California law aims to address ride-share auto insurance

california auto insurance

New law approved in California will have an impact on the ride-share market A new law in California will bring changes to the ride-share industry and how it makes use of auto insurance. Ride-share companies like Uber and Lyft have been at the heart of controversy concerning insurance coverage. These companies provide their drivers with coverage, but only when they are transporting a passenger, not when they are on the way to retrieve that passenger. As such, there may be significant coverage gaps that place drivers at risk  because they…

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UberX generates auto insurance controversy in Canada

auto insurance uber

UberX has received criticism for the insurance coverage it provides its drivers Ride-share company UberX has generated some controversy in Canada concerning auto insurance. Toronto’s taxi industry has voiced concerns about the insurance coverage that UberX provides its drivers. Per the company’s policies, its drivers are not required to purchase commercial auto insurance. There are concerns that the company does not ensure that its drivers have liability coverage either, which could place drivers and their passengers in a risky position in the event of a major accident. All rides on…

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Allstate auto insurance to cover rideshare drivers

Allstate auto insurance Geico

People who are driving with the use of app based services like Uber will now have the insurer’s coverage available. Allstate auto insurance offerings will now be including coverage for drivers who will be using apps such as Uber and Lyft in order to pick up ride sharing passengers in order to earn an income. The auto insurance coverage will come with an average premium of between $15 and $20 per year. The announcement about the new type of Allstate auto insurance policy also explained that the goal of the…

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Farmers offers new rideshare auto insurance policy in California

california auto insurance

Farmers has received approval to offer new insurance product in California Farmers Insurance Group has launched a new auto insurance product in California, with the approval of the state’s insurance regulators. Now, drivers that work for rideshare companies like Uber and Lyft will be able to obtain more coverage, protecting them from potential worst-case scenarios. The coverage is designed to address gaps in the coverage that these companies provide, though both Uber and Lyft claim that such gaps do not exist. Both companies have received some criticism for what is…

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Uber auto insurance bill makes its way through the Florida Senate

Florida Auto Insurance

A new plan has focused on app-based ride sharing transportation services. An auto insurance plan that concentrates on the coverage requirements for app-based ride sharing transportation services such as Lyft and Uber has now made its way through the Senate and has now stepped into the House in Florida. In the Senate, the ride share insurance bill, SB 1298 by Senator David Simmons, was passed by a vote of 28 to 12. The bill requires that these transportation network companies (TNC) that offer ride share programs, will need to obtain…

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Legislation in Georgia increases auto insurance requirements for ride-share firms

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Legislation requires ride-share companies to improve their auto insurance policies New legislation in Georgia will require ride-sharing services Uber and Lyft to increase their auto insurance coverage. The legislation, called House Bill 190, won the approval of the state’s House of Representatives and is currently awaiting the signature of Governor Nathan Deal before it can be enacted. Ride-share companies have become a hot topic in the insurance space, as well as in the transportation services industry. These companies offer inexpensive transportation, but there have been concerns that the auto insurance…

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New auto insurance requirements could be imposed on ride-share services

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Uber and Lyft could have to comply with new auto insurance requirements, pending legislation New auto insurance requirements may put some pressure on ride-share service, such as Uber and Lyft. The Senate Banking and Insurance Committee has supported new legislation that would introduce new requirements on companies that use mobile applications to connect drivers with passengers. These services have become quite popular in large cities and serve as an alternative to taxis. Over the past year, these services have been the subject of concern because of the auto insurance coverage…

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