Drivers doing work for ride-sharing companies this kind of as Lyft and Uber might not be entirely insured, the state Division of Commerce and Insurance warned nowadays.
“The Division desires Tennesseans to know that most standard car insurance policies contain exclusions for livery or driving for employ,” Julie Combine McPeak, the department’s commissioner, mentioned in a news release. “These gaps can leave men and women in insurance limbo with out the coverage essential to safeguard their car and passengers in the event of an accident.”
The announcement explained that although “transportation ne2rk companies” may be necessary by local government regulators to preserve liability insurance, “they may not have healthcare payments coverage, comprehensive, collision, uninsured and underinsured motorist coverage, or other optional coverages for enrolled autos.
“This indicates that the TNC’s liability policy may not give coverage for: one) bodily damage to the TNC driver, 2) damages to the TNC driver’s automobile, or 3) bodily injury or physical damage triggered by an uninsured or underinsured motorist.”
Both Uber and Lyft have mentioned their drivers must have at least the minimal insurance essential by law, and they supply $ 1 million in liability coverage past any personal coverage.
Lyft and UberX recently entered the Nashville market place, and the Metro Transportation Licensing Commission’s workers has drafted rules that would cover how drivers are licensed and how autos are inspected and insured. If accepted as drafted, the regulations would add ride-sharing providers to the city’s ordinance for livery autos.
“Our principal concern is public safety, and insurance is a enormous component,” the licensing commission’s director, Billy Fields, wrote in an electronic mail today. “We are functioning to understand if the Transportation Ne2rk Firms and their insurance coverage processes meet what is required.”