Peace of Mind for All: Vehicle Protection for the Rideshare Market

As the world’s job market continues to evolve and diversify, workplace settings are becoming increasingly nontraditional. Whether you’re working from the comfort of your home or through your mobile device constantly on the go, it’s impossible to deny the shift from the familiar nine-to-five to something more flexible. One of today’s more popular workplace alternatives is one’s vehicle. Through ridesharing services like Uber and Lyft, individuals have the power to create their own schedules and choose their own office—their car.

According to a 2018 automotive mobility study, in the last three years the rate of rideshare use has increased 39% nationwide and exceeds 50% in some markets.^1. Additionally, in 2016 alone, rideshare drivers accounted for 320 billion vehicle miles traveled in the United States.² It’s clear that ridesharing has entered the mainstream, and will continue to grow—with no end in sight—as customers’ desire for convenience and peace of mind remain important.

In order to capitalize on convenience and peace of mind, rideshare drivers often customize their cars to create the best experiences for their riders. By keeping their cars clean and smelling fresh, providing refreshments and cell phone chargers, and playing music of the rider’s choosing, rideshare drivers are constantly ensuring peace of mind for their customers.

But who’s providing peace of mind for the drivers?

According to Pete Lee, who serves as EasyCare’s Vice President of Product Development and Business Performance, “Customers who buy vehicles for rideshare service could put [more than] 25,000 miles on the odometer in the first year [of ridesharing].” For comparison, the average driver puts approximately 13,500 miles on his/her car per year.³ With rideshare drivers putting substantially more miles on their car than the average driver, it’s important for dealers to consider how they can deliver peace of mind to this rapidly growing market.

When a customer drives more than 12,000 miles per year, most factory warranty’s will expire before their time limit. That’s why progressive administrators, like EasyCare, is launching a Rideshare coverage suite that includes Rideshare VSC, Rideshare GAP, and Rideshare Prepaid Maintenance for the ridesharing vehicle that is commonly excluded in your typical vehicle coverage.

This benefit was developed because rideshare drivers need the ability to protect their most valuable asset in the same way the average driver does. Moreover, this market relies on peace of mind to ensure they are covered from unexpected costs that could disrupt or derail their business. As dealers, it’s vital for you to have these honest conversations with customers at your dealership. Understanding how drivers intend to use their cars could provide valuable insight into the ways with which you can serve them best.

Consider this: if rideshare drivers are willing to go the extra mile for their customers, perhaps they’re willing to go the extra mile to protect their livelihood too.

1 Evolution of Mobility: A shift towards alternative ownership
2 Cracks in the ridesharing market—and how to fill them
3 https://www.fhwa.dot.gov/ohim/onh00/bar8.htm