Â鶹ԭ´´

Allstate has launched a “Ride for Hire” endorsement for qualified transportation network company drivers that will be available in four states – Colorado, Illinois, Texas, and Virginia – by the end of this year.

The Allstate Ride for Hire endorsement is designed for customers who use their personal vehicles to drive for qualifying TNCs. Allstate expects that, on average, an Allstate customer will pay roughly $15-$20 each year for the added protection.

According to the company, the Allstate Ride for Hire endorsement helps fill some of the gaps in coverage between Allstate’s personal auto policy and the TNC’s commercial coverage. Some TNCs may provide their drivers liability coverage when they are logged into the app but haven’t been assigned a ride. Allstate’s endorsement addresses the gap that arises when a customer’s personal auto policy liability coverage limits are greater than what’s provided by the TNC. During this period, the endorsement can also help fill gaps that might arise under certain other coverages, such as collision, comprehensive, and uninsured/underinsured motorist.

The endorsement will also address if the deductible associated with collision/comprehensive coverages provided by the TNC when drivers have a ride assigned to them or have a TNC passenger in the car is higher than what many customers carry on their personal auto policies (the TNC deductible generally starts at $1,000). Allstate’s Ride for Hire endorsement can address higher deductible costs if the TNC coverage deductible is higher than the driver’s personal auto policy deductible.

Allstate Ride for Hire is expected to be offered in additional major TNC markets in 2016.

Topics Auto Personal Auto