Have you ever used Uber or Lyft for transportation? As a leading replacement for the taxi, rideshare companies like Uber and Lyft are renovating the public transportation industry. They offer competitive pricing with personalized pick up, all coordinated on your smart phone. Many people are unaware of the requirement for additional coverage for rideshare drivers.
There are around 3,000 rideshare drivers serving the state of Colorado. A new law was enacted that required rideshare drivers to have specific coverage during the “gap” time waiting for a passenger. We offer new coverage for those drivers to comply with rideshare laws.
Effective February 16, 2015, our clients have the opportunity to add an endorsement to their own personal auto policy. We are excited about providing rideshare coverage to our clients. We are is leading the advancement of rideshare coverage in Colorado. Our business works to cater to our client’s changing consumer needs. We offer our clients a reasonable, competitive price. For rideshare drivers, the new addition to your personal auto policy can guarantee coverage. If you are looking to add the rideshare coverage to your policy with an average of only 25% increase in your premium cost.
“Farmers is leading the industry by being among the first to create a personal auto insurance offering specifically tailored to ridesharing drivers. This new offering demonstrates their commitment to addressing the needs of a growing marketplace and their willingness to embrace ridesharing as an important transportation option in cities across the nation. We are excited to share the news of this innovative product with our partner drivers,” said Will McCollum, general manager of Uber Colorado.
If you are interested in learning more about additional coverage, please feel free to call our office at (719) 593-9916. We would be happy to answer any questions that you have and to personalize your auto policy.
If you or someone you know is a rideshare driver, please allow us to ensure your policy has sufficient coverage.
The Denver Post. “Rideshare Drivers Get Insurance – Gap Option- at Up To 25% Extra”. January, 2015. http://www.denverpost.com/
Farmers News Release. “Farmers Insurance Enters Rideshare Market”. January, 2015.
Insurance Journal. “Farmers Introduces Rideshare Coverage in Colorado”. January, 2015. http://www.insurancejournal.