USAA has announced that, starting in February, it will pilot a program in Colorado that will provide drivers with the option to purchase ridesharing gap protection insurance coverage from the moment their ridesharing mobile app is turned on until they are matched with a passenger. If the gap protection is not purchased, the USAA policy would not provide coverage for ridesharing activities.
The new program would extend a member's existing auto policy coverages and deductibles and cost about $6 to $8 more per month, the company said.
“USAA will be one of the first to market with this type of coverage,” said Jesse Mata, USAA's product management director. “The practice of actively recruiting veterans into these networks as drivers influenced our decision. This is the right time for USAA to get involved and to provide coverage for its members.”
USAA said that it elected Colorado for its pilot due to legislation passed there in June mandating such coverage by January 15, 2015 and because of the high concentration of USAA members and employees in the state.
“With technology as pervasive as it is today, we're going to see more and more instances of disruptive technologies and disruptive business plans and methods,” Mr. Mata said. “So we have to be able to respond to those for the good of our membership.”
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].