26 Nov Services for Ride Sharing – Like Lyft and Uber
So you decided to sign up to make some money on the side and be an Uber or Lyft driver, (or other for-hire service) called transportation network companies (TNC)
You read your contract and think that you have coverage.
Did you know that you need to notify your auto insurance carrier that you are using your car for TNC? Most personal auto policies exclude business use. But you can add it back on to your policy, you just need to notify your agent or carrier. Most likely, there will be a charge for it.
One may say, but, my TNC company has a policy and I am covered. Yes, you are correct, you have coverage under the TNC policy as long as you have a passenger in your car. to and from the ride you do not have coverage with the TNC company and if they do not know that you are using your car for hire, they may deny coverage.
Also, have you ever told your Uber driver to wait for you and you will pay him off the clock? Well if you did, or worse, you did this as a driver, if you are not “clocked” into the ride with your TNC company, there is no coverage under their policy and also none under your policy.
So go back and look again at your auto insurance policy, if decide to use your car for a ride-sharing service, call your agent and make sure this has been added to your policy. coverage is not automatic.