In period one, this is typically liability only. This means when you have opened the app, and are available to take a ride, you do have liability (other guy) insurance. You most likely don’t have any insurance on your car, you, or anyone riding in your car. Those could be covered by your personal insurance, with the ride share option.
If that’s the case then to say OH has the required Gap coverage is not accurate as you’re still screwed. Is there a way to get Farmer’s Gap intel for each state without having to put a state in one at a time? This is one of the reasons why I got on here and stayed actually. Most drivers are still not aware of how screwed they will be.
Definitely on the same page, in the same book. lol It looks like CA and OH must have had a bill requiring the TNC company to cover drivers who don’t have the Gap, which was changed to putting it back on the driver to have it in the new law.
My understanding now is NC is the only state that puts it on the TNC company then, unless that intel is incorrect. It’s great to see 16 states now, plus a few other states that have it through other insurance companies.
Do you guys cross reference the loan? Many union banks do not give out commercial loans and that are a violation of the loan which is seen as loan fraud? So are you providing ride ride share coverage on some loans provided by the bank seen as illegal, fraud and criminal? We all know calling it ride share is a facade and if you call it by that it calls into question your knowledge.
We are not sure what you are asking. The car insurance company generally does not get involved with loan approval. If there is a loan on a vehicle, that information is usually recorded with the insurance policy.
Uber is required in CA to be the primary insurance when you are online with the app, and when you have a pax in your car the limits are higher, upwards of $1million. Also, if you have collision for your personal policy, they cover collision for you.
This may be the case in your state but it is generally not in Ohio. If the app is on and you do not have the optional ride share coverage on your personal insurance, you generally don’t have insurance coverage for your car, you, or those riding in your car, especially in period one, from when you are available to take a ride, until you accept a ride and are on your way to pick them up.
I totally agree that you should never lie to an insurance company, or to anyone else for that matter, when asked. But I also understand that our regular policies do not cover ride sharing and commercial insurance is cost prohibited.
I need to dig deeper into this when I have time. My understanding is in the very few states, CA and I think OH and NC that make them primary, your insurance is now secondary. That sounds good but they don’t cover everything so you do need secondary, your own insurance.
You knew the risks you where taking by driving the illegal gypsy Uber. The pax will be going through your insurance, her attorney will make sure of that. Uber does not care about you or your car, did you read what you agreed to before you signed into the uber drivers app.
Most of the few states that offer this new, optional TNC Gap policy have just one insurance company providing it. The state government, red tape and the alleged increased risk for the insurance companies is the hold up. Chances are the TNC Gap policy is with a different company and therefore you would need to change insurance companies in order to get it.
Seems to me an LLC would be a sound move. My wife formed one when she was doing message therapy amd other than the initial filing there were no other costs. Never needed it but it made sense should a table collapse or whatever.
There really isn’t much more protection, it might be good for taxes but its still a 1099. Your wife must have business insurance that you would need and then if your business is a car it is now commercial like a plumber’s van.
What an LLC does is seperate your personal assets from your business. With it nobody can take your house or retirement should you get sued for anything related to your business. Very very importamt.