Beginning in mid-May 2015, USAA members driving for transportation network companies in Texas will have the option to extend their personal auto insurance policy to provide coverage from the moment they log in to a ridesharing mobile app until they are matched with a passenger.
USAA first offered this product as part of a pilot program it introduced in Colorado.
“Interest in this product has increased, especially among our military spouse and veteran members who have been driving for these services,” said Alan Krapf, the president of USAA property and casualty insurance group. “It's important for us to financially protect our members when they need it, and we're pleased to extend the pilot to Texas, which will help us further evaluate the benefits of this coverage.”
USAA said that this product will protect USAA ridesharing drivers in Texas when they have not yet been matched with a fare. The insurer noted that transportation network companies often offer commercial insurance that covers drivers and their passengers once they have been matched by the app, but some only offer minimal liability insurance coverage while unmatched. USAA said that its product will extend a member's current coverage and deductibles for an average cost of approximately $6 to $8 more per month, or roughly $40 to $50 more for a six month insurance policy.
Learn more: www.usaa.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].