Tag: lyft

Auto insurance offered for ride share drivers by USAA

Julie Campbell
auto insurance ride share

The insurer based in San Antonio has released a statement that said it would extend a driver’s existing policy. USAA has now announced that it will be giving drivers for ride sharing programs, such as Uber and Lyft, the opportunity to extend their current auto insurance in order to protect them while they are with a fare. This coverage would broaden the deductibles and the coverage for a nominal additional monthly fee. According to the auto insurance company, the expanded coverage would cost an additional $6 to $8 on average.…

Read More

Auto insurance limit increase sought in NJ for Lyft and Uber

Julie Campbell
Minnesota auto insurance company rates

Rideshare companies and their coverage limits were the focus of a bill that has been discussed in New Jersey. Lawmakers in New Jersey have been discussing an auto insurance bill, this week, that has been focused on increasing the coverage limits that will be required of ridesharing services in the state, such as Lyft and Uber. At the start of the week, a spokesperson from Uber said that its reps would be present in order to testify. Those Uber representatives spoke before the New Jersey Senate Transportation Committee. The bill…

Read More

Auto insurance silence remains commonplace among rideshare drivers

H. Cutner
auto insurance fraud

Many participants in these programs are confused about the rules and are uncertain as to what to tell insurers. Despite the fact that the regulations with regards to the auto insurance coverage required by the drivers for rideshare programs such as Lyft and Uber have improved throughout 2014, and many cities have legalized the mobile app based transportation service, Forbes recently reported that many drivers are perplexed by the mixed messages that they have received and continue to opt for silence when it comes to informing their insurers. This is…

Read More

Ride-share companies may have trouble with auto insurance gap

Logan B.
california auto insurance car

Insurance gap could threaten the future of ride-share companies as they continue to juggle financial risks and liability issues Ride-share companies are becoming more popular and they are beginning to feel pressure to address the insurance gap problem they have. The insurance gap has the potential to threaten the future of ride-sharing and if companies cannot find an effective way to address the issue, they may find it difficult to continue operating in some states. The problem stems from the relative youth of the ride-share sector. Because ride-sharing is so…

Read More

Auto insurance at Lyft to be put to the test following tragic accident

Julie Campbell
auto insurance uber

A fatal crash in California will be the first to reveal the way in which the $1 million policy provides coverage. The ride share company, Lyft, which was first founded in 2012 and that has moved into 20 cities has been facing some controversy with regards to the auto insurance coverage that protects the company, its drivers, and their customers, and now it will be put to the test. Near Sacramento, California, there was a fatal accident on Halloween involving a Lyft driver. This represents the first time that the…

Read More