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Uber and Your Auto Insurance Policy

I guess we have all heard about Uber!! This worldwide billion dollar company is certainly making the headlines! Uber is one of the Transportation Networking Companies that provides pre-arranged transportation services for compensation by using a smart-phone application to connect passengers with drivers using their personal vehicles. This is commonly known as ridesharing and sort of takes the place of a taxi.

If you consider becoming a Uber driver, and many college age students are being solicited to be drivers, you should be aware that your personal automobile insurance policy may not provide coverage while the vehicle is being used for ridesharing. Most insurance companies include in their policy an exclusion that applies when a vehicle is used to transport people or property for hire.

The Rideshare company (like Uber) probably offers supplemental liability insurance to the driver while operating the vehicle as a rideshare. However, this insurance more than likely does not apply to property damage to your vehicle. It would also probably not provide coverage for medical bills to you as the driver or to your passenger.

Do your homework before signing up as a rideshare driver. Read your auto policy or ask your insurance agent if your policy will provide coverage.



Posted Tuesday, March 03 2015 9:36 AM
Tags : Auto Insurance, Ridesharing

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