Uber insurance question

[oldyoungguy]

I am thinking to become a Uber driver. Uber's insurance policy is this:

You're insured for liability to a third party if you're in a covered accident where you're at fault and you're online but haven't received a trip request yet. Coverage is at least $50,000 in injury liability per person, $100,000 in total liability per accident, and $25,000 in property damage liability per accident.

For the car damage part, it only covers $25k. If I cause an accident and damage an expensive car, saying need to total a $40k car, do I need to pay that excess portion, the $15k, by myself? If I am not able to pay that amount of money, what I should do and what other person should do?

 

[oldyoungguy]

My above post was wrong. That insurance policy is for the "Available or waiting for a ride request" case. I am more concerned about the driving stage. The driving stage's policy is like this:

En route to pick up riders and during trips
Uber maintains the following auto insurance on your behalf in case of a covered accident:

• $1,000,000 third-party liability
• Uninsured/underinsured motorist bodily injury and/or first-party injury insurance²
• Contingent comprehensive and collision³
  • Up to actual cash value of car with a $2,500 deductible

how to read the above policy? the $1M third-party liability coverage is enough if there is no serious personal injury?

 

[fed up]

The first thing you need to worry about is your own, regular, carrier. Many have an endorsement that covers the deductible on the Uber policy and it also let's them know that you are using your car as a taxi.
Is $1,000,000 enough liability? You have at least 1 passenger who could be injured and how ever many people in the soccer team van that you hit, or the carload of old people driving out of the airport, or to church. I know plenty of people who tried to side hussle with Uber and did not make much money.

 

[oldyoungguy]

Thank you for your reply and your insight.

I am a very careful driver. Most likely I will not be the faulty driver or I should not cause a very serious accident.

I will research this more.

I have been involved in an accident now which was caused by a left-turn Uber driver. I will start another thread to get ideas here. please help me there.

 

[adjusterjack]

I am a very careful driver. Most likely I will not be the faulty driver or I should not cause a very serious accident.

You are very naive if you believe that.

 

[Al3x Lee]

I am a very careful driver. Most likely I will not be the faulty driver or I should not cause a very serious accident.

You're driving along, you're driving along, and suddenly your Uber passenger is yelling from the back seat. "I gotta go to the bathroom!" "Not now, dammit!" Truck tire! I can't stop! There's a van! You hit it, sending it off a cliff and the family screams: "Oh my God, we're burning alive!" "No, I can't feel my leg!"

Here comes the meat wagon. And the medic gets out and says: "Oh, my God" New guy's in the corner, puking his guts out.

All because you wanna save a couple of extra pennies... To me it just seems like having your auto insurance set up for that scenario is the way to go

 

[Markthebroker]

I am a very careful driver. Most likely I will not be the faulty driver or I should not cause a very serious accident.

Famous last words, lolz.

 

[Allen Trent]

You're driving along, you're driving along, and suddenly your Uber passenger is yelling from the back seat. "I gotta go to the bathroom!" "Not now, dammit!" Truck tire! I can't stop! There's a van! You hit it, sending it off a cliff and the family screams: "Oh my God, we're burning alive!" "No, I can't feel my leg!"

Here comes the meat wagon. And the medic gets out and says: "Oh, my God" New guy's in the corner, puking his guts out.

All because you wanna save a couple of extra pennies... To me it just seems like having your auto insurance set up for that scenario is the way to go

I read this in Chris Farleys Tommy Boy Character voice.

 

[Al3x Lee]

I read this in Chris Farleys Tommy Boy Character voice.

One of the greatest movie scenes of all time

 

[tikibarrister]

My last Lyft driver drove a rental. Uber and Lyft have programs where you can rent a car (from one of the major rental companies through partnership they have) and drive that instead of your own. He said it was more cost-effective when you consider the added mileage on your car and insurance.

If I was going to gig drive, I'd look at that rather than use my own wheels.