Assurant Specialty Property, a leading provider of risk management services and a business segment of Assurant, has teamed up with car mobility startup Carma to provide insurance coverage for its carpooling and car-sharing programs in the San Francisco Bay Area.

Carma’s mobile apps are designed to help users find nearby short-term car reservations or commuters to share ride costs with. Insurance coverage includes liability, medical and vehicle damage.

"This is another way to bring our risk-management expertise to an innovative mobility venture," said Brian Tribble, senior vice president, Assurant Specialty Property. "We help Carma provide a simple solution by streamlining the customer experience – users don’t even have to think about insurance."

Carma is different from other ride-sharing companies. With more than 15,000 users, Carma is on a mission to get fewer cars on the road. The company focuses on reducing rush hour traffic by pairing people with similar commute routes, and has a fleet of over 400 fuel efficient vehicles.

Passengers simply reimburse drivers for gas and maintenance through Carma’s commuter app. In addition to cutting the cost of commuting, riders can also cut commute time by using the carpool lane. Under this new partnership with Assurant Specialty Property, the Carma experience is seamless for drivers in that their current car insurance coverage is not affected.

"Bay Area traffic can be gruesome. Our carsharing and commuter apps are both solutions Carma users rely on daily to circumvent traffic and congestion," said Lawrence Mulligan, CEO, Carma. "It was a natural and immediate fit to partner with Assurant to safeguard our tens of thousands of drivers and riders who are helping to shape the future of transportation."