With so many drivers and riders taking advantage of the opportunities and great services now being offered by Transportation Network Companies (TNC) like Uber and Lyft, getting around is becoming more and more flexible. People have restructured the way they live and move around these amazing new services. Many people have stopped to reconsider if they even need to buy a car, and just rely on public transportation for daily commutes, and TNCs for vacations, holiday, special events and more.
And while this emerging paradigm is redefining how we get from place to place, one thing that has struggled to keep up is insurance for these service drivers. Typically personal auto insurance coverage will not cover drivers or their vehicles while engaged in business use. Business insurance can be expensive, can miss some of the gaps in coverage unless you know exactly what you need, and continuing to cover your vehicle for personal use, can get get pretty complicated.
But now, California TNC drivers can have a product that was built just for them. Mercury Insurance has a great new product in California for Ride Hailing Drivers. Some of the key features include:
Ride-hailing is divided into three phases:
- Phase one: Drivers have turned on the ride-hailing app, but haven’t accepted a fare
- Phase two: Drivers have accepted a fare and are on their way to pick up the passenger(s)
- Phase three: Drivers are transporting passengers to their destinations
Mercury’s ride-hailing insurance will cover drivers during the first phase of their trip. This coverage is not provided by personal auto policies and the TNCs provide very limited coverage during this phase, too. This means that if drivers get into an accident during phase one, they will have to pay to repair any damages to their vehicles and the TNC liability coverage is capped at $50,000 per person and $100,000 per accident for injury to others. Mercury’s ride-hailing insurance will provide additional coverage above and beyond the TNC coverage and also fix the insured’s vehicle in a covered loss if those coverages had been purchased from Mercury.
So Uber and Lyft drivers – we can place your coverage and make sure that you, and your property, are protected – and for less! We’ve been finding great coverage for Ride Hailing Drivers with Mercury, and the results in savings and protection are putting smiles on California drivers’ faces. We’d love to show you how much you can save, and make sure that you have the perfect coverage. Give us a call in California at 800-486-1866 and we can get you started today.