Uber is a popular ridesharing service that has seen significant global expansion in the past year. The company is often criticized for various reasons, some find fault with its surge pricing policies while others downright oppose its presence in their cities. Since a tragic incident in San Francisco on New Year’s Eve, there has been much talk about Uber’s insurance policy. It has made a few changes and described the updated policy in detail on its official blog. Drivers and passengers are now insured when the Uber mobile app is turned on during a ride, coverage of up to $100,000 is offered for bodily injuries, with $50,000 maximum per person.
Drivers are covered for up to $25,000 in property damage if there’s an accident and the driver’s personal auto insurance policy doesn’t pay out. Previously drivers only had their own personal policies as the only insurance, now that is the case only when the Uber app is turned off. Even if they’re not on a ride, drivers are covered as long as they have the app on.
When drivers are on a trip, they’re covered for up to $1 million in driver liability. It covers uninsured/underinsured motorists as well, meaning that both drivers and passengers are covered regardless of who is at fault. $1 million coverage kicks in from the moment the trip is accepted to the passenger being dropped off at his or her destination.
Uber says its policy is there to help drivers “while the insurance industry and state governments update policies and regulations for the new world of ridesharing transportation.”
Filed in ..