Another insurer launches ridesharing coverage

Yet another company has joined the ridesharing bandwagon with a policy designed to cover the infamous insurance gap.

Insurance News

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Add another insurer to the lengthening list of carriers willing to write policies for Uber drivers.

USAA announced Thursday that it will extend its pilot program for ridesharing companies to Texas, with policies expected to be available May 16. The coverage, which extends personal auto policies to cover risks while a driver is on his or her way to pick up a passenger, was tested earlier this month in Colorado.

Texas drivers can begin applying for the coverage in April.

“More of our members are participating in rideshare activities,” said Jesse Mata, product manager for USAA. “Once you’ve been matched with a passenger, the commercial insurance from the network companies takes over.”
The extension of the policy will cost drivers an addition $6 to $8 a month, USAA said.

“Interest in this product has increased, especially among our military spouse and veteran members who have been driving for these services,” said USAA Property and Casualty Insurance Group President Alan Krapf.

“It’s important for us to financially protect our members when they need it, and we’re pleased to extend the pilot to Texas, which will help us further evaluate the benefits of this coverage.”
 

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