The UBER transportation debate rages on. The Taxi industry is upset at the intrusion of another option to the public infringing on their turf, or I suppose asphalt. For those unfamiliar with Uber, the company’s mobile phone app connects passengers with drivers who, for a fee, take them to their destination. Uber takes a slice of the action. The Uber business model is proving profitable for the company but disruptive for the taxi industry. A debate revolves around the need for regulation vs reducing consumer prices caused by the artificial monopoly provided to taxi companies. The problem that presents itself to UBER drivers and passengers is whether their insurance will respond if someone is injured or killed in their vehicle. A question on every application for auto insurance asks, Do you use your vehicle to transport persons or property for compensation? If so a public or commercial policy is required. Taxi drivers pay over $5000 annually for their public insurance policies as do buses and other means of public transportation. Do UBER drivers have this policy? If not they are driving without insurance when they carry a fare.
Posted on: Fri, 10 Oct 2014 11:26:07 +0000
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