How Can Uber Drivers Get Commercial Auto Insurance?

Ever since I brought on the Uber Black car guy to talk about driving for Black, many of you have sent me questions and comments asking how you can get commercial auto insurance. So, what is the best way for drivers to get commercial auto insurance? I looked into this issue and recorded a quick video to explain how you can get it done.

Check out the video, then read the transcript below.

First off, the Uber Black Car Guy wrote a nice post for me where he talked about how he used to be a taxi cab driver, and then became an Uber Black driver and made $10,000 in his best month. It’s a cool post, and you can check it out here.

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Commercial insurance can help you break into Uber Black, SUV, and your own private service

If you want to step your game up, UberBLACK or UberSUV is a good way to do that, especially with the saturation of drivers getting worse and worse every month. Black and SUV may be closed in a lot of markets or certain markets, though. It does open up from time to time, and there are services out there who allow you to start building your own network of passengers, which is definitely something I recommend if you have commercial insurance. With commercial insurance, you can build your own little Rideshare business.

The first place to look is with the big boys: State Farm, Farmers, and other big name insurers. You’re looking for taxi-limousine, or rideshare type of commercial insurance. They might not have a Rideshare designation yet, but you basically want taxi or limousine commercial insurance. Start with the big boys and see if they have an agent who specializes in it, or see if they even offer it.

Insurance is state specific, so you’ll have to do a lot of homework

Insurance is state specific, so it’s hard to speak generally about it. You might talk to one driver who’s able to get commercial insurance in California but you’re in Oregon. The policies vary from state to state, so that’s definitely something to keep in mind. I’m going to try and give you guys general principles so that you can apply them no matter what state you’re in. I definitely recommend trying to get at least one to three quotes just to compare prices.

The cost of commercial insurance, and why an agent is the right way to go

You should see prices in the $2,500 to $4,500 range for commercial insurance per year. You want to be looking somewhere in that range, and then from there it’s variance is going to depend on deductibles and the coverage that you get. But I think where you’re really gonna have more success in finding commercial insurance is if you find an independent agent who specializes in taxi, limousine, and transportation. Those are the agents that have already done it before and they know exactly what you need to do. Look for an independent agent who specializes in this area and the process will be a lot easier.

Some resources to get you started

Here’s a link to a cool resource I found, a website that might be able to help you get started. I have a couple articles that the BLACK car guy did for me, and then I also brought him onto the podcast too and we talked a lot about commercial insurance and just becoming more of a professional driver. So if that is something that you’re interested in, definitely take a look.

These are the steps to look into to getting commercial insurance. Hopefully this video was helpful! Take care.

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