You love your car but its annual maintenance cost is making your head turn. You start thinking about the options to lower the costs. Ridesharing is one option where you can use your car to earn some extra money. This will help you to stop worrying about your car maintenance costs and also help you to start making more money. Great, isn’t it?
1- You Must Have a Rideshare Insurance Policy
Every driver must be full aware about certain things related to rideshare insurance. You don’t automatically have a full insurance coverage if you use your car for ride sharing services such as Uber and OLA. The rideshare firms may not tell you about this but the potential for coverage gap is huge.
Most drivers assume that they don’t need to take an additional insurance coverage because their existing policy will cover it but this is totally wrong. It is also important to note that the ride sharing companies like Uber and OLA will not provide you with the required insurance cover in case you run with an accident! This is the reason, it is extremely important to have a rideshare insurance policy.
2- You Need to Pay Taxes On Your Income
When you start driving for ridesharing companies, you are not their employees meaning you need to file income tax on your own.
You need to plan ahead of your taxes on your driver pay. Nowadays, tax planners can easily guide you through the process but make sure to preplan your tax return in advance in order to avoid last minute hassles.
3- You Must Take a Test Ride
Always take a test ride before you take your first ride with the passenger because there are several technical formalities you need to complete right from the ride start to finish.
Most of the notable ridesharing companies have provided a brief regarding how to use their apps while driving on the road. Make sure to read the below guides:
4- You Must Buy a Phone Mount
Having a phone mount can save you from a lot of hassles related to navigation. If you don’t have a phone mount then you might drive dangerously because your eyes will juggle between the phone screen and the road.
Make sure to mount your phone within your peripheral vision so that your focus remains stable and you are able to have a clear view of the road.
5- You Must Try Driving During The Weekends Or In The Evenings
You will enjoy your trip as a rideshare driver if you ride the car when people are happy. If you drive early in the morning, most of us are going out for work, means we are not in a relaxed state of mind. But, during the weekends or in the evenings, we are mostly going out with our family or friends and our mood is relaxed. Hence, you will enjoy happy rides if you avoid the mornings.
Final Thoughts
Everyone is looking to earn some extra money and ridesharing companies has given every car owner a huge opportunity to increase their monthly income. If you enjoy driving or wish to lower your car maintenance costs, becoming a rideshare driver is the best option for you. Always follow the above guidelines before you join your duties. Happy driving!
