Rideshare Insurance - Global Strategic Business Report

The global market for Rideshare Insurance was valued at US$2.5 Billion in 2024 and is projected to reach US$4.7 Billion by 2030, growing at a CAGR of 10.8% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Rideshare Insurance market.

Global “Rideshare Insurance” Market - Key Trends & Drivers Summarized

Why Is Rideshare Insurance Gaining Importance in a Gig-Driven Economy?

Rideshare insurance has emerged as a critical financial safety net for drivers navigating the evolving landscape of the gig economy. With platforms like Uber, Lyft, and others facilitating millions of trips daily, standard personal auto insurance often falls short in providing comprehensive coverage for rideshare activities. This gap has led to the rapid development and adoption of specialized rideshare insurance policies that cover periods when drivers are logged into apps but not actively transporting passengers. These hybrid policies offer flexible, tiered coverage models that bridge personal and commercial insurance boundaries. As gig work becomes a primary or supplementary income source for a growing segment of the population, the importance of tailored insurance products is intensifying. Regulatory bodies in various regions are also instituting requirements for rideshare-specific coverage, further driving policy adoption. Additionally, consumer expectations around safety and liability have risen, prompting rideshare platforms to enforce insurance standards for driver-partners. Innovative underwriting models using telematics and usage-based data are helping insurers assess risk more accurately and price policies competitively. These trends collectively position rideshare insurance as a key enabler of the platform economy, protecting both drivers and passengers.

The Growth in the Rideshare Insurance Market Is Driven by Several Factors

The rideshare insurance market is expanding due to distinct changes in technology, workforce patterns, and legal frameworks. The explosive growth of the gig economy, where millions depend on ridesharing for income, has created a pressing need for specialized coverage that traditional auto insurance does not offer. Increased vehicle utilization and the on-demand nature of driving require insurance policies that can adapt in real time, spurring demand for usage-based and telematics-powered models. Regulatory mandates in many jurisdictions now require app-based drivers to carry commercial-level insurance, boosting policy volumes. The rise in accident-related claims involving rideshare vehicles is also prompting platforms and drivers to secure more comprehensive protection. Additionally, as consumer expectations around safety and accountability rise, rideshare companies are incentivized to partner with insurers that offer transparent and reliable coverage. Advances in digital platforms and mobile app integration are streamlining policy management, making it easier for drivers to purchase and manage insurance. Growing competition among insurers is driving innovation in pricing, policy structure, and claims handling. Furthermore, the emergence of multi-modal mobility, including electric vehicles and micro-mobility options, is broadening the scope and complexity of required coverage. Together, these factors are reshaping the rideshare insurance market into a critical pillar of the digital mobility ecosystem.

Report Scope

The report analyzes the Rideshare Insurance market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments: Coverage (Liability Coverage, Collision Coverage, Underinsured / Uninsured Motorist Coverage, Comprehensive Coverage, Other Coverage).

Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Liability Coverage segment, which is expected to reach US$1.8 Billion by 2030 with a CAGR of a 12.3%. The Collision Coverage segment is also set to grow at 8.3% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $694.6 Million in 2024, and China, forecasted to grow at an impressive 14.9% CAGR to reach $983.5 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Rideshare Insurance Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Rideshare Insurance Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Rideshare Insurance Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as Allstate, American Family Insurance, Buckle Insurance, Erie Insurance, Esurance and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 32 companies featured in this Rideshare Insurance market report include:

• Allstate
• American Family Insurance
• Buckle Insurance
• Erie Insurance
• Esurance
• Farmers Insurance
• GEICO
• Inshur
• Liberty Mutual
• Mercury Insurance
• MetLife
• Nationwide
• Progressive
• Safeco Insurance
• State Farm
• The Hartford
• Travelers
• USAA
• Zego
• Zurich Insurance Group

Tariff Impact Analysis: Key Insights for 2025

Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.

The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.

What's Included in This Edition:

• Tariff-adjusted market forecasts by region and segment
• Analysis of cost and supply chain implications by sourcing and trade exposure
• Strategic insights into geographic shifts

Buyers receive a free July 2025 update with:

• Finalized tariff impacts and new trade agreement effects
• Updated projections reflecting global sourcing and cost shifts
• Expanded country-specific coverage across the industry