MetLife Auto & Home and Lyft, one of the nation’s leading ridesharing companies, announced that Lyft drivers in California—one of the largest ridesharing states—now have access to a unique auto insurance policy tailored specifically for Lyft drivers.
The policy was first made available to Lyft drivers in Colorado, and expanded to Illinois, Texas and Washington earlier this year.
The policy, offered by MetLife Auto & Home, contains an endorsement unique to the auto insurance marketplace in that it offers coverage for rideshare drivers at every stage of the trip: while the driver is logged into the app and waiting for a passenger request, is en route to pick up a passenger, and during the trip with the passenger.
Premiums applicable to the policy endorsement will vary based on the mileage driven in the Lyft program.
"Even as the use of rideshare apps continues to expand across the U.S., questions remain for individuals who may want to supplement their income by driving for a transportation network company," said Jean Vernor, senior vice president, MetLife Direct.
The MetLife Auto & Home companies, subsidiaries of MetLife, (MET), are collectively one of the nation’s leading personal lines property and casualty insurance providers, insuring over 3.8 million autos and homes.
Their affiliate, MetLife, Inc., is a leading global provider of insurance, annuities and employee benefit programs. MetLife holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.
Lyft is a mobile app that seamlessly connects passengers in need of a ride with nearby drivers. Simply download the app for iPhone or Android, then request a ride with the tap of a button. A friendly driver will pick you up at your location within minutes.
All payment is handled through the app using your saved credit card. Safety is a top priority for Lyft, and we’ve implemented strict safety criteria to protect the community. Lyft launched in June 2012 and is now in more than 65 cities across the country.