Direct Insurance Coverage Available for Lyft Drivers and passengers in Oklahoma, Louisiana, Alabama, Mississippi, S. Carolina and Tennessee.
Ridesharing continues to surge in popularity. As the industry grows, it’s revolutionizing the mobility and transportation space. This means there are evolving liability insurance needs for drivers.
October 1, State Farm® will serve as the exclusive insurance provider for Lyft and their drivers and passengers in Oklahoma, Louisiana, Alabama, Mississippi, S. Carolina and Tennessee.
Under the policy, Lyft drivers are covered from the moment a driver turns on the Lyft app to wait for a trip request, while driving to pick up a rider and until the trip ends. Lyft riders are also protected during the trip.
State Farm History Supporting TNC (Transportation Network Companies) Drivers
- 2015: State Farm worked with others to set consistent and modern insurance regulation for TNC services. It supported the growing industry and created a framework to protect consumers.
- 2016: State Farm launches the Rideshare Endorsement. It is now available in 46 states and the District of Columbia. With the endorsement, State Farm customers extend their personal auto policy to fill coverage gaps.
- 2019, State Farm worked directly with Lyft to provide direct insurance coverage to Lyft drivers and riders in Georgia, Texas and Arizona.
Working with Lyft allows State Farm to meet today’s insurance needs and explore future opportunities. It brings nearly 100 years of insurance experience to protect Lyft drivers and riders from the unexpected.
For over 100 years, the mission of State Farm has been to help people manage the risks of everyday life, recover from the unexpected and realize their dreams. State Farm and its affiliates are the largest providers of auto and home insurance in the United States. Its more than 19,400 agents and 67,000 employees serve over 91 million policies and accounts – including auto, fire, life, health, commercial policies and financial services accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 44 on the 2023 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.