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Ride Sharing – Is it Worth the Risk?

Insurance Loopholes

An infographic provided by our friends at Arbella Insurance shows just a few of the insurance loopholes that you may encounter if you drive for a ridesharing company:

If you are running a ride sharing application, your personal auto insurance policy may not cover you for damages or losses.

Violations and accidents that occur when you are running a ride sharing app could still cause an increase in your personal insurance rates.

Ride Sharing services may provide you with additional liability insurance, but their coverage may have significant gaps. Deductibles on their insurance may also be as high as $1,000. And if they don’t provide enough coverage, you could be responsible for the difference!

So before you start to hire out your car to make a little bit of extra cash, you should carefully consider the risks that you could be undertaking.

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