Cheap Rideshare Insurance

Rideshare insurance is more than a craze—it's a requirement for rideshare drivers and delivery drivers. You can get rideshare insurance from your insurance provider. However, rideshare insurance isn't available everywhere. Rideshare insurance can be as low as $6 per month or 15% of your overall premium. Continue reading to learn more.

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Chris Tepedino is a feature writer that has written extensively about auto insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and Cinncinati.com. ...

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Reviewed by Rachael Brennan
Licensed Insurance Agent

UPDATED: Dec 2, 2020

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Can't-Miss Facts

  • Rideshare insurance is available from some of the top insurance companies in the United States.
  • Lyft and Uber provide rideshare insurance.
  • Even if you have rideshare insurance, be sure to have an auto insurance policy.

Rideshare insurance is an essential coverage auto insurance companies will require if you use your vehicle for rideshare or delivery services. Coverage for rideshare could be as low as $20 per year, or it could cost a percentage of your overall policy premium.

Read through our guide to learn what rideshare coverage is, where to buy it, the best companies that offer it, and other aspects of rideshare coverage that will help you get insured as you earn money.

Do you need cost-efficient auto insurance to go along with rideshare insurance? Enter your ZIP code in the FREE online quote tool above to get started.

What is rideshare coverage?

Rideshare coverage is an added insurance perk for those who use ridesharing to earn money. Rideshare insurance usually covers the minimum requirements for auto insurance while you're using a personal vehicle as a taxi for local users in your local area.

According to Medium, the rideshare craze started in 2010.

Back then, ridesharing was insured solely by insurance companies. Ridesharers had to pay a type of commercial insurance or more expensive rates based on the number of miles they were estimated to drive.

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Can I buy just rideshare insurance?

No. Rideshare insurance provides coverage while you're working with services like Lyft, Uber, or DoorDash, but it doesn't cover you when you're inactive. In other words, during deliveries or ridesharing, there's a level of protection.

According to the Insurance Information Institute, every state has a unique coverage limit.

However, when you're not providing services to rideshare or delivery customers, you're responsible for carrying the minimum requirements for auto insurance.

Auto Insurance Companies with Rideshare Insurance

The cheapest company to offer rideshare insurance was Allstate, followed by Safeco rideshare insurance. State Farm rideshare insurance charges a percentage of your policy for rideshare insurance.

Rideshare Auto Insurance Insurance Rates By Company
CompaniesRide Share Auto Insurance Rate Increase Over Traditional Policy
AllstateAbout $20 per year.
Erie$9 to $15 per month.
MercuryStarting at about $27 per month.
SafecoLikely under $10 per month.
State Farm15%-20% of premium.
USAAStarting at $6 per month.
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Rideshare insurance for Progressive didn't rank within our research. Progressive didn't advertise their rideshare rate like the other companies. Rideshare insurance for Geico and Nationwide rideshare insurance didn't broadcast their rates either.

Who has the best rideshare insurance?

It's tough to say. The best rideshare insurance is often determined by the needs of an individual driver. What's clear is that rideshare insurance from the top insurance companies is much better than rideshare coverage from Lyft and Uber.

Here's a list of the A. M. Best ratings of the top insurance companies that offer rideshare insurance.

A.M. Best Financial Strength Ratings Of Top Auto Insurance Companies
CompaniesA.M. Best Financial RatingsDirect Premiums WrittenMarket SharesLoss Ratios
Allstate A+$998,91911.42%55.64%
Erie A+$1,153,85613.19%64.93%
GEICOA++$706,8978.08%74.24%
Liberty MutualA$424,1064.85%61.06%
NationwideA+$786,1098.99%59.96%
ProgressiveA+$875,57910.01%58.55%
State FarmA++$1,779,91520.35%63.70%
TravelersA++$335,9633.84%62.41%
USAAA++$299,4883.42%72.05%
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A.M. Best is a financial strength and credit rating agency that provides consumers with reviews and grades for businesses worldwide. For the most part, the companies in this list have a strong financial outlook with a superior or excellent ability to meet obligations to customers.

Watch this video to learn more about A. M. Best ratings.

Rideshare services that provide coverage only cover the bodily injury and property damage portions, while auto insurance companies with standard car insurance provide much more.

Who has the cheapest rideshare insurance?

USAA, Geico, State Farm, and Progressive are usually the cheapest companies for auto insurance. However, Allstate appears to be the cheapest company for rideshare insurance.

The average annual rate for each policy would be different. If you've seen a list of our auto insurance articles, you'd know that Allstate is one of the most expensive companies in the nation. However, their rideshare coverage is the most affordable.

Do you need rideshare insurance for Lyft or Uber?

Lyft and uber rideshare insurance is not required, but you're welcome to activate a rideshare policy with them to have extra coverage while you rideshare. It may be more cost-efficient for you to have Lyft or Uber rideshare coverage.

So, do you need it? It depends on your needs. Weigh out your options to see what works better for you.

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Rideshare Insurance: The Bottom Line

Find out what you need to be totally protected. Rideshare insurance alone won't protect you from every situation regarding auto insurance. You'll need to carry the minimum requirements for car insurance.

If you're still making payments on your vehicle, enroll in comprehensive and collision auto insurance coverage (full coverage auto insurance). This will help you even if you're at fault in the accident. Rideshare insurance is affordable, so use to your advantage if you're ridesharing or doing deliveries.

Shop for auto insurance in your area by entering your ZIP code in the FREE comparison tool below.

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