Lyft and Uber are finally allowed to operate throughout the entire state of New York, but not without some limitations. For example, if you want to work for either company in the city, you must carry TLC insurance and comply with the Taxi & Limousine Commission’s minimum coverage requirements.

Since Uber and Lyft drivers must cover their own insurance, it can hurt their bottom line, so drivers should aim to make the most of their time behind the wheel. Below, the friendly team at PFS Group Inc. in Brooklyn, NY, shares how to make the most of your working hours, so you can afford TLC Insurance. 

Utilizing the Bonuses

Uber rates are so cheap that driving for them has essentially become unsustainable in the long run unless you take advantage of the bonuses and incentives they offer. Most drivers are familiar with the sign-up bonuses, but did you know you can also get cash for completing a certain number of trips per week? Although these bonuses are not available in every city yet, Uber is slowly introducing them to give drivers an incentive to continue putting in the hours.

Strategizing Your Driving Times

If you want to maximize your income potential, the easiest way to do so is by driving when there is a high demand for rides. This results in surge pricing, which can double or triple the standard fare. You can expect to see surge rates on holidays, like New Year’s Eve, when demand is at its highest. Even a regular Friday or Saturday night can be fairly busy, though, so try to plan your driving times around prime “socializing” time, which tends to be between 7 p.m. and 1 a.m.

If you’re considering driving for Uber or Lyft in New York, you will need TLC insurance to get started. The friendly team at PFS Group Inc. is happy to help you explore all of your options regarding coverage. Serving clients throughout Brooklyn, Queens, Crown Heights, East New York, and Flatbush, this agency will help you find the best TLC insurance policy for your particular needs. Visit the website to get a free quote for car insurance, and call (718) 385-5300 to speak with an independent insurance agent today.