Are you insured while working for a Transportation Network Company (TNC) such as UBER or LYFT?
Posted by LPL Risk Management on
A TNC is a company that connects people who need rides with drivers ready to go. Founded in 2009, Uber is the best known TNC and others such as Lyft are popping up.
What you may not know is that driving for a TNC may effect your personal auto insurance coverage. Most Auto policies cover traditional forms of ride sharing such as car pools. However, they do not provide coverage when the driver transports people and/or property for a fee. Therefore, if you are driving for Uber, Lyft or another TNC, your auto insurance probably doesn’t apply.The major TNC’s provide some insurance coverage for their drivers but it may leave you unprotected or under protected at points during a driving assignment.
Speak to your agent to find out if coverage is available in your state.