Do you use your personal vehicle in a ride-sharing service?
Ride-sharing companies operate similarly to taxi services, but drivers use their own cars. Most use smartphone apps to connect passengers and drivers and to transfer payment, which is considered a donation and determined by the rider.
There is a potential risk involved: personal auto insurance policies generally contain a liability exclusion for the ownership or operation of a vehicle while used as a “public or livery conveyance.” Whether insurance carriers have made or will make allowances to afford coverage is a topic you may want to have with your insurance carrier, if you operate a ride-sharing service.
Insurance Agents & Brokers, out of Mechanicsburg, Pa., have reached out to their insurance service office contacts who said they are monitoring the implications of ride-sharing.
If you want to discuss the implications of ride-sharing and your personal vehicle, please contact E. R. Munro and Company at 1-877-376-8676.
