Uber and Insurance Companies

[DemonKnight]

Hi All

I have been thinking about the Uber business model and started investigating a bit.

It appears that Insurance Companies are not settling claims due to accident damage per chats with some owner/drivers.

Would love to get to the bottom of this, so if anybody has first hand experience with this type of scenario please let me know.

 

[The_MAC]

I'm not 100% sure, but I'm sure that many drivers are insuring their "cabs" for private use, either due to the price or the fact that they only recently became cab drivers and had personal insurance only. In that case, I can imagine that the insurance company will not pay.

I believe that you do get comprehensive car insurance for business/commercial purposes, but its probably very expensive due to the risk.

 

[Paul Bedford]

I believe that you do get comprehensive car insurance for business/commercial purposes, but its probably very expensive due to the risk.

Give or take a bit, the business use cover on my car is about 2.5 times what it would be for private use only.

 

[Dolby]

Uber check the the insurance is correct (business, R5m passenger liability etc) and its probably double standard insurance. A 2013 Corolla 1.3 was around R1,150 or so.

You get companies that specialise in taxi insurance