The popularity of the rideshare industry has sparked new full- and part-time careers for drivers of all ages. Yet, since Uber and Lyft drivers utilize their personal vehicles, it complicates choosing and maintaining an auto insurance policy. To make sure you're properly protected, here's a closer look at what you need to know about rideshare coverage. 

A Guide to Auto Insurance for Rideshare Drivers

Does a Personal Auto Policy Provide Coverage?

A standard auto insurance plan is designed specifically for personal use. Typically, the policy is voided for any type of commercial use, like ride-hailing. For that reason, most rideshare companies provide drivers coverage while they're working a shift. Yet, the majority of these policies only cover a state's most minimum monetary requirements and are often limited to medical and property damage liability. As a result, there's a significant risk that you could face high out-of-pocket costs for repairs or replacement of your own vehicle. 

What Type of Policies Are Available?

Rideshare drivers have a few options to buy protection. If you work for Lyft or Uber full-time, then you may need a commercial auto plan. Part-time drivers, on the other hand, need an endorsement to extend their personal property coverage to business needs. The rise of the on-demand industry has even prompted some insurance companies to create pre-packaged policy add-ons specifically for rideshare drivers. To determine which option works best for your circumstances, review your current policy with an insurance agency. 

What Protections Are Needed?

The goal of choosing an auto insurance policy is ensuring you're adequately covered in all areas of your life. Liability protection is a necessity, but a comprehensive and collision policy is also beneficial when dealing with the costs of at-fault accidents and theft, vandalism, or storm damage. Not only do you need these protections for both personal and rideshare usage, but you also need to carry enough coverage to avoid a financial burden. 

From commuting to ride-hailing, make sure your vehicle is protected with the help of Kramer-Myers & Werring-Dickerson Insurance in Batavia, OH. Since 1960, the independent agency has worked closely with drivers, homeowners, businesses, and farmers across Clermont County. The experienced team is committed to providing practical solutions and personalized service. Learn more about their auto insurance coverage online and request an insurance quote today at (513) 732-1461.