Erie Insurance Edges Out Allstate Despite Costing 10 Times More

TAMPA, Fla., Oct. 19, 2022 /PRNewswire/ -- According to a recent report released by Clearsurance.com, USAA, Erie Insurance, and American family top the list of best rideshare insurance providers.

Since USAA is only available to past and present military members and their families, and Erie Insurance and American Family Insurance are only available in select markets, those considering rideshare insurance should look into the other insurers who made the top 10 list.

The company name is followed by Clearsurance.com's customer rating out of a maximum 5.

• USAA – 4.74  
• Erie Insurance – 4.29
• American Family – 4.13
• Geico – 4.11  
• Safeco – 4.10
• State Farm – 4.09      
• Travelers – 4.09
• Progressive – 4.06     
• MetLife – 4.03
• Allstate – 4.01

USAA, Geico, State Farm, Progressive, and Allstate are available in most states, while the other providers on this list only offer rideshare insurance in limited markets.

Rideshare companies offer insurance to their drivers during periods 2 and 3 when a driver is en route to pick up a rider and when they are transporting the rider. Drivers are covered by their auto insurance policy when their app is off and driving for personal reasons.

During period 1, a driver may experience a coverage gap. In this period, the driver has their rideshare app on and is waiting to find an accepted ride.

Since rideshare companies tend to have high deductibles with their coverage, many private insurance policy riders also provide supplemental coverage for those deductibles during periods 2 and 3.

Erie Insurance beat most of the competition even though they charge close to ten times what Allstate charges for rideshare coverage. Even still, many drivers are surprised by how affordable it is to add rideshare insurance to their standard car insurance. For example, Allstate charges around $20 per year, while several other providers, including Erie Insurance, charge in the $10 to $15 per month range.

Melanie Musson, a nationally recognized insurance expert with Clearsurance.com, explains, "Insurance policies are designed for regular driving. Driving for hire falls outside a standard policy's scope, so an insurance company could deny a claim for damages incurred while using the rideshare app."

Rideshare insurance is a simple, cost-effective way for drivers to ensure adequate insurance protection for their journey.

Read Clearsurance.com's full report here: Best Rideshare Insurance Companies for Drivers.

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SOURCE Clearsurance.com