Page 27 - AAA Every Day – AAA Hudson Valley – January/February 2019

Rideshare Drivers:
Update Your Coverage
INSURANCE NEWS
With the introduction to several transportation network companies to the upstate area, rideshare has become a popular second source of income for many. The new year and tax season may be times where you analyze your spending and realize you need
your coverage under the TNC group policy. Bodily Injury Liability and Property Damage among other limits might be different from your personal auto policy and the limits change throughout “phases” of the pre-arranged trip.
the extra cash flow. Be careful though – your current auto insurance policy may not cover you should you file a claim once you have become a driver for a TNC.
When it comes to auto insurance, if you have made any life changes, then reviewing your policy is a must. In this case, the life change would be driving for a TNC, like Lyft or
When it comes to auto insurance,
if you have made any life changes, then reviewing your policy is a must.
There are New York State required minimum limits of insurance during Phase 1 (the driver is logged onto network, not engaged in a pre- arranged trip) or Phase 2 (being engaged in a pre-arranged trip).
Comprehensive and Collision coverage also varies; coverages may or may not apply if you do not currently have this on your personal auto policy. TNC companies might have different deductibles than your personal auto policy. While rideshare is a great opportunity to earn some extra money, it is very important to understand your coverage at all times. Learn
Uber. Believe it or not, this could drastically
affect your coverage and call for quite a few
changes. Many insurance companies have
their policies written to specifically state that
any loss or injury resulting from participation in a ride-share program is excluded in the event of a claim. This also includes when the insured vehicle is logged into the app or providing a pre-arranged trip.
what is actually covered and by whom. In the event of a loss or a claim, you should know exactly who to contact. Speak with a AAA Hudson Valley Insurance Agent for more information on what is best for you. Visit AAA.com/ Insurance or call 518-649 1717.
Eman Badr is a Certified Professional Insurance Agent and manager of the AAA Hudson Valley Insurance Agency.
New York State law requires that the TNC provides insurance coverage through a group policy for the participating driver and that they notify the driver of the coverage. Make sure you familiarize yourself with
JANUARY/FEBRUARY 2019 I 27
Shutterstock, Snapic_PhotoProduction