Uber, Lyft and other ride share companies are quickly gaining popularity not only for those who are looking for a ride but for those who are looking for supplemental income. In fact, this platform has gained such popularity that many professionals are quitting their full-time jobs to become a trip-share driver. While this may seem like a great idea, there are lingering questions of what drivers need to know about ride sharing that need to be answered before you start your exciting new career.
Do I Need a Special License?
There is no special license needed to become a ride share driver. This said, there are licensing requirements that are considered an industry standard. The first is that your license must be valid. Then you must have a clean driving record, so, if you have multiple speeding tickets, don't expect to be approved to become a ride-share driver.
Some states have different requirements so it is important to know the laws that are specific to your location.
Do I Need Commercial Insurance?
You do not need to add any additional insurance to your current policy but you should have at the least your states minimum liability insurance. Depending on your state, companies like Uber and Lyft will cover you, your passenger and your vehicle during trips with their own insurance to ensure that there is no break in coverage and you and your passengers are fully covered should something happen.
What is the Typical Application Process?
Most ride-share companies are similar in their application process. You first fill out an application on their website complete with your name, address, social security number and a description of your vehicle. They will complete a background check to ensure that you do not have a criminal record or history of violence and then they will check your driving record to ensure that you have a record of being a safe driver. After you check out, then it will be up to your vehicle. You will be required to have your vehicle inspected. Uber requires this before you begin driving but Lyft gives you a short grace period after you start driving. The inspection, done by a mechanic, simply ensures that your vehicle is in good working condition and all safety mechanisms work properly.
Driving for Uber, Lyft or another ride-split company can be a fun and exciting experience that can become very lucrative depending on when and where you drive. While these questions are designed to help you make an informed decision, it is also important to check your local requirements as well.