About a year ago, I was speaking with a friend who had started driving for UberX. I asked my friend whether his automobile insurer was aware of his ridesharing activity. I pointed out to him that the standard automobile insurance policy in Ontario excludes taxis and drivers with paid passengers. Following our conversation, my friend contacted his personal insurer to inquire about coverage for ridesharing activity. He asked his insurer whether his insurance costs would rise if he was ‘hypothetically’ driving for UberX. He was told that his rates would not increase because his policy would be voided immediately!
Up until recently, the entire Uber universe in Ontario (its various products include UberX, UberXL, Uber Select, UberHop and UberPool) has operated largely unregulated. However, recent developments, will offer some assurance to Uber drivers, passengers and the public when it comes to insurance coverage in Ontario.
On July 7, 2016, the Financial Services Commission of Ontario approved an automobile insurance policy through Intact Insurance Company that covers all Uber drivers, passengers and vehicle owners. The policy provides standard accident benefits and third party insurance coverage from the moment the Uber application is turned on by the driver.
View full article in PDF format: Your Uber Ride Is Now Covered By Insurance