Farmers Insurance has expanded its Rideshare Insurance Coverage to drivers in Idaho, Maryland, and North Dakota.
Farmers worked with representatives of the states’ insurance departments, legislators and leaders of Transportation Network Companies (TNCs) to develop a product specifically designed for rideshare drivers and make available a type of insurance coverage specified in each states’ new ridesharing law. With the introduction of Rideshare Insurance Coverage in the three states, Farmers is now offering this coverage in 21 states.
Under the states’ new laws, rideshare drivers will be required to have insurance coverage from the moment they turn on their rideshare app. Since personal automobile insurance policies generally were not designed to provide rideshare drivers with coverage while they are working, the introduction of this new coverage will help to fill a potential gap in coverage.
The new Farmers Rideshare Insurance Coverage can provide Farmers customers coverage when a driver turns on the application and during the time the driver is awaiting a match. The Farmers Rideshare Insurance Coverage will extend a driver’s Farmers auto insurance coverage until they accept a ride, at which point their TNC affiliate’s commercial insurance coverage would apply.
Farmers Rideshare Insurance Coverage enables a driver to select the coverage that fits their needs; including comprehensive and collision coverage that can 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.
Was this article valuable?
Here are more articles you may enjoy.