InsurTech startup Buckle is rolling out what it bills as the first rideshare-only insurance that provides rideshare and Transportation Network Company (TNC) drivers with personal and commercial coverage in one affordable policy.

Using the driving record from rideshare drivers, Buckle provides comprehensive, cost-effective coverage whether a driver’s rideshare app is on or off. Buckle Insurance is initially available to eligible Lyft drivers in Georgia, with other partners expected in the coming months.

The launch of Buckle Insurance comes after the company successfully completed its pilot with hundreds of drivers across Georgia in 2019. Buckle’s web-based, driver-centric user experience enables rideshare drivers to receive quotes in less than five minutes. Whether they are on duty or driving their family around on personal time, Buckle will offer them comprehensive coverage.

Buckle’s initial focus is to develop lifetime relationships with the rideshare community by providing affordable auto insurance. The company is also looking to extend its offering for those working in delivery services, Buckle said.

The company is regulated by state insurance commissioners and is backed by Munich Re and Clear Blue Insurance, its website notes.

Source: Buckle