RIDE-SHARING CREATES GAP IN INSURANCE

Virtually all personal automobile insurance policies contain an exclusion while the vehicle is being used as a public or livery conveyance. Even though Uber and Lyft are considered "ride-sharing", there is an exchange of money for the services performed making it, in essence, a taxi service and thus no coverage would be afforded in the event of a loss.

WHY IS IT A CONCERN FOR YOU?

• The financial burden could be huge
• No coverage for the damage to your vehicle
• No coverage for those injured in the accident
• No coverage for nasty litigation resulting from the event
  
  

LET KAPNICK HELP!

At Kapnick, we have the tools and expertise to provide economical solutions that are more than just "selling" you an insurance policy. Our experts can help you identify and quantify your risk exposures allowing you peace of mind.

• Contact us if you are engaged in a Ride-Sharing business to make sure we properly structure your
  insurance coverage.
• Some innovative insurance carriers are now offering "Ride-Sharing" endorsements, closing the gap in insurance.
• A business automobile policy could be a viable solution.
• Select one car, and only one car, as your designated service vehicle and purchase the proper insurance on
  that auto.
• Perform a cost/benefit analysis to determine if the revenue received from Tide-Sharing is worth the added
  risk and cost.
  
  

FOR MORE INFORMATION:

Sam Engardio
P:517-265-1860
E:sam.engardio@kapnick.com