New car insurance fills gaps and covers drivers before, during and after trips
ERIE, Pa., Nov. 18, 2014 /PRNewswire/ -- Erie Insurance has launched what it believes to be a first-of-its-kind coverage to protect drivers who use ridesharing services like Uber and Lyft. The new car insurance coverage solves a longstanding problem for drivers in the ridesharing economy by eliminating confusion over what's covered and when. With ERIE's new coverage, the driver has insurance coverage during every part of the trip—before, during and after the hired ride.
"The Erie Insurance motto is 'Above All in Service', which means we put customers first and provide them with the best possible protection," said
Cody Cook, auto product vice president, Erie Insurance. "In this case, we saw a need in the sharing economy and filled it."
With ridesharing apps, instead of using a taxi service, people summon private car owners to pick them up. But while ridesharing is becoming increasingly popular, it's also controversial due to the lack of clarity around whom, if anyone, provides insurance coverage.
The new Erie Insurance coverage is available to people who put a "business use" designation on their personal car insurance policy.