If what got approved in Alberta gets approved here, you have nothing to worry about, nothing changes at all. Everyone can drive anytime they want. Just your car has to be 2009+ simple.
There will be no cost for you as a driver for the insurance, but you will have to switch your company to bel air direct or intact.
Just got a quote from belair. Including ridesharing endorsement with Aviva, I am currently paying $225/month. Easy decision coming up.
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So basically we need to move our insurance to Blair or intact or viva and uber will take care of the rideshare insurance?? If that's true that's good news for me . But my question is do we have a full time insurance available or only 20 hours.?
You have to move to Intact or its subsidiary Belair probably. I don't think there will be a 20 hours limit with Intact. You can also pay for ridesharing insurance with Aviva. The max is 20 hours.
Usually, short tame cancellation penalty is around 5-10%. More you cancel at the begining, more will be your penalty or tell them you are doing Uber like I did. They accepted to cancel with no penalty the same day.
Remember Alberta only covers one million liability on driver and two on third parties, Ontario is asking for two million for driver and five on third party. It remains to be seen who is paying this extra insurance, uber or you. Your insurance may be very different than Alberta but I suspect Uber will pay the Five million and driver will pay for his portion himself.
Whats the difference between what Uber's supposed $5 million policy is now compared to what they're getting with Intact? Drivers still need to go through their own insurance company first and if denied coverage then Intact will get involved. I dont think the regulators will allow us to drive without letting our insurance companies know about our ubering and we'll need to show proof that we have the rideshare endorsement on our personal policies. Am I right or wrong?
I believe you are right. The drivers must have their own personal insurance which covers rideshare and not rely on Uber's insurance in which we don't even have a copy of their policy.
I doubt they were sitting on it. They were probably in negotiations with Intact regarding price.
This was BIG news for Intact insurance, and I'm sure they wanted to get the information out there ASAP. So as soon as the deal was done they could go to the media and start to advertise their position as a progressive insurer.
Uber has to negotiate for the premium; even it had a approval why uber start paying premium from June 1st, it makes sense , at the day end it's all about money
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