You are a driver for a transportation network company and then the unfortunate happens. Someone sideswipes your vehicle. In the chaotic moments after the accident, a question about your personal auto insurance coverage arises. Are you fully covered for ridesharing?
Perhaps not, GEICO warns.
“If you are driving for a rideshare company with a personal auto insurance policy, you might be taking a huge risk,” said Othello Powell, GEICO director of commercial lines. “Most personal auto policies were never designed to protect you or your vehicle for commercial purposes.”
A typical personal auto policy contains coverage gaps and limitations for ridesharing and package delivery. If an accident does happen with drivers’ personal auto policies, they have to provide their insurance carriers with specific details, including the phase of the ride they were in, said GEICO in a statement.
For example: Was the app on or off? Was the vehicle carrying any passengers or packages? Depending on the answers, drivers may not have the coverage they thought they had, GEICO said.
GEICO’s ridesharing and on-demand policy is offered in 36 states and the District of Columbia. The type of policy available will depend on the state of domicile and the insurance coverage offered, GEICO noted.
More information on the policy can be obtained via the company’s website.