Ride-hailing services such as Uber, Lyft, and Sidecar are becoming more and more common on the streets today. It is such an easy and smart way to get around especially when you need to get to a busy city center with no parking, or if you’ve had one too many drinks to drive safely for the night. Something that may not cross your mind while hailing a ride is that every driver needs to be insured. Ride sharing companies are required to insure their drivers during what they refer to as “period two” and “period three”. Period two is when they are on their way to pick up a passenger, and period three is when they have a passenger in their vehicle. But what about “period one,” when the driver is waiting for a job? It can be a scary and vulnerable time for the driver since they are practically a sitting duck in that moment.

Well now Farmers has a solution! We can offer affordable coverage for drivers who work for rideshare companies. Insurance Commissioner Dave Jones said, *”I’m pleased to see Farmers, one of California’s major insurers, offers a product that closes the coverage gap.” Closing the insurance gap is important to Farmers in making sure passengers, other drivers, and pedestrians are all protected when ride-hailing cars are on the road.  This new Farmers insurance product begins May 28, 2015 and will only be available through our Farmers Specialty Auto Insurance Policy: Bristol West.

Here at Russ Holcomb Farmers Insurance, we would love to help you get squared away in making sure you are covered throughout all periods in your life!

*cited from California Department of Insurance