Ridesharing Insurance for RideCo Drivers

Ridesharing is a great example of the sharing economy in action. It’s a service that matches drivers who use their personal vehicles with passengers who need a ride, quickly and easily through a GPS-based mobile app. Through the app, passengers know the driver’s name, car model, license plate number, and rating. They can also watch their driver’s progress towards the pickup point on their smartphone. Payment is handled automatically via a credit card stored within their account. Drivers have a flexible source of income based on a schedule of their choosing.

RideCo lets you book personalized, express transit service from your smartphone. You simply search and book a ride on the RideCo mobile app, and their technology will do the work to schedule transportation to fulfill your ride booking. What’s unique is that you’ll share that ride with other passengers, therefore making it affordable – near to the cost of driving yourself. RideCo’s technology ensures that your rides will be fast, without ever being too crowded.

Northbridge Insurance is always looking for innovative ways to help protect Canadians and what matters to them, and insuring RideCo is a great way for us to do that. With the sharing economy becoming more popular, the needs of consumers are changing and we’re adapting our solutions to those changing needs.

If you’re a RideCo driver, you can access an electronic certificate of automobile insurance through the RideCo driver-partner app*. If you’re involved in a traffic infraction or an accident while participating in ridesharing, please refer to that certificate.

*Coverage is not provided to taxicab services or licensed limousine or livery services. Such services must obtain appropriate vehicle insurance.

Northbridge Insurance’s coverage is available at no cost to all RideCo drivers in Ontario¹. It provides the following coverage from the time you log in and are available to accept a ride request up to the time your passenger exits the vehicle:

• Third-party liability
  • $1 million limit from the time you log in to RideCo and are available to accept a trip up to the time you accept a trip
  • $2 million limit from the time you accept a trip up to the time your passenger exits the vehicle
• Standard accident benefits
• Comprehensive and collision coverage with a $1,000 driver-paid deductible (applies only if you have comprehensive and collision coverage on your personal auto policy)
• Additional protection from the time you accept a trip up to the time your passenger exits the vehicle:
  • Coverage of up to $1,500 for transportation replacement while your ridesharing vehicle is being repaired due to an insured loss
  • No depreciation deduction on new vehicles (Does not apply to tires, batteries, and betterments. Loss or damage must take place within 30 months from the original delivery date of the vehicle or before the first renewal following that date, whichever is later.)

This coverage is completely separate from and is not a replacement for your personal auto policy. It doesn’t provide any optional coverage other than what’s specified above.

¹ Coverage is not provided to taxicab services or licensed limousine or livery services. Such services must obtain appropriate vehicle insurance.

All RideCo drivers are automatically covered by Northbridge Insurance’s commercial policy without having to contact Northbridge Insurance. However, all drivers must first ensure their personal auto policy allows for their vehicle to be used for ridesharing. Please inform your personal auto insurance broker or agent of your ridesharing activities to ensure you can be covered by Northbridge Insurance’s commercial policy.

In the event of an accident, RideCO drivers should call the Northbridge Insurance claims line at 1.855.621.6262. Experienced, knowledgeable, and efficient claims experts are available to help you 24 hours a day, 7 days a week.

You must ensure that your personal auto policy allows for your vehicle to be used for ridesharing. Claims for accidents that occur during the time you make yourself available to accept a ride request up to the time your passenger exits the vehicle are made against the Northbridge Insurance commercial policy. After an accident, you should reference the electronic certificate of automobile insurance available on the RideCo driver-partner app to ensure RideCo-related claims do not affect your personal auto policy. Driving infractions, on the other hand, may follow the individual, potentially affecting your personal auto policy.

Northbridge Insurance has a privacy policy that details how it collects, uses and discloses personal information. You can find the policy here. You can direct any questions about the Northbridge Insurance privacy policy to its Privacy Officer at the contact address indicated in the privacy policy.