Del Toro Insurance
Fomentando el camino hacia la industria de los seguros
América TV captó todo lo que fue el fórum y la celebración de los 25 años de Del Toro Insurance. Con Del Toro Insurance tienes todo lo que necesitas para estar bien asegurado y además crecer profesionalmente con tu propia franquicia. Si eres emprendedor y quieres asegurar tu futuro empresarial con una marca consolidada!! Esta es tu oportunidad, completa el formulario y uno de nuestros agentes se estará comunicando contigo con todas las dudas que tengas para emprender tu negocio.
Annual Convention of the FAIA
June, 2024
As part of our participation in the 2024 Convention of the Florida Association of Insurance Agents FAIA held in Orlando, Del Toro Insurance held a seminar to promote the growth of the insurance industry through franchises. Entrepreneurs and business owners participated in the event.
Del Toro Insurance 25th Anniversary
Del Toro is a family business and that has defined much of the path it has traveled to this day. The main reason for starting out in this industry has been to contribute to a community that needs us and with which we feel an eternal commitment. Growth would not have been possible without the support and permanent exchange with our community whom we have tried to serve with immense respect.
On the other hand, we have tried to provide a service that is also deeply rooted in family values because we consider that targeting the well-being of families in a society that is transforming day by day is essential. We have simply delivered transparency, honesty, trust and loyalty, which I believe have really been the key to being able to treasure the preference of our clients over the years.
Time really passes very quickly. We began our journey in a small office located in the west of the county. Today we are a solid company with a commercial presence throughout the state of Florida and an increasingly large group of franchisees who have opted to be part of the Del Toro family, making our business model their own. To our pride, the vast majority have been families that have turned to entrepreneurship and that, today, replicate those values of transparency, honesty, trust and loyalty to their clients.
Apr 25, 2023
If you live in Miami, Florida, you have probably noticed an increase in the number of rideshare drivers on the roads (or used the service yourself). While the convenience of ride-hailing services like Uber and Lyft cannot be denied, it’s essential to consider the risks and liabilities of being a rideshare driver. The most critical aspect is insurance coverage.
Today, we’ll explore whether rideshare drivers in Miami require additional insurance and, if so, what options are available to them. We’ll also provide an overview of rideshare insurance, explain the gaps in personal auto insurance policies, and highlight some insurance options for rideshare drivers in Miami, so you can be fully protected if you choose to hop on the rideshare driving train yourself.
When it comes to rideshare insurance, you should understand that a policy has different periods of coverage, which depends solely on what you are doing when an accident occurs. For example, when drivers are driving with passengers or on their way to pick them up, Uber and Lyft provide insurance coverage. This coverage includes uninsured/underinsured motorist coverage as well as liability insurance, which covers third-party bodily injury and property damage. However, this coverage is subject to limitations, and there are gaps when drivers are waiting for trip requests or traveling for personal reasons.
On the other hand, if you are parked and waiting for a passenger, your rideshare insurance from your agency may not have any active coverage applied to you within those moments. For this reason, adding rideshare insurance through your auto insurance policy can greatly ensure you are protected whenever the app is turned on.
It’s also worth noting that insurance requirements for rideshare drivers vary by state. In Florida, for example, the state government has enacted legislation mandating ridesharing companies to carry specific amounts of insurance coverage. However, these laws are only in effect for a limited period, revealing coverage gaps drivers must be aware of.
To help you better understand rideshare insurance, here is a quick breakdown of the different coverage periods:
Period 0: When the driver’s rideshare app is turned off, and the car is being used strictly for personal reasons, the vehicle’s insurance will provide coverage.
Period 1: If the app is turned on and the driver is waiting to be paired with a passenger, rideshare insurance will provide some coverage to the driver and vehicle. Uber or Lyft liability insurance will also kick in for additional coverage. However, this coverage is not typically in full effect, and the company insurance is limited.
Period 2: Both personal rideshare insurance and rideshare company insurance will be in full effect when the driver has been paired with a passenger and is en route to pick them up.
Period 3: Both personal rideshare insurance and the rideshare company insurance will cover the driver and the passenger once the passenger has been picked up. This period will continue while the passenger is being transported to their desired destination.
In Miami, Florida, personal vehicle insurance plans must fulfill the state’s minimum coverage requirements, which include $10,000 in personal injury protection (PIP) and $10,000 in property damage liability coverage. However, personal vehicle insurance coverage does not often cover business usage, including driving for a ridesharing operator. This implies that if you are a rideshare driver with only personal vehicle insurance coverage, you may be uninsured in certain instances.
Let’s again assume you are waiting for a ride request when you are involved in an accident. Because you were not actively driving or riding with a rideshare passenger at the time of the collision, your personal vehicle insurance policy may not cover the resulting losses or injuries. Similarly, if you drive for personal purposes and are involved in an accident while using the rideshare app, your vehicle insurance coverage may not cover the losses.
It’s vital to remember that not having enough insurance might have major financial ramifications. If you are at fault in an accident and do not have adequate insurance coverage, you may be held accountable for any damage or injuries that occur, resulting in hefty out-of-pocket payments.
So, how can you protect yourself and your vehicle while driving for a rideshare company? Well, for starters, you should talk to your rideshare agency to understand the full extent of your rideshare insurance policy. Following that, you should inform your auto insurance agency of your new job as a rideshare driver (even if it is only a part-time side hustle). This will ensure that you are protected through the different periods of required coverage while driving for a rideshare company and will also help you avoid any potential insurance gaps.
Personal auto insurance policy, as previously stated, may not offer appropriate coverage for rideshare drivers in Miami, Florida. Fortunately, rideshare drivers have extra insurance alternatives to enhance their coverage.
Commercial auto insurance is one alternative for firms that use automobiles for business purposes. A commercial vehicle insurance policy may cover accidents while driving for a rideshare business. These plans, however, can be more expensive than personal vehicle insurance premiums and may not be affordable for many rideshare drivers.
A ridesharing insurance coverage, which is mainly created for rideshare drivers, is another alternative. Rideshare insurance packages can fill gaps in your rideshare company’s insurance coverage, such as when you’re waiting for ride requests or driving for personal reasons while the app is active. These plans are often less expensive than commercial vehicle insurance policies and may be a useful alternative for rideshare drivers seeking additional coverage.
Finally, an endorsement policy, which adds coverage to your existing personal vehicle insurance policy, is an option. Endorsement plans can provide business coverage and may be a less expensive choice than commercial auto insurance. However, not all insurance companies give rideshare driver endorsement plans, so it is beneficial to speak directly to an agent about your options when driving for a rideshare company.
While extra insurance coverage is not legally necessary for rideshare drivers in Miami, it is strongly advised. Because of the possible dangers and liabilities associated with being a rideshare driver, proper insurance coverage is required.
For example, if you are involved in an accident while driving for a rideshare business and do not have enough insurance coverage, you may be held accountable for any resulting damages or injuries. Medical expenditures, property damage, and missed pay are all possibilities, and you might face huge financial losses and possibly bankruptcy if you do not have proper insurance coverage.
Furthermore, as we stated before, ridesharing firms’ insurance plans may not always provide adequate coverage. While ridesharing firms such as Uber and Lyft provide insurance coverage for their drivers while driving with passengers or on route to pick them up, there are gaps in coverage when drivers are waiting for ride requests or traveling for personal reasons. If you are involved in an accident while these gaps in insurance are applied, you may be held finically and legally responsible for paying for any damages to your vehicle or someone else’s vehicle.
The bottom conclusion is that Miami, Florida, rideshare drivers should be aware of any gaps in insurance coverage given by ridesharing businesses and personal vehicle insurance plans. While rideshare firms provide insurance coverage for their drivers, it is not always adequate, especially when drivers wait for ride requests or drive for personal reasons with the app open.
Ridesharing drivers in Miami may explore extra insurance alternatives such as business vehicle insurance, ridesharing insurance plans, or endorsement policies to protect themselves and their passengers. These plans can fill gaps in rideshare company and personal vehicle insurance coverage and are a less expensive choice than commercial auto insurance.
To get the best coverage for their unique requirements and budget, rideshare drivers should investigate their insurance alternatives and talk with a professional insurance agent. To protect themselves and their passengers from financial damage in the case of an accident, rideshare drivers in Miami must have proper insurance coverage.
Del Toro Insurance understands the need provide affordable rates and coverage as a supplier of ridesharing insurance packages in Miami. Our expert insurance agents can assist you in locating the finest ridesharing insurance coverage to meet your demands and budget.
Our team of expert agents can help you with a variety of insurance products, including ridesharing insurance packages that help fill gaps in your rideshare company’s insurance coverage. Our plans are tailored to rideshare drivers and can give you peace of mind while you’re on the road.
We take pride in offering great customer service and collaborating with our clients to discover the finest insurance solutions for their needs. Our experts are educated about the insurance requirements for Miami rideshare drivers and can assist you in selecting and acquiring insurance coverage.
If you are a rideshare driver in Miami and want additional insurance coverage, contact Del Toro Insurance. Allow us to assist you in locating the finest rideshare insurance coverage for your needs and providing you with the peace of mind you need while on the road!
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