Rideshare Insurance for Uber- Risks

Thenarrator on 01/11/2024 - 17:21
Last edited 01/11/2024 - 20:00 by 1 other user

We all understand if you're doing uber, you need to tell your insurance company that you're doing ridesharing and they'll update your policy to include that and if you don't tell your insurance company, any claims will be void.

Is it only void when you make a claim during the ridesharing service? If you do ridesharing Monday, Tuesday and personal Wednesday, Thursday, and Friday. If you got into an accident on Friday and you don't tell your insurance company about your ridesharing, are you still covered?

Need to understand risks and what you're paying to the insurance companies.

This is a question of understanding what are the risks. Whether to take the risk or not is a separate question and isn't being asked here.

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  sam-1966 on 01/11/2024 - 17:29

  +8

  I wouldn't want to take the chance - insurance companies always seem to win.

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  El cheepo on 01/11/2024 - 18:02

  +4

  1) read your insurance policy PDS.

  If that is not clear then:

  2) ring and ask your insurance company.

  But i’m assuming you don’t want to do that because you plan on not telling them about the possible ride share side hustle and hoping for the best.

  You know that its a requirement, you know the risks.
  you can safely assume its a no cover situation and make your mind up accordingly.

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    Euphemistic on 01/11/2024 - 18:14

    read your insurance policy PDS.

    This.

    One insurer may not be the same as another.

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  freefall101 on 01/11/2024 - 18:11

  So your plan is to be entirely uninsured while you're driving around for Uber while you have a passenger in the car whose medical costs you'll get to pay for in an accident, while also risking your insurance in general?

  Go get a part time job in hospitality/fast food if funds are that tight that you can't afford insurance while driving an uber.

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    Thenarrator on 01/11/2024 - 18:44

    +1

    CTP is compulsory and covers all people and medical costs. The insurance in question is damage to property

    • 

      freefall101 on 01/11/2024 - 18:52

      +2

      Ah yeah, NSW, sorry forgot about that.

      Just a reminder, you're legally required to have third party property insurance in NSW - https://help.uber.com/en-GB/driving-and-delivering/article/i…

      But seriously, don't do the dumb thing to save a few bucks, no matter how tough things are.

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  Euphemistic on 01/11/2024 - 18:17

  At face value, if your insurance covers you for what you are claiming, its all good. Just because you do something illegal once, shouldnt mean a legit claim is denied.

  However, why take the risk? One of the reasons the insurance co wannts to know if you drive ride ahare is becasue it is an increaesed riak to them. You are more likely to have an incident driving in traffic with unknown passengers and an unfamiliar rpute.

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    BewareOfThe Dog on 01/11/2024 - 23:28

    Rideshare and delivery drivers are on the road more than usual, and quite often during peak times. That is why the rates are higher. I bet insuring a taxi is more.
    Prior to being an uberslave, i was receiving medical care, as well as payments. These were stopped, as they blaming i had ptsd from an armed robbery 20+ years ago.

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    Thenarrator on 05/11/2024 - 09:22

    the problem is insurance is charging a flat rate for all uber driver regardless of their frequency of use. Someone driving as full time is as much as someone doing it once a week, essentially profiting over the latter. But thats going off topic slightly. If insurance doesnt price the distribution of risk, then its logical for the user to determine whether the risk is right for them and for the user to price the distribution of risk, they need to know exactly when and how does it become void.
    In insurance, theres no such thing as 'you must have insurance', its only 'is insurance worth your risk for your level of risk apetite'.

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      Euphemistic on 05/11/2024 - 11:17

      Interesting point. There may be a market for occasional uber driver insurance, but you can guarantee that ita going to open up a can of worms at claim time. Youll probably need to prove you dont drive more than X times per week. As you put it though, that oart of the risk appetite.

      I lowered my premium by nominating a lower number of days per week commuting. Fine most of the time as it encourages me to cycle to work, Over winter i found i exceeded that nomination. Not unwell enough to stay home, but riding a bike was out of the question, especially in the cold weather. Should i have told my insurer? Probably. Am i back to the nominated commute trips? Yes. Was it a risk? Yes.