WEDNESDAY, MARCH 26, 2014
Ridesharing - Lyft - Uber - and others - With Mass Auto Insurance are you covered ??
New Endorsement Makes It Clear: No Insurance Coverage for Personal Insured Vehicles Used In Ridesharing Program!!
Insureds / people trying to make money through vehicle sharing programs best read their new insurance policy carefully. Division of Insurance :
“We will not pay any claim for injury or property damage under the policy, while your auto is being used in a personal vehicle sharing program. Such programs or the use of your auto by a person other than you or a household member under an agreement and with payment to you. This exclusion does not apply to personal injury protection.”
Vehicle sharing programs or ridesharing peer-to-peer networks are proliferating at a rapid-rate. Companies such as Rideshare, Lyft, Uber, RelayRides, FlightCar, and Zimride operate throughout the Boston-area, but there are hundreds of vehicle sharing peer-to-peer vehicle sharing networks operating on the Web and around the Commonwealth and country. Their business models come in all flavors: virtual taxi service (Uber), airport car rentals (FlightCar), personal rental (Lyft), carpooling (Zimride).
Whatever their target market, all of these companies basically offer peer-to-peer networking through smart phone apps to connect vehicle owners looking to make some money off their cars to operators or passengers who need a vehicle to use or someone to drive them somewhere.
Since vehicle sharing programs target their money making pitches to private vehicle owners (“Earn up to $1000 a month renting your car”, advertises the RelayRides Website), the new endorsement is designed to clarify that a Massachusetts personal automobile insurance policy does not cover renting out one’s automobile as a business.
MASSACHUSETTS ENDORSEMENT - M-0108-S Personal Vehicle Sharing Exclusion: We will not pay any claim for injury or property damage under the policy, while your auto is being used in a personal vehicle sharing program. Such programs allow the use of your auto by a person other than you or a household member under an agreement and with payment to you. This exclusion does not apply to Personal Injury Protection (Part 2).
Note the above: Are you a commercially insured driver with a commercial insurance policy? If yes and you or they are classed as "livery" to transport people or persons for a fee. Than yes you or they should have the proper insurance coverage.
If you are or they are using a personal automobile insurance (using your personal auto), NO insurance coverage if you or they are injured or people or persons you are carrying will have no insurance coverage in the event of a accident. With a mass personal auto insurance policy there is NO coverage transport people or persons for a fee.
Quote your Auto Insurance with us!!
800-550-INSURE
www.savinjones.com
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