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Rideshare: What You Should Know

Published on March 20, 2018   Tips Insurance rideshare

Manitoba now has rideshare companies operating within the province, so this means companies are looking for drivers. If you’re considering becoming a driver for a rideshare company you will need to ensure that your insurance is update so that it will provide coverage for these operations.

Before we look at the insurance, you must meet certain criteria to even be allowed to operate a vehicle for hire:

  • Be registered with a licenced dispatcher
  • Maintain a valid Provincial driver’s licence applicable to the use of the vehicle being driven
  • Have not been convicted within the previous 10 years of a relevant criminal offence unless a record suspension (pardon) has been issued in respect of that offence
  • Have not been convicted within the previous 10 years of a major driving offence
  • Not be registered on the child abuse registry

Each rideshare company may have their own additional requirements for drivers as well, the above list is provided by the city of Winnipeg.

When it comes to insurance MPI has set up their ride-share insurance program to be fairly flexible. You can choose to be “open for business” 24 hours a day or just select certain windows of availability if you are only planning on offering your services during limited times.

They offer the following categories: (you can select one, two, three or all)

  • Weekdays - Monday thru Friday - 10am - 3pm and Sunday thru Thursday - 7pm - 11pm
  • Rush Hour - Monday thru Friday - 7am - 10am and Monday thru Friday - 3pm - 7pm
  • Overnight - Everyday - 11pm - 7am
  • Weekends - Friday 6pm through Sunday 11pm

Each category will add a 5% cost to your basic autopac coverage, if you select them all your total increase will be 20% of your current basic autopac cost. One important thing to note about the rates is the 2018 - 2019 rates for rideshare have been estimated, which means after review of the 2018 insurance year rates my change. This means it could be determined that you owe additional premium or will review a credit for the first year.

Vehicle Information

There are two types of vehicles that qualify under the vehicle for hire coverage:

  • Passenger vehicles (with a maximum seating of 10 people including the driver)
  • Light Trucks (GVW of less than 4,500 kg)

Vehicles coverage under the vehicle for hire coverage qualifies for all of the regular basic coverage:

  • $200,000 third party liability
  • $50,000 maximum insured value
  • $500 deductible

And also qualifies for the following extension coverage:

  • $100, $200 or $300 deductible
  • $1M, $2M, $5M, $7M or $10M third party liability
  • Increased maximum insured value coverage
  • Loss of use coverage (rental vehicle supplied cannot be used for vehicle for hire)
  • New/Leased vehicle protection
  • Layup coverage

As you can see there are plenty of things to consider when trying to decide whether or not to work with a ride-share company. If after reading this information you still have questions please feel free to reach out to any of our locations for more information.

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