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Insurance Loopholes with Ride-Sharing Services

INSURANCE LOOPHOLES with RIDE-SHARING SERVICES WHAT IS RIDE-SHARING? Ride-sharing services arrange 20 one-time car rides on very short notice for a fee. Typically, drivers use their STATES nationwide have issued warnings on the potential insurance gaps own cars. associated with these services. CAR INSURANCE POLICY INSURANCE LOOPHOLES: WHAT YOU NEED TO KNOW PERSONAL POLICIES Your personal If your ride-sharing app is on and you Violations and policy probably $ accidents that are providing a ride or available to provide a ride, you are probably not covered by your happen while driving for a ride-sharing won't cover damages or losses when your car is service could being used for ride-sharing. raise your personal insurance. personal rates. RIDE-SHARING SERVICE POLICIES Ride-sharing services do provide some Ride-sharing services may only Ride-sharing services coverage-but it's likely not enough or pay a claim after may not offer your personal may present significant gaps, leaving you personally responsible. insurance declines adequate coverage, causing delays. limits for your case. If damages exceed the ride-sharing service policies coverage limit, you're responsible for paying the Deductibles vary and may be as high as $1,000, which may Coverage may be less if your ride-sharing app limit the total is on but you do amount available to not have a repair or replace passenger in the car. your car. difference. DANGERS ON THE ROAD Distracted driving is a real threat with Follow ride-sharing. DRIVERS ARE EXPECTED TO: the GPS Monitor for Locate the next passengers customer Navigate unfamiliar These distractions greatly increase the risk of road roads violations and accidents! TIPS TO STAY PROTECTED If you do ride-share, make sure to talk to your insurance agent to Don't make Make sure you know what your personal policy covers-many ensure you the mistake purchase the of leaving BIDE correct insurance your Massachusetts insurers will deny your personal claim if you use your car for a fee. to cover what the ride-sharing ride-sharing app's app on when it's not in use. policy will not. Sources: http://www.whosdrivingyou.org/uploads/2/5/1/4/25145532/231481854-doi-consumer-alert-car-sharing_1.pdf ARBELLA http://www.propertycasualty360.com/2014/12/01/grappling-with-ridesharing INSURANCE

Insurance Loopholes with Ride-Sharing Services

shared by visually on Jul 16
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Educate drivers and independent insurance agents on the insurance risks of using a ride-sharing or car-sharing platforms.

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Transportation
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