Uber "Ridesharing" Insurance
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Q & A
Q: Does my personal insurance cover me for ridesharing?
A: No, personal insurance is not intended to cover any type of business or commercial venture. Specifically with ridesharing there is an exclusion in the standard Alberta SPF 1 that all insurance companies sell that excludes carrying "passengers for compensation". Anyone that is involved in carrying passengers for compensation needs to add an endorsement to their policy that grants them permission to carry passengers for compensation.
Q: What could happen if I'm involved in a collision and my insurance company is not aware that I am involved in providing ridesharing services?
A: Your insurance company could decline your claim and/or void your policy from inception as if it never existed. If you are carrying a passenger for compensation and they are injured in a collision your insurance may not respond and you could be personally sued for the passenger’s injuries.
Q: Is there a policy available to cover me for ridesharing?
A: Yes, there is a policy you can purchase now that will give you permission to carry passengers for compensation available via the Facility Association. There are other insurance companies working on products as well that are not available yet that will be designed for ridesharing and will come with a more affordable premium.