Getting Insurance for Uber Drivers In Alberta

There is no doubt that ride-sharing services like Uber have changed the way people view day-to-day travel. Uber is among the most used ride-sharing services in the world. The convenience and benefits that come with the application are unlimited and unmatched. You do not need to jump from one point to another to avail of cab services. You can simply download the application and book a taxi directly from your home to get a cab.

Insurance policies are mandatory in Alberta and the rest of Canada. This is why car insurance is essential for Uber drivers in Alberta. If you drive for Uber, you must have separate insurance coverage in addition to your auto and personal insurance.

So in this article, we will be reviewing the benefits of Uber insurance Alberta drivers get access to and more. Meanwhile, if you are looking for car insurance in Alberta, visit https://www.surex.com/insurance/auto-car/alberta to get useful information from the insurance experts at Surex.

Does your car insurance company cover your Uber business?

You must review your insurance policy before signing up for your Uber partner’s account. Some insurance companies do not offer ‘driving for hire,’ so you might not get coverage.

Why do you need insurance while driving for Uber?

If you are driving for Uber, your vehicle is not only a means of getting around; it is how you earn your livelihood. An Uber partner will be driving a lot more than an average driver, so you would mostly want your insurance company to cover higher mileage than the standard insurance policies. Also, driving during midnight hours or in high traffic is risky as you might get into an accident.

Therefore finding the right insurance for Uber drivers in Alberta to cover all these risks is essential. So to protect the Uber Partners, the Superintendent of Insurance Alberta approved a right-sharing insurance policy on July 1, 2016. This policy was to protect both the drivers and the passengers.

Commercial auto insurance offered by Uber for Alberta Uber partners

Alberta Uber insurance provided by Uber covers the following:

$2 million third-party coverage

It covers the driver’s liability to the passengers from the moment they accept an Uber trip until its conclusion.

$2 million uninsured driver coverage

Protects the passengers injured in an accident, the uninsured driver, and a driver without adequate insurance coverage.

Coverage between trips

Uber also offers commercial auto insurance on the driver’s behalf when they are online through the mobile application but have not received or accepted during the trip.

When the insurance is applicable, the insurance company offers $1 million in third-party liability coverage if the insurer denies paying coverage to the third party. This insurance also includes statutory accident benefits and underinsured driver coverage.

Loss or damage of a vehicle

From the moment the Uber driver accepts a trip to its conclusion, the insurance policy covers any damage or loss to the vehicle subject to a $1,000 deductible.

Under this auto Insurance policy, if the driver is available to pick up passengers in between trips, the coverage amount is reduced to $1 million in third-party liability.

How to get insurance for Uber drivers in Alberta?

A significant benefit of driving Uber cabs in Alberta is that a basic commercial car insurance policy will automatically cover you through Intact Financial Corp. Uber will provide this coverage, which means that they will pay the premium for the insurance policy. The insurance covers all the drivers from the moment they log in to the application until they exit their vehicle and log out.

In Alberta, the insurance policy for Uber drivers comes in the following phases:

Phase 0

This is the stage when the Uber application is inactive. In this stage, you are using the vehicle for personal use and are not logged in to the Uber application. In this stage, the driver is protected by their car insurance policy, and Uber Insurance is not applicable.

Phase 1

This is the stage when the Uber application is active, and third-party coverage is in effect. It covers the following:

1. Uber will hand out a sum of $50,000 per injury in an accident caused by the insured Uber partner. This is the maximum amount the victim can receive, and it will not cover the hospital bills of the driver.
2. $25,000 — This sum covers any damage to a property due to an accident involving the Uber driver. This is the maximum amount Uber will be offering for property damage to a third party. This amount does not cover the damage to the driver’s car.
3. $100,000 — This is the maximum injury liability that Uber will cover for accidents sustained by a third party irrespective of the number of persons involved in an accident or injured. Also, this sum will not cover any damages suffered by the Uber partner.

Phase 2

If you have accepted a booking request and are on the way to pick up the passenger from their pick-up location, you will be covered by $1 million third-party liability coverage.

The insurance coverage also includes underinsured bodily injury to the motorists. Also, suppose the Uber partner and the passengers are in an accident and suffer injuries due to the fault of another driver who does not have sufficient insurance coverage. In that case, Uber will be paying the expense.

Steps to follow to purchase car insurance for Uber drivers

1. Firstly you have to confirm with the local authorities whether an insurance policy is available or not. If it is unavailable in your area, you may try commercial insurance policies.
2. Ensure that you fill all the gaps between your Uber insurance policy and personal auto Insurance policy
3. If your state offers rideshare insurance, let your insurance company know that you are an Uber driver. If you fail to mention this, your policy might get canceled.

Endnote

Even though Uber insurance Alberta will cover all the expenses of an at-fault accident, it can still impact the driver’s history. So you need to be vigilant while driving as more accidents can raise the cost of getting personal automobile insurance in the future.