Nationwide plans to introduce new insurance coverage geared toward people who have a side hustle working for a ride-sharing service like Uber or Lyft, according to a report from the Columbus Dispatch.
Drivers can get coverage for exactly the time they spend working for ride-sharing companies, whether it is a few minutes or a few hours, thanks to a new partnership between insurance-technology company Slice Labs and Nationwide.
The insurance company says it plans to roll out the new coverage this fall.
“This is a flexible and comprehensive insurance program with the driver in mind,” said Teresa Scharn, associate vice president of product development for Nationwide.
Coverage costs will work out to be cents on the mile, depending on which coverage a driver decides to get.
Usually, auto policies don't cover drivers who are carrying passengers for a fee. This new coverage option will differ in that it can be bought to cover specific periods of time.
The Slice Labs app will allow drivers to activate the app when they are working and will allow them to turn it off when they are done, Scharn told The Columbus Dispatch.