If you think Uber and Lyft’s insurance is going to cover you if you get in an accident, think again.
That’s because rideshare companies only provide limited coverage during certain “periods” of driving.
You see, rideshare companies think about rideshare coverage as different periods as stated below:
- Period 1 – Online & WITHOUT a ride request
- Period 2 – Online & WITH a ride request (en route to pick-up or waiting for a rider to come out, etc)
- Period 3 – Online & with a rider in the car
Rideshare companies only provide very limited coverage during period 1 that DOES NOT include collision coverage which leaves drivers vulnerable. The rideshare companies do provide basic collision coverage for periods 2 – 3, but it doesn’t cover all situations. See the coverage and deductible amounts for rideshare companies below:
BUT if your insurance company finds out that you are driving for a rideshare company and you get in an accident, they could refuse your claim, drop your coverage, or hike your rates astronomically.
So what are my options as a rideshare driver?
If you’re a rideshare driver, this is what you need from an insurance company:
- Insurance made for rideshare drivers that includes full coverage during ALL rideshare driving periods
- Reasonable deductibles
- Affordable prices
- Flexible policies so you can choose when you’re covered
The problem is that most insurance companies don’t know how to cover rideshare drivers. Some are still too risk averse to cover rideshare drivers at all and if you mention that you’re a driver, you could instantly get dropped. On the other hand, many are offering coverage, but at ridiculously high rates that still don’t give drivers exactly what they need.
So does that mean your only options are to overpay for basic coverage or to rely on the insurance that the rideshare companies offer and remain vulnerable?
Nope.
There’s a new option available to drivers that allows you to protect your earnings and your rideshare business with on-demand rideshare insurance that gives you access to coverage across all driving periods for just cents per mile.
Oh, and you can buy coverage for 4-hours at a time, giving you the flexibility to buy coverage only when you need it.
It’s called optOn.
How does optOn work?
optOn provides drivers with micro-policies using their mobile app (iOS and Android) that last 4 hours or less, and you’re only charged for the distance you actually travel. So if you only drive 10 miles, you only pay for those 10 miles.
Getting coverage is an absolute breeze. You just download the app, sign up, and then press the big blue “Get Coverage” button on the home screen of the app. From there, select your coverage option, click purchase, and you’re covered!
That’s it. No lengthy background, driving history, or credit check. You just need a valid drivers license, valid credit card, and a car that 15 years old or newer.
Your coverage will last up to 4-hours.
Great… but what does my coverage include?
With optOn you get true coverage for rideshare drivers the entire time you’re driving for your rideshare business or even delivery business. So that means UberEats, Postmates, DoorDash, and Amazon Flexors are covered with optOn as well.
optOn has three tiers of coverage, Primary, Preferred, and Premier, that offer various levels of coverage depending on your needs. Check out your options below:
How much does optOn cost?
As stated, optOn charges you just for the distance that you actually travel, but the per mile rate varies depending on various factors like your age, location, time of the day, and weather.
Check out optOn’s rate card below:
Download the optOn app and sign up to see a personalized quote.
Should every driver use optOn?
optOn provides drivers with flexible, full coverage at an affordable price AND a lower deductible than many rideshare companies offer.
But optOn isn’t for everyone. If you’re a full-time driver that’s putting 4,000 – 5,000 miles on your car every month, then on demand insurance might not be the best option for you. However, drivers that are part-time or just beginning their journey as a rideshare driver and not ready to commit to spending 1000’s on a rideshare insurance policy will greatly benefit from optOn’s flexible coverage.
So if you’re still relying on your personal insurance or Uber/Lyft’s insurance to protect your rideshare business, stop putting yourself at risk and protect your earnings with optOn!
Want full affordable insurance built for rideshare drivers?
Get rideshare insurance for just pennies a mile using by signing up here!
