While Uber and Lyft provide basic auto insurance during rides, drivers also need their own coverage to protect beyond the limits of these policies. The typical driver in the United States paid $1,426 per year for auto insurance in 2018. This average includes all drivers across the country, which takes into account low-cost and high-cost states.
Uber and Lyft drivers can pay from $6 to $20 per month extra for rideshare auto insurance. A rideshare insurance policy is an add-on policy that provides extra coverage for a driver when they don’t have a ride or when they are on the way to pick up a rider. These policies are optional but helpful in protecting against significant expenses accrued following accidents.
Drivers with Uber and Lyft can also opt for commercial auto insurance. A commercial auto insurance plan provides coverage for a driver as long as they are driving for work. The typical premium per vehicle for a commercial plan ranges from $750 to $1,200.