It is no secret that ride-sharing has grown over the last few years. Did you know that ride-sharing is not covered on your personal auto policy?
As the sharing economy continues to forge ahead, more and more services are popping up to allow those who have space to sell or rent – Airbnb, Uber, Lyft – to connect with those who are willing to buy.
One of the most significant hurdles participants on the selling end of the sharing economy have had to face is insurance. Many, if not most, of the traditional insurance policies on our personal property (cars, houses, etc.) did not make any allowances for the monitization structure of programs like Uber. Although a certain percentage of ‘early-adopter’ participants have happily adopted a “I’ll take my chances” attitude, many more have been waiting for the insurance industry to catch up.
“With ride-sharing on the rise, consumers have new options available to them, however there is a gap in insurance coverage which potentially leaves them without appropriate protection and benefits. When consumer needs change, we must evolve our insurance solutions to respond,” said Greg Somerville, President and CEO of Aviva Canada. “We’re excited to offer a simple and affordable solution within a driver’s existing personal auto policy, thereby providing drivers and passengers with absolute peace of mind that they have insurance coverage while ride-sharing.”
If you would like to know more about Aviva’s ride-sharing insurance program, contact us today and we will be happy to discuss your needs.