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Personal Insurance

Uber Is Expanding It’s Endeavors

By March 8, 2018No Comments

Have you ever taken a taxi and thought the price was just a little bit outrageous for the length of time you were in the vehicle? Maybe this has caused you to look into other options such as Uber. Or maybe you’ve even considered driving for Uber to make a little extra cash during Notre Dame football season. Whatever the case, we’re here to give you the ins and outs on what you should know about Uber.

Thinking about driving for Uber? Uber requires that drivers be at least 21 years of age, have at least one year of licensed driving experience in the U.S. (3 years if you are under 23 years old), have a valid U.S. driver’s license and use an eligible 4-door vehicle. Click here to see vehicle requirements for Northwest Indiana. Please be sure to note that insurance coverages for Uber have changed. Previously, Uber used to provide insurance coverage ONLY when a rider was in the vehicle, while a driver’s personal insurance covered the vehicle ONLY while the Uber app was NOT running. There was an in-between period of time where the app was running, but there was no rider in the vehicle and thus, no coverage. This created a huge gap in coverage for Uber drivers and a huge problem for insurance companies. NOW- Uber has updated it’s insurance policy to include coverage before you accept a request as well as while you have a rider in your vehicle. *Please note that while you’re waiting for a request without a driver in your vehicle, Uber provides minimal insurance coverage. Your personal insurance policy may also cover you in this situation, but please contact your insurance company to see if driving for Uber is something they allow. If it’s not, your insurance may be cancelled or non-renewed. On your way to pick up a rider and for the duration of time the rider is in your vehicle, Uber increases the insurance coverages to $1 million of total liability coverage. Click here for more details on insurance coverages.

Typically when people think of Uber, they think of being picked up and taken to their requested destination- similar to your standard taxi service, only cheaper. Interestingly enough, Uber is branching out and diving into other industries. Uber is now extending its services to include UberPOOL, Uber Eats, and Uber Freight. So what does that mean?

UberPOOL is designed to match various riders heading in the same direction, so that riders can share the ride and share the cost as well. So how does this work exactly? When requesting a ride, you tap the uberPOOL ride option at the bottom of the screen. You can request a POOL for up to 2 people. Uber will automatically match your car with other riders heading your way. Be sure to expect additional pickups and/or dropoffs along your trip. With extra riders, it may take a little longer to get there, but you’ll always see your estimated arrival time in the app. This may not be your best option if you’re in a hurry to get to your destination, but it’s an awesome opportunity if you’re looking to cut costs. (UberPOOL)

Uber Eats is like a typical order delivery service, but with more options. Uber Eats has hundreds of restaurants to choose from. When you open the app, you can scroll through the feed for inspiration or search for a particular restaurant or cuisine. When you find something you like, tap to add it to your basket. When you’re ready to check out, you’ll see your address, an estimated delivery time and the price of the order including tax and delivery fee. When everything looks right, just tap Place order- and that’s it. They’ll automatically use the card on file, so you never need cash (Uber Eats).

Uber Freight is an app that matches trucking companies with loads to haul. Users can search for a load, and simply tap to book it. This allows drivers to book the loads that work for them 24/7. No haggling with brokers, back-and-forth negotiations, or hassles. One of the highlights of Uber Freight is that they aim to deliver where it matters most: payments. When trucking companies get paid, they typically have to wait 30 days or longer. Uber Freight is committed to paying within a few days, fee-free, for every single load. When things don’t go as planned or drivers have to wait longer than expected, Uber pays for that too. Happy drivers means happy shippers, and ultimately everyone benefits, including the end consumers of the goods (Uber Freight).

Lyft and Turo are also markets for ridesharing and have very different policies pertaining to insurance coverages. For more information on Lyft’s insurance policy click here. See the additional link here to get more information on Turo’s insurance policy.

Most importantly, be cautious and ask questions when considering ride-sharing services. Don’t put yourself in situations that seem questionable and be safe out there!

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