Contracting to drive with a rideshare company is a convenient way for you to earn extra money on your own time. However, there are certain risks associated with using your car to drive paying customers to their destinations.
One risk is getting into an accident. If a passenger is injured in your vehicle, you could be held financially responsible for the accident. Here’s why you should have rideshare insurance in Chicago.
Getting sued by a passenger can cause financial devastation
If you’re like many people who drive for rideshare services, you are doing it to make additional money to pay bills. Think about this question for a moment. If you get sued by a passenger, will you have enough money to cover the costs without insurance?
Rideshare insurance offers an added protection in case you need it. The best thing you can do is be prepared for any situation that will arise while you’re transporting riders.
Your personal insurance won’t cover you for accidents while you’re operating a rideshare service
Personal insurance will cover your passengers on personal trips. However, the coverage doesn’t include transporting rideshare passengers. While it’s true that rideshare services provide insurance, the coverage is limited to certain periods and amounts. Before you sign up to transport rideshare passengers, get the insurance coverage that you need.
The rideshare company offers high deductibles for their insurance policies
In some instances, major rideshare companies have policies with insurance deductibles that are as high as $2,500. As a rideshare driver, this means that you’ll be responsible for paying the first $2,500 of the costs for the accident. If you don’t have the money, it can be challenging.
Need rideshare insurance in Chicago? Contact Accurate Auto Insurance for a quote.
