Live Insurance News

Farmers offers new rideshare auto insurance policy in California

June 3, 2015June 1, 2015 S.Vagus

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…

Uber auto insurance bill makes its way through the Florida Senate

April 28, 2015April 25, 2015 H. Cutner

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…

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

April 7, 2015April 5, 2015 Logan B.

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…

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

March 26, 2015March 24, 2015 Marc

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…

Lyft driver insurance is available from Progressive

March 17, 2015March 14, 2015 Julie Campbell

This unique coverage is a part of a pilot program that will start being sold in Pennsylvania. Progressive has recently announced that it is launching a new Lyft driver insurance program that will be available as a part of a pilot test in Pennsylvania, and that it is exclusive to that ride sharing program. This special form of auto insurance coverage will not extend to drivers with the much larger Uber company. This Lyft driver insurance program is a first of its kind and was just rolled out by Progressive…