rideshare insurance Georgia
As an independent insurance agent at Blake Insurance Group, I’ve seen firsthand how rideshare driving has transformed the transportation landscape in Georgia. From the bustling streets of Atlanta to the charming neighborhoods of Savannah, Uber and Lyft drivers are providing valuable service to our communities. But with this new opportunity comes a unique set of challenges, particularly regarding insurance coverage.
Are you protected when you’re waiting for a ride request? What happens if you’re in an accident while driving a passenger? These are questions that keep many Georgia rideshare drivers up at night. And for good reason – did you know that your personal auto policy likely won’t cover you when driving for Uber or Lyft? This coverage gap can leave you financially vulnerable in an accident.
But don’t worry – that’s where rideshare insurance comes in and is more affordable than you might think. In this article, we’ll dive into the world of rideshare insurance in Georgia. We’ll explore the coverage options available, discuss the legal requirements, and share some insider tips on protecting yourself and your vehicle while maximizing your earnings as a rideshare driver.
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Whether you’re a seasoned pro navigating the traffic of downtown Atlanta or just considering joining the rideshare revolution in Augusta, this guide will help you confidently navigate the complex world of insurance. After all, as your local insurance agent, my job is to ensure you’re protected no matter where the road takes you in the Peach State.
Understanding Coverage Gaps
When you’re driving for Uber or Lyft, your personal auto policy typically won’t cover you during specific periods of your work. This creates a potentially risky situation where you might find yourself without adequate protection.
The coverage gap usually occurs during what’s known as “Period 1” – when you’re logged into the rideshare app but haven’t yet accepted a ride request. During this time, your personal policy isn’t in effect, and the rideshare company’s insurance provides only limited liability coverage.
Here’s a breakdown of the coverage periods:
Coverage Periods for Rideshare Drivers
Offline: Your personal auto insurance applies
App on, waiting for a request: Limited liability coverage from rideshare company
En route to pick up a passenger: Full commercial coverage from rideshare company
Passenger in the car: Full commercial coverage from the rideshare company
The gap in Period 1 is where rideshare insurance becomes crucial. It extends your personal auto coverage to include this waiting period, ensuring you’re protected at all times.
In Georgia, during Period 1, rideshare companies must provide at least $50,000 per person, $100,000 per accident for bodily injury liability, and $25,000 for property damage liability. However, this coverage is still limited compared to the full commercial coverage provided during active rides.
Without rideshare insurance, you could be personally liable for any accidents or damages that occur during this gap period. This could mean paying out of pocket for repairs, medical bills, or even legal fees if you’re sued
At Blake Insurance Group, we’ve helped many Georgia drivers find affordable rideshare insurance options to fill this gap. It’s typically just a small addition to your existing policy, often costing only 15-20% more than your current premium. That’s a small price to pay for the peace of mind, knowing you’re fully covered whenever you’re on the road.
Remember, every insurance company handles rideshare coverage differently. Some offer endorsements to your personal policy, while others provide separate rideshare policies. It’s essential to shop around and compare options to find the best coverage for your specific needs as a rideshare driver in Georgia.
State Legal Requirements for rideshare insurance Georgia
In Georgia, the legal requirements for rideshare insurance are as follows:
Minimum Coverage Requirements
When the driver is logged into the app but hasn’t accepted a ride (Period 1):
– $50,000 per person for bodily injury liability
– $100,000 per accident for bodily injury liability
– $25,000 for property damage liability
When the driver has accepted a ride and is en route or transporting a passenger (Period 2 and 3):
– $1 million in liability coverage for bodily injury and property damage
Uninsured/Underinsured Motorist Coverage
As of July 1, 2023, rideshare companies in Georgia are required to provide:
– $300,000 for bodily injuries or death to all persons in any one accident
– Maximum of $100,000 for bodily injuries or death to one person
– $25,000 for loss of or damage to property
Additional Requirements
– Insurance policies must be placed with an insurer licensed in Georgia or with an eligible surplus lines insurer
– Rideshare companies must maintain or cause to be maintained a primary motor vehicle insurance policy that meets these requirements
– Drivers must display the company’s signage or emblem (approved by the Department of Public Safety) while active on the rideshare network
It’s important to note that personal auto insurance policies typically do not cover commercial use of a vehicle. Rideshare drivers should consider purchasing additional rideshare insurance to cover potential gaps in coverage, especially during Period 1, when the rideshare company’s insurance provides only limited coverage.
Cost Considerations rideshare insurance Georgia
Average Costs
On average, adding a rideshare endorsement to your existing policy in Georgia might cost an extra $20-$30 per month. However, it’s important to note that costs can vary significantly based on several factors.
Factors Affecting Price
The cost of your rideshare insurance will depend on:
– Your driving history
– The type of vehicle you use
– Your location in Georgia
– The insurance company you choose
– The level of coverage you select
Comparing Providers
| Insurance Company | Average Monthly Cost |
|---|---|
| Auto-Owners | $120 |
| State Farm | $129 |
| COUNTRY Financial | $130 |
| Allstate | $140 |
| USAA | $150 |
Value Proposition
While adding rideshare coverage will increase your premium, it’s important to consider the value it provides. This additional coverage fills crucial gaps that could otherwise leave you financially vulnerable. For many of my clients, the peace of mind is well worth the extra cost.
Saving on Rideshare Insurance
To keep your costs down, consider:
Shopping around and comparing quotes from multiple providers
Bundling your rideshare coverage with other policies
Maintaining a clean driving record
Choosing a higher deductible if you’re comfortable with more out-of-pocket costs in case of a claim
Remember, while cost is an important factor, it shouldn’t be the only consideration when choosing rideshare insurance. Make sure you understand the coverage provided and how it aligns with your specific needs as a rideshare driver in Georgia.
Coverage Options in Georgia
Major Providers
Several reputable insurance companies offer rideshare coverage in Georgia:
State Farm: They’re often my go-to recommendation for rideshare drivers. Their coverage is comprehensive and tends to be competitively priced.
Progressive: Known for automatically extending most personal coverages to rideshare trips, including personal injury protection and roadside assistance.
Allstate: Offers unique deductible gap coverage, which can be a real money-saver in case of a claim.
USAA: If you’re eligible (military members and their families), USAA offers excellent rideshare coverage at competitive rates.
Mercury Insurance: Provides affordable options for existing policyholders.
Types of Coverage
Rideshare Endorsements
This is the most common type of coverage. It’s an add-on to your personal auto policy that covers you during that crucial Period 1 when you’re logged into the app but haven’t accepted a ride. State Farm, Progressive, and USAA all offer this type of coverage.
Extended Coverage
State Farm takes it a step further. Their rideshare endorsement extends your personal policy coverage through all periods of rideshare driving, even when you have a passenger. It’s like having your personal coverage with you always, which can simplify things if you need to make a claim.
Deductible Gap Coverage
Allstate and Progressive offer this unique feature. If you need to file a claim through Uber or Lyft, which often have high deductibles, they’ll cover the difference between the rideshare company’s deductible and your personal policy deductible.
Remember, the right coverage for you depends on your specific situation. How often do you drive? What kind of vehicle do you use? What’s your risk tolerance? These are all questions we’d discuss when finding the best coverage for you at Blake Insurance Group.
How to Choose the Right Rideshare Insurance Policy
When choosing the right rideshare insurance policy in Georgia, consider the following factors:
Coverage Gaps
Ensure the policy covers Period 1 (app on, waiting for ride request) as this is often a gap in coverage between personal auto policies and rideshare company insurance.
Comprehensive Coverage
Look for policies that extend your personal auto coverage to all periods of rideshare driving. State Farm, for example, offers this type of extended coverage.
Cost Considerations
Compare rates from different providers. On average, adding rideshare coverage in Georgia costs:
– 15-20% more on your current premium with State Farm
– Around $120-$150 per month for full coverage with companies like Auto-Owners, State Farm, and USAA
Deductible Gap Coverage
Consider policies that offer deductible gap coverage, like Allstate and Progressive. This covers the difference between your personal policy deductible and the rideshare company’s higher deductible.
Provider Reputation
Choose reputable insurers with good customer service and claims handling. State Farm, Progressive, and USAA are well-regarded options in Georgia.
Additional Benefits
Look for policies that extend personal coverages to rideshare activities, such as Progressive’s inclusion of personal injury protection and roadside assistance.
State Requirements
Ensure the policy meets Georgia’s minimum requirements of $50,000 per person and $100,000 per accident for bodily injury liability, and $25,000 for property damage liability during Period 1.
By carefully considering these factors, you can select a rideshare insurance policy that provides comprehensive protection and peace of mind while driving for Uber or Lyft in Georgia.
FAQs About Rideshare Insurance in Georgia
Blake Insurance Group
Phone: (888) 387-3687
Email: [email protected]
Hours: Mon-Fri 9:00 am to 5:00 pm
Sat-Sun: Closed
Blake Nwosu
Owner & Principal Agent