The new insurance requirements for TNC drivers working for Uber that went into effect July 1, 2015 are the beginning of regulation of the TNC Industry. I think we should embrace regulation and commit to study the effectiveness of the specific needs addressed.
To do this would require that every TNC driver required to have the additional insurance, purchase the insurance. Any driver not meeting the insurance requirement need to be blocked from use of the Uber application until such time as they can prove compliance with the requirement. Plain and simple buy it or quit driving. And, Law Enforcement needs to check drivers to ensure this requirement met.
Why am I so eager to jump to compliance and throw the others under the bus? Simple! Uber is not paying for this. Uber should be paying for this, but isn’t. So why should anyone willing to pay out their hard earned money to meet this requirement be subjected to a market flooded with drivers making it hard for him to earn a return on his investment. I am finding it real hard to invest a single penny into anything Uber related while Uber continues to find ways to reduce driver earnings to below poverty level. The last thing I want to do is pay an additional $750.00 for six months of this insurance while 10,000 uninsured drivers compete with me for riders.
I figure if a driver is going to put up his money, he gets the rides. If this runs Uber short of drivers,”tough shit” at least the drivers in compliance will have half a chance to earn a good days earnings. Uber also needs to release the Rider Safety fees collected by compliant drivers to the drivers to supplement driver costs.
As for the insurance choices offered. NONE of the offered choices meet the need intended. Unless the driver specifically adds the additional options to the policy selected, the coverage does not protect the driver’s interest as it should. It is evident that the insurance industry and Uber shared bedding on this because they prepared policies that specifically preclude coverage to protect the driver and their car. Even Farmer’s Insurance which is known to be one of the best in the insurance business fails to provide a truly protective policy for the driver.
This is the ridiculous part, “commercial coverage” is only a little more costly and provides the necessary coverage. No need for Uber’s bullshit insurance. No need for special regulation or special policy. If the government required commercial insurance tomorrow, I would ask the driver associations to barter with the Insurance Providers for a group rate for all of the TNC drivers. A half a million new insurance customers has to be worth some form of discount, don’t they?
Uber isn’t going to compensate the drivers for this expense. Uber is not going to raise rates to allow drivers additional income to pay for this expense. If you are a driver that pays for this expense, then there must be some benefit derived from your investment. non-compliant drivers need to be blocked from use of the Uber application and Uber needs to be held liable for any drivers on the app not in compliance. BRING ON THE REGULATION!