Don't do it. My wife did it a few months last year. She was lucky to clear $4/hr. She would drive across town only to take someone 3 blocks which only paid her a couple of dollars.
What insurance do you need to drive for Lyft/Uber?
- Thread starter JimmyJohns
- Start date
- Status
Originally Posted By: CKN
Yep^^^^^^^^^^^^McDonalds here pay between $11.00 and $12.00 an hour. Your better off flipping burgers.
I stopped off at McDonalds to get a large sweet tea and waiting for my drink in walks an Uber Eats driver to pick up an order.
I immediately think to myself the cashier makes more than the Uber Eats driver once everything is calculated...
Yep^^^^^^^^^^^^McDonalds here pay between $11.00 and $12.00 an hour. Your better off flipping burgers.
I stopped off at McDonalds to get a large sweet tea and waiting for my drink in walks an Uber Eats driver to pick up an order.
I immediately think to myself the cashier makes more than the Uber Eats driver once everything is calculated...
Originally Posted By: hallstevenson
The cheapest option is to not tell your insurance company. IF something happens while you're "working", the passengers are your "friends". I wouldn't do this but it's an option....
Good luck with that. My dad is a retired attorney and a multi millionaire. He would have no problem winning or settling a case for a client in which you lost your home and assets.
The cheapest option is to not tell your insurance company. IF something happens while you're "working", the passengers are your "friends". I wouldn't do this but it's an option....
Good luck with that. My dad is a retired attorney and a multi millionaire. He would have no problem winning or settling a case for a client in which you lost your home and assets.
Originally Posted By: JimmyJohns
I've been thinking about driving for Lyft/Uber in WNY, since I have an 09 civic.
I've come across a few posts and horror stories about people getting into accidents, and their insurance telling them to pound salt since they're using their vehicle for ridesharing.
As far as I know, Uber/Lyft offer insurance for their drivers, but IIRC the deductibles are stupid high, I'm also not sure if this is an extra cost or automatically included.
I hope someone can chime in on this, I'd love to make a little extra money, but not at the risk of not being covered if something bad happens.
Read this first. Just google "uber drivers not making money".
https://www.fastcompany.com/40538647/nea...oney-study-says
I've been thinking about driving for Lyft/Uber in WNY, since I have an 09 civic.
I've come across a few posts and horror stories about people getting into accidents, and their insurance telling them to pound salt since they're using their vehicle for ridesharing.
As far as I know, Uber/Lyft offer insurance for their drivers, but IIRC the deductibles are stupid high, I'm also not sure if this is an extra cost or automatically included.
I hope someone can chime in on this, I'd love to make a little extra money, but not at the risk of not being covered if something bad happens.
Read this first. Just google "uber drivers not making money".
https://www.fastcompany.com/40538647/nea...oney-study-says
Last edited:
Originally Posted By: hallstevenson
The cheapest option is to not tell your insurance company. IF something happens while you're "working", the passengers are your "friends". I wouldn't do this but it's an option....
insurance investigator would see through that in about a minute.
solution is not to drive, or by a policy specific
The cheapest option is to not tell your insurance company. IF something happens while you're "working", the passengers are your "friends". I wouldn't do this but it's an option....
insurance investigator would see through that in about a minute.
solution is not to drive, or by a policy specific
Originally Posted By: Chris142
Don't do it. My wife did it a few months last year. She was lucky to clear $4/hr. She would drive across town only to take someone 3 blocks which only paid her a couple of dollars.
Doesn't the app tell the driver what the 'job' is and then drivers can accept it or ignore it ?
Don't do it. My wife did it a few months last year. She was lucky to clear $4/hr. She would drive across town only to take someone 3 blocks which only paid her a couple of dollars.
Doesn't the app tell the driver what the 'job' is and then drivers can accept it or ignore it ?
Originally Posted By: hallstevenson
Originally Posted By: Chris142
Don't do it. My wife did it a few months last year. She was lucky to clear $4/hr. She would drive across town only to take someone 3 blocks which only paid her a couple of dollars.
Doesn't the app tell the driver what the 'job' is and then drivers can accept it or ignore it ?
What's your point? Yes even if it did that, why would she ignore it? It sounds like there just wasn't activity in the area to make it worth it. Yes, maybe she made $4 driving someone 3 blocks, but then if there's no other fare for the hour, you only end up making $4/hour. It would have been $0 if she declined it.
Originally Posted By: Chris142
Don't do it. My wife did it a few months last year. She was lucky to clear $4/hr. She would drive across town only to take someone 3 blocks which only paid her a couple of dollars.
Doesn't the app tell the driver what the 'job' is and then drivers can accept it or ignore it ?
What's your point? Yes even if it did that, why would she ignore it? It sounds like there just wasn't activity in the area to make it worth it. Yes, maybe she made $4 driving someone 3 blocks, but then if there's no other fare for the hour, you only end up making $4/hour. It would have been $0 if she declined it.
Uber lets their drivers take on 100% of all the risks and liabilities.... then takes a substantial cut of the driver's pay.
Chick Fil A is a much better job if you want part-time work and you get a discount on the very delicious chicken sandwiches.
Chick Fil A is a much better job if you want part-time work and you get a discount on the very delicious chicken sandwiches.
If the goal is to drive and make money doing it... I encourage you to look into being an employee of a transportation company. If the goal is to work for yourself while driving, I encourage you to look into delivering packages rather than people. (The major insurance company I work for provides a policy for delivering packages, but not people in NY.) Of course this is because of the required "no-fault" PIP coverage in NY. (An insurance company can be on the hook for a quarter of a mil very quickly if something goes wrong with injuries.)
Tell your insurance company and buy the appropriate coverage.
losing prospect, would never consider it. If you need money, putting more miles on your car, more oil changes, more brakes, more tires, more gas, etc is not the way to do it. Add in the factor of idiots spilling drinks, puking, smelling and pay more for cleanups.
If you need the money, first thing is to cut out stuff you really don't need like maybe buying coffee out daily for example. Look for cheaper option cell phone plans. Cheaper insurance for car, etc,etc,etc. Do all the cost savings you can before you decide to work more hours in the day, for stuff you really may not need, or just paying too much for.
If you need the money, first thing is to cut out stuff you really don't need like maybe buying coffee out daily for example. Look for cheaper option cell phone plans. Cheaper insurance for car, etc,etc,etc. Do all the cost savings you can before you decide to work more hours in the day, for stuff you really may not need, or just paying too much for.
Originally Posted By: Wolf359
You do realize it's just a "little" money right? I think they say it's more like $15/hour or less if you're not busy. You do make more than that, but after factoring in insurance, wear and tear on the car, and gas, that's about the effective rate.
I'm a CPA who drove Uber for fun, and kept detailed records recording after tax income.
I made $8-$12/hour after tax, including accruals for depreciation and repair & maintenance. Actual amount depended on volume and ride distances. I eventually decided that the small wage wasn't worth the risk of damage to my car.
Of course I was driving a new WRX that took premium (like I said, doing it for the fun of driving, not the money). An older Civic means lower depreciation, better mileage, and regular fuel, so you may do better.
Good luck if you decide to try it.
You do realize it's just a "little" money right? I think they say it's more like $15/hour or less if you're not busy. You do make more than that, but after factoring in insurance, wear and tear on the car, and gas, that's about the effective rate.
I'm a CPA who drove Uber for fun, and kept detailed records recording after tax income.
I made $8-$12/hour after tax, including accruals for depreciation and repair & maintenance. Actual amount depended on volume and ride distances. I eventually decided that the small wage wasn't worth the risk of damage to my car.
Of course I was driving a new WRX that took premium (like I said, doing it for the fun of driving, not the money). An older Civic means lower depreciation, better mileage, and regular fuel, so you may do better.
Good luck if you decide to try it.
When people have nothing to lose (i.e. poor, nothing to sue for if they got into accident with insufficient insurance), a marginal vehicle (that they don't mind depreciation on), desperate for money, need the flexibility because of other responsibilities, these ride sharing gigs may be better than unemployed.
Many people already have good paying jobs, nice cars, a lot of assets to be sued for in an accidents, need to buy expensive insurance to protect themselves, etc. Ride sharing is not for them.
There is a reason these companies' insurances only "protect" the passengers when they are riding, and not when the drivers are going to pickup their passengers. If you are hit by a driver going to pickup the passengers, you better have uninsured motorist insurance or a good lawyer.
Minimum wage reduce the number of jobs available, end up with some people making more money and others unemployed. Those unemployed (too old, not as productive, not attractive looking for customer facing jobs, etc) may end up in gig economy as contractors, making less than minimum wages, balancing the workforce demand and supply.
Many people already have good paying jobs, nice cars, a lot of assets to be sued for in an accidents, need to buy expensive insurance to protect themselves, etc. Ride sharing is not for them.
There is a reason these companies' insurances only "protect" the passengers when they are riding, and not when the drivers are going to pickup their passengers. If you are hit by a driver going to pickup the passengers, you better have uninsured motorist insurance or a good lawyer.
Minimum wage reduce the number of jobs available, end up with some people making more money and others unemployed. Those unemployed (too old, not as productive, not attractive looking for customer facing jobs, etc) may end up in gig economy as contractors, making less than minimum wages, balancing the workforce demand and supply.
Originally Posted By: Palut
I eventually decided that the small wage wasn't worth the risk of damage to my car.
Not to mention the risk of bodily injury or death. With a lot miles in traffic, the odds of a brain injury, etc., go way up over time.
I eventually decided that the small wage wasn't worth the risk of damage to my car.
Not to mention the risk of bodily injury or death. With a lot miles in traffic, the odds of a brain injury, etc., go way up over time.
Bottom line, after my own experiences and reading all the above in this thread & others:
Do not drive Lyft or Uber. Bad idea.
Do not drive Lyft or Uber. Bad idea.
Originally Posted By: Palut
Of course I was driving a new WRX that took premium (like I said, doing it for the fun of driving, not the money). An older Civic means lower depreciation, better mileage, and regular fuel, so you may do better.
Good luck if you decide to try it.
I talked to a guy who drives from Sacramento on the weekend in a newish Chevy Impala who said he can make $2K or more in a week but he's also putting in 12 hour days and the San Francisco Bay Area is a hot Uber/Lyft market since our transit systems are dysfunctional and lots of people my age are shunning the suburbs. I see a lot of people use Uber as the last mile between their homes and BART, it's much less of a hassle to ping an UberX/Pool than it is to find parking at a BART station. Even though the daily parking fee($3-4, $10 at the West Oakland station before you enter SF) is cheaper than the Uber ride.
All the new car dealers have been stocking up on used Prii, Altimas and Sonatas to try to lure potential Lyft/Uber drivers in the door if they need a car - they also know a lot of them have bad credit and subprime car loans make the F&I department happy vs. prime lending from the auto maker's credit arm.
I've been picked up in a WRX and "luxury" cars many times on Uber - I understand drivers will do anything to get 5 stars from people like me. But I think driving anything more than a Prius for Uber is stupid.
Of course I was driving a new WRX that took premium (like I said, doing it for the fun of driving, not the money). An older Civic means lower depreciation, better mileage, and regular fuel, so you may do better.
Good luck if you decide to try it.
I talked to a guy who drives from Sacramento on the weekend in a newish Chevy Impala who said he can make $2K or more in a week but he's also putting in 12 hour days and the San Francisco Bay Area is a hot Uber/Lyft market since our transit systems are dysfunctional and lots of people my age are shunning the suburbs. I see a lot of people use Uber as the last mile between their homes and BART, it's much less of a hassle to ping an UberX/Pool than it is to find parking at a BART station. Even though the daily parking fee($3-4, $10 at the West Oakland station before you enter SF) is cheaper than the Uber ride.
All the new car dealers have been stocking up on used Prii, Altimas and Sonatas to try to lure potential Lyft/Uber drivers in the door if they need a car - they also know a lot of them have bad credit and subprime car loans make the F&I department happy vs. prime lending from the auto maker's credit arm.
I've been picked up in a WRX and "luxury" cars many times on Uber - I understand drivers will do anything to get 5 stars from people like me. But I think driving anything more than a Prius for Uber is stupid.
- Status
