General Discussion

Xolodno

(7,362 posts)

14. As some one who works in the insurance industry....

Thu Jul 23, 2015, 05:32 PM

Jul 2015

...sometimes the commercial rates are lower.

Right now, most of the major carries wont touch Uber. But that is changing, Farmers started insuring them in California (probably because the lawsuit against Uber forced them to change insurance standards), USAA and GIECO have also started offering insurance.

Prior to that, it was much like Marijuana stores are insured, through a broker who works with several niche insurance and reinsurance companies who all share the risk, premium and losses (imagine being insured for 100k, with 10 companies only insuring 10k each...and if there is a loss of say 10k, each company forks out 1k).

With that said, this also creates another problem. Its assuming the Uber car is being used part time as opposed to a cab as full time (and given some insurance companies do track the miles you drive...). So, Uber cars will still have a lower rate.

What will drive the rate up...insurance requirements by the state (as well as other regulations, particularly when a nut job Uber driver does something horrible and there is a public outcry)....but then I could imagine that cab companies demand they start getting charged by the mile, which could drive their rates down.

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Where do people here come down on Uber et. al.? [View all] WhaTHellsgoingonhere Jul 2015 OP

Typical captialist organization, using workers with no benefits, working under no reglations, Agnosticsherbet Jul 2015 #1

What's the smaller business that they're "forcing out of business:? Initech Jul 2015 #23

Many Taxi drivers are independents who must be licensed Agnosticsherbet Jul 2015 #24

Is there something wrong TeddyR Jul 2015 #27

I'm a big fan of "ideal gasses" myself. immoderate Jul 2015 #29

Is there something wrong with running an unregulated Agnosticsherbet Jul 2015 #52

"Free Market" = Thread Fail WhaTHellsgoingonhere Jul 2015 #57

+1 nt laundry_queen Jul 2015 #96

The medallion owner/driver thing is a myth in a lot of cities Recursion Jul 2015 #87

Their entire premise that drivers are contractors is wrong mythology Jul 2015 #2

The drivers get screwed in both systems Recursion Jul 2015 #80

They should have to work under the same regulations as anyone else. Erich Bloodaxe BSN Jul 2015 #3

Sometimes the reason there are regulations is to protect a monopoly. This is often the case PoliticAverse Jul 2015 #11

"artificially limited" jberryhill Jul 2015 #19

What monopoly is that? we can do it Jul 2015 #66

My post concerned the case when the number of licenses granted is limited regardless PoliticAverse Jul 2015 #68

Bullshit. See post 19. Another scam to suck the life out of workers. we can do it Jul 2015 #69

You know most cab drivers in NYC actually have to lease their vehicles PoliticAverse Jul 2015 #71

Most places taxi drivers lease vehicles. so. we can do it Jul 2015 #73

No, arbitrarily limiting the number of medallions back in the 1930s Recursion Jul 2015 #74

Can see that could be a problem. we can do it Jul 2015 #78

How much vetting do you think the yellow cabs do of their drivers? Recursion Jul 2015 #82

In places where a taxi medallion might be $300,000 madville Jul 2015 #4

Owning a medallion is a misinformation campaign WhaTHellsgoingonhere Jul 2015 #58

If you can find a medallion owner who will lease to you Recursion Jul 2015 #75

Uber is stealth deregulation and union-busting Spider Jerusalem Jul 2015 #5

I'm waiting for automobile insurance companies to figure out that they can justify Maedhros Jul 2015 #6

Bingo! B Calm Jul 2015 #10

Or...... philosslayer Jul 2015 #13

As some one who works in the insurance industry.... Xolodno Jul 2015 #14

I had this question also Major Nikon Jul 2015 #17

I wondered about that dflprincess Jul 2015 #79

One ran over a kid in a crosswalk in San Francisco LeftyMom Jul 2015 #63

I'm on the fence about it. Xithras Jul 2015 #7

I like your analysis and your idea about driver ownership! csziggy Jul 2015 #28

Its a transitional company that will eventually replace most taxi services with automated cars... Humanist_Activist Jul 2015 #8

Yes, it's transitional. immoderate Jul 2015 #36

What you say is true, but, if we are able to implement good public policy to... Humanist_Activist Jul 2015 #53

I know some carless people that use Uber... HooptieWagon Jul 2015 #9

You don't need a background check to drive a yellow cab, either, in most places Recursion Jul 2015 #85

Thete are some nice yhings about Uber ripcord Jul 2015 #12

They are presently spamming NYC media with ads KamaAina Jul 2015 #15

I live in SoCal and I don't drive. Iggo Jul 2015 #16

So you like unlicensed, unregulated people driving you around? philosslayer Jul 2015 #86

Cabs are ridiculously expensive yeoman6987 Jul 2015 #90

It's an unlicensed, unregulated commercial taxi service which is also skirting tax law groundloop Jul 2015 #18

I think it undermines access for people with disabilities. HereSince1628 Jul 2015 #20

I love my state's approach on it nadinbrzezinski Jul 2015 #21

Buzzfeed is wrong. former9thward Jul 2015 #43

They have an update on it nadinbrzezinski Jul 2015 #45

Precisely Sherman A1 Jul 2015 #47

Automobiles suck. hunter Jul 2015 #22

Some people like to venture freely beyond walking distance seveneyes Jul 2015 #25

I've always been within walking or sailing distance of the entire planet. hunter Jul 2015 #26

Really? TeddyR Jul 2015 #30

"I ought to be able to walk to the grocery store" EX500rider Jul 2015 #54

Real taxis all the way. Lizzie Poppet Jul 2015 #31

If you don't like Uber, don't ride with them, Nye Bevan Jul 2015 #32

What makes you credit Uber with a drop in DUIs? And do you have a link to support that? randome Jul 2015 #38

"Uber Might Already Be Reducing DUIs" Nye Bevan Jul 2015 #39

"Might." Even if true, the reasons can and should be adopted. randome Jul 2015 #48

Powerful circumstantial evidence. Nye Bevan Jul 2015 #49

DUIs....exactly. tammywammy Jul 2015 #42

So because you could drink more than usual, Uber contractors (not employees, remember)... randome Jul 2015 #50

What damage did the drivers suffer? whatthehey Jul 2015 #70

Uber represents the gig economy - thumbs down daredtowork Jul 2015 #33

I know some people who drove for Uber kimbutgar Jul 2015 #34

Uber, to me, is like Twitter LuvLoogie Jul 2015 #35

Desperation capitalism with the owners rolling in millions. randome Jul 2015 #37

Why? TeddyR Jul 2015 #40

The owners make millions. Drivers, for the most part, break even or lose money. randome Jul 2015 #46

Laura Washington, an AA columnist in Chicago, wrote a column about how Uber former9thward Jul 2015 #41

Getting a cab to pick you up on the Southside is difficult in general. Ace Rothstein Jul 2015 #92

Union Breaking Cab Service for the Elite! KoKo Jul 2015 #44

Definitely not for the elite. Elites have car services with luxury cars and limos. stevenleser Jul 2015 #59

I hate it olddots Jul 2015 #51

I like it. I took uber home last night WestCoastLib Jul 2015 #55

Another industry a liberal wants to drive the wages... WhaTHellsgoingonhere Jul 2015 #64

It's a reshuffling of where the jobs are. WestCoastLib Jul 2015 #72

Reshuffling from cabs to personal cars? That's a loser. WhaTHellsgoingonhere Jul 2015 #77

No protection for passengers. kiva Jul 2015 #56

"Natural monopoly" WhaTHellsgoingonhere Jul 2015 #60

I think that misguided yuppies ibegurpard Jul 2015 #61

It's deregulation. Starry Messenger Jul 2015 #62

Uber is total bullshit. we can do it Jul 2015 #65

Haven't studied it fully, but there are things about it I don't like. Renew Deal Jul 2015 #67

In big coastal cities it's breaking the political power of rich medallion owners Recursion Jul 2015 #76

Scab cabbies depressing wages. TransitJohn Jul 2015 #81

Do they actually make less than medallion drivers? Recursion Jul 2015 #83

Uber is precisely what is wrong with today's economy ericson00 Jul 2015 #84

I generally accept the notion that Uber is first and foremost a software company Sen. Walter Sobchak Jul 2015 #88

Cars & capitalism are both evil... Yurovsky Jul 2015 #89

Bernie won't get rid of either... brooklynite Jul 2015 #91

Date rape without the date? spqr78 Jul 2015 #93

I'm only vaguely failiar with Uber. Have any cabbies weighed in on the issues, pro or con? pinto Jul 2015 #94

I've only ridden Uber once, to a concert, and the car was nice and the driver was friendly petronius Jul 2015 #95