The present landscape for Uber and other ridesharing companies is in the midst of rapid change. The field became a popular choice, so quickly, that legislation has not really had the chance to adapt right now. This is something which happens across all new and quickly evolving industries, of course.
However , new laws are being put in place in several different locations, with others surely to follow suit in the near future. You need to understand what’s taking place, and how it affects Uber drivers and their own need for insurance.
As of now, Uber motorists are left with only contingent coverage when they are driving along the way to pick up a passenger but are deprived of the passenger in the vehicle. This puts them in a precarious position, and lots of don’t understand that their personal auto policies won’t cover this, and could in fact actually void their policy for it. At the same time, Uber’s contingent coverage may not kick in.
Therefore , ridesharing motorists need gap or hybrid insurance policies to fill in the blanks in between when they’re operating their car for personal usage and when they’re working in a commercial fashion.
California was the first state to pass legislation which usually mandates that drivers obtain their own commercial insurance policies, designed to fit that unique need. California also developed new industry classification for Above all and ridesharing drivers and companies, TNCs, or Transportation Network Businesses. Colorado has its own TNC legislation as well.
In the state of Florida, legislation is being passed on a local level. Palm Beach Country just arrived at a temporary agreement to allow for the continuing operation of Uber and other ridesharing companies, with a permanent agreement along the way which would also likely have an insurance coverage mandate. Similar fights are occurring across the rest of the country as well, through the Washington, D. C. metro area, to Portland, Oregon, and assuredly many stops in between.
The most important thing is to make sure you’re fully educated plus informed about what’s happening.
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Misrepresenting to your personal auto insurance company what you do, or lying and saying a person rideshare, is not only illegal in most cases yet could also leave you at serious danger in the event of a major accident.
Speak to an insurance plan expert in your local area who is aware of the current and upcoming legislation inside your city, county and state. He or she should be able to get you moving in the right direction, and find you the right type of insurance for Uber drivers and other ridesharing providers.
John Rothschild is the owner of ACI Insurance Services, a leading provider of Florida commercial auto insurance for more compared to 10 years. ACI is known for their customer support, their extensive experience and understanding of the industry, and their affordable rates, and they’ll do everything they can to satisfy the needs of their clients.