Live Insurance News

Rideshare insurance effort grows in California

June 16, 2014June 14, 2014 G. Turner

The state is working to boost the coverage requirements for companies such as Lyft and Uber. California may soon require that rideshare insurance minimum coverages be considerably higher than they currently are, in order to give greater protection to riders as well as to make liability a great deal clearer when accidents do occur. A recent proposal would change the current regulations to a minimum of $1 million in coverage. The proposal was created by the California Public Utilities Commission (CPUC) and would require rideshare insurance to be comprised of…

Auto insurance gap for ridesharing closed by Uber

March 18, 2014March 15, 2014 H. Cutner

Drivers participating in the program can now do so with greater confidence with better coverage. The popular Uber ridesharing program has now broadened the auto insurance coverage that it is offering its drivers, in order to help to ease the concerns of American lawmakers and regulators, and to help to ensure that these services will be used on a broader scale. This type of ridesharing program allows the use a smartphone app to find a ride. The drivers in these ridesharing programs aren’t usually professionals, but are typically regular licensed…

California insurance regulator issues warning about ride sharing coverage

February 10, 2014February 10, 2014 Julie Campbell

Companies offering these programs such as Lyft, Uber, and Sidecar claim that their policies don’t have gaps. According to a California insurance industry regulator, there could be some coverage issues faced by participants in the state’s ride sharing programs if they should ever find themselves in the tragic circumstance of a deadly accident. There have been gaps pointed out in the policies of these high tech carpooling systems. At the same time, Lyft, Uber, Sidecar, and other companies that are offering this type of environmentally friendly, affordable program continue to…