Ride sharing is becoming more and more popular as car owners look for ways to supplement their income.
Typically, they sign up with one of the services and the service acts as the connection point for customers. Some of these services advertise that you can make $35 per hour or even more by taxiing folks around. That may sound good, but does your Automobile insurance policy cover your exposure?
The short answer is that it probably does not. Most personal automobile policies contain exclusions “livery”, which basically means driving for hire. Typical exclusions are say that the policy will not provide any Liability Coverage, Medical Payments or Physical Damage when your car is being used as a public or livery conveyance.
These exclusions usually don’t apply when you are using your car in a share-the-expense car pool.
As always, check with your agent for clarification of any questions that you may have.
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