Mercury Insurance is offering ridesharing insurance to cover Uber, Lyft and other transportation network company drivers in Arizona.
The new coverage will provide drivers with insurance that will bridge the gap between their personal auto insurance and the coverage provided by their TNC. Mercury’s ridesharing coverage will provide drivers with coverage throughout the entire drive cycle. Mercury will be offering the insurance for as little as 20 cents per day.
The ridesharing drive cycle is divided into three periods. Period 1 is when drivers have turned on the ridesharing app, but haven’t accepted a fare. Period 2 is when drivers have accepted a fare and are on their way to pick up a passenger. During period 3 drivers are transporting passengers to their destinations.
Mercury’s ridesharing insurance will extend drivers’ personal auto policies from period 1 through period 3 of the drive cycle, allowing them to obtain coverage not provided by their ridesharing companies. Mercury’s ridesharing insurance will also fix the insured’s vehicle in a covered loss if those coverages had been purchased from Mercury.
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