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Ridesharing Insurance Coverage: To Be or Not To Be?

Posted on: June 2, 2015 by titan-goodrich

If you’ve used a cab service any time in the last few years, it’s quite possible you’ve heard of Uber or Lyft, the newest installment of taxis: Ridesharing. These controversial yet increasingly popular forms of transportation are stirring up the insurance industry due to coverage disputes and pricing. What’s covered? What’s not? Does the insurance policy differentiate between having a passenger or not? These might be daunting questions but with local Newport News Auto Insurance, your needs for coverage and safety are managed, though it’s imperative to speak to your insurance agent about policy specifics.

Ridesharing is a short notice, one-time carpool ride. Companies like Uber and Lyft allow drivers to work independently and drive their own personal cars for business. However, the problem lies with the debate over the “coverage gap” in between passengers. Although in-app sign in is required for operation, insurers and rideshare companies are in limbo of who is responsible during this period in the event of an accident or damage to the vehicle and/or a person.

Recent Virginia legislation has opted for such ridesharing companies to operate legally, according to The Washington Post.  As long as the drivers are background checked, drug free, and have valid personal auto insurance, their operating permit will be effective.  Because these policies need to be specific and depend largely on your personal circumstances, it’s best to get an informed quote from your local Newport News Insurance company.

At Goodrich & Watson, we understand that every auto insurance policy needs to be tailored to each individual. Whatever your auto insurance coverage needs may be, our specialists can help you customize your Newport News Personal Insurance policy. Contact us today at (888) 829-5004 to review our other offerings and solutions.

Posted in: Auto Insurance blog Newport News

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