Does Farmers Offer Rideshare Insurance?

Last Updated on September 10, 2023

Farmers is one of several major car insurance companies in the United States now offering rideshare insurance.

When you buy rideshare insurance through Farmers, you cover any gaps between your personal auto insurance policy and your rideshare company’s insurance policy.

Keep reading to discover everything you need to know about Farmers rideshare insurance coverage and how it works.

Key Takeaways:

• Farmers offers rideshare insurance in most states to cover the gaps between your personal auto policy and your rideshare company’s policy.
• Farmers Rideshare extends your personal coverage to periods when you are logged into the app and waiting for a ride, which are normally not covered by either policy.
• Farmers Rideshare costs around 10% to 20% of your personal premium and can be added to your existing policy by calling or contacting a local agent.
• Farmers Rideshare is a good option if you want to avoid driving uninsured or underinsured while working for a rideshare service.

Yes, Farmers Offers Rideshare Insurance

Yes, Farmers offers rideshare insurance in most states. The company calls its rideshare coverage Farmers Rideshare.

If you drive for Uber, Lyft, or another rideshare insurance company and have a personal policy with Farmers, then you may want to add rideshare insurance to your policy. Otherwise, you could have “gaps” in coverage where you’re driving without insurance – or with too little insurance.

Farmers Rideshare works similarly to other rideshare insurance plans. You add it to your personal insurance policy. Then, Farmers extends your personal insurance policy to cover you when driving for Uber, Lyft, and other rideshare services.

Typically, Farmers charges around 10% to 20% of your premium to add Rideshare Insurance to your policy.

Why You May Need Farmers’ Rideshare Insurance

Your rideshare company’s insurance leaves you with gaps – even if you have a personal policy with Farmers.

Your Farmers personal policy may cover you when driving for personal trips. However, it does not cover you when driving for commercial purposes – like when driving for Uber or Lyft.

Rideshare companies provide some coverage when actively driving to a passenger or dropping the passenger at a destination, but they provide limited coverage outside of these periods. By buying rideshare insurance through Farmers, you can fill this gap.

Let’s say your rideshare app is turned on, and you’re waiting for a wait. During this period, most rideshare companies provide little to no insurance coverage. Your personal policy, meanwhile, does not provide coverage during this period because you’re driving for commercial purposes. You have a gap.

Ultimately, you may need Farmers’ rideshare insurance because you have gaps. Farmers’ rideshare insurance covers these gaps, giving you added peace of mind and protection.

How Farmers Rideshare Insurance Works

Farmers Rideshare works similar to the rideshare insurance plans offered by other major insurers.

Here’s how it works:

• You contact Farmers to add Farmers Rideshare coverage to your existing auto insurance policy. If you don’t have an existing policy with Farmers, you can also contact the company for a free quote.
• After adding Farmers Rideshare coverage to your policy, you remain covered when driving for rideshare services. Farmers Rideshare covers the “gaps” between your personal policy and your rideshare company’s policy.
• Normally, you would be uninsured when you log onto the app and are waiting for a ride, for example. However, with Farmers Rideshare coverage, your insurance extends to cover this period.
• Once you accept a ride and are driving that ride to the destination, your rideshare company’s insurance coverage becomes active. Rideshare companies have commercial insurance policies that cover you during this period. As long as you are actively driving to a passenger or dropping them off at a destination, you have valid coverage.
• After the passenger leaves your vehicle and you’re waiting for the next ride, your rideshare company’s insurance stops covering you. At this point, Farmers Rideshare fills the gap, extending your personal auto insurance policy to cover you while waiting for your next ride.

Essentially, Farmers Rideshare works by extending your personal insurance policy. Normally, your personal insurance policy does not cover commercial trips. However, by adding Farmers Rideshare to your policy, the company extends coverage to fill in the gaps, leaving you with complete coverage.

How to Add Farmers Rideshare to Your Personal

If you already have a personal insurance policy with Farmers, you can add Farmers Rideshare to your policy by calling 1-855-808-6599.

If you are not a Farmers customer but are interested in receiving a quote for a personal policy with Farmers Rideshare added on, contact a local Farmers agent for a quick, no-obligation quote.

How Much Does Farmers Rideshare Insurance Cost?

Farmers charges different prices across the United States, and different drivers pay different rates for rideshare coverage.

Generally, however, most insurers charge around 10% to 20% extra for adding rideshare insurance to your policy.

If you pay $100 per month for your personal auto insurance policy with Farmers, you could pay $10 to $20 per month for Farmers Rideshare coverage.

Is Farmers Good for Rideshare Insurance?

If you already have a personal policy with Farmers and are happy with it, adding Farmers Rideshare to your policy may be the right choice.

Overall, Farmers Rideshare works similarly to the rideshare policies other major insurers offer. The company simply extends your personal coverage to cover certain parts of your rideshare trip. If you have good personal coverage (like a full coverage policy), you’ll have good rideshare coverage. If you have limited personal coverage (like a basic liability policy), then you could still be underinsured.

According to the latest J.D. Power auto insurance rankings, Farmers is one of the biggest auto insurance companies in the country in most states and subregions. The company scored average to below average for coverage, claims satisfaction, and pricing competitiveness, although it remains a popular option for rideshare drivers and TNC operators across the country.

Should I Buy Farmers Rideshare Insurance?

Farmers Rideshare is a must-have if you drive for a rideshare company or transportation network company (TNC) and have a personal policy with Farmers.

Without Farmers Rideshare, you have a gap where you have limited insurance coverage or no insurance coverage whatsoever. If you cause an injury during this gap, or if you damage your vehicle, then you could be forced to pay for any damages or medical bills out of pocket.

In exchange for 10% to 20% of your monthly premium, you can extend coverage to cover any gaps between your rideshare company’s commercial policy and your existing Farmers personal policy.

Final Word

Farmers is one of several major insurance companies that now offers rideshare insurance. Farmers Rideshare extends your personal policy to cover gaps left by your rideshare company’s insurance coverage.

Instead of driving uninsured or underinsured between rides, you can extend your personal policy to cover the gap, giving you better peace of mind and coverage.

To learn more about Farmers Rideshare or to add Farmers Rideshare to your policy today, contact your Farmers agent.