How ABI is Protecting Hyrecar
Ride-sharing services are taking the world of transportation by storm. Uber and Lyft are constantly relied on both by riders who need to get places efficiently, and by those who are employed by either company. However, many people are not aware that vehicles must meet certain standards in order to provide rides by Uber and Lyft. Due to these specific requirements for cars, many who desire to drive for the ride-sharing service aren’t allowed the opportunity. There was nothing they could do- until Hyrecar.
HyreCar has arrived as the first car-matching service that works hand in hand with Uber and Lyft. The concept is simple: for those who desire to drive but don’t have a car that meets the requirements, HyreCar allows you to rent one and get right to work. Most issues that are preventing certain cars from qualifying for Uber and Lyft are simply problems that are typical of older vehicles. It’s a lot to ask someone to make them purchase an entirely new vehicle just to pass the restrictions test. In turn, fewer people would drive for Uber and Lyft, which hurts both the would-be drivers and the companies themselves.
HyreCar realized the very simple solution to this problem, and the founders were shocked when they found that no one had discovered this niche market yet. HyreCar’s platform is easy to use, while still being thorough. It allows car owners to post their vehicles that are up for rental, and when drivers find one they want, they create a profile. This profile includes information such as driver’s license and social security numbers, and drivers can pay just by entering their credit card information into the platform. HyreCar’s founders believe that their screening process for drivers is even stricter than those of Uber and Lyft, checking things like criminal records, DMV records, and sex-offender databases.
Thanks to HyreCar, everybody involved benefits in some way. Cars that would otherwise be sitting in a garage or not in use somewhere are making their owners money. Those who wish to be drivers are given an easy way to fulfill that desire without buying a whole new car. Uber and Lyft have more drivers for their companies and therefore generate more business. HyreCar benefits by charging drivers that rent from them a 10% fee and car owners a 15% fee.
How ABI is Covering HyreCar
American Business Insurance is providing HyreCar with a unique insurance policy to ensure the highest level of safety for both the drivers and riders. When a driver is not driving for a ride-sharing platform but is still in possession of the rented car, they are covered by ABI’s policy that covers both the riders and drivers. When they are driving for a ride-sharing platform with a rented car, the insurance defaults to the state-mandated policy provided by the respective ride-sharing company.
As far as HyreCar is aware, they are the only car-matching service that utilizes a unique insurance policy such as the one provided by American Business Insurance. Thanks to ABI, HyreCar now has a competitive advantage that will likely continue to garner success for the company.