Insurance for uber drivers
What is Uber?
Uber is an innovative American company that allows people in participating cities to book a ride with their drivers rather than call a standard cab. Their offering extends to many Canadian cities including Toronto, Montreal, Quebec, Otttawa and Edmonton. Uber has stirred up some controversy over the legality of its services as cab drivers mobilize to stop this threat to their livelihood. Anyone can become a Uber driver and make money if they adhere to the guidelines set out by Uber.
A good thing for Canadians?
Most consumers should rejoice however, as their fare is well below the going rate most of the time, yielding savings of up to 50% off each ride. Uber drivers are happy and highly motivated because they can earn money without acquiring a very expensive and often elusive license or paying cab rental fees. Uber is investing heavily in safety measures to make sure passengers and drivers alike are guaranteed a pleasant incident-free ride. On the other hand, municipalities and taxi drivers who thrive off the licensing system are quite opposed to Uber.
You want to become a Uber driver?
You can get all the required information on Uber’s website. You’ll have to show that you have a clean record, a valid driver’s license and insurance. You should know however that your standard auto insurance does not allow for the paid transport of merchandise and persons without some adjustements. If you fail to mention this to your insurer, you won’t be able to make a claim in case of an accident.
You can be covered by your insurance
Intact announced it was working on an endorsement to remove the standard exclusion in auto policies, and Aviva launched its first policy for Uber drivers. We should see more from the other insurers in the future as the market adapts itself to this user-driven revolution. The coverage is expected to be expensive, but that shouldn’t be a problem if you are earning a living as an Uber driver.
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