Seattle-based PEMCO Insurance announced it is introducing its auto policy endorsement for rideshare drivers in Oregon on Sept. 1.
The company said the endorsement enhances personal auto policies for rideshare drivers, providing them additional coverage and lower deductibles. The product is already available in Washington state.
PEMCO said the rideshare endorsement gives drivers the green light to use their personal auto policy to fill coverage gaps and enhance their insurance coverage beyond the limits of their TNC policy. Personal policies traditionally haven’t covered commercial uses of a personal vehicle, which can put rideshare drivers in a precarious position with their insurer.
Additionally, PEMCO’s endorsement aims to offer important protection where TNC coverage traditionally leaves drivers the most exposed – particularly against underinsured and uninsured motorists and within personal injury claims, the company said.
According to John Connally, a product development manager and resident rideshare expert at PEMCO, exact coverage amounts depend on the driver’s personal auto policy limits, but the benefits offer significant value to policyholders.
Source: PEMCO Insurance
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