Extended Warranty for Uber and Lyft Drivers

Driving for a rideshare company such as Lyft or Uber can be a great way to earn extra money or even earn a living if you’re in the right location. You can set your own hours and work as much or as little as you want, but there are a few downsides to the position.

One major issue you may experience is with your vehicle’s warranty, which generally does not extend to vehicles used in business. If this is the case for you, there are options available in the form of extended warranties for rideshare drivers. Let’s take a closer look.

Is an Extended Warranty Available for Rideshare Drivers?

Not all that long ago, it was nearly impossible for individuals to purchase an extended warranty for vehicles used in rideshare driving, but that has changed. Now, several companies offer extended warranties for rideshare drivers, including some companies that are exclusively operating in the rideshare vehicle warranty space.

Pros and Cons of Warranty for Rideshare Drivers

How Much is an Extended Warranty?

The costs you pay for an extended warranty depend on factors that include the make and model of the vehicle, the age of the vehicle, and on the type of coverage you select. Companies sampe advertised pricing starts at:

• Rideshare Knight: $36 per month
• Protect my Uber: $100 per month

It’s worth noting that Protect my Uber is owned by CarShield Reviews, Cost and Pricing 2021, a popular extended warranty company. Another company, Endurance, offers coverage for Uber and Lyft drivers at the same cost as their normal extended warranty coverage services.

Not all companies operate in all states and there is a wide variety of coverage options and exclusions. It’s important to understand what is available to you and to be aware of any restrictions on use of the warranty before hitting the road.

Is an Extended Warranty Worth It for Rideshare Drivers?

An extended warranty can be worth its weight in gold for the right driver and the right vehicle, but they won’t offer the same value to every customer. If you rely on the vehicle you use for ridesharing as your personal everyday vehicle, it could be well worth the cost to add an extended warranty to prevent you from being without wheels if something breaks.

On the other hand, if your rideshare vehicle is a spare or not used regularly otherwise, the choice may tilt the other way. No matter how you use the vehicle outside of ridesharing, you’ll be racking up miles at a faster pace running rideshare or delivery services, so your vehicle will likely need maintenance earlier and more frequently than if it was for personal use only.

What Type of Plans are Available?

Just like extended warranties for non-rideshare vehicles, the plans that are available for rideshare drivers typically come in a few different flavors. In general, you will find coverage broken down into tiers, such as:

• Bronze/Basic: Powertrain components, such as the engine, transmission, drive axle, and transfer case
• Silver: Powertrain plus seals and gaskets, electrical, steering, air conditioning, suspension, and brakes
• Gold: All previous coverage items, plus electronics, climate control functions, and fuel delivery systems

For more information on the extended warranty industry, check out our Extended Warranties Insider’s Guide and our top picks for the Best Extended Warranties available in the industry today.