# My bank requires that I have collision insurance until I pay off my car loan



## SlackerInc (Aug 22, 2018)

Is that going to be prohibitively expensive given that I just drive a few hours a week (mainly late nights on weekends and when there is a concert or football game)?

I can’t believe I drove for several weeks without even considering any of this.


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## njn (Jan 23, 2016)

What does having collision coverage have to do with uber? You need to get it anyway if you drive commercially or not. Make sure you inform your insurance company that you are driving for uber so they can provide you with the proper coverage.


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## SlackerInc (Aug 22, 2018)

What it has to do with is that (unless I’m understanding wrong) the coverage that Uber has, that primarily kicks into gear when you are carrying pax or at least driving to a pickup, is medical and liability but not collision. The Rideshare Guy site says if you are in an accident during that phase, you should not show your own personal insurance but instead show the Uber insurance listed in the waybill.

So if I owned my car free and clear, that would all be fine. My point is that if my bank is expecting me to constantly have collision coverage that applies even if the accident is my fault, that would not be the case while driving pax. Right?


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## backcountryrez (Aug 24, 2017)

Having collision is normally a requirement for the lender if they have an interest in the vehicle. Reason being is that if you hit someone and don't have coverage, the injured party can legally come after the owner of the car (in this case, the lender) for any monies due.

If you're a careful driver (or have $1-1.5k readily available), having a high deductible can reduce the costs of carrying this coverage.


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## SlackerInc (Aug 22, 2018)

Good point.


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## BigJohn (Jan 27, 2016)

For a person to NOT have collision/comprehensive insurance on their vehicle means that in the event of an accident where no other party is at fault, you will be 100% responsible for the repairs/replacement of your vehicle.

So if you have a vehicle with a current value of $5,000, do you have that amount of money sitting in a bank to replace that vehicle if it is totaled?


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## SlackerInc (Aug 22, 2018)

No, but I have been driving for nearly 30 years, and the only two times I have ever had an accident that was my fault was when I was still in high school.


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## BigJohn (Jan 27, 2016)

SlackerInc said:


> No, but I have been driving for nearly 30 years, and the only two times I have ever had an accident that was my fault was when I was still in high school.


Then I congratulate you on being a current infallible perfect driver. For the rest of us that are human and make mistakes, we need to carry collision/comp on our insurance.


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## HotUberMess (Feb 25, 2018)

Your coverage doesn't stop when you’re covered with Uber’s insurance, you know


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## BigJohn (Jan 27, 2016)

HotUberMess said:


> Your coverage doesn't stop when you're covered with Uber's insurance, you know


Only IF you have a proper rideshare rider or have a commercial auto insurance policy.


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## njn (Jan 23, 2016)

SlackerInc said:


> the coverage that Uber has, that primarily kicks into gear when you are carrying pax or at least driving to a pickup, is medical and liability but not collision


Uber does provide collision coverage if and only if you have collision on your personal insurance.


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## islanddriver (Apr 6, 2018)

Not in stage one


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## SlackerInc (Aug 22, 2018)

It’s all rather confusing.

So shouldn’t we avoid stage one? Go offline after dropping off pax until you can find a place to park and wait for a ping.


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## Christinebitg (Jun 29, 2018)

BigJohn said:


> Then I congratulate you on being a current infallible perfect driver. For the rest of us that are human and make mistakes, we need to carry collision/comp on our insurance.


It's lovely to have the fantasy that as a good driver that somehow protects you from the stupid stuff other people do.

Don't get me wrong, it helps. Defensive driving is real and useful. But you can still be on the receiving end of someone else's screwup.

Christine



backcountryrez said:


> Having collision is normally a requirement for the lender if they have an interest in the vehicle. Reason being is that if you hit someone and don't have coverage, the injured party can legally come after the owner of the car (in this case, the lender) for any monies due


The first part is right. The second part is irrelevant.

The reason that a lender requires you to carry collision and comprehensive coverages is because their loan is secured by the vehicle's title. If your car can get wiped out in an accident, the lender has no protection when that happens. They just want to make sure that the loan gets paid off if the vehicle goes away.

Christine


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## SlackerInc (Aug 22, 2018)

I don’t have any such illusions, that I am protected from other people’s screwups. But that’s not what collision coverage is for. My car was bought for $14K four months ago; if our lender allowed it, I would gladly drop all but the legal minimum liability.


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## BigJohn (Jan 27, 2016)

SlackerInc said:


> I don't have any such illusions, that I am protected from other people's screwups. But that's not what collision coverage is for. My car was bought for $14K four months ago; if our lender allowed it, I would gladly drop all but the legal minimum liability.


A person that believes he has the answers is not understanding the question.


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## Bluto1899 (Aug 24, 2018)

SlackerInc said:


> I don't have any such illusions, that I am protected from other people's screwups. But that's not what collision coverage is for. My car was bought for $14K four months ago; if our lender allowed it, I would gladly drop all but the legal minimum liability.


So if you fall asleep at the wheel and total your car, you have the means to not only pay back your full loan amount, but be able to purchase a replacement vehicle?


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## SlackerInc (Aug 22, 2018)

Bluto1899 said:


> So if you fall asleep at the wheel and total your car, you have the means to not only pay back your full loan amount, but be able to purchase a replacement vehicle?


No, definitely not. I'm willing to take that risk, because I am confident I won't do that. It's not a likely enough risk to waste the premium on.


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## Bluto1899 (Aug 24, 2018)

SlackerInc said:


> No, definitely not. I'm willing to take that risk, because I am confident I won't do that. It's not a likely enough risk to waste the premium on.


That is a risky game to play. I once had a huge tree limb on public property break off out of nowhere on a sunny calm day and smash my truck. It was through no fault of my own, nor was there anyone else to blame. Sometimes, things happen. I'm driving 25 years without incident. I trust myself too. I can't afford my premiums. I still have collision.


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## Z129 (May 30, 2018)

Your bank is smart. They want their investment protected. Get properly insured, go drive, pay off your loan and then drop down to liability if you want. I rest well knowing that in event of an accident I am well-insured.


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## Christinebitg (Jun 29, 2018)

SlackerInc said:


> No, definitely not. I'm willing to take that risk, because I am confident I won't do that. It's not a likely enough risk to waste the premium on.


If you can buy another one, that's a legitimate case for not needing collision coverage.

If you can't, then you NEED collision coverage, or you could be put out of business through no fault of your own.

Christine


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## SlackerInc (Aug 22, 2018)

Bluto1899 said:


> That is a risky game to play. I once had a huge tree limb on public property break off out of nowhere on a sunny calm day and smash my truck. It was through no fault of my own, nor was there anyone else to blame. Sometimes, things happen. I'm driving 25 years without incident. I trust myself too. I can't afford my premiums. I still have collision.


But if you had just put that extra premium money in a rainy day savings account, wouldn't you have come out ahead even after paying for the tree limb damage? (And BTW, I would have considered suing the public entity that owned the tree.)



Z129 said:


> Your bank is smart. They want their investment protected. Get properly insured, go drive, pay off your loan and then drop down to liability if you want. I rest well knowing that in event of an accident I am well-insured.


Sure-I'm not going to drive without the full requirement. I stopped as soon as I realized what was going on. But I've already been turned down by Geico, and I'm concerned about whether I'll be able to find an affordable carrier. I apparently drive too much for Geico's taste (I estimated 20 trips per week, average distance 2 miles, which I expected to be lowballing if anything), but given how much my wife uses the car, or we use it together as a family, I wouldn't be able to Uber with it enough to pay for a true commercial policy.



Christinebitg said:


> If you can buy another one, that's a legitimate case for not needing collision coverage.
> 
> If you can't, then you NEED collision coverage, or you could be put out of business through no fault of your own.
> 
> Christine


Because of a tree branch situation, you mean? Isn't there insurance that will pay for "every scenario except where you're at fault, plus liability when you're at fault"? That would be my ideal insurance.


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## FXService (Oct 8, 2017)

SlackerInc said:


> Is that going to be prohibitively expensive given that I just drive a few hours a week (mainly late nights on weekends and when there is a concert or football game)?
> 
> I can't believe I drove for several weeks without even considering any of this.


As someone who now works in insurance, ALL BANKS require you to have comprehensive and collision on any vehicle they finance. Remember it is their car until you pay it off. and if your driving record is as good as you say then you shouldn't have a problem unless you've made a lot of comprehensive claims, have bad credit, have lapses in coverage, etc, etc, etc. and like people said if you can keep 1k or 1,500 aside at all times without ever touching it the raise your deductible to that amount. The biggest factors affecting your insurance rates that you can control with policy modification are liability limits and comp/col deductibles. Higher deductibles means lower rates. , also higher deductibles means get your own estimate for minor damage. I would recommend also getting a basic AAA plan just for the towing so you won't even have to use your insurance policy's towing or adjuster for an estimate. (yes using towing increases your rates. not as much as an accident. it is still considered a claim)


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## Fuzzyelvis (Dec 7, 2014)

SlackerInc said:


> Is that going to be prohibitively expensive given that I just drive a few hours a week (mainly late nights on weekends and when there is a concert or football game)?
> 
> I can't believe I drove for several weeks without even considering any of this.


I can't believe it either.


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## Christinebitg (Jun 29, 2018)

SlackerInc said:


> Because of a tree branch situation, you mean? Isn't there insurance that will pay for "every scenario except where you're at fault, plus liability when you're at fault"?


I wasn't referring to just tree branches. There can always be an unseen hazard by the side of the road. Or a drunk who doesn't have insurance.

If you can't afford to replace it, you need to buy coverage.

And if you think you could never up "because you're really really careful," ask yourself how many miles you drive in a month or a year. Can you honestly and truthfully say you've never run a stop sign or red light that you didn't see until it was too late?

I can't make that claim. I don't think any human could.

Christine


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## Bluto1899 (Aug 24, 2018)

SlackerInc said:


> But if you had just put that extra premium money in a rainy day savings account, wouldn't you have come out ahead even after paying for the tree limb damage? (And BTW, I would have considered suing the public entity that owned the tree.).


Definitely not. It would have been several years of premiums to equal it out. Plus, about a year earlier, I came out to my car in a parking lot, and someone had backed into it. No note, no witnesses. $1100 in damage. The tree was closer to $5000. My TOTAL insurance payment, on two cars with full coverage, it $235/month. No way I'm able to put enough away to have that big of a cushion. 
I also thought about, and looked into suing the municipality that owned the tree. That was the problem. The town claimed it was on county property, the county said the thought it belonged to the state, and the state was sure it was the town's. If I had to pay a lawyer to figure it out, it would have far exceeded my $500 deductible.


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## Christinebitg (Jun 29, 2018)

Bluto1899 said:


> The town claimed it was on county property, the county said the thought it belonged to the state, and the state was sure it was the town's. If I had to pay a lawyer to figure it out, it would have far exceeded my $500 deductible.


And THEN there's the issue of sovereign immunity. It's real normal for government entities to have to consent to being sued. Guess who ends up holding the bag.

AND you have to find an attorney willing to take the case. We're talking amounts that are greater than small claims court, although some locations have JP courts that don't require a lawyer.

My Significant Other is a trial lawyer. The rate for my SO is $350 per hour. Lots of times, attorneys fees are not recoverable in the judgement, even if you win. That's $350 per hour for all the time the attorney spends on it, not just the time in court.

Christine


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## Fozzie (Aug 11, 2018)

SlackerInc said:


> But if you had just put that extra premium money in a rainy day savings account, wouldn't you have come out ahead even after paying for the tree limb damage? (And BTW, I would have considered suing the public entity that owned the tree.)
> 
> Sure-I'm not going to drive without the full requirement. I stopped as soon as I realized what was going on. But I've already been turned down by Geico, and I'm concerned about whether I'll be able to find an affordable carrier. I apparently drive too much for Geico's taste (I estimated 20 trips per week, average distance 2 miles, which I expected to be lowballing if anything), but given how much my wife uses the car, or we use it together as a family, I wouldn't be able to Uber with it enough to pay for a true commercial policy.
> 
> Because of a tree branch situation, you mean? Isn't there insurance that will pay for "every scenario except where you're at fault, plus liability when you're at fault"? That would be my ideal insurance.


Good god man, who is your insurance company, and what kind of car do you drive? Full coverage isn't that expensive, especially if you have a clean driving record. On my rideshare vehicles (2016 Altima and 2017 Sentra) I have full coverage, comprehensive, and rideshare with a $500 deductible and my premium is barely $150 /mo. (USAA)


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## SlackerInc (Aug 22, 2018)

FXService said:


> As someone who now works in insurance, ALL BANKS require you to have comprehensive and collision on any vehicle they finance. Remember it is their car until you pay it off. and if your driving record is as good as you say then you shouldn't have a problem unless you've made a lot of comprehensive claims, have bad credit, have lapses in coverage, etc, etc, etc. and like people said if you can keep 1k or 1,500 aside at all times without ever touching it the raise your deductible to that amount. The biggest factors affecting your insurance rates that you can control with policy modification are liability limits and comp/col deductibles. Higher deductibles means lower rates. , also higher deductibles means get your own estimate for minor damage. I would recommend also getting a basic AAA plan just for the towing so you won't even have to use your insurance policy's towing or adjuster for an estimate. (yes using towing increases your rates. not as much as an accident. it is still considered a claim)


I do have comprehensive insurance-the minimum the bank requires in all particulars. But reviewing the policy, it clearly says ridesharing is an "EXCLUSION". So without realizing it, I was violating the policy for the several weeks I drove for Uber. I have stopped now and will not resume unless and until I find an insurer who will cover me without this exclusion. Geico already turned me down.

Oh, and I have had AAA Plus for many years.



Fuzzyelvis said:


> I can't believe it either.


Uber required me to show proof of insurance. I think they also should have warned me that my insurer does not allow rideshare driving.


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## observer (Dec 11, 2014)

Collision insurance is required by the bank to make sure their car is covered in an accident and they will get paid money owed to them.

If you drop your insurance and the bank finds out, they will very likely repo the car because you broke your contract.


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## Older Chauffeur (Oct 16, 2014)

observer said:


> Collision insurance is required by the bank to make sure their car is covered in an accident and they will get paid money owed to them.
> 
> If you drop your insurance and the bank finds out, they will very likely repo the car because you broke your contract.


I haven't financed a car in many years, but I think the contracts used to state that if you failed to carry physical damage insurance listing the lender and their interest they would purchase Vendor's Single Interest coverage and add the costs to the loan. Probably an easier and more cost effective way to solve the problem.


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## Z129 (May 30, 2018)

I hate to sound like I am spamming for an insurance company, but I've had great luck with State Farm. Insurance is such a state by state thing, but they are ride-share friendly and they are a national company. There are other major insurance companies that are ride-share friendly as well. I just don't have experience with them.


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## observer (Dec 11, 2014)

Older Chauffeur said:


> I haven't financed a car in many years, but I think the contracts used to state that if you failed to carry physical damage insurance listing the lender and their interest they would purchase Vendor's Single Interest coverage and add the costs to the loan. Probably an easier and more cost effective way to solve the problem.


They will, at a much much higher cost.

I seem to remember in one of my old contracts that dropping insurance was enough to repo because the contract was broken.


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## BigJohn (Jan 27, 2016)

SlackerInc said:


> I do have comprehensive insurance-the minimum the bank requires in all particulars. But reviewing the policy, it clearly says ridesharing is an "EXCLUSION". So without realizing it, I was violating the policy for the several weeks I drove for Uber. I have stopped now and will not resume unless and until I find an insurer who will cover me without this exclusion. Geico already turned me down.
> 
> Uber required me to show proof of insurance. I think they also should have warned me that my insurer does not allow rideshare driving.


Almost every personal auto insurance policy includes language specifically excluding ANY commercial use of the covered vehicle, not just rideshare.

What you need is a rideshare rider onto a personal auto insurance policy. Every state is different as to which insurance companies offer that.

Oh and no it is NOT Uber's job to read your personal auto insurance policy and explain it to you. That is YOUR job.


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## Christinebitg (Jun 29, 2018)

SlackerInc said:


> But reviewing the policy, it clearly says ridesharing is an "EXCLUSION". So without realizing it, I was violating the policy for the several weeks I drove for Uber.


You'll want to review the policy very carefully, obviously.

However (clearing throat) an exclusion doesn't necessarily mean you have voided the coverage for when you're not driving rideshare. The coverage provided by Uber is intended to cover when you are.

So the question can be: Does any commercial use void the coverage the rest of the time as well?

I'm going to be reviewing my coverage coming up soon too.

Christine


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## SlackerInc (Aug 22, 2018)

Interesting, Christine.



observer said:


> Collision insurance is required by the bank to make sure their car is covered in an accident and they will get paid money owed to them.
> 
> If you drop your insurance and the bank finds out, they will very likely repo the car because you broke your contract.


Why do people keep saying this? I never suggested I was going to drop my insurance. All along I have been saying my intent is to either get everything above board and proper for all concerned parties, or stop driving for Uber if that's not affordable.



Z129 said:


> I hate to sound like I am spamming for an insurance company, but I've had great luck with State Farm. Insurance is such a state by state thing, but they are ride-share friendly and they are a national company. There are other major insurance companies that are ride-share friendly as well. I just don't have experience with them.


Thanks, I emailed a State Farm agent and outlined my situation. Will report back on how that goes.


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## BigJohn (Jan 27, 2016)

Christinebitg said:


> You'll want to review the policy very carefully, obviously.
> 
> However (clearing throat) an exclusion doesn't necessarily mean you have voided the coverage for when you're not driving rideshare. The coverage provided by Uber is intended to cover when you are.
> 
> ...


Generally speaking, yes using the vehicle for purposes excluded by the policy is a violation of the terms of the policy and if you read the policy further any violation of the terms of the policy is grounds for cancellation, and in the case of a prohibited use, possible cancelation retroactive to the time it can be proven that the prohibited activity was taking place.


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## observer (Dec 11, 2014)

SlackerInc said:


> Interesting, Christine.
> 
> Why do people keep saying this? I never suggested I was going to drop my insurance. All along I have been saying my intent is to either get everything above board and proper for all concerned parties, or stop driving for Uber if that's not affordable.
> 
> Thanks, I emailed a State Farm agent and outlined my situation. Will report back on how that goes.


I wasn't saying you had dropped it, I was being hypothetical.

See the "if".


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## SlackerInc (Aug 22, 2018)

observer said:


> I wasn't saying you had dropped it, I was being hypothetical.
> 
> See the "if".


Okay, but that was never remotely under consideration.

BTW, the State Farm agent gave a positive-sounding reply to my email. Now he's got all the key info (VIN, DL#, etc.) and we'll see what he comes up with as a quote. Fingers crossed!


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## Christinebitg (Jun 29, 2018)

SlackerInc said:


> Why do people keep saying this?


Because you said you that if you could, you'd drop everything except the legal minimums.

Christine


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## SlackerInc (Aug 22, 2018)

Christinebitg said:


> Because you said you that if you could, you'd drop everything except the legal minimums.
> 
> Christine


But saying "if I could" means I already know I can't.


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## Christinebitg (Jun 29, 2018)

SlackerInc said:


> But saying "if I could" means I already know I can't.


You legally can as soon as you pay off your car loan, right?

C


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## SlackerInc (Aug 22, 2018)

Christinebitg said:


> You legally can as soon as you pay off your car loan, right?
> 
> C


Yes, years from now.

I got a quote from State Farm: $110 a month. Currently I am paying $213 every six months. So that would kind of hurt. Does this seem like a normal increase? I don't see why I have to pay more at all, if Uber is covering the time when I drive. I guess it's that Stage 1 or whatever, when the app is on but you have no ping? I would be happy to park while waiting for a ping, but of course they have to go by average behavior.


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## BigJohn (Jan 27, 2016)

SlackerInc said:


> I got a quote from State Farm: $110 a month. Currently I am paying $213 every six months. Does this seem like a normal increase?
> 
> I don't see why I have to pay more at all, if Uber is covering the time when I drive. I guess it's that Stage 1 or whatever, when the app is on but you have no ping?


You are asking if that is a normal increase. Not it is not. However you did not say if the coverage amounts types are the same. However, $110 a month is quite normal. What is not normal is $426 per year. That is very low.

Why should you pay more, because you are doing more and thereby increasing the overall risk of the insurance company have to do a payout.


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## SlackerInc (Aug 22, 2018)

BigJohn said:


> You are asking if that is a normal increase. Not it is not. However you did not say if the coverage amounts types are the same. However, $110 a month is quite normal. What is not normal is $426 per year. That is very low.
> 
> Why should you pay more, because you are doing more and thereby increasing the overall risk of the insurance company have to do a payout.


Not if I don't drive when I don't have a ping, but it's unlikely I could convince them of that.

The coverage amounts are indeed the same-the minimum required by the bank. My current policy is something I bought through Costco. But as I say, I have a pristine driving record (I don't think they count my accidents from nearly thirty years ago when I was a new driver) and so does my wife.


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## Z129 (May 30, 2018)

$110 a month to cover you is well worth it. I pay just under $90, but I'm getting a discount because they insure my home as well.


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## BigJohn (Jan 27, 2016)

SlackerInc said:


> My current policy is something I bought through Costco.


And therein explains the drastic price difference.


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## SlackerInc (Aug 22, 2018)

BigJohn said:


> And therein explains the drastic price difference.


But it doesn't explain why the Costco insurer won't let me drive for Uber.

In any case, I followed up to ask if there would be mileage restrictions, and the agent said no, so I'm going to bite the bullet and switch.


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## BigJohn (Jan 27, 2016)

SlackerInc said:


> But it doesn't explain why the Costco insurer won't let me drive for Uber.


Costco products (including travel and insurance and such) are all very specifically setup for member savings. There is no deviation on them. Take them or leave them. That is the way that the cost is kept as low as possible.

Since doing rideshare requires a rideshare rider onto the policy, that would not be possible at Costco as that is a deviation from the actual product. (In this case an insurance policy.)


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## observer (Dec 11, 2014)

SlackerInc said:


> But it doesn't explain why the Costco insurer won't let me drive for Uber.
> 
> In any case, I followed up to ask if there would be mileage restrictions, and the agent said no, so I'm going to bite the bullet and switch.





BigJohn said:


> Costco products (including travel and insurance and such) are all very specifically setup for member savings. There is no deviation on them. Take them or leave them. That is the way that the cost is kept as low as possible.
> 
> Since doing rideshare requires a rideshare rider onto the policy, that would not be possible at Costco as that is a deviation from the actual product. (In this case an insurance policy.)


There are also companies that cater to specific risk groups. Some only want drivers with excellent records, others will take anyone with a pulse.

AAA doesn't cover rideshare either.


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## peteyvavs (Nov 18, 2015)

First off any loan company or bank will require full coverage to protect their interest, second your insurance company will drop you if they find out you do rideshare, and third if you're the cause an accident you better have the total payoff for the car because you will still owe the bank, Uber will not cover you. Uber only provides types of insurance coverage which you carry, other words if you don't have comp and collision Uber doesn't fix your car.


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## SlackerInc (Aug 22, 2018)

peteyvavs said:


> First off any loan company or bank will require full coverage to protect their interest, second your insurance company will drop you if they find out you do rideshare, and third if you're the cause an accident you better have the total payoff for the car because you will still owe the bank, Uber will not cover you. Uber only provides types of insurance coverage which you carry, other words if you don't have comp and collision Uber doesn't fix your car.


OMG.

I have comp and collision already. I have always had it on this car, because the bank requires it. I have never remotely considered going against any of the requirements, whether they were my bank's requirements or my insurance company's. I may have expressed irritation with some of those requirements, but that didn't mean I was even remotely considering breaking the rules! I don't know how many different ways I have to say this.


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## Cary Grant (Jul 14, 2015)

I've had to submit three claims on Uber's commercial policy for comprehensive and collision. In all three situations, the first thing their adjuster asked for was proof of my own comp/collision coverage, with declarations pages, etc. If I didn't have it, then their policy doesn't cover damage caused by pax, or other drivers, regardless of trip stage. Even then, I had to submit a claim on my own coverage, because Uber's commercial policy has a $1,000 deductible, and my personal deductible was substantially lower, so my company paid on the gap, and after I squeezed Uber for a $250 inconvenience fee, I was made whole every time. Royal pain in the arse, too.

Random Anecdotes: I've hauled at least two people home from work in the last year that had their cars repo'd while they were at work. In both cases, they had let their coverage comp/collision coverage lapse. Even though they had not missed a loan payment, the lender took the car away. Why? Financial responsibility. Either you demonstrate you have it, by keeping the coverage inforce, with NO GAPS...OR...you fail to demonstrate it by letting coverage lapse. Both admitted they had purchased a used car from a "buy here, pay here" or "we tote the note" car lot, so it should not come as a surprise that the true owner of the car took possession when his debtor failed to demonstrate financial responsibility.


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## SlackerInc (Aug 22, 2018)

Cary Grant said:


> I've had to submit three claims on Uber's commercial policy for comprehensive and collision. In all three situations, the first thing their adjuster asked for was proof of my own comp/collision coverage, with declarations pages, etc. If I didn't have it, then their policy doesn't cover damage caused by pax, or other drivers, regardless of trip stage. Even then, I had to submit a claim on my own coverage, because Uber's commercial policy has a $1,000 deductible, and my personal deductible was substantially lower, so my company paid on the gap, and after I squeezed Uber for a $250 inconvenience fee, I was made whole every time. Royal pain in the arse, too.


Interesting. My deductible is $1,000 (because, again, this is the highest my bank will allow), so if I do have to file a claim it sounds like that match will streamline it.


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## SEAL Team 5 (Dec 19, 2015)

SlackerInc said:


> Is that going to be prohibitively expensive given that I just drive a few hours a week (mainly late nights on weekends and when there is a concert or football game)?
> 
> I can't believe I drove for several weeks without even considering any of this.


Driving for Uber has no variance for your bank to require you to carry comp/coll on your vehicle. Your bank is the lien holder and by law they can and will require you to carry full coverage until your vehicle is paid for.

On a side note, is your bank aware of the high deductibles especially Lyft's $2,500? The worst thing you want to do to your lienholder is lie about driving rideshare. Your lienholder has every right to retro act a commercial insurance policy from the very 1st day you started with Uber and add that to the lien. Trust me when I tell you that your lienholder will not shop for the best price if they purchase a commercial policy for you.

Good luck


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## SlackerInc (Aug 22, 2018)

SEAL Team 5 said:


> Driving for Uber has no variance for your bank to require you to carry comp/coll on your vehicle. Your bank is the lien holder and by law they can and will require you to carry full coverage until your vehicle is paid for.
> 
> On a side note, is your bank aware of the high deductibles especially Lyft's $2,500? The worst thing you want to do to your lienholder is lie about driving rideshare. Your lienholder has every right to retro act a commercial insurance policy from the very 1st day you started with Uber and add that to the lien. Trust me when I tell you that your lienholder will not shop for the best price if they purchase a commercial policy for you.
> 
> Good luck


I'm not going to lie (I can't believe how many people think I'm going to be shady about this and that). As soon as I realized my insurance prohibited rideshare, I signed out of Uber and have not signed back since.

I don't drive for Lyft, just Uber. A pax told me another Uber driver told her "all drivers drive for both", but I am here to tell you it's not all, because I never have signed up for Lyft and have no plans to.


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## Christinebitg (Jun 29, 2018)

SlackerInc said:


> I am here to tell you it's not all, because I never have signed up for Lyft and have no plans to.


I am the same. I haven't signed up to drive for Lyft and don't plan to.

Why? Because I don't want to learn the idiosyncrasyes of another system, when they have maybe 10% of my home market.

Christine


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## SlackerInc (Aug 22, 2018)

Christinebitg said:


> I am the same. I haven't signed up to drive for Lyft and don't plan to.
> 
> Why? Because I don't want to learn the idiosyncrasyes of another system, when they have maybe 10% of my home market.
> 
> Christine


Right, plus if I understand correctly, people are signing in to both apps at the same time. What if you get two simultaneous pings? Just sounds confusing and stressful.


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## dmoney155 (Jun 12, 2017)

It's the same way here in Canada. The financed cars are fully insured for the reasons as other posters have said. Also note on the insurance paperwork who gets the payout. In my case it's the lender. Ie, something happens to the car, they wanna make sure they get their money back. Simple as that.


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## Fuzzyelvis (Dec 7, 2014)

SlackerInc said:


> I do have comprehensive insurance-the minimum the bank requires in all particulars. But reviewing the policy, it clearly says ridesharing is an "EXCLUSION". So without realizing it, I was violating the policy for the several weeks I drove for Uber. I have stopped now and will not resume unless and until I find an insurer who will cover me without this exclusion. Geico already turned me down.
> 
> Oh, and I have had AAA Plus for many years.
> 
> Uber required me to show proof of insurance. I think they also should have warned me that my insurer does not allow rideshare driving.


No I meant I can't believe you didn't have the sense to check you were fully covered. Does NO ONE read their policy?


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## SlackerInc (Aug 22, 2018)

Fuzzyelvis said:


> No I meant I can't believe you didn't have the sense to check you were fully covered. Does NO ONE read their policy?


I didn't read it until Uber made me confirm that I read disclaimers about insurance that were actually aimed at people in other states. Since I knew there was insurance coverage from Uber while driving for them, it really didn't seem like it could be a problem. And I still think Uber's insurance should be designed so there is no reason for it to impact your personal policy.


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## UberLaLa (Sep 6, 2015)

Here are a couple of nuggets to chew on. 1. If you are hit by an uninsured motorist, your comprehensive insurance will kick in (if you carry uninsured motorist) and you will need to cover the deductible. This also applies to 'hit and run.'

2. Lyft's deductible is $2,500.

Welcome to Rideshare Fail...


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## SlackerInc (Aug 22, 2018)

As noted above, I never signed up for Lyft. This information doesn’t encourage me to.


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## UberLaLa (Sep 6, 2015)

SlackerInc said:


> As noted above, I never signed up for Lyft. This information doesn't encourage me to.


I've finished entire thread now...I see that about Lyft, good call.

What about the fact that you will be on the hook for that $1k deductible if you are in an accident with an uninsured motorist and/or hit and run?

IMO, best case scenario in all of this, if you do not need to drive Uber, do not.

Good luck!


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## SlackerInc (Aug 22, 2018)

Thanks. I hear you, but I do need to.


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## UberLaLa (Sep 6, 2015)

SlackerInc said:


> Thanks. I hear you, but I do need to.


I have over 7k U/L trips. Been hit twice (both times drivers ran their red light) while I was driving U/L with passenger/s in car. Neither time did I have to pay anything other than loss of earnings while my vehicle in the shop.

Both U&L's insurance are worthless. Only helps if passenger is injured, imo. You will need to pay additional amount on your personal insurance to drive U/L, as you are seeing. I no longer use my personal insurance for U/L - I have commercial insurance, now.


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## SlackerInc (Aug 22, 2018)

That sucks.

There is so much that is crappy and very low paying (if you honestly account for expenses including maintenance and depreciation) about this “job”, but I am otherwise unemployable and my family really needs the money, pittance though it is.


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## Christinebitg (Jun 29, 2018)

UberLaLa said:


> What about the fact that you will be on the hook for that $1k deductible if you are in an accident with an uninsured motorist and/or hit and run?


I carry $1,000 deductibles on collision and comprehensive coverage on my personal auto insurance also. In my opinion, it's the best compromise in terms of premium costs and carrying some the risk myself.

I can handle the $1,000 payout myself, if I have to. I'd rather not, but I can. And boiled down to the essentials, that's what insurance is for. To protect you from a large risk that you can't handle on your own.

If a person can't handle that amount, it's time to go shopping for additional coverage. Or save up until you can handle that amount, since that additional coverage wouldn't be cheap.

Christine


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## SlackerInc (Aug 22, 2018)

Exactly. The insurance company loves to see you buy a low deductible.


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## Christinebitg (Jun 29, 2018)

SlackerInc said:


> Exactly. The insurance company loves to see you buy a low deductible.


I don't know if the insurance company does, but the agent certainly does.


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## UberLaLa (Sep 6, 2015)

Christinebitg said:


> I carry $1,000 deductibles on collision and comprehensive coverage on my personal auto insurance also. In my opinion, it's the best compromise in terms of premium costs and carrying some the risk myself.
> 
> I can handle the $1,000 payout myself, if I have to. I'd rather not, but I can. And boiled down to the essentials, that's what insurance is for. To protect you from a large risk that you can't handle on your own.
> 
> ...


If you have an accident on Lyft with phase 2 or 3, you will have a $2,500 deductible. : /


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## Cary Grant (Jul 14, 2015)

If you package it correctly, using a good broker, you can dial down deductibles, while significantly ramping up coverage limits, and end up paying about the same as those who buy minimum financial responsibility. It seems almost unfair, but people who make financially responsible choices pay less than those who do the other things.

There are about 2,800 commercial companies writing property and casualty coverages. Insurance isn't a commodity. Lots of variables, many of which you can control. For example, living in a lower rent and/or higher crime rate 'hood can cost you more for your insurance. Being a slow payer on debts, having a high debt to income ratio, and a low FICO score? Bad driving habits have external costs. You're going to pay more, and you can't blame anyone else for this. But you CAN fix it, by simply making better choices.

One of the things that can F you for life: Fraud. Malingering. 

You may think you got away with it (false claims, exaggerated claims, frivolous litigation, lying on an application), but once you get reported for fraud on an insurance database, that can follow you for life. CLUE reports have codes in them that underwriters recognize, but are meaningless to consumers. Other consumer reporting agencies have all sorts of data that look like gibberish to consumers, but have real meaning to the gatekeepers.


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## BigJohn (Jan 27, 2016)

SlackerInc said:


> I didn't read it until Uber made me confirm that I read disclaimers about insurance that were actually aimed at people in other states. Since I knew there was insurance coverage from Uber while driving for them, it really didn't seem like it could be a problem. And I still think Uber's insurance should be designed so there is no reason for it to impact your personal policy.


Let me explain this one last time for you. It is not Uber's insurance that is causing an impact to your personal auto insurance policy. It is YOU causing an impact to your personal auto insurance policy. YOU made a voluntary decision to do something that was expressly in violation of the terms of YOUR insurance policy. That is not on Uber, or their insurance provider.

MOST personal auto insurance policies EXPRESSLY PROHIBIT ANY COMMMERCIAL USE of the covered vehicle.

THAT is what YOU voluntarily did. Not Uber. Not Uber's insurance provider.

To resolve that situation that YOU put YOURSELF into, YOU need to either get an insurance policy with a rideshare rider on it or a commercial insurance policy.

So many people just do not get it: An insurance policy is a binding legal contact. It is up to YOU to read it and understand it.


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## njn (Jan 23, 2016)

SlackerInc said:


> So shouldn't we avoid stage one?


No, all miles driven during stage 1 are tax deductible.


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## SlackerInc (Aug 22, 2018)

Christinebitg said:


> I don't know if the insurance company does, but the agent certainly does.


Their interests run in tandem: lower deductible means more profit for both. The average person will pay more over the long run with a lower deductible. Of course, the same applies to insurance in general, or it wouldn't make profits for insurance companies and pay the salaries and office overhead for all those insurance employees and executives. But as you noted upthread, it's still worthwhile to buy it (even if it weren't required by the law, banks, etc. depending on your situation and the level of coverage) because although you are most likely to come out ahead if you don't buy insurance, the small chance that you might have a big claim that could be ruinous is too great a risk to accept. The risk that you might have to pay $750 out of pocket (the difference between a $250 and $1,000 deductible) is not ruinous. If it is, you probably shouldn't even have a car. I myself went several years without one: my wife and I and our four kids walked or biked everywhere from 2009 to 2012.



UberLaLa said:


> If you have an accident on Lyft with phase 2 or 3, you will have a $2,500 deductible. : /


Good thing I'm not planning on driving for Lyft then!



Cary Grant said:


> If you package it correctly, using a good broker, you can dial down deductibles, while significantly ramping up coverage limits, and end up paying about the same as those who buy minimum financial responsibility. It seems almost unfair, but people who make financially responsible choices pay less than those who do the other things.
> 
> There are about 2,800 commercial companies writing property and casualty coverages. Insurance isn't a commodity. Lots of variables, many of which you can control. For example, living in a lower rent and/or higher crime rate 'hood can cost you more for your insurance. Being a slow payer on debts, having a high debt to income ratio, and a low FICO score? Bad driving habits have external costs. You're going to pay more, and you can't blame anyone else for this. But you CAN fix it, by simply making better choices.


Okay, but you can get even lower rates if you make all those "good choices" AND get a higher deductible. That's just common sense math.



BigJohn said:


> Let me explain this one last time for you. It is not Uber's insurance that is causing an impact to your personal auto insurance policy. It is YOU causing an impact to your personal auto insurance policy. YOU made a voluntary decision to do something that was expressly in violation of the terms of YOUR insurance policy. That is not on Uber, or their insurance provider.
> 
> MOST personal auto insurance policies EXPRESSLY PROHIBIT ANY COMMMERCIAL USE of the covered vehicle.
> 
> ...


Thanks ever so much for all the pedantic lectures, but I continue to maintain that:

-Uber should design their insurance so that it completely replaces your personal insurance while you are driving with the app on, and it is not unreasonable to expect this;

-If they did this, there would be no actuarial reason for one's personal insurer to prohibit rideshare driving, since that driving would have no impact on the insurer's risk.



njn said:


> No, all miles driven during stage 1 are tax deductible.


Yes, and I was taking full advantage of that when I was still Uber driving-in particular, by using the "rides toward destination" setting when I was just driving across town to run an errand, since it never actually pinged me on that setting but it counted technically as stage 1, tax-deductible mileage. However, what I was saying is that since the insurance coverage provided by Uber for stage 1 turns out to be so paltry, I would be willing to stop driving at all in stage 1 if I could keep my old insurer and their low premiums. (Please, no one "inform" me that this is not possible-I know that. Just saying a hypothetical.)

BTW, before signing the paperwork for State Farm, I called my Costco insurer to ask if they could put a ridesharing rider on my policy. The answer was an emphatic NO, and they got suspicious about whether I was already Ubering. So I'm heading over to the State Farm agent's office shortly to sign up.


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## BigJohn (Jan 27, 2016)

SlackerInc said:


> -Uber should design their insurance so that it completely replaces your personal insurance while you are driving with the app on, and it is not unreasonable to expect this;
> 
> -If they did this, there would be no actuarial reason for one's personal insurer to prohibit rideshare driving, since that driving would have no impact on the insurer's risk.


You just don't get it do you. Uber nor anyone else can dictate what a personal auto insurance policy has in their terms and conditions.

That is the way ALL insurance policies work. THE UNDERWRITER dictates the terms and conditions and you either accept or reject.

Period. End of story.


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## observer (Dec 11, 2014)

O


SlackerInc said:


> That sucks.
> 
> There is so much that is crappy and very low paying (if you honestly account for expenses including maintenance and depreciation) about this "job", but I am otherwise unemployable and my family really needs the money, pittance though it is.


I know you aren't asking for work advice but you should look in to cutting lawns.

Cutting lawns doesn't seem like it would be a good paying job but the pay is actually pretty decent and requires very little experience.

It takes time to build up a route but once established you should be able to make 30-40 bux an hour by yourself.


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## SlackerInc (Aug 22, 2018)

BigJohn said:


> You just don't get it do you. Uber nor anyone else can dictate what a personal auto insurance policy has in their terms and conditions.
> 
> That is the way ALL insurance policies work. THE UNDERWRITER dictates the terms and conditions and you either accept or reject.
> 
> Period. End of story.


No, this is incorrect. There are all kinds of limitations on insurance: civil rights rules (an actuary may report that black people make more claims than white people, but the underwriter is not allowed to incorporate this into differential pricing for policies), Obamacare rules for health insurance, state insurance commission rules. What I'm saying is that I'd like to see states or preferably the federal government add a rule along the lines of what I proposed. The disclaimer that got me started on looking into this hints that this may have already begun to happen in some localities.



observer said:


> O
> 
> I know you aren't asking for work advice but you should look in to cutting lawns.
> 
> ...


I can believe it, because I own a rental property in Missouri where we used to live, and I was horrified by how much I had to pay people to cut the lawn now that I can no longer do it. OTOH we now live in northern Minnesota, so there is no mowing going on for most of the year. Snowblowing might be an option, but that takes much less time since it's only done on walkways and not the whole yard, so I don't know if that's an efficient way to make money or not.

Thanks for the suggestion though!

I do have to admit that one other thing about Uber driving is that, as a self-admitted slacker, it's one of the only jobs I've ever had (or "jobs") that I don't hate! I actually kind of like it most of the time.


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## peteyvavs (Nov 18, 2015)

I carry 50/100, 000 full coverage policy, I also have rideshare coverage for the same amount, my total premium per month is 209.00 and I live in a very high premium rate here in Tampa. If you're a vet with an honorable discharge then I would suggest you go with USAA, they offer the best coverage for the price.


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## SlackerInc (Aug 22, 2018)

I’m not a vet, but I hope that tip helps someone!


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## BigJohn (Jan 27, 2016)

SlackerInc said:


> No, this is incorrect. There are all kinds of limitations on insurance: civil rights rules (an actuary may report that black people make more claims than white people, but the underwriter is not allowed to incorporate this into differential pricing for policies), Obamacare rules for health insurance, state insurance commission rules. What I'm saying is that I'd like to see states or preferably the federal government add a rule along the lines of what I proposed. The disclaimer that got me started on looking into this hints that this may have already begun to happen in some localities.


Gee if you want to act like a lawyer and add all the disclaimers and what not...

What I stated is 1,000% correct OUTSIDE of and within any direction from local or state or federal insurance regulations what not and so forth.

So yes, for example the Insurance commissioner for California can enable a rule/policy/regulation that underwriters of personal auto insurance policies must sell/offer/provide a rider for rideshare (and delivery) service in which case then every personal auto insurance policy written in California would then have that available, instead as today it is that those insurance underwriters decide whether or not to sell/offer/provide such.

BUT AGAIN, that is in no way anything the Uber or it's insurance provider can dictate.


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## SlackerInc (Aug 22, 2018)

But Uber could provide more robust coverage in Stage 1, in which case there wouldn’t be any reason for insurance providers to balk.


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## BigJohn (Jan 27, 2016)

SlackerInc said:


> But Uber could provide more robust coverage in Stage 1, in which case there wouldn't be any reason for insurance providers to balk.


*<SIGH>*

IF Uber insurance provided platinum plated $1M insurance coverage to you during stage 1 IT WOULD STILL BE A VIOLATION of your personal auto insurance policy that specifically excludes any/all commercial activity unless that policy had a specific rider (such as a rideshare rider) allowing such activity. Said personal auto insurance policy would then be subject to cancellation for violation of the terms and conditions of said policy including possibly retroactive to a date when it can be proven that such activity was taking place.


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## SlackerInc (Aug 22, 2018)

BigJohn said:


> *<SIGH>*
> 
> IF Uber insurance provided platinum plated $1M insurance coverage to you during stage 1 IT WOULD STILL BE A VIOLATION of your personal auto insurance policy that specifically excludes any/all commercial activity unless that policy had a specific rider (such as a rideshare rider) allowing such activity. Said personal auto insurance policy would then be subject to cancellation for violation of the terms and conditions of said policy including possibly retroactive to a date when it can be proven that such activity was taking place.


<SIGH>

Insurance regulators would likely frown upon any exclusion they could not show has some actual, real impact on their business. Furthermore, what reason would any insurer have for this exclusion if that were the case?

For an analogy, if your landlord puts something in your lease saying you can't run a retail business (selling burritos, say) out of your apartment, a judge would find it reasonable for you to be held in violation of the lease if you were in fact found to have a large number of customers getting buzzed in late into the night and wearing out the carpets with a steady stream of burrito orders.

But if the lease had some kind of language in it stating that you couldn't sell burritos, period, or be subject to eviction? The judge would look very skeptically at this, if the landlord were trying to evict you because you left your apartment complex every day and went to work at your licensed food truck (not parked on the apartment premises) selling burritos at construction sites or outside bars. It just doesn't affect the landlord or his property.

Similarly, if Uber had robust insurance that covered everything while the app is on, what possible basis could the insurance company have for either prohibiting this or even requiring a rider? A rider needs to have some function to cover additional liability beyond the basic policy. In the scenario I'm describing, there is no such additional liability incurred by the Uber driver.

Edited to add: In fact, an Uber driver who drove a lot of hours with the app on would presumably reduce their personal insurance company's exposure, because there would be fewer hours in the day when the car could be driven under the insurer's coverage.


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## BigJohn (Jan 27, 2016)

SlackerInc said:


> Insurance regulators...
> 
> For an analogy...
> 
> ...


Once again, you are not getting it. You keep looking at it from a regulatory stand point. That is all find and dandy if a regulatory body was willing to step in and make a change. That is future.

BUT that is NOT what this entire thread is about, is it? It is about current circumstances and situations.

Yes, 1,000% true what your edited added sentence is. BUT ONLY IF AND WHEN the existing personal auto insurance underwriter allowed/added/edited the personal auto insurance policy to state such that activity such as Uber and delivery service was simply excluded but NOT in violation of the terms and conditions. THAT though may take a regulatory approval to get done.


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## Uber Dog (Aug 17, 2018)

uber sucks

driver hit my car while rider was exiting

uber insurance sucks

huge deductible

no rental car

no lost wages

run away as fast as you can

walmart pays 500% higher than uber


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## BigJohn (Jan 27, 2016)

Uber Dog said:


> uber sucks
> 
> driver hit my car while rider was exiting
> 
> ...


a) Walmart is an employer and if you work there you are an employee. If you do Uber driving, you are a independent contractor. Independent contractors do not get benefits.

b) If some one else caused an accident, they are fully responsible for any damages. Any deductible you might otherwise have to pay per your or Uber insurance is the liability of the at fault party.


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## Ceylo (Sep 24, 2018)

backcountryrez said:


> Having collision is normally a requirement for the lender if they have an interest in the vehicle. Reason being is that if you hit someone and don't have coverage, the injured party can legally come after the owner of the car (in this case, the lender) for any monies due.
> 
> If you're a careful driver (or have $1-1.5k readily available), having a high deductible can reduce the costs of carrying this coverage.


I got a vehicle on October when I got out from the dealer they just added a full coverage but when I went to my broker to the tlc they never told me I must have a full coverage insurance. The dealer I told him I was doing uber he never told me this. I got into 2 accidents and one reaulted in damages in my car. Beside that I am since then with injuries that are going to cause me multiple surgeries. I feel used and abused.


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## njn (Jan 23, 2016)

Drivers with car leases or loans are defrauding their banks if they do not have a rideshare endorsement that covers collision in period 1.


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## BigJohn (Jan 27, 2016)

Ceylo said:


> I feel used and abused.


Why, because you did not fully read and understand the insurance contract you signed?



njn said:


> Drivers with car leases or loans are defrauding their banks if they do not have a rideshare endorsement that covers collision in period 1.


A rideshare rider onto a personal auto insurance policy does not ADD any insurance coverage. It is solely for ALLOWING rideshare usage of the covered vehicle to take place.

And while that is a good point about defrauding the bank, the fraud only happens if an accident occurs and the bank looses money as a result of that accident attributed to the lack of a proper rideshare rider or commercial policy.


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## NOXDriver (Aug 12, 2018)

backcountryrez said:


> Having collision is normally a requirement for the lender if they have an interest in the vehicle. Reason being is that if you hit someone and don't have coverage, the injured party can legally come after the owner of the car (in this case, the lender) for any monies due.
> 
> If you're a careful driver (or have $1-1.5k readily available), having a high deductible can reduce the costs of carrying this coverage.


LOL you have no idea what you are talking about.

COLLISION coverage covers the REPAIRS to your vehicle after an accident. Has NOTHING to do with getting sued. That's LIABILITY. Comprehensive coverage is for things like cracked windows, trees falling on your car, etc.


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## Las Vegas Dude (Sep 3, 2018)

Fozzie said:


> Good god man, who is your insurance company, and what kind of car do you drive? Full coverage isn't that expensive, especially if you have a clean driving record. On my rideshare vehicles (2016 Altima and 2017 Sentra) I have full coverage, comprehensive, and rideshare with a $500 deductible and my premium is barely $150 /mo. (USAA)


Insurance goes by market, your 150 a month is 250 a month in Las Vegas. 2 cars here with 2 drivers over 50 with good driving records 250 a month full coverage with rideshare on 1 with State Farm.


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## uberdriverfornow (Jan 10, 2016)

Basically all auto loans require atleast collision insurance. Comprehensive is sometimes required too.


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## BCS DRIVER (Oct 25, 2018)

https://www.statefarm.com/simple-in...the-ins-and-outs-of-rideshare-driver-coverage

c/p: If the app is on, and you are waiting for a match, there's generally a small amount of liability coverage provided. (By ride share company)

c/p: If the app is on and you're available for hire, coverage extends from your personal auto policy and may include liability coverage for property damage and injury to others, physical damage coverage for damage to your car, and emergency roadside service.

Uber Insurance c/p: 
While you're online with Uber and before you accept a request, you are covered for your liability to a *third party* if you are in an accident when you're *at fault*. *A third party is someone other than yourself.* Coverage includes your liability to pay another person's medical bills or to pay for property damage (like a damaged fence). 
Coverage Limits vary by state, but are at least:

$50,000 per person/$100,000 per accident for bodily injury
$25,000 per accident for property damage

In a nutshell: Period 1 - Uber pays nothing for damages to your vehicle if you are at fault. Ride share endorsement allows your personal policy, assuming your personal policy has collision coverage, to pay for your car's damages. Plus you have no worries your personal policy will be canceled.

Note: Liability coverage. Texas minimum is $25K property damage and $30K per person injury with a $60K cap. Thinking about worst case scenario (at fault multiple vehicle accident with injuries) can anyone really think this is enough? With the high cost of vehicles and medical care costs? I carry $100K/$300K myself.


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## Codyboy1 (May 21, 2018)

The bank wants their investment protected.


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## peteyvavs (Nov 18, 2015)

If you don’t like how auto insurance insurance treats you then ride a bicycle. Your arguments are pointless, just get rideshare insurance and drive, otherwise don’t do rideshare, stop whining, it makes you sound ill informed.


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## Gandler (Jan 27, 2019)

SlackerInc said:


> Is that going to be prohibitively expensive given that I just drive a few hours a week (mainly late nights on weekends and when there is a concert or football game)?
> 
> I can't believe I drove for several weeks without even considering any of this.


This is normal for basically all lenders, for any vehicle, whether you uber or not is not relevant for collision.


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