Rideshare Insurance In Florida

In this review, we’ll compare the top rideshare insurance companies and policies, as well as cover the average cost of rideshare insurance in Florida. By not carefully selecting a good rideshare insurance policy, you run the risk of inadequate coverage, which could lead to significant out-of-pocket expenses in the event of an accident.

During my 15 years of experience selling insurance in Florida, I’ve found that the right policy can save rideshare drivers from unexpected financial burdens and ensure they are adequately protected while on the road.

Rideshare Insurance Requirements In Florida

Understanding the three phases of rideshare driving is essential for knowing how insurance coverage applies at different times. The rideshare process is generally broken down into three phases:

1. Phase 1 (App On, No Ride Accepted): This phase begins when the driver has logged into the rideshare app and is waiting for a ride request. The driver is technically on the job but has not yet accepted a ride.
2. Phase 2 (Ride Accepted, En Route): This phase starts when the driver accepts a ride request and is on the way to pick up the passenger. The driver is now actively engaged in the rideshare service, though no passenger is in the vehicle yet.
3. Phase 3 (Passenger in Vehicle): This phase covers the period when the passenger is in the vehicle and the driver is transporting them to their destination. It continues until the passenger exits the vehicle and the ride is marked as complete in the app.

Auto Coverage Requirements For Each Phase

Florida has specific insurance requirements for rideshare drivers that align with these phases to ensure adequate coverage throughout the rideshare journey. Here’s a breakdown of the coverage needed for each phase:

1. Phase 1 (App On, No Ride Accepted):

• Liability Coverage: During this phase, drivers are typically covered by limited liability insurance provided by the rideshare company. In Florida, this includes:
  • $50,000 for bodily injury per person
  • $100,000 for bodily injury per accident
  • $25,000 for property damage per accident
• Personal auto insurance policies often exclude coverage during this phase, which is why the rideshare company’s insurance is essential.

1. Phase 2 (Ride Accepted, En Route):

• Primary Auto Liability Coverage: This is provided by the rideshare company and generally includes:
  • $1,000,000 for third-party liability
• Contingent Collision and Comprehensive Coverage: These coverages kick in if the driver has similar coverage on their personal auto policy. The deductible for this coverage can vary; for example, Lyft’s deductible is typically $2,500, while Uber’s is $1,000.

1. Phase 3 (Passenger in Vehicle):

• The insurance coverage during this phase is similar to Phase 2, with primary auto liability coverage up to $1,000,000.
• Uninsured/Underinsured Motorist Coverage: This is also often included to protect the driver and passenger(s) in case of an accident with an uninsured or underinsured driver.

Uber And Lyft Requirements In Florida

Driving for Uber or Lyft in Florida involves meeting specific vehicle and driver requirements to ensure safety and reliability. Below, we detail the distinct car and driver requirements for both Uber and Lyft.

Rideshare Car Requirements

Uber Car Requirements

To drive for Uber in Florida, your vehicle must meet the following criteria:

1. Age and Model: The car must be a 15-year-old model or newer.
2. Type: The vehicle must be a 4-door car, truck, or minivan.
3. Condition: The vehicle should be in good condition, without cosmetic damage, and must pass an annual vehicle inspection.
4. Registration and Insurance: The car must have valid registration and insurance under the driver’s name.
5. Additional Requirements: No marked, taxi, or salvaged vehicles are allowed. Specific models may be required for premium services like Uber Black.

Lyft Car Requirements

For Lyft, the vehicle requirements in Florida are slightly different:

1. Age and Model: The vehicle must be a 2008 model or newer.
2. Type: The car must have four doors and at least five seatbelts.
3. Condition: The vehicle should be in good working order, with no visible damage, and must pass a 19-point inspection.
4. Registration and Insurance: The vehicle must have valid registration and insurance, and the driver’s name must be on the insurance policy.
5. Additional Requirements: Vehicles used for Lyft Lux services must be luxury models and meet specific age and interior condition criteria.

Rideshare Driver Requirements

Uber Driver Requirements

To qualify as an Uber driver in Florida, you must meet the following conditions:

1. Age: You must be at least 21 years old.
2. Experience: You must have at least one year of licensed driving experience in the U.S. (three years if under 23 years old).
3. Driver’s License: You must have a valid U.S. driver’s license.
4. Background Check: You must pass a background check, which includes a review of your driving record and criminal history.
5. Documentation: Provide proof of residency in your city, state, or province. Additional documents may be required based on your location.

Lyft Driver Requirements

To drive for Lyft in Florida, you must meet the following requirements:

1. Age: You must be at least 25 years old.
2. Experience: You need at least one year of driving experience with a valid driver’s license.
3. Driver’s License: You must hold a valid U.S. driver’s license.
4. Background Check: You must pass a criminal background check and a driving record check.
5. Documentation: You must provide proof of insurance and registration, along with a valid driver’s license and vehicle inspection report.

Both Uber and Lyft require drivers to maintain a clean driving record and criminal background to ensure the safety of passengers. Additionally, meeting these requirements can sometimes involve further regulations, so it’s essential to check local guidelines as well.

How Much Does Rideshare Insurance Cost In Florida?

Rideshare insurance is a significant consideration for drivers working with companies like Uber and Lyft. It bridges the gap between personal auto insurance and the coverage provided by rideshare companies. The cost of rideshare insurance in Florida varies depending on the provider, your driving history, the type of vehicle you drive, and other factors.

Below is a table showing the average cost of rideshare insurance from five different providers in Florida.

Types Of Rideshare Coverage

Rideshare insurance provides various coverage options to protect drivers, passengers, and vehicles during different phases of rideshare operation. These coverage types address the unique risks associated with rideshare driving, filling gaps left by personal auto insurance and the limited coverage provided by rideshare companies. Below are the different types of rideshare coverage available to drivers in Florida.

Liability Coverage

Liability coverage is essential for rideshare drivers as it covers bodily injury and property damage caused to third parties in an accident. This type of coverage is usually required by law and is crucial for protecting drivers from significant financial liabilities.

Collision Coverage

Collision coverage pays for damages to your vehicle resulting from a collision, regardless of who is at fault. This type of coverage is particularly important for rideshare drivers, as they spend more time on the road and are therefore at higher risk for accidents.

Comprehensive Coverage

Comprehensive coverage protects your vehicle against non-collision-related damages, such as theft, vandalism, fire, and natural disasters. For rideshare drivers, this coverage provides peace of mind, knowing that their vehicle is protected against a wide range of potential hazards.

Uninsured/Underinsured Motorist Coverage

Uninsured/underinsured motorist coverage comes into play if you are involved in an accident with a driver who has insufficient or no insurance. This type of coverage ensures that your medical expenses and vehicle repairs are covered, even if the other driver cannot pay.

Medical Payments Coverage

Medical payments coverage, also known as MedPay, covers medical expenses for you and your passengers in the event of an accident, regardless of who is at fault. This coverage is crucial for rideshare drivers who regularly have passengers in their vehicles and want to ensure their safety and financial protection.

Gap Coverage

Gap coverage is an optional insurance add-on that covers the difference between the actual cash value of your vehicle and the balance still owed on your car loan or lease in the event of a total loss. This type of coverage is beneficial for rideshare drivers who have financed or leased their vehicles and want to avoid financial strain in case of a major accident.

Contingent Liability Coverage

Contingent liability coverage activates when the rideshare app is on, but no ride has been accepted. It provides limited liability protection during this period, filling the gap between personal auto insurance and the rideshare company’s coverage.

Personal Injury Protection (PIP)

Personal Injury Protection (PIP) covers medical expenses, lost wages, and other related costs for you and your passengers, regardless of fault. PIP is especially useful for rideshare drivers as it ensures comprehensive coverage for personal injuries sustained in an accident.