Lyft Insurance: Everything You Need to Know

If you’re a Lyft driver, you may be wondering what kind of insurance coverage you have while you’re on the job. It’s important to understand your coverage to ensure that you’re protected in the event of an accident or other incident. In this article, we’ll discuss everything you need to know about Lyft insurance.

What is Lyft Insurance?

Lyft provides insurance coverage for its drivers while they’re on the job. This coverage is designed to protect both the driver and the passenger in the event of an accident or other incident. Lyft’s insurance coverage is divided into three periods:

Let’s take a closer look at each period and the coverage provided.

Period 1 Coverage

Period 1 is the time when you’re online and waiting for a ride request. During this time, your personal insurance policy is considered primary. However, if your personal insurance policy doesn’t provide adequate coverage, Lyft provides contingent liability coverage.

Contingent liability coverage provides up to $50,000 per person, $100,000 per accident, and $25,000 for property damage. This coverage is secondary to your personal insurance policy, but it can provide additional protection if your personal policy doesn’t cover everything.

It’s important to note that if you have a personal insurance policy that specifically excludes coverage for ridesharing, you won’t be covered during Period 1. You should check with your insurance provider to see if you’re covered during this time.

Period 2 Coverage

Period 2 begins when you accept a ride request and are on your way to pick up the passenger. During this time, Lyft provides primary liability coverage of up to $1 million per accident. This coverage also includes uninsured/underinsured motorist coverage.

If you’ve purchased comprehensive and collision coverage through Lyft, this coverage will also apply during Period 2. Lyft’s comprehensive and collision coverage has a $2,500 deductible and covers up to the actual cash value of your car.

Period 3 Coverage

Period 3 begins when the passenger gets into your car and ends when the ride is complete. During this time, Lyft provides the same coverage as Period 2: up to $1 million in liability coverage, uninsured/underinsured motorist coverage, and comprehensive and collision coverage if purchased.

FAQ

Do I need to have my own insurance as a Lyft driver?

Yes, you’ll need to have your own personal insurance policy while you’re driving for Lyft. Lyft’s insurance is designed to provide additional coverage, but it’s not a replacement for your personal insurance policy. You should check with your insurance provider to make sure you’re covered while you’re driving for Lyft.

What happens if I get into an accident during Period 1?

If you get into an accident during Period 1, Lyft’s contingent liability coverage will apply if your personal insurance policy doesn’t cover everything. However, if your personal insurance policy specifically excludes coverage for ridesharing, you won’t be covered during this time.

What happens if I get into an accident during Period 2 or 3?

If you get into an accident during Period 2 or 3, Lyft provides up to $1 million in liability coverage, uninsured/underinsured motorist coverage, and comprehensive and collision coverage if purchased. You’ll need to report the accident to Lyft as soon as possible to initiate the claims process.

What if my passenger is injured in an accident?

If your passenger is injured in an accident, Lyft provides up to $1 million in liability coverage for bodily injury. This coverage applies during Periods 2 and 3.

What if my car is damaged in an accident?

If your car is damaged in an accident, Lyft’s comprehensive and collision coverage will apply if you’ve purchased it. This coverage has a $2,500 deductible and covers up to the actual cash value of your car. This coverage applies during Periods 2 and 3.

Conclusion

As a Lyft driver, it’s important to understand your insurance coverage to ensure that you’re protected while you’re on the job. Lyft provides insurance coverage during all three periods of driving, but it’s important to note that your personal insurance policy is still necessary. If you have any questions or concerns about your coverage, be sure to contact Lyft’s support team for assistance.