Comparison Shop Rideshare Insurance Costs with Coverhound.
Coverhound launches new rideshare insurance cost comparison tool.
Driving for Lyft or Uber and wish you could compare rideshare insurance policies? Well, a new tool is now available for drivers to do just that. Coverhound, the auto insurance comparison shopping site, has launched a rideshare portal. It lets you compare rates for rideshare insurance from a number of companies including: Safeco, Progressive, Mercury, Foremost, State Auto, CSE, Kemper, and National General.
Currently, Coverhound’s ridehare portal provides quotes in the following states.
AZ, AR, CA, CO, GA, IL, IN, KS, MD, MN, MO, MT, NC, NV, NM, OH, OK, OR, SD, TN, TX, UT, WA and WI.
Not every company listed above offers insurance in all of these states.
Does Coverhound work and send you back actual rideshare insurance quotes?
Yes, it does. On the first screen, you enter your zip code, and the number of vehicles and drivers you want to insure.
Source: Coverhound.com
After that, you enter your vehicle information and how much coverage you want, and you get comparison quotes from different companies. Some companies give a quote, others ask you to call them. I asked for a quote for a rideshare policy on a 2017 Toyota Camry. I got back quotes from multiple companies, at multiple coverage levels! The Coverhound rideshare insurance comparison engine even lets you see how much the cost is if you pay in installments vs. all at once.
Source: Coverhound.com
As you can see, minimum coverage for a 2017 Toyota Camry will cost $163 per month through Safeco. This is for a policy with limits of $50k for liability and $20k for property, and has a $1,000 deductible. However, Coverhound also shows you basic, superior, and deluxe coverage levels.
Source: Coverhound.com
If I want to stay with Safeco, but have slightly better coverage, the cost will be $177. For that, I would get a policy with a liability limit of $100 for bodily injury and $25k for property. Also, my comprehensive deductible would be $500 instead of $1,000. However, according to Coverhound, I can get a similar policy on Mercury for just $143 per month. That’s less than the minimum coverage policy offered by Safeco. It definitely pays to comparison shop when looking for rideshare insurance.
Have you used Coverhound’s rideshare portal, and what was your experience? Let us know below?
