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How much does Uber pay for insurance coverage

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louisr12
15 Rider
 Posted 1 year, 7 months ago

Hello all,

I have a question regarding the public liability insurance of Uber. How much does the company pay per driver on his platform? What is their insurance premium?

Thanks in advance guys.


Louis 

Comments

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    JPoland
    178 Driver Driver
     1 year ago

    So you are wondering how much Uber pays on average for the insurance premium.

    You know their coverage, right?  They cover for the portions of drivers' day where they are on the way to the destination and while they are driving passengers.  This insurance policy is most likely a part of the master agreement Uber has negotiated with the insurance companies.  I would think there is a different contract and pricing for individual markets, while considering various factors like miles driven, rides expected, driver's driving records, etc.   As part of this negotiation, I am sure Uber is mandated to perform background checks, provide driver history, etc. so the insurance companies can come up with a proper premium.

    Since Uber isn't a public company, we don't know, right?  However, once they become a public company, they may give us the total expenditure on driver insurance.  Divide that by the number of drivers, and you would get how much Uber spends on each driver.

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    BrianTheScrewDriver
    434 Driver Driver
     1 year ago

    I'd imagine it isn't that much. I pay $160~200 a year for my coverage. So...for period 2 and 3? Like $50/driver? Wild guess.

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    louisr12
    OP 15 Rider
     1 year ago

    Thanks for the response, but I am referring to the cost Uber bears per driver. What is their cost to ensure drivers, meaning their insurance premium?

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    RedANT
    1075 Rider Driver
     1 year ago

    The maximum coverage is variable, based on the requirements set by the state that you're driving in.  Regardless, their aupplemental insurance is horrible, with a $1k deductible that drivers are required to pay in the event of any accident.