Insurance providers in South Carolina are changing their products to keep up with app-based ride hailing services.
A report from
The Post and Courier said that, among others,
State Farm is filling the gaps left by traditional policies that are not created to cover such services.
The report also noted that three of South Carolina’s largest insurers provide similar coverage, which charge extra to protect from the risks specific to ride hailing services.
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The new policies provide an “extra layer” of coverage for drivers who use their cars to ferry passengers around, State Farm spokesperson Roszell Gadson said in the report. However, these insurers have yet to disclose the amounts they charge for the “endorsements”, the report added.
“The goal of this endorsement is to help fill some of the coverage gap that can arise between a customer’s personal policy and the commercial policy of Uber and Lyft,” added
Allstate spokesperson Adam Polak in the report. “We don’t want them sitting there and worrying and having to be an expert on what Lyft has and what’s on its personal policy.”
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