Another story that shows that even if municipalities legalize Uber, the Insurance industry has a long way to go to make driving for Uber economically feasible.....
Wawanesa is flat out asking it's policy holders if they driver for Uber. Say yes, and your policy is cancelled.
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In a renewal questionnaire, Wawanesa Insurance is asking policy-holders if they are using their personal vehicles to drive for Uber or Lyft. (The latter American company does not currently operate in Toronto.)
If someone checks yes, “we would proceed with cancelling that policy following the appropriate regulations pertaining to cancellations,” Wawanesa manager Anne Barton wrote in email.
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The only legal way to drive for Uber is to buy that pricey commercial insurance policy.
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“We’ve updated our terms of service to more accurately reflect our business as it is today — for example, to cover new products like UberRush and UberEats, or the fact that many drivers now own their own phone,” Uber spokeswoman Susie Heath wrote in email.
“In the process we’ve also made them simpler and easier to understand, with much less jargon. There are no significant changes.”
Comerford said the new UberX driver contract makes it crystal clear “that the UberX driver is absolutely on the hook for getting commercial insurance,” policies that can cost in the range of $4,000 to $10,000 annually.
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