No Need To Fear! Ridesharing Coverage Is Here!
Ridesharing (for example UberX) has become extremely popular across the Greater Toronto Area (GTA). It is a service connecting drivers with riders for up to 30% cheaper than the price of a regular taxi. It is an excellent service available 24/7 with no need to call anywhere; you simply order an UberX car through their user friendly app from any smart device. For drivers it is a way to make extra money, for riders it offers a fast way to get around at a great price.
Uber and Intact Insurance have partnered to bring regulator approved commercial coverage for their drivers. This means that those insured with Intact can now drive for Uber for no extra cost over their regular premium. Customers simply have to be insured with Intact and call their broker before participating. The Intact coverage will apply from the moment drivers make themselves available to accept a ride request until passengers have exited the vehicle. Ridesharing coverage through Intact offers peace of mind for both drivers and passengers, most importantly at no extra cost to the driver.
UberX drivers need to be insured with Intact Insurance or Aviva Canada; no other insurers currently cover drivers for ridesharing in Ontario. In any situation, if you’re being paid to drive you must disclose this to your insurance company. Claims are being being denied on regular policies when it is found the driver has been driving for Uber. The insurer never agreed to insure the vehicle for commercial use, which is a materially different risk than personal use.
This unique ridesharing product will benefit both drivers and passengers, and speaks to how insurance is evolving to meet the needs of consumers. The coverage breaks down as follows.
Existing customers that would like to drive for UberX can please contact their Broker. New customers can get started HERE