Call Us 614-878-0240 ☰ ˟
  • Home
  • Get A Quote
    • Automobile
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Business Owners (BOP) Quote Form
    • Farm
    • Homeowners
    • Life
    • Motorcycle
    • Recreational Vehicle
    • Renters
    • Watercraft & Boat
  • Claims
    • Automobile
    • Business & Commercial
    • Homeowners
    • Motorcycle
  • Blog
  • Make a Payment
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Calculators
    • Free Reports
    • Insurance Glossary
    • Frequently Asked Questions
  • About Us
    • About Gilles Smith Purdum Insurance Agency, LLC
    • Location Map
    • Employee Directory
    • Partners
    • Customer Testimonials
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
Logo
Business
Auto
Home
Life
Home > Blog > Ride Sharing- When it can cost you
FRIDAY, MARCH 6, 2015

Ride Sharing- When it can cost you




When sharing a ride can cost you (March 2015)

Ridesharing and vehicle sharing are seemingly simple concepts, but Ohioans should understand the risks.

1.  Drivers may not be covered

Ridesharing and vehicle sharing are not covered by traditional personal auto insurance policies. Most policies have exclusions when a vehicle is used to transport people or property for a fee. Many also exclude coverage when a vehicle is rented to others. Some insurers have added an endorsement stating that using a vehicle for ridesharing or renting is not covered. Most companies will not renew your policy if  your car is involved in ridesharing.

Rideshare drivers need additional protection, so find out if your carrier provides such coverage. Also learn exactly what your TNC (Transportation Networking Company) policy covers. Does your personal policy cover you when the TNC’s policy doesn’t? When does your personal auto policy coverage begin and end? 

2.  Risks to passengers and bystanders

 Passengers should think about two issues. First, if involved in an accident, will you have coverage for your injuries? If a rideshare vehicle driver has no insurance, an injured passenger or bystander may be forced to hire an attorney and file a suit for injuries against the driver. That can be costly and doesn’t guarantee an enforceable settlement. 

In addition, the passenger may need to file a claim under his or her own auto policy’s medical payments or uninsured motorists’ coverage. And what if an uninsured or underinsured motorist causes your injury? 

Second, rideshare drivers aren’t currently subject to taxi and livery services’ regulations. That means drivers aren’t required to have city-regulated vehicle inspections or background checks with fingerprints, a public safety concern to many cities.*

 3. A TNC’s insurance isn’t enough

 Some rideshare services offer liability insurance to their drivers for coverage while operating as a rideshare driver, but the policy may not provide coverage for damage to their own vehicle. It also may not cover other expenses resulting from an accident, such as medical bills.  If you want to be a rideshare driver, ask the TNC for details about their insurance coverage.

 4.  What can go wrong?

 A 2014 wrongful death case against the driver of a rideshare vehicle illustrates that the stakes are high. A girl was killed when struck by a rideshare car in California. The driver said he was awaiting a fare at the time of the accident, but the TNC said their policy didn’t cover the driver when the accident occurred because he wasn’t transporting a passenger. That left the driver financially responsible. The case is still in litigation, but estimated damages could go as high as $20 million.

 *  Columbus approved such regulations in July 2014.

 

Ridesharing in Ohio: know the facts before you participate

 Public transportation is now personal in Ohio, with rideshare services in Toledo, Cleveland, Akron, Cincinnati, Columbus and Dayton. 

Ridesharing allows vehicle owners to transport passengers in their own cars for a “donation.” Drivers sign up with a  transportation networking company (TNC), a service that charges a fee to connect passengers with drivers via a website or smartphone app.  Passengers arrange rides and pay with a credit card using the app.

 Vehicle sharing lets car owners rent their cars to others when not in use. 

Both options sound enticing, but there are insurance implications that could cause potentially significant financial problems. Gaps in insurance coverage, safety concerns and a lack of regulation add to the layers of  complexity. 

Talk to us if you want to participate in rideshare services.   We’ll explain your coverage and tell you what you need. We can also look into new commercial policies designed for rideshare-type purposes.

 

March 2015

Posted 2:04 PM

Tags: auto insurance, auto insurance quotes, bodily injury, property damage, liability insurance, auto liability
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013

  • auto insurance(30)
  • homeowners insurance(28)
  • insurance(12)
  • life insurance(12)
  • renters insurance(10)
  • car insurance(9)
  • home insurance(9)
  • business insurance(6)
  • commercial insurance(5)
  • liability insurance(5)
  • back to school(4)
  • boat insurance(4)
  • covid-19(3)
  • college students(3)
  • graduation safety(3)
  • insurance discounts(3)
  • 4th of july(3)
  • delaware ohio insurance(3)
  • insurance coverage(3)
  • gilles insurance(3)
  • auto liability(2)
  • commercial auto insurance(2)
  • holidays(2)
  • prom safety(2)
  • auto safety(2)
  • grange(2)
  • life(2)
  • tire safety(2)
  • classic car insurance(2)
  • distracted driving(2)
  • boat safety(2)
  • teen drivers(2)
  • whole life insurance(2)
  • bodily injury(2)
  • insurance review(2)
  • homeowners quote(2)
  • bop(2)
  • coronavirus(2)
  • motorcycle quote(2)
  • gsp insurance(2)
  • gilles smith purdum(2)
  • christmas(2)
  • delaware ohio(2)
  • gilles insurance agency(2)
  • motorcycle insurance(2)
  • columbus ohio(2)
  • night driving(2)
  • home safety(2)
  • id theft(2)
  • property damage(2)

View Mobile Version
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Mission Statement Gilles Smith Purdum Insurance Agency’s mission is to help past, current, and future clients to better understand the purpose of insurance by educating them about their financial risks and how to protect themselves by minimizing those risks. To help them understand concepts and empower them to make educated choices regarding their coverage and policies and to help guide them during the decision-making process. We strive to provide our clients with the best service, coverage, and competitive prices by partnering with insurance carriers that share our vision of a truly consultative approach to being an Insurance Agent.

333 Norton Rd.
Columbus, Ohio 43228

Ph: 614-878-0240
Fx: 614-878-8445
E: info@gsp-insurance.com


Social Social Social Social
Grove City Chamber of Commerce Social Social

Ohio Insurance Agents Trusted Choice AmSpirit Business Connections

 

 

Home Get A Quote Claims Blog Make a Payment About Us Meet Us Contact Us Instructional Videos

Powered by Insurance Website Builder