Interesting that for the TNC type of cars the insurance requirement is 50/100, but for taxi’s, I believe,it is $300K CSL with mandatory UM/UIM requirements.
With the 200k Excess requirement, it seems like the upper limit it very similar to taxi’s. Also keep in mind, the ride share app needs to provide 1M Excess once the a ride transaction is in process. Should there be more coverage? Of course, but this is what it would take to make this viable. It’s certainly much better than the 15/30/5 state minimum limits, which has been the same for over 30 years and increases to this should be addressed a long time ago.
Interesting that for the TNC type of cars the insurance requirement is 50/100, but for taxi’s, I believe,it is $300K CSL with mandatory UM/UIM requirements.
With the 200k Excess requirement, it seems like the upper limit it very similar to taxi’s. Also keep in mind, the ride share app needs to provide 1M Excess once the a ride transaction is in process. Should there be more coverage? Of course, but this is what it would take to make this viable. It’s certainly much better than the 15/30/5 state minimum limits, which has been the same for over 30 years and increases to this should be addressed a long time ago.
Do you suppose TNC really stands for “Tain’t Nuff Coverage”?