A Lyft passenger gets into a car in San Francisco. Fed up with taxis, city dwellers are hitching rides from strangers using mobile apps that allow riders and drivers to find each other. (AP Photo/Jeff Chiu)

San Francisco-based ride-sharing company Lyft announced it is giving drivers the option of getting collision insurance to repair damage to their cars, according to The Los Angeles Times.

The company is also offering protection against being hit by an uninsured or underinsured to its basic $1 million commercial-liability coverage, the story says, adding that the changes come after state regulators complained there could be holes in the coverage Lyft and its competitors provide.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.