Ridesharing Insurance Policy
Since launching ridesharing in early 2013, Uber has put insurance policies in place to cover every ridesharing trip on the Uber platform throughout the U.S. Over time we have added more coverage to include the time between trips and to cover comprehensive and collision.
Throughout, we have shared our $1 million commercial liability policy in full with policymakers and regulators upon request. We are proud to share it publicly here and answer some important questions.
[Note: The policy shared in this blog post has since expired. See this post for a current sample policy]
Why hasn’t Uber shared this policy before?
Uber has shared this policy before, doing detailed reviews with city officials and regulators across the country. We have also previously posted the Certificate of Insurance along with details about the policy. This is, however, the first time we have published the entire policy for the public at large. We are confident it is a best-in-class policy and hope that this additional transparency addresses any remaining questions about the insurance provided to ridesharing partners on our platform.
When did this policy go into effect?
Ridesharing coordinated through Uber technology has had similar coverage since the very beginning. Of course, we are constantly looking to upgrade and enhance the coverage afforded our partners and the riders. This insurance policy reflects the broad coverage in place today for trips that happens through the coordination of Uber’s technology platform.
Who is the insurer?
The policy is issued by James River Insurance Company, which is rated A- (Excellent) by A.M. Best, the industry standard rating agency for the financial strength of insurance companies.
The insured parties are listed as “Rasier”, etc. What is Rasier?
Rasier is a wholly owned subsidiary of Uber Technologies Inc. that partners with ridesharing drivers. All ridesharing drivers have a contract with Rasier.
Who and what are covered by this policy?
This policy covers the liability of 1) ridesharing drivers (described as “Named Operators” in the policy) who have accepted a trip and are en route to pick up passengers or that are transporting passengers to their destination 2) Rasier and 3) Uber Technologies, Inc. Liability coverage is up to $1 million per incident for bodily injury or property damage to passengers or any other third parties, such as pedestrians, other vehicles, buildings, etc. The policy also covers bodily injury caused by uninsured and underinsured motorists up to $1 million/incident, so that no matter who is at fault, coverage is in place.
Is there an aggregate limit to the policy?
No. This policy provides up to $1 million in coverage for each and every incident that occurs from the time a driver has accepted a trip and is en route to pick up passengers or is transporting passengers to their destination.
How does this policy work?
From the moment a driver accepts a trip to conclusion, primary liability coverage is in place and applies up to $1 million coverage per incident. Specifically, this policy is primary to your personal auto insurance policy but remains excess to any commercial auto insurance you may have for the vehicle.1
Does this policy cover collision insurance?
Comprehensive and collision are covered under a separate policy and include $50,000 of contingent comprehensive and collision insurance. If a ridesharing driver maintains personal comprehensive and collision insurance, this policy covers physical damage to that vehicle that occurs during a trip, for any reason, up to $50,000 and with a $1,000 deductible.
What about a driver’s time between trips?
Most personal auto policies cover the period of time when a driver is between commercial trips and not carrying a passenger. However, we have also recently added a separate commercial insurance policy that went into effect on March 14, 2014 in order to add commercial liability coverage to this period of time between trips and eliminate any ambiguity. More details here.
What else is important?
Some states have specific local regulatory needs and have additional endorsements or separate policy numbers. These policies have the same structure and provide equivalent or greater coverage. No fault coverage (e.g., Personal Injury Protection) is provided in certain states at similar levels as limos or taxis in those cities.
THIS POST PROVIDES AN INFORMATIONAL SUMMARY OF INSURANCE POLICIES FOR QUICK REFERENCE AND DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND, OR ALTER THE COVERAGE AFFORDED BY THOSE POLICIES.