Authored By: Amanda Unterreiner
In the relatively new ride share industry, it can be hard to know who pays in an Uber accident. Before getting into an Uber or Lyft, it is important to know what insurance these companies hold.
According to PersonalInjury.com, here are the types of insurance that you could be covered by if you are in an Uber or Lyft accident.
As a passenger riding in an Uber, this is considered commercial purpose, so your personal auto insurance policy most likely will not cover you. If you are the driver in an Uber accident, it is more likely that you are covered.
Rideshare companies such as Lyft and Uber are relatively unregulated since they are a relatively new form of transportation. Insurance laws differ in every state, but Uber does provide insurance that meets every state’s criteria. This includes: $1 million in primary coverage covering passenger injuries; $1 million in uninsured and underinsured motorist coverage; collision insurance covering damage to the driver’s car with a $1,000 deductible; limited injury coverage between trips, limited to $50,000 per person, $100,000 per accident, and $25,000 for property damage. Any rides from UberBLACK, UberSUV, and UberTAXI are covered by commercial insurance policies.
“Period 1” accidents are those that take place while an Uber driver’s app is on, but they are between rides. Period 1 accidents are not covered by Uber’s insurance or by most personal insurance policies.
For more information, check out this article written by PersonalInjury.com.
Photo Credit: Cathy Yeulet