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The Uber business is growing at a more rapid rate. With a growing gig economy for Uber drivers, it is more important to protect your business.
As an Uber driver, you need to consider adequate car insurance for uber drivers. By having insurance, you can get an edge over Lyft drivers and secure more customers.
This article will cover important topics you need to know about commercial insurance for uber drivers policy.
Both Uber and Uber Eats drivers need to have auto insurance to cover property and bodily damages that might occur in an accident. Uber requires that drivers maintain their own comprehensive and collision auto coverage. Uber Eats driver insurance is also essential to protect yourself and your customers while delivering food.
Uber also offers supplemental protection to their drivers to ensure the safety of their customers. In case your personal auto insurance doesn’t cover an accident, Uber offers the following protection:
Other types of insurance needed to drive Uber with full protection are general liability, professional liability, and workers compensation.
General liability insurance for Uber drivers protects against claims of liability from their customers for personal injury or property damage. Some times when you would want to have this type of coverage include:
General liability will typically have a coverage limit of $1 million per occurrence and $2 million in aggregate. it’s possible to increase the limits of the general liability coverage of your Uber driver insurance policy.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $300,000/$1,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
Professional liability insurance protects drivers from any errors or omissions they make during their job. Times when you can use this insurance include:
Professional liability will have a coverage limit of around $1 million per occurrence. This limit can vary based on your policy.
| CoverWallet | NEXT | Thimble (Best) | Hiscox | The Hartford | |
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $2,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Can be included | No |
Business owner’s policy combines general liability and property insurance together to create one simplified policy. It may also include other types of insurance like business interruption. If you add this to your Uber insurance, you can expect it to pay off when:
The coverage of your BOP policy will be determined by the policies you select. General liability will generally be between $2 million and $4 million, and the commercial property coverage will depend on your assets.
| CoverWallet | Thimble (Best) | NEXT | Hiscox | The Hartford | |
| General liability aggregate limit | $2,000,000 | $2,000,000 | $2,000,000 | $300,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $500,000 | $260,000 | $25,000 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
Finding the best car insurance for Uber drivers is crucial, and commercial auto insurance is one of the most important types to have.
Commercial auto insurance is essential for Uber drivers, including those working as Uber Eats drivers. If you’re looking for car insurance for Uber Eats drivers, this type of coverage ensures your vehicle is protected while delivering food or passengers.
This protects your vehicle if it gets involved in an accident when serving customers and many other situations. Here are a few examples of when this Uber vehicle insurance can come in handy.
The coverage limits of Uber auto insurance is set at a minimum of $25,000 per bodily injury, $25,000 per property damage, and $50,000 per accident.
Get all the best quotes from leading providers in a click of a button!
Workers compensation for Uber drivers is an insurance policy that covers any additional drivers you hire. This will cover lost wages, death benefits, and other related expenses in case an occupational injury or disease happens. You will need this Uber accident policy in events like the ones listed below.
The average Uber driver insurance cost is $40 per month or $480 per year for a $1 million general liability insurance. On the other hand, the average cost of car insurance for uber drivers is $90 per month or $1,080 per year.
Factors that affect the cost of premiums are claims history, business history, policy limits, deductibles, and location.
| Cost per Month | Cost per Year | Deductible | |
| General liability insurance | $40 | $480 | $0-$500 |
| Excess liability insurance | $55 | $660 | $500-$1,000 |
| Commercial property insurance | $70 | $840 | $1,000-$2,000 |
| Business owner’s policy | $110 | $1,320 | $1,500 |
| Business interruption insurance | $85 | $1,020 | $500-$1,000 |
| Commercial auto insurance | $90 | $1,080 | $500-$1,000 |
| Workers compensation insurance | $116 | $1,392 | $2,500-$5,000 |
| Disability insurance | $113 | $1,356 | $1,000-$2,000 |
NEXT offers some of the best insurance for Uber drivers, covering things like towing, property damage, collisions, injuries, rental reimbursement and more. In addition, NEXT offers some of the best auto insurance for Uber drivers, with comprehensive coverage options. With their policy, you can insure ten vehicles and up to 15 drivers. This company has an AM Best rating of A- (excellent) and a Better Business Bureau rating of B+.
Average cost: $15 per month
The Hartford has a nice collection of policies like commercial property, general liability, collision coverage, bodily injury, and medical payments coverage that can be combined for your Uber driver’s insurance. The company has an A+ rating from AM Best, making it very financially secure, so you can be assured your claims will be fulfilled.
Average cost: $23 per month
CoverWallet offers options for physical damage, auto liability, towing, bodily injury, general liability, and other policies that Uber drivers care about. The company offers great guides on making the most out of your coverage in its resources section. They are an established marketplace with an A+ rating from BBB.
Average cost: $29 per month
Thimble offers a suite of policies that Uber drivers might need on the road. They have general liability, professional liability, commercial property, commercial auto, and many others. They also offer flexible insurance that can be purchased in the short term for freelancers and small businesses.
Average cost: $60 per month
Our rating: 10/10
Their agents personalize and tailor your experience to get the most for your dollar. Hiscox offers a podcast for side hustlers and entrepreneurs to learn from that greatly benefits Uber drivers. They have an A (excellent) rating from AM Best.
Average cost: $30 per month
Uber and progressive insurance make a great combination .They also offer general liability, professional liability, workers’ compensation, and more. Progressive has an A+ rating from BBB and an identical A+ rating from AM Best.
Average cost: $165 per month
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