Farmers Insurance has introduced rideshare insurance coverage designed to provide seamless coverage for ride-hailing drivers in Kansas.
Farmers worked with representatives of the Kansas Insurance Department, legislators and leaders of transportation network companies (TNCs) to develop a product designed to provide ride-hailing drivers with the insurance coverage specified in Kansas’ new ride-hailing law.
Under the new Kansas law, ride-hailing drivers will be required to have insurance coverage from the moment they turn on their rideshare app. Since personal automobile insurance policies were not designed to provide ride-hailing drivers with coverage while they are working, the introduction of this new coverage will help to fill a potential gap in coverage.
Farmers Rideshare will provide Farmers customers coverage during period 1, which begins once a driver turns on the ride-hailing application and is awaiting a match. The coverage will extend a driver’s Farmers auto insurance coverage until they accept a ride, at which point their TNC affiliate’s insurance coverage applies.
Farmers Rideshare enables a driver to select the coverages that fits their needs; including comprehensive and collision coverage that pay for damages to their own vehicle, uninsured/underinsured motorist coverage (in case they are hit by a driver who isn’t insured or is underinsured), and medical payments coverage.
Farmers Rideshare will provide customers period 1 coverage to drivers for any ride hailing company operating in the state. The additional coverage provided by the rideshare coverage endorsement will add approximately $15 per month to a customer’s premium.
Source: Farmers Insurance