What you need to know:
When a driver is driving for a TNC (Uber/Lyft) and a ride is in-progress (the driver has pushed the button to accept a ride) our policy is secondary to the TNC’s (Uber/Lyft) policy.
For all other instances, our policy is primary and the driver does not need supplemental insurance.
Our insurance covers $25,000 of vehicle damage and up to $300,000 for liability. There is a $1000 deductible for all damages.
This is a general description of insurance information only and is not meant to change or replace the actual insurance policy. For a complete explanation of the insurance provided, please refer to the actual insurance policy.
1. Automobile Third Party Liability coverage:
- Insurance Coverage is provided up to $300,000 CSL per accident while under a Hyrecar Business “contract” rent/lease agreement.
- The Hyrecar Insurance provides NO Insurance Coverage while a “Transportation Network Company” (TNC) is providing the Insurance Coverage.
- There is NO Hyrecar Insurance Coverage provided unless the Hyrecar business auto rental/lease agreement is in force.
- Hyrecar Insurance Coverage is only provided for the Hyrecar contracted driver while under contract with Hyrecar to rent/lease the vehicle. No other permissive drivers or operators are covered under the Hyrecar Insurance policy.
- Uninsured/Underinsured (UM/UIM) and Personal Injury Protection (no fault PIP) are included only at statutory basic limits and only where required by law. UM/UIM & PIP are excluded in all states where permissible by law.
- An Automobile Owner that is contractually engaged with Hyrecar to rent/lease their vehicle to a “TNC” driver will be reimbursed for any damage to such vehicle while it is on an active Hyrecar agreement. Damages are subject to the actual cash value (ACV) of the vehicle. Damages are limited to not more than the Actual Cash Value or a maximum of $25,000 per claim, whichever is less; subject to a deductible. (See the terms of the Insurance policy for a complete description).
- Normal wear and tear is not covered by any insurance.
I’d like a detailed explanation of insurance and protection provisions
HyreCar provides drivers with insurance to protect owners, renters and third parties. HyreCar’s coverage when ride sharing app is not switched on and/or rider is not in rented car.
Liability Insurance is obtained for each renter who rents a non-livery vehicle on the HyreCar platform. The policy meets the state’s minimum requirements during the rental period. Livery vehicles maintain their own policy through the fleet owner. The liability policy for non-livery follows the vehicle.
Liability insurance is issued in the renter’s name and is included in all rentals. However renters are still responsible for any damages regardless of insurance coverage. Coverage excludes any damage during the delivery period, all pre-existing damage, normal “wear and tear” of the vehicle, aftermarket items, and any personal items left in the car.
The renter is responsible to return the car on time and in essentially the same condition it was in when they first received it. If there is damage to the car at the end of the reservation, unless the renter has notified HyreCar of pre-existing damage by e-mailing pictures and a description to email@example.com at the start of the reservation, or has documented an agreement with the owner regarding pre-existing damage by using our “Pre-Rental Checklist” or similar means, the renter is primarily responsible for all damage. Any physical damage protection that insurance or HyreCar may offer is “secondary” or “supplemental” to renter’s obligations.
All insurance policies include a $1,000 deductible (unless a state minimum requirement is lower). In the case that insurance covers an incident or the incident is less than $1,000, the renter will remain primarily responsible for any shortage in coverage such as deductibles.
Please note, the deductible does not waive the renter’s liability of being primarily responsible for all damages.
For HyreCar’s insurance coverage, if the renter has violated the Terms of Service, engaged in any Prohibited Uses or otherwise intentionally, recklessly, or with wanton disregard, misused the car, the deductible limits described above will not apply and the renter will be liable for all physical damage up to the actual cash value of the car, in addition to all Related Costs. Furthermore, if the renter causes damage to the interior of the vehicle or causes mechanical damage (not normal “wear and tear”), the protections described above does not apply, and the renter will be liable for the full cost of the repairs or replacement, as well as Related Costs.
“Related Costs” may include all costs and fees permitted by law, including but not limited to, estimation or appraisal costs, storage fees, towing fees, repair or replacement costs, registration or transfer taxes, claims processing costs and all similar or associated costs, minus any residual salvage value that is collected. Claims processing costs by HyreCar is $550 per claim and applicable deductible. This is an administrative cost and does not go towards the damages. If a third party accepts total fault for the claim and that third party’s insurer processes it on behalf of the owner without substantial processing by HyreCar, the renter will be refunded the claims processing fee.
HyreCar’s insurance coverage is “supplemental” or “secondary” to any existing coverage the renter may have available through other sources (whether through a credit card, personal automobile, or other policy). In practice, this means that the renter is primarily liable, but can satisfy their obligations through these other sources, such that HyreCar will first collect the relevant deductible directly from the renter to pay towards the repairs or replacement cost.
If you have additional questions regarding selecting among these options, please consult your insurance professional, or contact us at support@HyreCar.com, and we will direct you to a broker.