Uber services has been gaining popularity world- wide and has gained a huge amount of growth in Toronto itself. In the starting days, Uber use to hire drivers with their personal cabs and other vehicles and used to put them for commercial use. Even now they do the same but then as per the laws they have added a new feature called Uberx insurance for the drivers and the vehicles.
Initially he drivers working for the Uber cab hailing services had to have their personal car insurance for getting the insurance claimed at the time of an accidental damage. But this policy was not able to be put to claim when the car or the vehicle was used for commercial purpose according to the terms and condition. Later Uber insurance Toronto started the Uberx insurance that provided insurance to the car and the driver while on duty. Anyhow, even this Uber insurance Toronto has its own terms and conditions along with several clauses and variation of insurance amount.
According to the Uber insurance Toronto, a vehicle registered under Uber cab hailing services is not liable to claim and insurance amount off the duty hours. The Uber Company is only liable to pay for the damage caused during the duty hours that too under various chosen situation. It would be liable to pay when the driver is hired by a passenger and is on the passenger fare.
For example- if a Uber cab driver has taken a personal car insurance and is also covered by the Uber insurance Toronto then the Uber insurance protect him when he is actually driving during the duty hours. As soon as the driver drops a passenger to the decided destination the car gets under personal insurance policy. It means that when a passenger books an Uber vehicle, the driver and the vehicle gets covered under Uber insurance Toronto and the rest of the time it is under personal insurance.
Uber insurance Toronto any how does not pay the entire amount that I required to fix the damage. It only pays a part of it and the bodily damage or the damage caused to the driver goes under personal insurance claims. These insurance policies are a bit confusing to understand and hence one must under- go proper search before getting in to a decision of insuring the vehicle. One can consult with the insurance agents online as well as offline and know the details of the various terms and conditions.
One must consult with commercial insurance agents and personal insurance agents in order to know about the various pros and cons of the insurance policies and then chose the one that suits the best. Also looking at the installment amount is a big deal as it should not run out of the savings one has. All these basics would help one in deciding the insurance policy that would fit the best and provide most of the coverage in case of accidents and damage to the vehicle as well as the driver.