Enrolling in a Transportation Network Company (TNC), such as UBER or Lyft, seems to be a great, easy, and convenient way to make money. But do you have the right protection for your vehicle? Before embarking on this exciting new endeavor it is important to note that car insurance is an essential and vital element that needs to be seriously considered before you enter into the business of ridesharing. Unfortunately, lack of information is a major reason many people do not have adequate insurance for ridesharing. This can expose them to serious financial risk the moment they have an accident and find out too late that their auto insurance is not covering the claim because they have violated the rules of the policy.
We, at Clover Insurance Agency, want you to feel safe and secure as we will provide you the right coverage for your needs. Therefore, we have added companies that will insure you properly and provide you with the peace of mind you need in order to pursue your goals in this new business venture.
For more details about Rideshare Insurance send your details and we will get back to you.
What is rideshare insurance?
Rideshare insurance provides you coverage while your vehicle is being used for personal purposes only. Transportation network companies have their own Liability and Comprehensive & Collision coverage that provide coverage while you have a passenger or when your app is on waiting for a travel order.
Who needs rideshare compliance insurance?
Any person who signs up with any TNC needs to obtain rideshare compliance insurance, regardless of the amount of hours they drive a week. Most personal auto insurance policies do not accept Uber or Lyft drivers; therefore, we encourage you to speak to your agent to find out if you have proper protection.
How do I know if I have the right protection?
Be aware, most insurance companies have specifically listed on their application that any type of business or commercial use of your vehicle is not acceptable; therefore, they have the right to void your policy or deny coverage if any part of their underwriting guidelines is violated. It is vital that you contact us immediately if you are using or planning to use your vehicle for such purposes.
We now have a variety of companies and coverages that will provide customized protection based upon your situation.