Thursday’s deadline for Uber and Lyft drivers to have extended insurance coverage during the so-called gap while they wait for customers was met, and insurers have rolled out new options for extra coverage.
in June and authorized ridesharing services in Colorado, gave drivers until Jan. 15 to get this gap insurance. Typically, personal insurance stops covering drivers when they turn on the ride-sharing app. Business coverage didn’t start until a driver picks up a passenger.
Uber pledged to cover the gap last spring, company officials said. Lyft has coverage through a third party since March. Drivers also can pay for additional gap insurance or boost existing plans from various providers.
Farmers Insurance
unveiled Rideshare Coverage on Thursday. It extends a customer’s personal policy to cover the rideshare gap for an average 25 percent increase to a customer’s premium cost. USAA also offers gap coverage and estimates it will cost drivers about 10 percent more.
