Ensure that your ridesharing is covered with the right insurance!
Uber. Lyft. Sidecar. These ridesharing companies have become a staple in modern transportation. While they might be great to use to get from point A to point B, insurance coverage can be dicey. When it comes to ridesharing, a regular auto insurance policy doesn’t give you the coverage you need.
When driving for a ridesharing company, there are three periods in which you need insurance coverage. The first period occurs when a driver is driving around waiting to pick up a passenger. The second period occurs when the driver accepts a passenger and is en route to pick them up. The third period occurs once the passenger is in the car and the driver is en route to the destination. Coverage is needed for all three periods. While the second and third periods are covered by most ridesharing policies, many drivers are on their own for the first period. Unfortunately, your personal policies don’t give coverage in the event that you’re involved in an accident. Make sure you’re covered with a special ridesharing policy or an endorsement to your current coverage.
Ridesharing policies are separate from your personal auto policies. They give you the coverage you need when driving for a ridesharing company. Just keep in mind that these ridesharing policies are used in place of your personal auto policy. While you can’t keep both, your ridesharing policy will give you enough coverage to cover your personal driving as well.
An endorsement is a change to your coverage whether you expand or restrict coverage. In the event of ridesharing coverage, you get expanded coverage. While endorsements can offer excellent additional coverage, be sure to check with your insurance provider. Keep in mind that not all carriers provide such endorsements.
When it comes to your auto insurance, make sure that you have the right coverage. Be sure to contact the professionals at Weaver & Associates Inc. Our team in Arcadia, California provides you with dedicated service and insider expertise when finding the best personal and business insurance for your needs.