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Yes, AAA offers rideshare insurance as an optional add-on to personal car insurance policies, though it is only available through certain regional clubs. AAA does not disclose how much its rideshare endorsement costs, but other companies typically charge 15% - 20% of a driver’s annual premium. Drivers can contact their local AAA club to learn whether rideshare coverage is available in their state.
Why It’s Important to Get Rideshare Insurance
In general, rideshare policies are important because the coverage provided by Lyft and Uber varies depending on where the driver is in the process of a ride. When a driver is online and waiting for a ride request, Uber and Lyft provide liability-only insurance.
Once the driver has accepted a ride request, Uber and Lyft provide up to $1 million in liability insurance, plus any other type of coverage required in the state. Both companies also provide collision and comprehensive insurance during this period for drivers who have these types of coverage on their personal policy. However, Uber and Lyft both have a deductible of $2,500. This deductible is significantly more expensive than the average car insurance deductible of $500.
Finally, Uber and Lyft don’t provide any coverage for drivers when the app is not on. For more information, check out WalletHub’s complete guide to rideshare insurance.
People also ask
How much does rideshare insurance cost?
For customers with a personal auto policy, the additional costs quoted by companies like Farmers and Erie for rideshare insurance are usually from $6 to $25 per month. Allstate offers its rideshare coverage for only $15 to $20 per year.
Rideshare insurance costs less than many drivers would think, making it well worth the price. However, prices vary and it’s important to look carefully at what each company covers. Costs often vary because companies...
read full answerWhy is AAA so cheap?
AAA is so cheap because the company offers a wide variety of discounts that almost anyone can get. A minimum coverage policy from AAA costs an average of $66 per month, and AAA premiums can be made even cheaper by taking advantage of discounts such as paid-in-full discount and safety inspection discount. Plus, AAA rewards customer loyalty with discounts for insuring more than one car and bundling multiple policies, such as home and auto.
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read full answerHow much is commercial auto insurance for Uber drivers?
Commercial auto insurance for Uber drivers can cost $1,200 to $2,400 or more per year. A cheaper alternative is rideshare insurance, for $10 to $350 per year, depending on your location and insurer. Rideshare coverage is a specialized kind of insurance that bridges the gap between your personal auto policy and the coverage that Uber and other rideshare companies provide for drivers.
Your personal auto insurance is unlikely to cover accidents you’re involved in...
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