Uber Drivers Forum banner
1 - 11 of 11 Posts

·
Registered
Joined
·
80 Posts
Discussion Starter · #1 ·
Hello Everyone -

I am venturing out into the Uber Driving world, have been doing it for about 2 months, thought I did my homework, found this website and now realize that I may have looked over a few things.

First - why do we need ride share insurance, I contacted my current agent and yes, I am not covered when doing ride share. I contacted Uber and they stated I was covered under their policy, isn't this enough?

I have made some mistakes in the beginning and continue to learn after reading this forum.
 

·
Registered
Joined
·
145 Posts
If you are in an accident and the rider is injured, they can sue you. Check out Erie Insirance. It is a little more but you will be covered. I checked this out 1 year ago and have never looked back. So MANY drivers think they are covered, but they need to really think about that. Uber drive for 13 months and 1,506 trips so far. Also, if you can tap into the weekly guarantees; even better. The last 2 weeks algae been very nice. Best of luck.
 

·
Registered
Joined
·
487 Posts
Uber ' s insurance also has a $1,000 deductible from time you get a ping till you drop pax off. But, while app is on and waiting for ping, Uber only covers some liability! No collision! Your insurance may drop as soon as you turn on the app. You need to check that.

Also Erie is a good one, at least here in Ohio. It covered everything and was about $10 more per month.
 

·
Registered
Joined
·
80 Posts
Discussion Starter · #4 ·
Uber ' s insurance also has a $1,000 deductible from time you get a ping till you drop pax off. But, while app is on and waiting for ping, Uber only covers some liability! No collision! Your insurance may drop as soon as you turn on the app. You need to check that.

Also Erie is a good one, at least here in Ohio. It covered everything and was about $10 more per month.
Thanks, will do.
 

·
Registered
Joined
·
80 Posts
Discussion Starter · #5 ·
If you are in an accident and the rider is injured, they can sue you. Check out Erie Insirance. It is a little more but you will be covered. I checked this out 1 year ago and have never looked back. So MANY drivers think they are covered, but they need to really think about that. Uber drive for 13 months and 1,506 trips so far. Also, if you can tap into the weekly guarantees; even better. The last 2 weeks algae been very nice. Best of luck.
Thanks for the info.
 

·
Registered
Joined
·
51 Posts
When I began pondering the Rideshare thing I did my homework. It did not take me long to realize from what I was reading in this forum and other sources on the internet that quite a lot of folks driving really had no idea if they were protected or not.
One thing I did before I ever picked up my first pax was walk into the office of a local accident and injury lawyer.
He asked me "What can I help you with?" I told him I was considering driving for UBER and what do I need to do to protect myself from you!
This question really got a good laugh from this particular lawyer, and then he told me that was the best question anyone has ever asked him....
And then he explained.....
"The only thing you can do to protect yourself from me is to have plenty of insurance."
"How Much?" I asked.
"How Much are you worth? he replied. "How much money would you get if you sold each and everything you own, How much money would an auctioneer come away with if after the auction you and all your dependents were standing naked in the street."
I thought about it a moment, came up with a number, just a guess but a number.
He then asked "Do you have another job besides UBER?" I said yes...
He then said add to that number 10 years wages to that........ That scared the hell out of me!

He said Everything you own plus 10 years wages is what I will go after if you are negligent.....
Unless you got a million dollars worth of business insurance because a judge will not take everything you own and 10 years of wages if you have business insurance.

He then explained to me further and it was quite detailed how lawsuits work.
I do not want to attempt to type out everything he said but he made it clear to me the following:

If you are sued the judge is going to look at a few things:
Were you negligent?
If so, was the action committed in malice or was it really an accident?
In other words, was the accident committed intentionally or out of stupidity? or was it really an accident beyond your control? wrong place wrong time situation... Did you accidentally turn the wrong way up a one way? or was you driving 90 in a 30 etc...
Another thing the judge is going to look at is your insurance and if you were responsible enough to take all the proper steps prior to the accident to protect your customers.
Are you prepared to injure or kill someone?
If your standing in front of a judge and he ask you why you don't have insurance for this you better have a good answer and "I was dumb" is not a good answer my friend!

I want the judge to know I did my homework and I prepared..... I have the insurance and I am taking responsibility!
I want the judge to know I have a MILLION BUCKS in reserve by way of MY OWN INSURANCE and I have ANOTHER MILLION BUCKS by way of an UMBRELLA POLICY that covers everything I own and "I THINK" I have yet another million bucks through UBER if their lawyers don't come up with a way to WEAZLE out of paying....

So, I got 2 million + 1 UBER million = 3 million bucks to show the judge I WAS PREPARED to Injure or Kill someone....
And then, Maybe, just Maybe I will not lose everything I own plus 10 years wages....

just my .02 worth....
 

·
Registered
Joined
·
971 Posts
Let's add in the cost of insurance to every mile you drive, with or without a passenger, because you have to pay for that insurance whether you pick up one passenger a month or a hundred a week.

I calculated 35¢ a mile with my regular insurance policy pricing. Erie insurance doubled my insurance costs, and the insurance portion of my calculation raised my per mile cost a few cents closer to 40¢.

At today's rates, reimbursement comes to about 60¢ a mile but only with a passenger. If I routinely drive as many "dead" miles as I do with a passenger, I'm being compensated only 30¢ a mile.

So, I have to pay Uber ten cents a mile in the form of loss of future vehicle equity to drive passengers around?
 

·
Registered
Joined
·
144 Posts
I don't get your math Diesel. My Erie business policy cost me $200/yr more than my personal policy with another carrier-where I was supposedly getting discounts for homeowners etc. In 8 months, I've driven 25,000 total Uber miles (with and without pax). That is $0.008/ mile. Even if you count the entire cost of the policy, it is 2.8 cents/mile and those numbers will go down as I add miles in the remainder of my policy year.
 

·
Registered
Joined
·
971 Posts
Hi Wheelman - my Erie quote was an extra $120/6 months - so my insurance cost doubled.

I didn't say 35¢ a mile was my insurance cost, I said that doubling the cost of insurance raised my per mile costs a couple cents from 35 closer to 40¢. If you drastically reduce the amount you drive, like I did after the last reduction, it makes sense that I was not anywhere near .8¢ a mile for the insurance increase.

You drive 3000 miles a month. What does it cost you to drive your Tahoe each mile? It's got to be higher than than my cost per mile because I get 40mpg on diesel and you ... do not get 40 mpg.

A 2015 Tahoe gets 18mpg in mixed driving according to Fuel Economy dot gov

If you pay $2.40 for a gallon then gas alone costs you 13¢ a mile. Your brakes are bigger, your tires are bigger, you have more oil capacity, all costs of driving are increased in a large SUV.

So your cost per mile are xx¢ and your reimbursement is for some percentage of those miles.

You are trading the future equity of your Tahoe for cash today. I know you're getting better rates than UberX for some of your miles, but still.... Indianapolis doesn't surge like San Francisco or LA or Houston.

I just can't make the numbers work for me - too many times I've driven to the airport with a car full only to have to drive the 15 miles to downtown empty just to get a few fares... and totally disheartened to have the bad luck of picking up someone going to Greenwood, not Carmel.
 

·
Registered
Joined
·
144 Posts
Not claiming I'm getting rich but, I bought the Tahoe used and at the pace I'm on, will earn enough in two years to repay myself for what I've got in it. I hit it hard this past winter to build up some cash and now just running 10-20 hrs per week so I can play golf, work in the yard, do all the great summer outdoor stuff here. The flexibility just can't be beat-I can not stand a regularly scheduled full or part time job at this point in life. I too start getting a bad attitude (as you demonstrate) when I drive too much. It IS time to park it when one gets like that.
 
1 - 11 of 11 Posts
Top