The gig economy has caused a blurring of the lines between work and personal time. Rideshare drivers are one example of how the lines can blur. A rideshare driver can work whenever the driver wants to with personal time in between. When the driver is on his personal time, his personal insurance is in effect. But when the driver has a passenger, the driver needs ridesharing insurance. Now, hybrid insurance for both activities is available online through a company called Buckle.
Lyft and Uber Insurance
The two major rideshare companies, Lyft and Uber, break down which insurance applies into three periods. In the first period, when the driver is offline or does not have the driver’s ridesharing app turned on, the driver is required to carry only the minimum personal insurance required by law. In the second period, the driver is available for a ride and waiting for one. In this period, both Lyft and Uber buy insurance for the driver. The third period occurs when the driver either has a rider or is on the way to pick one up. In this period, Lyft and Uber require the driver to buy ridesharing insurance with broader coverage and in larger amounts than the minimum required for personal insurance by law.
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For the first and third periods, the driver must have the driver’s own insurance. When the driver is off-duty, the policy with minimum coverage and limits is in effect. Yet when the driver is carrying a passenger or driving to pick one up, the ridesharing insurance covers the driver, passenger and vehicle. Because it is expensive to have two types of insurance policies at the same time, Buckle designed a hybrid policy that covers both the first and third periods. Lyft drivers can apply online and receive a quote in minutes.
The cost of this insurance is more affordable to the driver than having the two, distinct policies.
If you are involved in a rideshare accident, you should contact a rideshare liability attorney to assess your case and to seek the maximum recovery to which you are entitled to your injuries.
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