Rideshare Insurance Market Report 2026

The rideshare insurance market size has grown rapidly in recent years. It will grow from $2.64 billion in 2025 to $2.93 billion in 2026 at a compound annual growth rate (CAGR) of 11%. The growth in the historic period can be attributed to growth of app-based mobility services, increasing number of gig economy drivers, regulatory recognition of ridesharing insurance gaps, expansion of personal vehicle commercial usage, rising accident exposure in ridesharing.

The rideshare insurance market size is expected to see rapid growth in the next few years. It will grow to $4.33 billion in 2030 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to increasing penetration of dynamic pricing insurance, rising use of telematics-based underwriting, expansion of micro-mobility insurance products, growing regulatory clarity across regions, increasing collaboration between insurers and mobility platforms. Major trends in the forecast period include increasing adoption of usage-based insurance models, rising demand for flexible coverage periods, growing integration with rideshare platforms, expansion of real-time risk assessment tools, enhanced focus on driver behavior analytics.

The rising number of road accidents is expected to drive the growth of the rideshare insurance market in the coming years. Road accidents are increasing mainly due to human errors such as speeding, distracted driving, and driving under the influence, along with insufficient road infrastructure and vehicle maintenance. Rideshare insurance addresses gaps in personal auto coverage by providing liability protection during app use, pre-ride periods, and coverage for vehicle damage and injuries while driving for hire. For example, in September 2024, a report by Brake, a UK-based road safety charity, indicated that there were 1,695 road deaths in the UK and 28,967 serious injuries, representing a 10% rise in road deaths and an 8% increase in serious injuries compared to the previous year. As a result, the growing number of road accidents is fueling the rideshare insurance market.

Key players in the rideshare insurance market are focusing on innovative solutions, such as hourly premium calculation models, to offer mobility service providers flexible, cost-effective insurance coverage that aligns with actual service usage and improves operational efficiency. Hourly premium calculation involves determining insurance costs based on the actual number of hours a service is provided, enabling precise and adaptable pricing that matches the time-based use of the insured service. For example, in September 2024, Tokio Marine & Nichido Fire Insurance Co., Ltd., a Japan-based insurance company, introduced a new "Automobile Insurance for Mobility Service Providers" tailored specifically for the Japanese ridesharing model. This innovative insurance solution includes hourly premium calculations and comprehensive coverage to enhance the safety and financial security of drivers and service providers.

In April 2023, Inshur Inc., a US-based insurance technology company, acquired American Business Insurance Services Inc. for an undisclosed sum. With this acquisition, INSHUR aims to leverage the established expertise and client base of American Business Insurance Services (ABIS) to expand its footprint and capabilities across the United States. American Business Insurance Services Inc. is a US-based company that offers insurance for taxicabs, limousines, and transportation network companies (TNC) providers.

Major companies operating in the rideshare insurance market are Allianz SE, AXA Group, State Farm Mutual Automobile Insurance Company, Metropolitan Life Insurance Company, Nationwide Mutual Insurance Company, Allstate Insurance Company, Progressive Casualty Insurance Company, United Services Automobile Association (USAA), Uber Technologies Inc., Government Employees Insurance Company (GEICO), MAPFRE USA Corp., Farmers Insurance Exchange, American Family Insurance Group, DoorDash Inc., Mercury Insurance Group, Sentry Insurance Group, Lyft Inc., New Jersey Manufacturers Insurance Group, Erie Indemnity Company, CC Services Inc. (COUNTRY Financial), Safeco Insurance Company of America, Infinity Property and Casualty Corporation, Esurance Insurance Company, PEMCO Mutual Insurance Company.

North America was the largest region in the rideshare insurance market in 2025. The regions covered in the rideshare insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rideshare insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The rideshare insurance market includes revenues earned by entities by providing services such as personal auto insurance endorsements, commercial auto insurance, contingent comprehensive and collision coverage, medical payments coverage, and liability coverage. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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