For your best business protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!
Not all want to ride a taxi. Uber provides a more convenient option for commuting to reach a destination. With a growing gig economy for Uber drivers, it is more important than ever to make smart investments to protect your business. As an Uber driver, you need to consider an adequate Uber insurance policy. 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 an Uber driver insurance policy.
Uber driver insurance requirements will demand that any Uber driver has a form of auto insurance to cover property and bodily damages that might incur in an accident. Uber requires that drivers maintain their own comprehensive and collision auto coverage. Auto insurance for Uber drivers is required in virtually every state in the US. O
Uber also offers supplemental protection to their drivers to ensure the safety of their customers. An Uber driver without insurance will still have some kind of protection. In case your personal auto insurance doesn’t cover an accident, Uber offers the following protection:
$50,000 bodily injury per person
$100,000 bodily injury per accident
$25,000 property damage per accident
Other types of insurance needed to drive Uber with full protection are general liability, professional liability, and workers compensation. Having excess liability insurance is also smart.Â
Uber car insurance requirements state that that a driver must have $1 million auto liability coverage and $1 million property damage coverage. Contingent coverage must also be present. Moreover, protection for the driver himself or herself must be present. And so, underinsured/uninsured motorist coverage is required.Â
| 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 |
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:
A customer loses their bag in your Uber, and you are found at fault for replacing it
You accidentally injure a customer's foot when you are pulling up to serve them
A customer slips thanks to the conditions of your car and falls and hurts themselves
General liability will typically have a coverage limit of $1 million per occurrence and $2 million in aggregate. But note that it’s possible to increase the limits of the general liability coverage of your Uber driver insurance policy. That said, you can get as much as $3 million per occurrence and aggregate limits.Â
Uber drivers can benefit from an additional insured add-on to extend their general liability coverage beyond the individuals or groups named on their policy.Â
You can also include a tools and equipment policy so that the tools you use while on the job get covered even away from your business property.
No, car insurance for Uber drivers that the company provides does not have general liability coverage. Uber’s insurance policy generally sometimes only covers the minimum amount of insurance necessary for them to operate in an area. This does not include general liability protection for their drivers.
Public liability insurance for Uber drivers takes care of claims for bodily injuries and property damage. This type Uber liability insurance is a less comprehensive form of general liability insurance. Insurance companies in the USA include the language of public liability insurance in their general liability policies.Â
| 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 |
Professional liability insurance protects drivers from any mistakes or omissions they make during their job. Times when you can use this insurance include:
You making a mistake in dropping off a customer that causes them to seek financial damages
You forget to unload your client's bag and drive off without the customer getting it
Professional liability will have a coverage limit of around $1 million per occurrence. This limit can vary based on your policy.
One good add-on to get for your professional liability insurance is an extended reporting period, which allows you to report claims even if your policy is canceled or lapsed.
There are a few types of risks not covered by your professional liability insurance policy. These are outlined below.
| Employee Injuries | These situations are generally covered by policies like workers’ compensation |
|---|---|
| Vehicle Business Use | Anytime you are using a business vehicle, you would need to cover liability costs through a commercial auto policy |
| Discrimination lawsuits | A separate type of insurance called employment practices liability insurance is needed to cover incidents of harassment, discrimination, or wrongful termination |
| Customer Injuries | Injuries for customers will fall under general liability insurance |
| Property Damage | Damage to your property or customer property will need separate policies and are not generally covered under professional liability |
The deductibles for this Uber driver liability insurance will range between $500-$1,000 depending on the level of risk you experience and the premium you are willing to pay.
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| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $260,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Contents coverage limit (minimum) | $50,000 | $22,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Accounts receivable | Excluded | Excluded | $5,000/10,000 | Included | Excluded |
| Money and securities | Excluded | $2,500 | $1,000 | Included | Excluded |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Business interruption floater | Excluded | Included | Included | Included | Excluded |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Included | Excluded |
Commercial property insurance can be cheap insurance for Uber drivers because they often don’t have much commercial property to cover. This covers any property you use for business and any tools or equipment contained in it. Some of the times you might want this insurance include:
You store your vehicle in a working garage with tools, and a fire causes damage to your property
You have tools inside your garage that become stolen by a thief and need to be replaced
The average coverage limit for a commercial property policy is $60,000. The value of your property will determine the amount of coverage that you get.
Depending on the area your business operates in, you may want to add earthquake insurance, which protects your property from mudslides, landslides, and other earth movements.
No, not typically by default. If you have an accident driving Uber while you are on the road, commercial property insurance will not cover anything.Â
