PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1739235
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1739235
Global Rideshare Insurance Market to Reach US$4.7 Billion by 2030
The global market for Rideshare Insurance estimated at US$2.5 Billion in the year 2024, is expected to reach US$4.7 Billion by 2030, growing at a CAGR of 10.8% over the analysis period 2024-2030. Liability Coverage, one of the segments analyzed in the report, is expected to record a 12.3% CAGR and reach US$1.8 Billion by the end of the analysis period. Growth in the Collision Coverage segment is estimated at 8.3% CAGR over the analysis period.
The U.S. Market is Estimated at US$694.6 Million While China is Forecast to Grow at 14.9% CAGR
The Rideshare Insurance market in the U.S. is estimated at US$694.6 Million in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$983.5 Million by the year 2030 trailing a CAGR of 14.9% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.6% and 9.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.5% CAGR.
Global “Rideshare Insurance” Market - Key Trends & Drivers Summarized
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 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.
SCOPE OF STUDY:
The report analyzes the Rideshare Insurance market in terms of units by the following Segments, and Geographic Regions/Countries:
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.
Select Competitors (Total 32 Featured) -
TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.
We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.
We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.
As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.
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APRIL 2025: NEGOTIATION PHASE
Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.
JULY 2025 FINAL TARIFF RESET
Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.
Reciprocal and Bilateral Trade & Tariff Impact Analyses:
USA <> CHINA <> MEXICO <> CANADA <> EU <> JAPAN <> INDIA <> 176 OTHER COUNTRIES.
Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.
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