Does GEICO Offer Rideshare Insurance?
Despite common misconceptions, GEICO does not offer rideshare insurance or any comparable add-on for personal insurance policies to protect rideshare drivers.
Written by R.E. Fulton
Edited by Pat Roache
GEICO does not offer any
rideshare insurance
options, meaning GEICO customers who drive for a transportation network company (TNC) will have to look elsewhere to get this necessary car insurance
endorsement.- GEICO offers commercial insurance, but this does not cover drivers while working for a rideshare company like Uber or Lyft.
- GEICO policyholders who want to work for a rideshare company will need to switch to an insurance provider like Allstate or Progressive to get this necessary coverage.
- Rideshare insurance is a necessary insurance product for your policy because it covers the gaps left in your personal and rideshare company’s policies.
- GEICO offers commercial insurance, but this does not cover drivers while working for a rideshare company like Uber or Lyft.
- GEICO policyholders who want to work for a rideshare company will need to switch to an insurance provider like Allstate or Progressive to get this necessary coverage.
- Rideshare insurance is a necessary insurance product for your policy because it covers the gaps left in your personal and rideshare company’s policies.
No, GEICO doesn’t offer rideshare insurance
GEICO policyholders are not able to add any type of rideshare insurance coverage to their car insurance policy without seeking outside coverage options.
Keep in mind: GEICO does offer commercial insurance to cover
vehicles used by businesses
. However, commercial coverage is not designed to cover personal vehicles used for rideshare companies or food delivery services.What to do if you have GEICO car insurance and drive for a rideshare company
Without the option for GEICO rideshare insurance, rideshare drivers will have to
switch their car insurance policy
to a provider that does offer this necessary coverage.Gaps in your GEICO policy: Your GEICO insurance policy won’t cover you while your rideshare app is on, especially after you’ve accepted a ride request or made a pickup. Trying to rely on your personal auto insurance policy while working carries the following financial and legal risks:
Gaps in your company’s policy: Relying on the rideshare company’s commercial policy is also a dangerous approach because it only covers you while a passenger is in the car. This leaves you with major coverage gaps in between passengers/deliveries where you’d essentially be
driving without insurance
.The best rideshare insurance companies
How much it costs: Rideshare insurance costs more than standard auto insurance coverage by as little as $20 or as high as $300 per year.
The following auto insurance companies offer the best rideshare insurance policy options for Uber and Lyft drivers as of 2023:
What to expect: You’ll have to add your rideshare coverage as an endorsement to an existing insurance policy. Coverage limits vary, but you can expect your rideshare endorsement to include some
basic liability insurance
as well as collision and comprehensive options. How much it costs: A rideshare endorsement typically adds $30 or less to your monthly car insurance costs.
Expert tip: The best way to find a rideshare insurance provider that works for you is to
compare insurance quotes
from at least three to five companies. You can request free quotes from insurance agents or use an insurance comparison super app like Jerry
to instantly narrow down your best offers.How rideshare insurance works
A rideshare insurance policy covers your personal vehicle while driving for a transportation network company, specifically when you’re:
- Driving with your rideshare app open, waiting for a new assignment, and
- En route to a passenger or delivery.
This coverage supplements your rideshare company’s commercial auto insurance policy. For Uber and Lyft, these policies cover the following during rides
- Bodily injury liability coverage: Up to $1 million
- Property damage liability coverage: Up to $1 million
- Collision coverageandcomprehensive coverage: For drivers who havefull-coverage policiesfor personal use.
This coverage only applies to the period when a passenger is in the car—and it comes with a
high deductible
:- Uber driver deductible: $1,000
- Lyft driver deductible $2,500
The bottom line: You must purchase a personal car insurance policy with rideshare coverage to make sure you’re fully protected if your driving for a rideshare or food delivery service such as:
- Uber
- Lyft
- Doordash
- Uber Eats
- Grubhub
MORE: How to drive for a rideshare company like Uber or Lyft
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FAQs
Will my insurance rate go up if I drive for Uber or Lyft?
Yes: your rate will go up once you let your insurance company know that you’re driving part-time or full-time for a rideshare service. Driving for Uber and Lyft puts you and your car on the road for long stretches of time, raising the risk of an accident and the cost of personal coverage.
Should I tell my car insurance company that I drive for Uber?
Yes: You might be holding off on telling your insurance company about your new rideshare gig because you’re worried your rate will go up. However, failure to notify the company could lead to uncovered claims and even involuntary cancellation.
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