Uber Insurance ontario rates

The answer is a bit tricky. If you’re a rider, you must follow Uber’s rules and have the right coverage. Before telling your insurance providers you’re involved with Uber or ridesharing, your premium rate might not increase much. If you’re thinking about buying insurance from Aviva, remember that Aviva has now made its 20-hour weekly driving policy unlimited. This means Uber riders will use their cars more, and the chances of accidents will also increase.

This topic could be long, but to keep it short, let’s create a scenario to understand if your car insurance premium will go up when using Uber or ridesharing.

Building A Senario.

Let’s think about Sam, a teacher. During the summer break, Sam decided to try ride-sharing to earn some extra money. Sam signed up as an Uber driver with his reliable car and a smartphone. This choice made Sam wonder about what this means for his car insurance.

Sam’s personal car insurance won’t cover his ridesharing. So, Sam needs to talk to different insurance companies. In Ontario, only three companies give Uber insurance. Usually, this is free. But, if Sam makes some mistakes on his car insurance policy, like having accidents or getting parking tickets, Sam will need to pay $20 monthly for Uber Insurance.

Now, Sam has Uber insurance in Ontario. This insurance package includes many things. It has liability coverage, uninsured/underinsured motorist coverage, and contingent collision/comprehensive coverage. But it doesn’t always work.

It only works when Sam picks up a passenger and accepts the ride until the passenger gets out of the car. But what about the time between receiving a ride and picking up the passenger? That’s when Sam’s car insurance is used.

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Does Rates increase or not?

Now, you might wonder if the rates will increase after using it. From what we know, the rates don’t usually go up. If they do, it’s because of the rider’s past, like having accidents. So, there’s no need to worry. Some people might tell you that if you tell your insurance provider you’re driving for Uber, the rates will increase. This isn’t true. If you have an accident while driving for Uber and didn’t tell your insurance company that you were driving for Uber, you might have problems with your claim.

So, it’s better to tell your insurance provider before you start driving for Uber. They can explain both personal and commercial policies to you. As for the rates, if they go up a little bit, it’s not a big problem.

Author

Arjun mano

Arjun Mano

Having more than 8 years of experience in writing and reporting about Insurance and Finance. He is working with Onis hub and providing valuable knowledge to our readers. Read full bio.