Best Rideshare Insurance in Nevada: Quotes, Discounts 2022

Rideshare Insurance in Nevada

With the immense popularity of rideshare apps like Uber and Lyft, many drivers aren’t using their cars just to get from point A to point B. Now, a car is a place of business for thousands of drivers who pick up and drop off passengers for rideshare services. But many of Nevada ’s drivers are left wondering: How can I be certain I’m covered when I’m driving for Uber or Lyft?

Enter rideshare insurance, a useful form of coverage for rideshare drivers who want to stay protected on the roads. If you’re looking for rideshare coverage that will give you the peace of mind you need while you’re hard at work, Insurify should be the first place you look. Just enter some information about your driving history, and you’ll be able to access dozens of rideshare insurance quotes.

Rideshare Insurance Companies in Nevada

With ridesharing only getting more popular, it’s worth looking into a rideshare insurance policy that won’t break the bank. Below are a few of the most affordable rideshare insurance carriers in Nevada:

As you can see, small regional carriers take the cake when it comes to cheap rideshare insurance. West Coast-based carrier Sun Coast is a standout, offering an average cost of just $143 per month. Larger insurance companies like Mercury, Travelers, and Liberty Mutual also offer great deals for motorists working for ridesharing companies.

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How Rideshare Insurance Works

First, the bad news: your personal insurance coverage won’t always cover you as you drive for Uber, Lyft, or other rideshare services. The good news? Many major car insurance companies now offer rideshare insurance, a key bit of coverage that fills in the gaps between your personal policy and your company’s commercial policy.

While Uber or Lyft ’s commercial coverage will kick in when you’re driving a passenger around, rideshare coverage kicks in during those moments when you’re between trips.

In general, Uber and Lyft don’t offer robust car insurance while you’re on the road. To make their limited coverage options easier to understand, rideshare drivers can segment their time behind the wheel into four different periods. Here’s how they work:

• Period 0: This period refers to moments when your rideshare app is turned off and you are considered offline. In this instance, your personal policy covers you, as you are driving for personal use rather than for business.

• Period 1: This period is in effect when your app is turned on and you’re waiting for a ride request. This is a time when having rideshare insurance might come in handy, as your personal auto insurance policy may not be robust enough to cover you if an accident happens during period 1.

• Period 2: After you’ve accepted a request and are on your way to pick up a passenger, you’ve entered period 2. Your rideshare company’s commercial insurance goes into effect during this time frame.

• Period 3: This period refers to when you have a rider in the car and are driving them to their destination. Again, your rideshare commercial insurance is in effect during this segment.

So, as you can see, in the span of one afternoon driving for Uber, your level of coverage can fluctuate wildly. Luckily, rideshare insurance fills in those gaps so that you’re covered even during those times between trips.

Keep in mind that driving for a delivery app can be a slightly different story. For instance, only some delivery apps offer coverage in period 2, when you’re on your way to pick up food from a restaurant or grocery store for delivery. When you sign up to work for one of these apps, try to read their policy carefully so you know when you’re covered and when you aren’t.

How much does rideshare coverage cost?

Like any other car insurance policy, the price of rideshare coverage will vary. Some insurers claim your existing premiums will go up about 15 percent. This could be added on to your existing policy, or you might need to buy a new policy that is a bit more expensive. Nevada is a state that generally has affordable car insurance rates, so you may find a budget-friendly option.

That said, a visit to Insurify can help you find the best deal on rideshare insurance. With a wealth of proprietary data, Insurify is the best site for accurate car insurance quotes delivered in real time. No more hopping from site to site trying to keep track of the best deal. With Insurify, all the key information you need is in one place.

See More: Best Car Companies for Rideshare Drivers

Nevada Laws on Rideshare Insurance Requirements

As you can see, the way insurance coverage applies to rideshare drivers is a bit complicated. To make things even more complex, the laws and standards surrounding rideshare insurance vary on a state-by-state basis. These are some of the laws and requirements you should be aware of if you’re driving for a rideshare company in Nevada.

• In Nevada, rideshare companies must provide drivers with liability coverage of at least $1.5 million during periods 2 and 3. This means that if you get in a crash while a passenger is in your car, you’ll be covered for bodily injury, death, and property damage costs up to that amount.

• You still might not be fully covered during periods 2 and 3. Even though rideshare companies offer ample liability insurance, you still might want certain add-on coverages like uninsured motorist coverage, collision coverage, or medical payments coverage. This will increase your insurance premium but could be worth it in the event of an accident.

• In period 1, drivers must meet certain coverage limits. When you’re simply logged into the app and waiting for a request, your required coverage limits in Nevada are $50,000 per person and $100,000 per collision. Rideshare insurance is designed to meet these limits.

• Even if Uber or Lyft insurance is in effect, you will still have to pay your deductible. As of 2021, the deductible for Uber and Lyft is $2,500. Some companies, like Progressive, will reimburse you for the difference between your ridesharing company ‘s insurance deductible and your personal policy deductible.

The Nevada Department of Insurance also encourages rideshare drivers to disclose their rideshare activities to their insurance company. Your provider will want to know you’re driving for a rideshare company given the risks that come with this work—and the fact that you’ll likely be on the road more often if you take on such a job.

If you don’t disclose this information, many auto insurance companies will refuse to cover claims in the event of an accident. Making sure your insurance company is fully aware of this rideshare activity is the best way to make sure there are no big surprises when it comes to coverage as an Uber or Lyft driver.

See More: Cheap Car Insurance in Nevada

Nevada Requirements for Rideshare Drivers

Nevada defines companies like Uber or Lyft as “ transportation network companies ” ( TNCs ), which is a fancy term for companies where an online network is used to connect drivers with passengers. Because most drivers use their personal car to pick up and drop off passengers, it’s important to understand what’s required of you from an insurance standpoint.

In Nevada, all drivers are required to carry a minimum of $15,000 per person in bodily injury, $30,000 per accident in personal injury, and $10,000 per accident for property damage. Rideshare drivers are required to have higher coverage limits, as the cost of medical expenses if you get in a crash en route to a customer could far exceed $15,000 per person.

Nevada is an at-fault state, even if the accident occurs while driving for a rideshare company. That means that when you get in an accident, the driver who is determined to have caused the accident will cover costs with their auto insurance coverage.

The bottom line is you’ll want to disclose all TNC activities to your insurance provider. If you’re signing up to be an Uber driver, insurance providers will want to know you’re taking on this additional risk. It’s within their rights to cancel your policy if you don’t disclose this, as driving for Uber or Lyft may be a violation of the original policy agreement.

Filing a Claim after an Accident As a Rideshare Driver in Nevada

If you get in an accident as a rideshare driver, there are a few things to keep in mind. For instance, if this accident happened after a ride request while you’re en route to pick up a passenger (period 2), your personal coverage comes into play first. If the costs exceed your policy limits, some rideshare companies offer gap coverage to help you out in this scenario.

If the accident happens while a passenger is in your vehicle (period 3), the rideshare company ’s commercial policy will be used. It still might be a good idea to reach out to your insurer in case you need to use another part of your policy, such as collision coverage.

Find Cheap Rideshare Insurance in Minutes

Whether you’re driving for Uber, Lyft, or another of the many popular rideshare services out there, it’s so important to have robust rideshare insurance coverage. If you’re looking for an affordable policy that meets your unique needs as a rideshare driver, browse Insurify. There you can compare quotes from a wide range of insurers and find the right policy for you.

Frequently Asked Questions