Rideshare Insurance: Las Vegas Auto Insurers Offering Coverage

If you're a rideshare driver in Las Vegas, Nevada, you need to know about rideshare insurance. Your personal auto insurance policy doesn't cover you when you're working for a rideshare company like Uber or Lyft. These companies' commercial liability coverage only applies once you accept a ride request. To avoid a gap in coverage, you can extend your personal auto insurance with rideshare insurance. This insurance covers you during the period when you're logged in and waiting to be matched with a rider. In Nevada, rideshare insurance costs $59 to $253 per month, depending on the company and level of coverage. State Farm, GEICO, and USAA are among the best insurers for rideshare insurance in the state.

Nevada rideshare insurance requirements

If you're a rideshare driver in Nevada, you need to be aware of the state's insurance requirements. Here's a detailed overview:

Firstly, all drivers in Nevada, including rideshare drivers, must carry car insurance that meets the state's minimum requirements:

• $25,000 in bodily injury liability coverage per person
• $50,000 in bodily injury liability coverage per accident
• $20,000 in property damage liability

If you're driving for a Transportation Network Company (TNC) like Uber or Lyft, you'll also need rideshare insurance, which is an endorsement you can add to your personal car insurance policy. This is a requirement by Nevada law.

Rideshare Insurance Coverage Periods:

Rideshare insurance coverage typically consists of four periods:

• Period 0: Personal Use. Your personal car insurance policy covers you.
• Period 1: Waiting for a Ride Request. Your personal insurance policy may not cover you during this period, and the TNC's commercial policy might not apply yet. This is where rideshare insurance comes into play, filling the gap in coverage.
• Period 2: Driving to Pick Up a Passenger. Once you accept a ride request, you need at least $1.5 million per accident in liability coverage. TNCs usually provide this coverage, but you can also get it through your rideshare endorsement.
• Period 3: Driving the Passenger to Their Destination. The coverage requirements are the same as Period 2, and TNCs are required by Nevada law to maintain backup coverage during this phase.

Types of Rideshare Insurance Coverage:

When considering rideshare insurance, there are different types of coverage to choose from:

• Liability Coverage: This covers the other party's injuries and property damage if you cause an accident.
• Uninsured/Underinsured Motorist Coverage: This protects you if the other driver doesn't have insurance or doesn't have enough coverage.
• Collision and Comprehensive Coverage: Collision coverage pays for repairs to your car, regardless of who's at fault. Comprehensive coverage is for non-collision incidents like theft or vandalism.

Purchasing Rideshare Insurance in Nevada:

To purchase rideshare insurance in Nevada, follow these steps:

• Contact your car insurance company and inquire about a rideshare endorsement. Understand the coverage limits, costs, and any available discounts.
• Get quotes from other insurers to compare rates and find the best coverage for your needs.
• Sign up for the coverage that suits your requirements and budget.

Remember, rideshare insurance is essential for complying with Nevada's legal requirements and ensuring you have adequate protection while driving for rideshare companies.

Rideshare insurance costs

Rideshare insurance is a type of commercial auto insurance that fills the gap between your personal auto insurance and the commercial auto insurance provided by your rideshare employer. It is not required by law, but it is necessary to protect yourself from unforeseen events while working for a transportation network company (TNC). The cost of rideshare insurance varies depending on the company and the level of coverage you choose.

In Nevada, rideshare insurance costs on average $365 per month. However, it can range from $59 to $253 per month, depending on the insurance company and the coverage level. For example, GEICO's average rate for rideshare drivers in Nevada is $157 per month, while State Farm's average rate is $131 per month.

Rideshare insurance is typically offered as an add-on to an existing personal car insurance policy. It is important to note that you cannot buy a rideshare insurance policy from a company that does not handle your personal auto insurance. Some companies that offer rideshare insurance in Nevada include State Farm, GEICO, and USAA.

Rideshare insurance covers the periods when you are logged into the rideshare app and waiting to be matched with a rider. During this time, the rideshare company's limited liability coverage may not apply, leaving a gap in your insurance coverage. Rideshare insurance fills this gap and provides protection for your vehicle and any medical expenses incurred during this period.

How to buy rideshare insurance in Nevada

Rideshare insurance is a necessity for anyone driving for a rideshare company in Nevada. It fills the gaps in coverage when you're not covered by the rideshare company's commercial policy or your personal auto insurance policy. Here's a step-by-step guide on how to buy rideshare insurance in Nevada:

• Contact Your Insurer: Get in touch with your car insurance company and inform them that you'll be driving for a rideshare company. Ask if they offer a rideshare endorsement and what the coverage limits and costs are. Understand when your rideshare insurance will apply and when your regular policy covers you.
• Shop Around: If your current insurer doesn't offer rideshare insurance or if you're not satisfied with their offerings, it's time to explore other options. Compare quotes and coverage details from multiple insurance providers. Even if you're not doing rideshare driving, it's a good idea to get quotes from different insurers to find the best deal.
• Sign Up for Coverage: Once you've found a suitable rideshare insurance policy that meets your needs and budget, it's time to sign up. Make sure you fully understand the coverage provided by both your rideshare insurance and your TNC (Transportation Network Company).

It's important to note that rideshare insurance is typically not available as a stand-alone policy. Instead, it's added to your existing personal car insurance. Remember that you usually need to have your personal auto and rideshare insurance with the same insurer.

Some reputable companies offering rideshare insurance in Nevada include State Farm, GEICO, Allstate, and USAA. These companies can guide you through the process of adding rideshare coverage to your existing policy.

What happens if you get into an accident without rideshare insurance?

If you get into an accident while driving for a rideshare company without the proper insurance, you could be held responsible for several costs.

In the US, rideshare drivers are required by law to have a certain level of liability insurance coverage. This is because ridesharing is considered a "business use" of your vehicle, which is typically excluded from personal insurance policies. If you have a standard car insurance policy and are driving for a rideshare company, your insurer is still legally required to cover any liability claims up to the state's minimum liability limits.

However, if you have not disclosed to your insurance company that you are a rideshare driver, they may deny any liability claims that exceed these minimums. This could leave you responsible for paying any excess costs, including medical bills, repairs, and legal fees, out of your own pocket.

Furthermore, during the period when you are logged into the rideshare app and waiting to be matched with a rider, there is often a gap in insurance coverage. The rideshare company's policy may only provide limited liability coverage during this time, and your personal policy will not cover you. If you are in an accident during this period without rideshare insurance, you could be faced with significant out-of-pocket expenses.

To avoid these risks, it is important to disclose your rideshare activities to your insurance company and consider purchasing a rideshare insurance policy or endorsement that fills in the gaps in coverage. This will ensure that you are protected in the event of an accident while driving for a rideshare company.

How does a rideshare insurance claim work?

If you're a rideshare driver, it's important to understand the different "periods" or "phases" recognised by rideshare companies like Uber and Lyft. This will help you understand when you're covered by your personal insurance policy, the rideshare company's insurance policy, or your own rideshare insurance policy. Here's how a rideshare insurance claim works:

Period 0/Phase 1: Personal Use of Vehicle/Offline

During this period, the rideshare app is inactive, and the vehicle is used for personal use only. Your personal insurance policy is the only policy in effect. If you have a rideshare insurance policy, it typically doesn't extend coverage during this period.

Period 1/Phase 1: Logon to App/Waiting for a Ride Request

In this period, the rideshare app is active, and you are waiting to be paired with a passenger. Your personal insurance policy typically doesn't cover you during this period as it excludes "business use" activities. The rideshare company provides limited coverage for bodily injury and property damage, but this may not include damage to your vehicle. This is where a rideshare insurance policy comes into play, filling in the coverage gap.

Period 2/Phase 2: Accept Ride/On the Way to Pick Up Passenger

Once you accept a ride request and are on your way to pick up the passenger, you enter Period 2. The rideshare company's auto insurance is typically in force during this period. Some personal rideshare insurance policies may also extend coverage. The rideshare company provides liability and uninsured motorist coverage, as well as comprehensive and collision coverage.

Period 3/Phase 3: Pickup Ride/Passenger Onboard

In this final period, the passenger is onboard, and you are en route to their destination. The coverage requirements are the same as in Period 2. The rideshare company's full commercial liability coverage applies until the ride exits your car. At this point, you return to Period 1 and the process repeats.

When making a rideshare insurance claim, it's important to know which period or phase you were in when the incident occurred. This will help you determine which insurance policy was in effect and who you need to contact to initiate the claims process.

Frequently asked questions