NYC Rideshare Insurance

What Is Ridesharing?

Ridesharing is a car service that allows a passenger to arrange travel in a vehicle for a fee, most often by means of a website or app. Ridesharing can go by many names in New York, including Transportation Networking Companies (TNCs) or black cars. Ridesharing operators in New York City (NYC), such as Uber, Lyft, Via, Juno, Curb and Arro, serve as a convenient way to travel short and long distances by car at a moment’s notice. In NYC, rideshare drivers with NYC Taxi and Limousine Commission (TLC) licenses are able to affiliate their vehicles with a rideshare base and operate as independent contractors picking up pre-arranged rides with passengers.

Do I Need Rideshare Insurance?

Yes. The insurance requirements for rideshare companies operating in NYC are very different than the requirements in the rest of the country. Rideshare companies and drivers in NYC are regulated by the TLC. The TLC requires TLC drivers to purchase and maintain commercial insurance coverage on each vehicle. It is illegal to operate a for-hire-vehicle (FHV) in NYC without a TLC hack license and mandatory TLC commercial insurance. Your personal auto insurance policy will not cover or insure you or your vehicle in the event of an accident that occurs while on duty.

Most rideshare vehicles are subject to liability coverage of $100,000 per person, $300,000 per accident and $200,000 personal injury protection. Please note that vehicles that have more than 8 passengers or are considered luxury limousines and may require a higher limits.

How Do I Purchase Rideshare Insurance?

For nearly 50 years, Pearland Brokerage has provided commercial auto insurance quotes to thousands of licensed NYC TLC Drivers and TLC Vehicle Owners. Our experienced insurance brokers have a solid understanding of the insurance requirements for TLC licensees and vehicle operators. We quote rideshare insurance coverage and options to Uber drivers, Lyft drivers, Via drivers, and other rideshare programs companies with all the major carriers to find the right insurance policy for you.

Ask us how you can save 5% - 10% off your premium with a dash cam.