The answer is a definite yes!
The "ridesharing" industry has become a very popular service to use, but also a very popular service to work in. Many drivers use Lyft and Uber to make extra income in addition to their 9-5 jobs. While there are great benefits to the users and drivers of the service, the drivers need to make sure they are adequately covered while they are working.
What most Lyft and Uber drivers don't know or don't understand is that the insurance provided by the respective company they work for is very limited. The insurance policies that are in place for Lyft and Uber drivers while they are working are really only there to cover the customers that are picked up and are in the vehicle at the time of an accident OR a third-party that a driver is at-fault for causing damage to in an accident. There isn't any coverage for liability or physical damage for the driver or their vehicle.
This is where it becomes important for drivers to have the right type of insurance policy. The majority of insurance companies don't automatically cover drivers who work for Lyft and Uber, and there are several companies that won't cover that type of driver at all. It's important for driver's to talk to their insurance agents and make sure they are covered for working for Lyft or Uber. If they aren't, we always recommend that drivers ask if their carrier have a "ridesharing" endorsement. This endorsement will allow a driver to work for Lyft and Uber and provide liability and physical damage (if it's already on their policy) coverage to them, their vehicle, and a third party if an accident occurs. If this endorsement isn't added and a carrier doesn't cover Lyft and Uber services, then a carry has the right to deny covering a claim if an accident occurred while the driver was on the job.
So please Lyft and Uber drivers, take the time to review your coverages! You don't want to end up paying out of pocket to fix your car or pay for your medical bills or have a completely totaled vehicle that you can't use to driver any longer, subsequently losing that income. Although Ridesharing coverage does cost extra, it is so valuable in the long run and you can continue to drive and make money knowing you're well protected.