Ridesharing: Think your Commercial Auto policy covers you if you drive for Uber, Lyft or Sidecar? Think again.

Many small business owners whose companies have a Commercial Policy for their business may think they can simply use that same commercial vehicle to make some extra cash by offering Rideshare services on their own time, especially if they use the company vehicle partially for personal use.  However, many insurance carriers are adding an Exclusionary Endorsement on Commercial Automobile policies regarding Ridesharing. These endorsements basically state that an insured person can not use the Commercial vehicle(s) for a Transportation Network Company (TNC). Uber, Lyft, and Sidecar are current examples of a TNCs. The typical commercial policies most businesses have in place are not rated for this type of exposure and would need to be underwritten properly. That is, of course, only “if” you are planning to utilize your commercial(s) vehicle as part of a TNC Rideshare. Just think of the repercussions if you were in an automobile accident that was not covered.  Similar exclusions will likely also apply to Medical Payments Coverage, Personal Injury Protection, Uninsured/Underinsured Motorists Coverage, Uninsured Motorists Property Damage Coverage or coverage for damage to your auto if these coverages are present in your current Commercial Auto Policy.  Make sure you are properly covered BEFORE an accident occurs.  Finding out after the fact is too late.  For more information on ensuring that you are properly covered feel free to contact us today for a confidential policy review by calling 877-PLIG-123 or clicking the “Free Quote” tab on this link: https://6e6.c45.myftpupload.com/