The popularity of ride-hailing companies such as Uber, Lyft and Sidecar has opened up a new subcategory of auto insurance. Due to recent litigation, Uber now provides coverage for its drivers as long as they are logged into the Uber smartphone app and ready to accept an assignment. Drivers must obtain their own insurance for all other times of driving, and a personal auto policy is not enough. Many carriers exclude coverage on a personal auto policy if you are using your vehicle as a ride-share driver.
Farmers Insurance provides coverage for just this purpose, and I have received many calls over the last 6 months for this type of “Uber insurance”. The coverage is called a Rideshare Endorsement, and enables drivers to customize their coverage, including:
- Comprehensive and collision coverages that pay for damages to your car
- Uninsured motorist coverage, in case you are hit by a driver who isn’t insured or is underinsured
- Medical payment and personal injury protection (if required)
If you are a driver for Uber, Lyft or any other rideshare program, it is mandatory that you alert your insurance carrier. Failure to do so could result in the denial of a claim. Call me today – I am happy to answer any questions and further explain how the rideshare endorsement works. Farmers provides a great product and competitive rates for “Uber insurance”.
Do you have a vacant home? Maybe your primary residence is under construction and you moved out temporarily. Or your rental property is between tenants. Perhaps you moved out of your home but haven’t sold it yet. Whatever the circumstances, vacant homes present additional risks, since no one lives there. Typical home insurance policies do not extend coverage when a residence is unoccupied. Farmers offers insurance products specifically for unoccupied and vacant homes.
Farmers’ vacant home insurance provides coverage for additional risks such as vandalism and malicious mischief. Those perils are not always covered by policies from other insurance carriers. We also provide a 12-month policy with pro-rated cancellation. This is convenient when you don’t need a full year of vacant coverage. Or if your property becomes occupied earlier than you anticipated. In addition, Landlord policies can be easily endorsed to provide vacant home coverage when your rental property is temporarily unoccupied.
Please call me with any questions or concerns on vacant home insurance for your unoccupied home or rental property. Also please remember to let your insurance agent know if your primary residence will become vacant for any length of time and for any reason. It helps to make sure you are properly covered, should a loss occur while the home is unoccupied.