Best Rideshare Insurance in New York: Quotes, Discounts (2022)

Rideshare Insurance in New York

Driving for Uber or Lyft can be a great way to make extra money in New York, but your personal car insurance won’t cover your vehicle while you’re using it for business purposes. Luckily, many insurance companies offer a rideshare endorsement as an add-on to your personal insurance, which is typically more affordable. Compare customized rideshare insurance quotes with Insurify today!

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Rideshare Insurance Companies in New York

New York is one of the most expensive states for car insurance in the country. But some rideshare insurance providers offer cheaper rates than others. Below, you’ll find the average monthly cost rideshare drivers paid for policies from different companies in New York. To find a personalized rate, get free quotes from Insurify.

See More: Cheap Car Insurance in New York

How Rideshare Insurance Works

When the rideshare app is off, your personal comprehensive and collision insurance will cover you. But once you turn the app on and begin waiting for ride requests, your personal auto insurance policy won’t cover you. Transportation network companies (TNCs) like Uber and Lyft only provide third-party liability insurance during this time period. That only pays for damages you cause to another vehicle, not damages to your own.

That means you could be on the hook for damages to your vehicle in an accident you cause. Once you’re en route to a rider or on a trip, the TNC’s contingent comprehensive and collision coverage kicks in. That’ll cover you if you have a full-coverage personal policy, but it’ll leave you to pay a high deductible. Both Uber insurance and Lyft insurance have a $2,500 deductible.

Rideshare insurance is designed to fill those gaps, offering drivers the ability to use their personal vehicles for business purposes with full coverage. It ensures you won’t pay more than your personal deductible for repairs to your vehicle after an accident. Before you get started with the Lyft app or begin driving for Doordash, you should get a quote for rideshare insurance.

See More: Best Car Companies for Rideshare Drivers

New York Laws on Rideshare Insurance Requirements

Things work a little differently in New York City than in the rest of New York state. Uber and Lyft rides in NYC are regulated by the Taxi and Limousine Commission, so all NYC rideshare drivers need to have a commercial auto insurance policy and TLC plates.

If you drive for a TNC outside of NYC, you’ll just need to have a car insurance policy that meets the state minimum requirements, which include personal injury protection, bodily injury liability insurance, and uninsured motorist coverage. Rideshare drivers are not required to carry a rideshare insurance policy in the state of New York.

However, be advised that lying to your insurance company about the business use of your vehicle constitutes insurance fraud. And if your insurer finds out you filed a claim for damages sustained during rideshare activities, your insurer won’t cover any claims for incidents that occur while you’re driving for work. That’s why drivers for rideshare services should strongly consider either a rideshare endorsement or a commercial policy.

New York Requirements for Rideshare Drivers

Uber and Lyft each have their own requirements for drivers in the state of New York. Here’s what independent contractors can expect:

If you want to be a Lyft driver or an Uber driver, there are requirements you need to satisfy, such as:

• You must be at least 21 years old for Uber and 25 years old for Lyft.

• Your vehicle must satisfy the vehicle requirements.

• You must have had your U.S. driver’s license for at least one calendar year (three years if you’re under 25 years old).

• You must consent to sharing your picture with passengers.

Uber drivers and Lyft drivers who work in New York City have the additional requirement of needing commercial auto insurance and a TLC driver’s license and plates. Uber and Lyft also require your vehicle to be 2006 or newer with an approved TLC inspection. But you only need to be 19 years old to drive for Lyft in New York City.

Filing a Claim After an Accident As a Rideshare Driver in New York

If you’re ever in a rideshare accident, you’ll need to know how to file a claim. The process may be slightly different depending on the TNC you work for, but you can generally expect the following:

1. Contact the police: Make sure everyone gets the medical help they need and answer the responding officer’s questions thoroughly and honestly.

2. Gather information: Get the other driver’s insurance and contact information. Take pictures of the damages for your records.

3. Report the accident in your driver app: You’ll have the option to report the accident directly through your rideshare app. Follow the prompts to complete the process.

4. Notify your auto insurance company if necessary: If you’ll be using your rideshare coverage, you’ll need to file a claim with your insurance company.

5. Meet with your claims adjuster: Your insurance company will likely send someone to assess the damage and estimate the cost of repairs.

6. Follow up on reimbursement: Make sure you receive the funds. If you’re not happy with the adjuster’s estimate, gather data on vehicle repair costs and negotiate. If at any point you need legal help, seek the assistance of an attorney.

Find Cheap Rideshare Insurance in Minutes

New York rideshare insurance is expensive, but if you use the right comparison tool, you can avoid having to spend too much. Every insurance provider is going to weigh your individual information differently, so the best way to save is to get customized quotes from a variety of different companies. And Insurify makes that super easy to do.

You’ll just need to enter a few details to get started, check the box for rideshare coverage, and see your results. You’ll see side-by-side quotes from national and local providers alike, and you’ll have the option to adjust your coverage levels and deductibles until you find a policy that fits your budget.

Frequently Asked Questions