Ride sharing insurance

Insurance product destined for the ride sharing market

Erie Insurance (US) has developed product destined for the ride sharing market. Cody Cook, the company’s VP for auto claims that premium increases on average by 30-35% (certainly less expensive than commercial auto insurance). Cook explains: “We’re using a traditional class called ‘business use.’ For customers that have the ‘business use’ designation on the insured vehicle, the livery exclusion—which is standard in auto policies—no longer applies.”

Photo : Über