Mercury Insurance to Offer Ride-hailing Drivers Gap Protection Auto Insurance Coverage in California

LOS ANGELES, Calif. (Jan. 27, 2016) – Today, Mercury Insurance announced that it will offer an optional endorsement to its California customers driving for Transportation Network Companies (TNCs), like Uber, Lyft and others. This new coverage, ride-hailing insurance, will protect them during the gap that exists between the time they turn on a ride-hailing app and accepting a customer.

TNCs, like Uber and Lyft, connect private vehicle drivers with passengers needing transportation.

“Consumers have embraced services like Uber and Lyft as a convenient way to make money or travel,” said Jim Reeves, Mercury’s product research and development group manager. “However, many people – drivers and passengers alike – don’t know that they may not be covered if they get into an accident, because there is a gap between personal auto insurance coverage and the coverage provided by TNCs.

“Mercury’s new ride-hailing insurance bridges that gap to provide coverage for our customers and protect them if they get into an accident. It’s an opportunity to help shape the landscape of auto insurance in this modern era of travel, as well as to ensure sufficient coverage is made available to protect drivers and others on the road.”

Mercury’s ride-hailing insurance coverage will be active from the time TNC drivers turn on their app of choice until they are matched with a fare. The option will extend coverages purchased from Mercury on an excess basis to any coverages provided by the TNC’s commercial policy if applicable, and on a primary basis for coverages purchased from Mercury but not provided by the commercial policy.  The TNC’s commercial insurance policy provides increased protection once a fare is assigned and until the passenger exits the vehicle.

“Mercury has always been an industry innovator, so we’re proud to be one of the first companies to offer this coverage as we continue to look for ways to protect our customers,” said Reeves. “Our initial rollout for this coverage is in California, but we plan to roll versions of it out in 12 more states in the near future.”

Visit www.mercuryinsurance.com to learn more about its products and services.

ABOUT MERCURY INSURANCE
Mercury Insurance (MCY) is a multiple-line insurance organization predominantly offering personal automobile, homeowners and commercial insurance through a network of independent agents in Arizona, California, Florida, Georgia, Illinois, Michigan, Nevada, New Jersey, New York, Oklahoma, Pennsylvania, Texas and Virginia. Since 1962, Mercury has specialized in offering quality insurance at affordable prices. For more information visit www.mercuryinsurance.com or Facebook.com/MercuryInsurance and follow the company on Twitter.

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