The short answer to this question is yes; however, only to some degree. However, the rideshare coverage that is provided to you through ridesharing companies like Uber and Lyft still have gaps in the coverage and can leave you at extreme financial risk if you don’t have your own rideshare insurance coverage as well. Additionally, in the state of Florida, the rideshare insurance coverage provided through the ridesharing company like Uber and Lyft require the driver to carry their own comprehensive and collision insurance coverage in order to qualify for the rideshare insurance coverage provided by their company. There are four different periods that are important for all rideshare drivers to know and understand:
- Period 0 – This is the period that you are driving your vehicle for your own personal use and are not logged into the ridesharing app. During this period, your personal auto insurance coverage is effective and your rideshare insurance coverage is not, as this is considered standard personal use by auto insurance companies.
- Period 1 – This period begins as soon as you log into the ridesharing app and lasts during any period the driver is waiting for an assignment to accept. During this period, the rideshare insurance coverage provided by the ridesharing company will provide a limited amount of liability coverage, and the driver’s personal rideshare insurance coverage is also effective. However, the driver’s personal auto insurance coverage typically will not cover them once they are logged into the app.
- Period 2 – This period begins once a rideshare driver accepts an assignment and is in route to pick up a passenger but has not yet reached the passenger. During this period, the rideshare insurance coverage provided by the ridesharing company is effective, and typically the driver’s personal rideshare insurance coverage will extend coverage as well.
- Period 3 – This period begins only once the passenger has been picked up and is in the car. After the passenger has been dropped off to their destination, the driver returns to Period 0 or Period 1. During this period, the rideshare insurance coverage provided by the ridesharing company is effective and typically the driver’s personal rideshare insurance coverage will also extend coverage.
The important thing to recognize here is that the rideshare insurance coverage provided by the ridesharing company is not in effect at all during period 0, only provides limited coverage during period 1, and has deductibles that the driver must cover in period 2 and 3. The deductible the driver is responsible for is $1,000 with Uber and is $2,500 with Lyft.