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Rideshare Insurance

Your go-to Rideshare Insurance Professionals

There’s never been a more exciting time to enter the rideshare industry in New Zealand. But with the boom in services such as Uber, Ola, Lyft, Zoomy, and DiDi, there’s one thing you can’t afford to overlook: rideshare insurance. At Gerrards Insurance Brokers, we help drivers like you get the best deal and cover with their rideshare insurance. Contact us now to get a quote, or read on for a comprehensive guide to understanding and navigating rideshare insurance in New Zealand.

Why Do Rideshare Drivers Need Insurance?

Just like any other driver, rideshare drivers are not exempt from the risks of the road. You might be a skilled driver with an excellent record, but there are always variables you can’t control. Other drivers, bad weather, or mechanical issues can lead to incidents that cost money or put your source of income at risk.

Essential Rideshare Insurance Covers

Business Vehicle Insurance

Protects vehicles used for rideshare driving. It covers accidents, damages, and injuries related to the vehicle while it’s being used for business and personal activities.

Best For
  • Repair costs
  • Third party damages
  • Injuries 

Loss of use

Coverage that helps when your vehicle is unusable due to an accident. It covers the cost of a temporary replacement vehicle, so you can still get around while your car is being repaired.


Best For
  • Temporary vehicle
  • Reimbursement expenses
  • Accident downtime

Rideshare Driving Business Claims Examples

To understand the significance of these covers, consider the following examples.

Crashing into someone else's car

Whilst on the way to pickup a passenger, you get distracted trying to find an address and go through a red light hitting another car. This causes significant damage to your vehicle and the third parties vehicle. Your commercial vehicle insurance can cover the repair costs. Loss of use can cover the costs of hiring another vehicle for Rideshare driving whilst yours is getting repaired. 

Scrape into building whilst reversing

While reversing, you scrape a building, damaging your vehicle’s bumper. Again, your commercial vehicle insurance can step in.

Car backed into by third party

Whilst you are waiting outside a house on a customer, a third-party backs into your parked vehicle. Your commercial vehicle insurance can take care of the damage.

Car is stolen

Your car gets stolen. It’s a nightmare scenario, but your commercial vehicle insurance can cover you.

Severe Damage from a sudden flooding

Water damages your car during a freak storm. This is where comprehensive cover pays off.

What to Watch Out For With Rideshare Insurance

These are some of the common Rideshare Insurance mistakes to be aware of: 

Personal Insurance Policies

A standard personal policy won’t cover your vehicle while driving for a rideshare company.

Neglecting Loss of Use Cover

Without this, you’re left without a replacement vehicle if yours needs repairs.

Inadequate Sum Insured

Underestimating the value of your vehicle can lead to a shortfall if you need to replace it.

Unawareness of Excess

You should know how much you’ll need to contribute if you make a claim.

Failure to Declare Previous Claims or Accidents

Not only will this void your current claim, but it can also lead to your insurance being cancelled and potentially not being able to get insurance again.

Not checking for policy exclusions

Some policies may exclude certain scenarios or types of damage.

Not reviewing your policy regularly

Your needs can change, so your policy should be regularly reviewed to ensure it’s still the right fit.

How Much Does Rideshare Insurance Cost?

The cost varies significantly, ranging from $1,000 a year for an older car to between $2,000 and $3,000 for a newer more expensive vehicle in a higher risk location. Key factors that influence the cost include:

The sum insured of the your rideshare vehicle

Higher valued and newer cars generally attract higher premiums.

Your location

Insurance companies know which areas have higher accident rates. For instance if you are driving in Auckland, you are more likely to be involved in accident than if you were driving in Christchurch. 

Who is being covered

Your age, driving experience, and claim history impact the cost of Rideshare Insurance. 

Level and type of cover required

Comprehensive cover with Loss of Use will cost more than comprehensive insurance on it’s own. 

Claiming on Your Rideshare Insurance

With Gerrards Insurance Brokers, we have claims experts who handle your claim on your behalf, making the process stress-free.

How to Buy Rideshare Insurance?

Navigating the insurance landscape can be challenging, but you don’t have to do it alone. Talk to us at Gerrards Insurance Brokers. We’ll guide you through the process, ensuring you get the right cover and the best deal.


Rideshare insurance is a critical part of your business toolkit. It protects you, your vehicle, and your income against unforeseen incidents. Remember, every driver’s situation is unique, and at Gerrards Insurance Brokers, we are committed to helping you find the policy that fits your needs. Let’s make sure you’re covered, so you can focus on delivering excellent service to your riders.

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