Progressive® Insurance Introduces Coverage for Transportation Network Company Drivers in Texas
MAYFIELD VILLAGE, Ohio — February 22, 2016 — To serve the rapidly growing ridesharing market, Progressive® Insurance is now offering coverage for drivers of Transportation Network Companies (TNCs) in Texas. The coverage will be a personal policy endorsement that fills most of the coverage gap between a personal auto policy and the commercial coverage held by a TNC like Uber or Lyft.
"Ridesharing is changing the way people are getting around," said Dave Pratt, a business leader for Progressive. "This new endorsement will provide TNC drivers the peace-of-mind that they're covered for liability, uninsured/underinsured motorist coverage and physical damage at all times—whether they have a passenger or not, and is backed by Progressive's excellent claims service. The way people move is changing and Progressive is committed to creating innovative products that address drivers' evolving insurance needs."
The offering will allow customers to extend roadside assistance, comprehensive and collision through all phases of TNC activity. Drivers will also receive an additional benefit: if the collision coverage provided by the TNC includes a deductible that's higher than the customer's deductible under their Progressive policy, Progressive will pay the difference.
The new endorsement, available to new and existing customers, meets the updated requirements to comply with Texas law. Texas customers who drive for a TNC should contact their local Progressive agent or call 1-800-PROGRESSIVE to learn more about this endorsement.
The Progressive Group of Insurance Companies makes it easy to understand, buy and use auto insurance. Progressive offers choices so consumers can reach it whenever, wherever and however it's most convenient—online at progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.
Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. Home insurance is underwritten by select carriers, including its majority-owned subsidiary, American Strategic Insurance (ASI).
Progressive is the fourth largest auto insurer in the country; a leading seller of motorcycle and commercial auto insurance; and through ASI, one of the top 20 homeowners carriers. Progressive also offers car insurance online in Australia at http://www.progressiveonline.com.au.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and Service Centers.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.