Ridesharing companies are fairly new yet, in fact Lyft and Uber have only been in La Crosse since late February and early March. They are a great way to utilize the technology at our fingertips to order up a ride. Although, for programs like these to work there have to be people willing to use a personal vehicle to transport others. The perk for their willingness to “share” their vehicles is earning a bit of cash. However, most insurance companies have limitations or exclusions to this type of ridesharing. If you choose to use your personal vehicle for this service it is important to know what auto coverage is available to you through your insurance carrier and the ridesharing company. It is also important to then know where the gaps in coverage are and what to do about it.
This article from Acuity’s blog series focus explains the process of ridesharing and areas your insurance might be lacking. If you are a driver for either of these companies, it might be a good idea to give your insurance agent a call.
Source: focus, “Insurance Tips for a Ridesharing Driver” – Lisa D.