Driving for Uber, Lyft, or other rideshare services bring the potential to make a significant income. Driving also comes with many additional risks and hazards. Hopefully, a Montana rideshare driver took out an appropriate insurance policy to cover any property damage or personal injuries caused by negligent driving. Unfortunately, even someone with a pristine driving record and a serious intention to drive safely could cause an accident.
Rideshare driving adds more road-risk complexities
A rideshare driver who works a standard 40-hour full-time week on the road battles the law of averages. Someone who commutes 20 minutes up and back to work only spends a little over three hours driving. Risk exposure decreases, although no one suggests the risk for a mishap goes away entirely. That said, a driver who spends 40 hours on streets and highways may run into more chances for an accident. Hence, insurance for rideshare drivers could be higher.
Hopefully, the driver informed the insurance company of his/her intentions to drive for a rideshare service. A standard, non-commercial policy might not cover any commercial activity.
What about rideshare insurance?
Rideshare companies may offer different tiers of insurance for drivers. For example, someone waiting for a passenger request might only receive a minimal amount of liability when driving around waiting for a job. A rideshare driver who causes an accident and is underinsured or works with an inappropriate insurance policy could end up in financial trouble.
With no insurance to protect his/her assets, the driver could lose everything. What if he/she has no assets and hurts another driver? The injured party might be able to file an uninsured/underinsured motorist claim if he/she carries that coverage.
Rideshare driving could create “insurance concerns” for a worker. Drivers concerned about coverage for motor vehicle accidents may wish to double-check their policies for terms and exclusions.