i’m not assuming for the sake of assuming but why wouldn’t uber detail how their commercial coverage protects drivers? true cab insurance, which i’m sure can only be acquired by legally mandated cab companies, covers many of the small things that are probably uninsurable unless you are a regulated cab company. Uber only talks about liability coverage so that the users feel comfortable with getting in the cab. there is nothing on how the drivers are safe from ill-intentioned users or liability of users’ property. i doubt when uber was starting out they were able to convince insurance companies to give them policies similar to taxi cab companies without much accountability on behalf of the drivers. i think its fair to assume that some dude who gets a new car and the Uber app and basically starts freelancing by driving people around has a little less coverage than a cab driver who’s actually in the employ of somebody and is accountable to a walking talking human being, instead of some ominous online website.
seems fair. why wouldn’t Uber/driver have to pay commercial rates when the Uber app is on? if the app is on, you’re working right? this will definitely raise the % the goes to Uber.
albeit, this is for Cali only, but i’m sure it’s the same in many other places.
why would Uber not want their standard insurance policy disclosed to the public if they were covering both the driver and passenger to the degree that would make the driver and passenger comfortable in using their service?
As learned in the Economics section of the Level I exam, excessive profits will drive other entrants to the industry…this will surely drive down uber and Lyft profits…
Correct. Driving an NYC taxicab was probably quite lucrative in the early 1900’s when the idea was new.
Eventually the rates for Uber/Lyft/etc will drop enough (and/or the number of drivers will increase enough) that participating will be, at best, barely-worthwhile for drivers.
Looks like I missed a lot of the discussion but I will chime in with a few reasons you wouldn’t want to be an Uber driver. I went to dinner last night with a friend who is senior at corporate Lyft, Uber’s biggest competitor. He was telling me how funny it is to read through the database of blocked drivers and passengers.
Basically, for every crazy Uber drive who hits someone in the face with a hammer (that just happened in the Bay Area, so many crazy people around here), you have thousands of crazy passengers that get banned. Is it worth it to make $1,300 a week so people can do drugs, break open container laws, have sex, etc. in the back of your car? Sounds so awesome. Apparently the number one and two bannable passenger offenses are (in order): drinking in the back of the car, and performing oral sex. If someone were trying to get a blowie in the back of my car, they would be let out in traffic.
Took an Uber in Hamburg. The driver said he goes through the city on his daily commute to his job as a property manager. Picking up someone and driving them across the city in his direction pays for his gas.