Do you have adequate rideshare insurance?

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SherpaShare and NerdWallet teamed up to survey Uber and Lyft drivers across the country on insurance. In the survey, conducted by SherpaShare (here, on the blog and within the Pulse app), 1,022 responded from the SherpaShare community. SherpaShare and NerdWallet wanted to determine whether drivers were adequately insured and the reasons for doing or not doing so. Here are the results!

Key Survey Outcomes

  • Most of those surveyed did not purchase additional insurance above what their ride share companies provide
  • The cost of additional insurance is an extremely important factor in why people avoid buying it
  • A large number of drivers underestimate the risk of not having adequate insurance
  • Most drivers are looking to buy insurance in the near future
  • Mandatory compliance laws being enacted leads to an increase in additional insurance purchase

Read the whole article and in-depth analysis on the NerdWallet website here or see their info-graphic on the findings below:

20160226_RideshareInsuranceInfog_r4-1

Remember, you can deduct your insurance payment as a tax deduction! Join SherpaShare Pulse, the worlds largest online driver chat community to ask more questions about these findings and connect with other drivers! SherpaShare was built to help independent contractors maximize their earnings potential by providing them with more accurate mileage and expense tracking, and provide a real time community network. If you haven’t already, download our App and start tracking 2016 mileage and expenses now. 

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