Major insurers are jumping into the pool to provide new auto insurance coverage options to California drivers working for ride-hailing companies such as Uber and Lyft, The Sacramento Bee reported.
This week, California Insurance Commissioner Dave Jones approved Bloomington, Ill.-based State Farm and San Antonio, Texas-based USAA to begin offering coverage for policyholders using their personal cars to provide rides through transportation network companies (TNCs).
USAA’s statewide coverage is available now. State Farm will offer its “Transportation Network Company Driver Coverage” endorsement in California starting March 21. The insurers said that their products help fill insurance gaps for policyholders driving for Lyft and Uber, both of which are headquartered in San Francisco.
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