If you live in Florida and have recently signed on to work with a ridesharing company like Uber or Lyft, congratulations! Your entrepreneurial spirit is shining through and you will be on your way to financial freedom in no time.
However, have you given any thought to what happens to your Florida vehicle insurance once you start using your car on the job?
If you have not yet considered Florida rideshare insurance, it’s time you should. There could be serious implications involved in the event of a claim and you don’t want to be caught unaware.
Unfortunately, your Florida vehicle insurance policy will not cover your vehicle for business purposes. You may end up having your policy canceled or your claim denied even if the incident doesn’t happen when you’re on the clock. It’s a serious gap in your coverage and you need to take control before it becomes an issue.
To better understand what kind of rideshare insurance you need, you will need to get a better idea of what insurance your Florida rideshare company will provide.
While there are several ridesharing companies operating in Florida today, to keep it simple we will focus on the two top players: Uber and Lyft. Each of their websites provides comprehensive information as to what they provide and what they don’t provide while you are on the clock.
You can view their current policies here:
Both services provide coverage at different stages of the ridesharing process. For instance:
Offline means times when you are not logged-on to the service. This is when your Florida personal vehicle insurance coverage is active.
Logged in refers to those times when you are technically on the clock but not engaged in a ride. So, you could say this is when you are in between jobs or waiting for a call.
Accepted a ride is when you are logged on and have accepted a job.
Notice that in both cases, you only have limited liability coverage and no comprehensive or collision when you are logged in but not engaged in a ride. Once you have accepted a ride, the Florida liability coverage goes up to $1M and the comprehensive and collision is added – but only if you have this coverage on your regular Florida insurance policy.
In addition to your standard Florida insurance, most insurance companies will require you to purchase two separate policies. One would be similar to what would be required of a taxi, and the other would be your own Florida personal vehicle insurance. The problem with this scenario is that it can be very expensive and you may have gaps in your coverage when you are using your car for personal purposes.
The safest way to ensure you are covered in all instances is to obtain coverage that applies to both personal and commercial use and ensure that you are covered both when you are logged on and not logged on.
Infinity Insurance Company recently started offering an endorsement applicable to all personal insurance policies that allow you to use your car for work if you are engaged with a rideshare company such as Uber or Lyft. This endorsement is the best rideshare insurance in Florida, providing ongoing coverage even when you are not logged-on, but also when you are logged-on but not engaged in a job.
With this endorsement from Infinity Insurance, you maintain your liability limits at all times except when you have accepted a ride. It is at these times that the rideshare company’s liability insurance is at its greatest value
Infinity Insurance Company charges an additional premium for rideshare insurance, but in light of the alternatives, the cost is far less, and you won’t have to worry about gaps in your coverage when you are in between rides.
Keep in mind that Florida rideshare insurance does not cover you for any other business use of your vehicle. So, for instance, if you also work as a courier, your Florida rideshare insurance won’t cover you there.
If you are looking for a simple and safe way to remain adequately protected in Florida when you are working for Uber or Lyft, Infinity Insurance Company has the solution you need. Their rideshare insurance policy endorsement is the easiest way to satisfy all of your insurance needs and give you and your passengers peace of mind.
Insurance companies today do not always offer the same types of coverage that Infinity Insurance Company does. Florida’s Infinity Insurance is on the cutting edge of the ridesharing trend and can help you find the coverage you need. Above all, you want to make sure you are covered in the event of a loss. If you have any questions or would like to add a ridesharing endorsement to your personal auto policy, click the Next Steps button or chat to get in contact with our representatives at Dopazo Insurance today!