As of January 6, 2016 Aviva Canada Inc. has announced that they are working on an insurance solution for Uber drivers, or for any other drivers that use their personal vehicles to transport paying passengers. This coverage is set to be available early February, as an endorsement placed on your current Aviva policy.
Aviva is promising that the coverage will be affordable, and will be a minor expense into the drivers ride-sharing profits. It is intended to cover the driver from the moment the they initiate the search for passengers, up until the passengers are picked up and dropped off at their destination. The coverage will be available for drivers that spend up to 20 hours a week participating in ride-sharing. Eligibility for this coverage will be based on some simple underwriting criteria such as: maximum of eight passengers, licensed for a minimum of six years, no other commercial use, etc. And premiums will be determined based on factors such as time spent ride-sharing, area driven and driving record.
Currently the majority of UberX drivers are relying on their personal auto insurance policy to cover their ride-sharing pursuits. However, a standard personal car insurance policy won’t cover claims resulting from incidents where the vehicle was operating commercially. Now that one of Canada’s top insurance companies is planning to introduce a insurance solution for ride-sharing services, UberX drivers can soon have peace at mind knowing that they’re operating their vehicles with a valid insurance policy.
At HMS insurance we offer insurance solutions with Aviva Canada Inc, so as soon as this ride-sharing coverage becomes available to the market, we’ll be offering it. Stay tuned!