How to Find an Uber Friendly Insurance Company Before Buying Your Cars
You may have heard this interesting fact, or rather scary gap, when you first spoke to an Uber driver – that they do indeed have automobile insurance for when you, the rider, were in their car and on an active uber ride, but that their car and they as an Uber driver were not covered between rides, on their way to get you, or on the way to their next fare. If that’s true, that is a lot of time of being on the road whilst not covered by insurance!
As an entrepreneur with a fleet of Uber Cars, you not only get to peek behind the curtain, but it is actually urgent that you are well aware of all the possible dangers (Uber Insurance Issues) and investment pitfalls that accompany ownership.
It is also important to separate fact from fiction. As an owner, you need to be sure you are always on the leading edge of information in this new and continuously expanding marketplace. The most important new fact is that thankfully, and likely because there is money in it, the industry is actually keeping pace with technology.
While it was true that in previous years to be fully covered any time one of your driver’s was behind the wheel you needed to have the total coverage and very costly professional commercial automobile insurance. Most owners found this to be priced far outside of their budgets as small business owners, given that commercial coverage is intended for large transportation firms.
Fortunately, several large carriers across the United States have recognized this gap in coverage and created a mid-level market for insurance, now effectively called ‘Rideshare Insurance’. Not every company offers this coverage yet. Some carriers, who might not approve of commercial for individually owned cars, may never offer it, but the good news is that we have found the market to be expanding and meeting this need.
You should begin by contacting the automobile insurance carrier or broker with whom you have an existing relationship. Even if that is just on your personal policy, which won’t be associated with your Uber fleet, it is well known that having some kind of driver or paying history will be of benefit to you when applying. Our uber kit offers you links and contact information for the carriers that have been successfully used for Rideshare Insurance policies. We encourage you to start your ownership responsibly with companies who want your business and understand your needs.
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