Ride-sharing Insurance Solution
Posted on 29 April, 2016
Drivers don’t despair! Donnelly Insurance Brokers provide a simple coverage solution for concerned and confused Australian ride-sharing drivers.
Revolutionised globally by Uber, the ride-sharing industry in Australia is a topic of continuing controversy, and at constant loggerheads with the Taxi industry. Almost every State and Territory is currently involved in one or more complicated legal battles with the $60billion dollar Uber enterprise; debating safety, legality and economical implications of this rapidly growing industry, with opinion and legislation remaining generally divided around the country.
Whilst some States have legalised and others outlawed varying ride-sharing services, the one undeniable fact is that the sharing economy concept is is growing fast, and undoubtedly here to stay…
In the two years since Uber entered the Australian market, it employs over 20,000 drivers, putting it in the top 20 national employers. And now with “GoCatch” emerging to battle Uber for a slice of the $5.4billion taxi industry pie, (with heavyweight backers including Packer and Prime Minister’s son Alex Turnbull) we can only expect ride-sharing numbers to increase!
Insurance Industry Complications
As the relatively new ride-sharing industry enjoys unprecedented growth, and more and more Australians take advantage of the employment opportunities presented, many related industries such as Car Insurance struggle to adapt in response to the changing landscape.
Comprehensive Car insurance policies typically don’t cover a vehicle for loss or damage when it is used “to carry passengers for payment other than private car-pooling arrangements” as this can expose the insurer to additional risk.
Many insurance companies are still grappling with this complicated issue of ride-sharing activities without underwriting data to assess what extra risk is involved and legal issues leaving concerned drivers potentially uninsured for damage to their vehicle – but thankfully there is now a solution for part-time drivers for Australian drivers ….
Donnelly’s Simple Ride-Sharing Insurance Solution
The good news is that Donnelly Insurance Brokers can arrange cover for clients involved in ride-sharing if the vehicle is used less than 20 hours per week for this purpose!
Refer to Donnelly’s website of their recommended market leading Comprehensive Car insurance policy details: http://www.donnellys.com.au/service/car-caravan-trailer-insurance/
Does this concern you, or someone you know? Feel free to contact Donnelly Insurance Brokers on (08) 8236 7777 for further information and enquiries on the hot-topic of ride-sharing insurance.
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