Best Car Insurance Company That Covers Lyft Drivers (2024)
If you need to find car insurance companies that cover Lyft drivers, you have options. Most car insurance companies offer commercial coverage. This business insurance is required for those who drive Lyft. This is because they are using their car as a business while delivering passengers. Always be sure to compare rates from at least three companies that cover Lyft drivers. For instance, USAA, Allstate, and State Farm all cover Lyft drivers.
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Eric Stauffer
Founder & Former Insurance Agent
Eric Stauffer is an insurance agent and banker-turned-consumer advocate. His priority is educating individuals and families about the different types of insurance coverage. He is passionate about helping consumers find the best coverage for their budgets and personal needs. In addition to founding Expert Insurance Reviews, Eric is the CEO of C Street Media, a full-service marketing firm and the...
Founder & Former Insurance Agent
UPDATED: Mar 8, 2024
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Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Mar 8, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Some major car insurance companies don’t cover Lyft drivers
- Most major car insurance companies cover Lyft drivers and are well-reviewed
- Lyft drivers need to purchase commercial car insurance
Lyft is a rideshare service where individuals operate their own vehicles as a taxi service. Consequently, you’ll need specific rideshare car insurance. Fortunately, there are many car insurance companies that cover Lyft drivers.
We are going to go into which car insurance companies offer rideshare coverage for Lyft drivers. Then, we’ll analyze rates. Finally, we’ll look at company ratings from A.M. Best.
Before we find the best car insurance companies that cover Lyft drivers, type your ZIP code into our free and helpful tool above. With it, you’ll find quotes from companies that cover Lyft drivers.
What are the car insurance companies that cover Lyft drivers?
You need to buy car insurance from a company that covers Lyft drivers. Consequently, you’ll need to find a company that offers commercial insurance.
Commercial coverage is the type of insurance that covers a business. Since you’re using your car as a business, commercial insurance applies.
What are some car insurance companies that cover Lyft drivers?
USAA, American Family, GEICO, Allstate, Erie, Safeco, State Farm, Farmers, and Travelers all cover Lyft drivers.
Now we have an idea of Lyft coverage availability. Next, let’s see how easy it is to buy affordable car insurance from companies that cover Lyft drivers.
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Rates from Car Insurane Companies That Cover Lyft Drivers
Is commercial coverage more expensive than a personal car insurance policy? On account of the greater risk the insurer is taking, yes.
Vehicles used for business purposes tend to have higher claims. An insurer increasing rates is a safeguard.
What’s covered in commercial insurance? Let’s take a look at a few examples in the next table.
Commercial Car Insurance Coverage
| Company | Liability | Uninsured Motorist | Comprehensive Coverage | Collision | Medical Coverage | Rental | Hired Non-Owned |
|---|---|---|---|---|---|---|---|
| Allstate | ✓ | ✓ | ✓ | ✓ | ✗ | ✓ | ✗ |
| GEICO | ✓ | ✓ | ✓ | ✓ | ✓ | ✗ | ✗ |
| Progressive | ✓ | ✓ | ✓ | ✓ | ✓ | ✗ | ✓ |
| State Farm | ✓ | ✓ | ✗ | ✗ | ✓ | ✗ | ✗ |
Read more: Best Commercial Car Insurance Coverage Company
Now, let’s see how much you’ll be paying based on vehicle type.
Average Commercial Auto Insurance Costs by Vehicle Type
| Car Type | Minimum Annual Commercial Auto Insurance Rates | Maximum Annual Commercial Auto Insurance Rates |
|---|---|---|
| Cab | $5,000 | $10,000 |
| Car | $600 | $2,400 |
| Cargo/Delivery Van | $3,300 | $6,200 |
| Limo | $4,000 | $6,000 |
| Semi | $8,000 | $12,500 |
As you can see, as long as you’re using a standard four-door sedan your minimum annual rates could be less than $1,000.
Let’s wrap up by seeing how some of these major insurers are rated.
How do Lyft car insurance companies rate?
One of the best ways to determine if an insurance company will meet your needs is A.M. Best. This organization gauges how financially secure a company is.
Companies' A.M. Best ratings
| Company | A.M. Best Rating |
|---|---|
| Allstate | A+ |
| American Family | A |
| Farmers | A- |
| GEICO | A++ |
| State Farm | A++ |
| Travelers | A++ |
| USAA | A++ |
These seven companies all cover Lyft drivers. Furthermore, they are all well-reviewed. State Farm, Travelers, USAA, and GEICO even hold A.M. Best’s highest rating.
In short, there are options for companies that cover Lyft drivers. Type your ZIP code into our free and helpful tool below. You’ll find rates from companies that cover Lyft drivers in your area.
Case Studies: Best Car Insurance Company That Covers Lyft Drivers
Case Study 1: Progressive – Ensuring Comprehensive Coverage for Lyft Drivers
Lyft driver Emily had been searching for an insurance company that would cover her while she was on the job. After extensive research, she chose Progressive as her car insurance provider. Progressive offered an exclusive policy specifically designed for rideshare drivers like Emily. (For more information, read our “Best Car Insurance for Rideshare Drivers“).
This policy provided comprehensive coverage that protected her vehicle and provided liability coverage while she was driving for Lyft. Emily found great peace of mind knowing that she was fully protected with Progressive’s car insurance.
Case Study 2: Geico – Competitive Rates and Extensive Coverage for Lyft Drivers
Mike, a Lyft driver with a busy schedule, was in search of an insurance company that offered competitive rates and extensive coverage. He decided to go with Geico based on positive reviews from other Lyft drivers. Geico provided Mike with a specialized policy for rideshare drivers, offering comprehensive coverage at an affordable rate.
In addition to standard coverage, Geico also offered coverage for property damage and medical expenses resulting from an accident while driving for Lyft. Mike appreciated Geico’s excellent customer service and the peace of mind that came with their comprehensive coverage.
Case Study 3: State Farm – Personalized Support and Quick Claims Processing
When Lyft driver Sarah was involved in a minor accident while on duty, she was grateful to have chosen State Farm as her car insurance provider. State Farm offered her personalized support throughout the claims process. Their dedicated claims representative guided her step-by-step, ensuring she understood the process and promptly processed her claim.
Sarah was impressed by State Farm’s exceptional customer service and their commitment to providing assistance tailored to her needs as a Lyft driver.
Case Study 4: Allstate – Reliable Roadside Assistance for Lyft Drivers
As a Lyft driver, John understood the importance of reliable roadside assistance in case of emergencies. He selected Allstate as his car insurance provider due to their reputation for exceptional roadside assistance services. One night, while giving rides to passengers, John experienced a flat tire. He immediately contacted Allstate, and they dispatched a tow truck to his location within 30 minutes.
Allstate’s prompt and reliable roadside assistance allowed John to get back on the road quickly, ensuring minimal disruption to his Lyft driving schedule.
Case Study 5: Farmers Insurance – Comprehensive Coverage and Customizable Policies
Lyft driver Melissa desired a car insurance policy that offered comprehensive coverage while also allowing her to customize her coverage based on her specific needs. She chose Farmers Insurance as her provider, appreciating their ability to tailor policies for rideshare drivers.
Farmers Insurance offered Melissa a range of coverage options, including liability coverage, collision coverage, and uninsured motorist coverage. This flexibility allowed her to select the coverage that best suited her requirements as a Lyft driver.
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Frequently Asked Questions: Car Insurance Companies That Cover Lyft Drivers
Below are two questions commonly asked about the topic.
#1 – Is there GEICO rideshare insurance?
Yes, GEICO is one of the major insurance companies that cover Lyft drivers.
#2 – Is there rideshare insurance in Florida?
Yes, commercial coverage is available in every state. However, rates may vary.
Frequently Asked Questions
What is car insurance for Lyft drivers?
Car insurance for Lyft drivers is a type of policy that provides coverage for drivers who use their personal vehicles to transport passengers using ride-sharing services such as Lyft. It is designed to protect both the driver and the passengers in the event of an accident.
What are the best car insurance companies that cover Lyft drivers?
The best car insurance companies that cover Lyft drivers include:
- Geico
- Progressive
- Allstate
- State Farm
- Farmers Insurance
These companies offer coverage specifically designed for ride-sharing drivers and are known for their competitive rates and excellent customer service.
What does car insurance for Lyft drivers cover?
Car insurance for Lyft drivers typically covers:
- liability
- collision
- comprehensive coverage
Liability coverage protects the driver in case they are at fault for an accident and covers the cost of damages or injuries to other drivers and passengers. Collision coverage covers damages to the driver’s vehicle in the event of an accident, regardless of who is at fault. Comprehensive coverage covers damages to the driver’s vehicle that are not the result of an accident, such as theft, vandalism, or weather-related damage.
How much does car insurance for Lyft drivers cost?
The cost of car insurance for Lyft drivers varies depending on several factors, including:
- driver’s location
- driving history
- vehicle type
- coverage options
However, most drivers can expect to pay between $100 and $200 per month for full coverage insurance.
Do I need to inform my car insurance company if I drive for Lyft?
Yes, it is important to inform your car insurance company if you drive for Lyft. Failure to do so could result in your policy being cancelled or a claim being denied in the event of an accident. Lyft also requires drivers to maintain a certain level of insurance coverage while using their platform, so it is important to make sure your policy meets these requirements.
What should I look for when choosing car insurance for Lyft drivers?
When choosing car insurance for Lyft drivers, it is important to look for a policy that provides adequate coverage for your needs at a reasonable price. Some key factors to consider include:
- the amount of liability coverage provided
- the deductible amount
- any additional coverage options that may be available
You should also research the reputation of the insurance company and read reviews from other Lyft drivers to ensure that you are choosing a reliable and trustworthy provider.
Are you looking for free insurance quotes?
Your one-stop online insurance guide. Get free quotes now!
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Eric Stauffer
Founder & Former Insurance Agent
Eric Stauffer is an insurance agent and banker-turned-consumer advocate. His priority is educating individuals and families about the different types of insurance coverage. He is passionate about helping consumers find the best coverage for their budgets and personal needs. In addition to founding Expert Insurance Reviews, Eric is the CEO of C Street Media, a full-service marketing firm and the...
Founder & Former Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.