Liability Insurance
This coverage protects you in the event that you are sued for damages caused by your driving. For example, if you hit a pedestrian while driving for Uber, liability insurance would help cover the cost of any damages that are awarded to the victim.
Liability insurance is mandatory in most states, so it's important to have this coverage. And fortunately, liability insurance is relatively affordable, so it won't break the bank if you're worried about splitting your earnings with your insurer.
Optional Injury Protection Coverage
If you're injured while driving for Uber, injury protection coverage will cover the cost of your medical expenses. This coverage also helps cover the cost of lost wages, so you can continue earning an income while in recovery. You can also get disability earnings through your injury protection coverage, which can help cover the cost of long-term care if you're unable to work.
Injury protection coverage is a good idea for Uber drivers, especially if they don't have health insurance. This coverage can pay for your medical expenses, so you don't have to worry about coming up with the money on your own. And while this coverage is optional, it's still a good idea to have it in place.
Rideshare Insurance
If you're driving for Uber, rideshare insurance can be a lifesaver for you. Rideshare insurance is designed specifically for drivers like you, and it provides extra coverage in the event of an accident. And best of all, rideshare insurance is affordable. You can typically get coverage for only a few dollars a month.
Rideshare insurance covers the gap that standard insurance doesn't cover. For example, if you're in an accident and your car is damaged, standard insurance will cover the cost of repairs. But if your car is totaled, rideshare insurance will help cover the cost of a replacement car.
In some cases, rideshare insurance will cover the cost of damages if you're involved in an accident while driving for Uber. It will also cover your medical expenses and lost wages.
Remember that the more coverage you have, the better protected you'll be. Learn more about this topic and make sure you speak to a qualified insurance agent to find out which policies are right for you.
