WHAT TYPE OF COVER DO UBER DRIVERS NEED IN THE UK?

Uber requires their drivers to have a car insurance policy in the UK. The company provides supplemental coverage to drivers when their uber app is “ON.” When you turn “off” the app, you are covered by your own personal auto insurance.

Most drivers believe that the company’s policies, rules, terms, and conditions are inflexible and harsh. Uber started its business operations in the UK in 2012. Since then, the company has been providing opportunities to thousands of people in the UK to earn a decent living.

According to Uber, UK drivers must obtain private hire car insurance to cover for hire and reward. In today’s article, we will discuss the type of insurance coverage that Uber drivers need in the UK. Read on!

Types of Covers for Uber Drivers in the UK

Research shows that UK taxi insurance focuses on traditional coverage options. All drivers require taxi insurance if they want to carry passengers for hire and reward. It is crucial to maintain your car in good condition and obtain a legal license. Public hire and private hire insurance are two types of taxi insurance in the UK.

Public hire insurance is essential for drivers that pick passengers up without a prior booking. On the other hand, drivers require private hire insurance if they intend to pick passengers up based on pre-booked fares.

Uber drivers in the UK have three traditional insurance coverage options: comprehensive, third-party only, and third-party fire and theft. Let us talk about them in detail. Continue reading!

Comprehensive Coverage

Comprehensive insurance covers your car for damage, even if you at-fault driver. Your insurance company will cover you when you are a victim of fire, vandalism, or theft. The company will also cover third-party liabilities.

For instance, if you are an at-fault driver after a crash, your insurer will pay the other party’s losses. As an Uber driver, you must continue working by getting back on the road after a car crash. That way, you can maintain a steady flow of income. If you want to protect your daily work as an Uber driver, we recommend choosing comprehensive coverage.

Third-Party, Fire and Theft Coverage

Although Uber provides you with supplemental coverage, it is crucial to have your own insurance policy. As mentioned earlier, when you turn off your Uber app, the company is no longer liable to cover you.

Unlike comprehensive coverage, when you choose the third-party insurance policy, the company will cover you for the cost of damages and repairs to another vehicle. UK insurance companies that offer third-party, fire, and theft coverage also protect their clients from various types of claims.

These include compensation for personal injury and property damage if you have caused the accident. Your insurer will also cover you for fire and theft. For instance, if someone steals your car and the police fail to recover it, the insurance company will help you get back on the road.

Third-Party Only Coverage

Third-party only is a type of insurance an Uber driver requires if he or she causes injury or damage to another person or property. In that case, the insurance company will cover you for injuries sustained by your passengers or property damages.

Final Words

Uber requires drivers in the UK to maintain comprehensive coverage on their car insurance policies. If you have a comprehensive insurance policy, Uber will hold insurance for you and cover you for personal injuries or physical damage to your vehicle up to its actual value, whether you are at fault or not.

ARE THERE ANY INSURANCE DISCOUNTS FOR DRIVERS DURING LOCK-DOWN?

Research shows that UK insurance companies had a 9.8% Net Combined Ratio (NCR) in 2020. The increased profitability is due to the strict Covid-19 lockdowns in the country. UK insurance market recorded a mammoth underwriting profit in 2020 due to a reduction in insurance claims.

Although the costs fell by 12%, NCR for 2020 had a 7.2% improvement compared to 2019’s figures. Covid-19 has a significant impact on people worldwide. It has affected people in terms of health, business, and economy, including the insurance industry. Are there any insurance discounts for drivers during the lockdown? Find out in this post!

Insurance Policies and Discounts in the UK during Covid-19

UK drivers criticize insurance companies for no providing discounts or refunds during the Covid-19 pandemic. The criticism is from drivers who drive fewer miles due to the lockdown. Insurance companies in the US, Canada, and European countries offer general premium discounts and refunds.

The offerings are due to the reduced number of accidents during the lockdown. Experts say that premiums will relatively remain low until strict lockdown policies are lifted. However, the situation is different in the UK.

UK insurance companies are concerned that they would receive many claims once the government lifts the lockdown. Drivers would return to the roads in significant numbers, increasing the number of claims. As a result, insurance companies will face a shortfall for a long time.

Mid-Terms Policy Adjustments

UK drivers continue to ask their insurance companies to decrease the annual mileage figure on their policies. Although this would lead to a partial premium refund, insurance companies say they would charge a mid-term adjustment (MTA) fee, ranging from £25-50.

Direct Line is one of the most popular insurance company in the UK. Recently, the company announced that they would not charge for MTAs. It means their customers can reduce premium rates at no additional fee or cost if they drive fewer miles.

According to the company, those who can drive fewer miles on the roads than the original estimated figure in their policy, they can contact the company for discounts or refunds. However, Direct Line requires its customers to reduce the mileage to 1,000 per year.

Direct Line and other insurance companies in the UK have not quantified the discount size because it depends on the insurance policy and the car. However, a reduction in premium rates is directly proportional to every 1,000 miles taken off the annual mileage. For instance, if you drive 5,000 miles less per year, you will receive five times more discount.

Moreover, Aviva is another famous car insurance company in the UK that has not established a discount policy for its customers during the lockdown. According to Aviva, the company calculates premiums to cover expected costs for one year of the customer’s policy. If someone can’t pay their monthly premiums, he or she should contact the company for further discussion.

Final Words

Car insurance companies in Europe and North America has made substantial efforts to provide discounts to their customers. However, UK companies are reluctant to the change, meaning not many insurers will give discounts or reduce premiums during the lockdown.

WHAT CAN I DO IF I HAVE AN ACCIDENT WITH AN UNINSURED DRIVER?

People in the UK have suffered a lot for many years because car insurance policies are typically costly. According to the Road Traffic Act, UK, all drivers require to have at least third-party insurance coverage.

It is a type of insurance that will cover you for the injury or damage caused to the third- party. UK law states that not having an insurance policy leads to hefty fines, license suspension, and even imprisonment. The law enforcement agencies may also seize your vehicle.

When you are in a car crash with an untraceable or uninsured driver, not only do you suffer from personal injuries and damages, but it is also frustrating to get compensation. A recent report shows that there were over 1.2 million uninsured drivers in the UK. That's the reason road accidents are prevalent in the UK.

Besides, third-party insurance is the minimum requirement for drivers in the UK. It will cover you for the damages or injuries caused to other people or properties if you are an at-fault driver. But what can you do if you have an accident with an uninsured driver? Let's find out in this post! Read on!

What to do if an uninsured driver hits you?

An uninsured driver will do his best to avoid giving you any personal details. It is a daunting task to get any information from an uninsured driver, even if he sticks around. When you are at the accident scene, make sure you take photos on your smartphone, record the driver's description, and ask for witnesses' contact details.

Experts recommend noting down the uninsured car details, such as the make, model, number plate, color, and other information. Besides, call the police and let them know about the untraced or uninsured driver. Make sure you also contact your insurer and give them details on the accident.

Contact the Motor Insurance Bureau (MIB)

If you have received personal injuries or damages to your car, contact the MIB. It is a not- for-profit organization established by insurance companies in the UK to support drivers hit by untraced or uninsured drivers. MIB also covers drivers hit by uninsured drivers in foreign countries.

The organization has an uninsured drivers' agreement, enabling you to claim compensation against the driver who caused the accident. MIB has two agreements: the uninsured drivers' agreement and the untraced drivers' agreement.

The first one allows you to claim compensation against the third-party driver with no insurance policy. The MIB will settle your claim if the uninsured driver is unable to pay you for the damages. On the other hand, the untraced drivers' agreement enables you to claim compensation for their injuries or damages after being hit by an unidentified driver.

How to Make a Claim?

The claim process is pretty straightforward, thanks to the MIB's driver-friendly policies. Go to the official website and download the claim form. Fill the form yourself or seek help from a lawyer. You can submit the form directly or through your solicitor.

Make sure your lawyer has experience in dealing with MIB claims. The purpose is to get the compensation you deserve. Bear in mind that you can claim personal injuries, medical costs for injury treatment, losses caused by injuries, and earnings loss.

Moreover, you can apply for car damages, repairs, and replacement. However, this is possible when you don't have a comprehensive insurance policy. Although MIB has victim- friendly policies, talk to your lawyer before making a claim, especially if you want compensation for property damage.

DO INSURANCE COMPANIES BROWSE YOUR SOCIAL MEDIA?

Research shows that over 3.5 billion people actively use social networking websites daily. Social media users are most active on Facebook and Instagram. About 52% of young people use these sites, while 48% are above the age of 45.

Insurance companies consider a wide range of factors to determine your rate. These are your age, gender, marital status, location, credit score, and claim history. Although social media is not a significant factor in determining the insurance rate, some insurers review people's social media profiles before approving their insurance applications. Read on!

How do Insurance Companies Use Social Media?

Research highlights that most insurers use social media sites like Facebook, Twitter, Instagram, and Pinterest for marketing and advertising purposes. However, some companies use social media to collect information on their customers. Experts recommend that one must not give up their Facebook or Instagram account information to the insurance provider until there is a requirement.

Whenever a person files a claim, and the insurance company doubts it, the staff launches an investigation. Social media sites, such as Facebook and Instagram, provide an opportunity for insurance adjusters to research and gather information on the parties involved in the claim.

Recent reports highlight that some people attempt to commit fraud, but thanks to the data collected from their social media profiles, insurance companies can mitigate them successfully.

Here are a few things insurance companies look for in your social media profiles.

Photos and Videos

Many people take photos and videos when they drive their cars on highways and roads in the UK. According to numerous insurance companies in the UK, uploading your pictures or videos to Facebook and Instagram is inappropriate. If the insurance company spots something like that on your profile, they will consider you a distracted driver and cancel your policy.

Screenshots

Sharing your text conversations screenshots while driving can result in harsh consequences. Your insurance company will deny your claim after an accident and declare you as an at-fault driver if they find suspicious activities.

Geotagging

When you turn "ON" your camera, the geotagging features turn "ON" automatically on your phone. Insurance companies require their clients to avoid uploading photos on their social media profiles with geotags or locations. If the company found such images on your Facebook or Instagram profile, it would be considered negligence on your part, risking your policy and premium rates.

How to Protect Yourself?

There are several ways to protect your social media accounts from insurance companies. Experts recommend keeping an eye on your privacy settings. Make sure your photos and videos are viewable to "Friends only." Avoid setting your privacy to "Public."

WHAT IS INSURTECH RIGHTINDEM ABOUT?

Recent research shows that over 1,300 startups worldwide offer new products and apps, making it easy for people to purchase insurance policies. The UK insurtech industry has seen significant development in recent years, with many startups launching cutting-edge products to facilitate consumers looking to buy insurance.

Rightindem is a popular UK-based company that offers AI-based solutions to people, saving their time, money, and effort while buying insurance policies. In today’s article, we will talk about Insurtech Startup Rightindem. Read on!

What is Insurtech Startup Rightindem?

Insurance claims is a lengthy and daunting process for many customers in the UK. Rightindem is a startup company that continues to make significant efforts to streamline the insurance processes and facilitate customers to smoothen with self-serve claims.

David Stubbs is the founder of Rightindem Company that aims to enable consumers to use state-of-the-art smartphone applications to expedite their insurance claims and validate them quickly and effectively. All this saves time and money for customers.

Benefits of Rightindem

Rightindem is a web-based, self-service platform for insurance claims. The platform benefits both insurers and consumers. For instance, insurance companies use this web- based platform to reduce claim costs and customer churn rates.

Likewise, it is a transparent service for the customers, helping them understand their insurance policies and manage their claims effectively. The company follows a client- oriented approach, allowing consumers to interact with their insurers and process the claims on time. All this lead to reduced claim processing time, improving customer satisfaction.

Transparency and Control

Rightindem gives consumers more control via a transparent system, allowing them to interact with insurers and claim their compensation. The company has tailored policies and products that perfectly suit customers’ needs, enabling them to process their claims simply and quickly.

The web-based platform is easy-to-use and eliminates a significant amount of stress in the claim management process. Moreover, Rightindem has employed state-of-the-art identification and verification technologies, aiming to reduce the risk of frauds.

Guidance on Claims

Rightindem is a software-as-a-service (SaaS) product with a simple-to-use and user-friendly interface that guides consumers through their claim process. It allows consumers to enter accurate details of what happened during and after the accident.

You can capture photos and videos, provide information on the vehicle damages, and record other facts to make a reliable and factual claim. That way, you can get the compensation you deserve for your personal injuries and damages your vehicle has sustained.

Range of Products

Currently, Rightindem offers seven products, from electronic notification of loss to car damage repairs and settlements. The company’s philosophy is to ease the claim process for consumers, allowing them to control the pace and channel of engagement.

That way, it helps eliminate wasted time on in-person visits and over the phone. Besides, insurance companies use these products to maintain control over the customer experience. Companies can customize SaaS software based on their requirements or needs. Some of the best products are eFNOL Motor, eFNOL Marine, and Tracking Claims.

Final Words

Rightindem has transformed the insurance claim procedures. The company makes it easy for insurance customers to develop and manage their claims online instead of in-person visits to the insurance companies to communicate over the phone. The result is a more transparent and smoother claim process.