What type of coverage do you need?

Obviously insurance is mandatory when driving for a Ride-Sharing company like IHail,  Lyft, and Uber.  

But did you know that if you don't get Ride-Sharing insurance coverage, you might be in for a BIG mistake.  

We all understand that when your Ride-Sharing app is on and with a passenger in route, you are covered.  But how much?  Has any of these ride-sharing companies ever shown you the coverage's?  Most taxi's driver's have to get a minimum amount of liability coverage which is around $150,000 per person, (short meaning... in the event of an accident, all parties involved are covered medically).  

 But what happen's when you have the app on, and there is no passenger in the car and you get into an accident?  Does your normal insurance cover it?  Well they should of course.  And in most cases, you probably won't tell your insurance that you were ride-sharing at that moment, trying to save you the hassle of telling them after the fact. 

But here's a scenario..  You are Ride-sharing one day, you get into an accident with a passenger in the vehicle, you do all the proper procedures, report it to the ride-sharing company, your insurance, police report has been made, etc.  Your thinking the Ride-Sharing company will at least cover most, if not all of the damages.  The next day or so, your personal Insurance Company contacts you and informs you that you are NOT COVERED!  That's right, You are not covered, because you were Ride-Sharing, and your policy states that you use your vehicle for pleasure and not for business.  So now your hoping that the Ride-Sharing Company will cover everything.  And here's an additional kicker, you get a letter in the mail stating that your Insurance company has now DROPPED you!  Yes that's right, your insurance company has the right to drop you like a heavy bag of dirt.  Why?, Because you didn't inform them that you were Ride-Sharing and driving around the town like a chauffeur.  

Now, more miles = more risk, more risk = higher premium.  We all understand that, but insurance companies are not the bad guys here,  they are just covering their butts as well.  Yes you didn't tell them, afraid that your rates would sky rocket, and then that damn accident happened, and now all hell breaks loose.  Just so you could make some extra money.  

Now with Ride-sharing being so new, not all insurance companies carry Ride-sharing insurance, so you have to be careful and either tell your insurance company, or shop for a new one.  

But we are here to let you know that, Ride-Sharing insurance rates are NOT THAT EXPENSIVE!!  They average around $8.00 extra a month onto your policy.  This is not a significant increase, but a significant coverage gap, that can be avoided.

Whether, just Ride-Sharing Part time or Full Time, please protect you and loved ones!

Posted 11:58 AM

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