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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.
It demands that any Uber driver has to have a form of 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 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 |
Commercial auto insurance is perhaps one of the most important types of insurance for an Uber driver. 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.
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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 has great policy options for Uber drivers that cover things like towing, property damage, collisions, injuries, rental reimbursement and more. 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
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
9.4 / 10
Fastest ever online insurance quote and purchase! Also, great rates and professional customer reps that helps with whatever you need, if you need. Nice company!
2.8 / 10
Embroker sells a product that it doesn't honor. We purchased a combination D&O and EPLI policy. However, when it came to renewal, it told us that we only had D&O coverage even through our ACCORD certificate clearly mentions we have both. Basically they refused to honor the EPLI coverage and will leave you hanging with the bag. At time of renewal, they more than doubled our quote to get similar coverage. Basically BAIT & SWITCH. Unacceptable tactics. Easy to buy and pay but you may not be... Read More
2.8 / 10
Great platform. Terrible policy. There is no teeth behind it. No coverage. It's a fake policy that they sell. Sold us an EPLI policy that later we came to find out had no EPLI coverage. Amazing that they can get away with outright fraud. Check the positive reviews. They are all 'Anonymous' posted by Emroker staff. Stay away and find a real policy that will actually provide you coverage. We've been bitten by them and hope to find restitution via a lawsuit.
Paul Burns Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
It has been 70 days since I made a claim on the roof of my building. No one from the company will return calls. We are in hurricane season and located in Louisiana. My building is tarped to secure it.
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
They are the worst, my truck was hit in January 23 and the claim adjuster has not been out to this very day! They have every excuse in the book as to why. They have not been to the collision shop. PLEASE AVOID THESE SCAM ARTIST!
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Avoid these SCAM ARTISTS! They don’t pay claims!!! Save yourself the trouble and money!
Kasey Arey Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
This company gives you a price that was in place for a year and when you have to use it there is fine print were they can go back and charge you more. Would not recommend them to any one. Crooks
John Murphy Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Worst insurance comapny I have ever dealt with. A commercial vehicle represented by GUARD t boned my wife and daughters family vehicle in the middle of the day. Driver was cited and insurance claim insued. Fast forward 4 months and refusal of full amount of claim is still happening. Driver was found guilty, repairs started on my vehicle and when it comes to the final bill and diminished value we cannot get any help. I am out a family car, have an injured and traumatized wife and children,... Read More
Harshadray Patel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Extremely bad service, when you call , will make you wait on the phone for ever (over an Hour) and still no one to answer , so you end up hanging up. To cancel the policy, bounce you from one department to the other. They are supposed to refund from the date other insurance started and after sending the proof of other insurance policy, still they did not refund based on that actual date instead they use the date i managed to get hold of them. They charged me $7000.00 for a year's insurance on... Read More
Aaron Wensel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Guard Insurance is terrible. They were so bad I cancelled them because them couldn't figure out why I would never get a paper copy of the bill . Verified my address with them and still intermittent billing. I cancelled them in March through my local broker. Today 6/27 I get a letter in the mail from a collections company saying I owe 87.97. This was the first myself or my broker heard of owing this money. Here is some advice for this failure of a company send me a god damn bill and I will pay.... Read More
Michael Swink Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
My employer had to have workers compensation by law. He obtained a policy through this Berkshire Hathaway GUARD and they failed me. I fell from a ladder and fractured my spine in 7 different places, my clavicle in 4 places, and the base of my skull. Going to my Dr visits I was prescribed medication for pain and the insurance company placed a pre-authorization hold on me picking up the medication from Walgreens. The hold lasted 5 days! My weekly benefits have never been on time, right now... Read More
10 / 10
Liberty Mutual is one of the more simple companies to deal with. I had to file a claim for my business owner policy after I caught one of my employees stealing a large amount of products from my business. Liberty mutual paid the claim fast and with no efforts. I wish the legal process was as easy…
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
9.4 / 10
Very pleased with Hiscox - their small business insurance rates are very good and they specialize in small business which gives me a peace of mind as a small business owner. So far so good!
10 / 10
Their customer service is absolutely fantastic. Very patient, knowledgable and provided excellent explanation of the purchased policy. I would highly recommend this insurance company to anyone that's looking to protect their business from unexpected expense. Thank you Hiscox for doing a great job for my business!
0.6 / 10
STAY AWAY! I wouldn't recommend hiscox small business liability insurance to anyone. Better not waste both your money and your time. Hiscox customer service is extremely unpleasant, not organized and not professional. It is the worst company we have dealt with in almost 25 years in business!
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Extremely fast and simple. Wasted a lot of time and money until I found these guys! I feel like my business is in good hands now.
10 / 10
Hiscox's the best! My business is insured with them for over 12 years and am not planning to switch!
10 / 10
Excellent experience with Hiscox BOP for my coffee shop. They provided all it needed.
10 / 10
My HI barbershop is well covered with their great BOP product for 5 years already! not planning to switch!
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
10 / 10
Great experience
6 / 10
Didn't relate to the concept much, but it makes sense if you need insurance to go
0 / 10
It doesn't really feel sustainable to me and doesn't offer business interruption, product liability and commercial property insurance. They have no local agents and despite their technology first approach you cannot file claims online. Additionally, product manufacturers are not covered by Thimble and they don't provide enterprise solutions.
10 / 10
As a contractor that works 3 times a week for a few hours, Thimble gets really handy for me and saves me money. I have no use for these massive business insurance coverages offered by traditional insurance companies.
10 / 10
Excellent concept which is useful to many small businesses!
10 / 10
Been waiting for this type of solution for a long time!
10 / 10
Love their business insurance solutions for freelancers! Great app!
Not all those who wander are lost.
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