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With over 76 years of experience, The Jordan Insurance Group is an industry leader in Life Insurance strategies and Employee Benefits. We strive for excellence through our due diligence in selecting products to satisfy our clients’ needs with proven benefit designs and tax strategies. Our Team utilizes a diversified multi-level approach in preserving, protecting and growing wealth for our business and individual clients.

Understanding Ridesharing

William Jordan William Jordan , 8/20/2014
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Ditching your car and going for public transportation is becoming a hot ticket item.  Ridesharing is quickly becoming a worthy competitor in public transportation. With the comfort of a more personal touch, the three CAr big ridesharing companies, Uber, Lyft, and Sidecar, are changing the way we think about public transportation. What is Ridesharing? You can contact a ridesharing company, such as Lyft, Uber, or Sidecar, via their mobile apps, to have a “community” driver pick you up to take you to your destination.  These drivers generally are not taxi drivers, rather someone who wants to make a few extra bucks on the side. The problem with ridesharing?  The insurance. Mark Maucere, senior vice president for AmWins Transportation Underwriters, Inc. states, “Our rate [for transportation classes] is based on a point A to point B mechanism, and the problem with these operations is we don’t know when the car is our or in the garage, we don’t know the experience of the driver, car maintenance or in what other ways it is used.”Ridesharing proves to be a gray area when it comes to insurance.  When you have a taxi service commercial auto insurance will cover you.  With your own vehicle, you have your personal auto insurance coverage.  With ridesharing?  It’s conflicting. Personal auto insurance won’t cover a person who gets into an accident while driving for a ridesharing program.  Typically, a commercial policy would fit the bill.  Not too many part time drivers, who are trying to make a few extra bucks on the side, would have commercial insurance. If you or someone you know is a driver for one of these programs, contact our office today to see what we can do for you. Content provided by Transformer Marketing. Sources: