New Ridesharing Insurance Law Goes into Effect

FRESNO, Calif. (KMJ) — A new law has gone into effect in the Golden State, requiring that ridesharing companies maintain $1 million in coverage, from the time that a match is accepted, to the time that a passenger exits the vehicle.

Ridesharing services, such as Uber and Lyft, have grown tremendously in popularity in recent years.

However, concerns have been raised over safety and regulations.
 
California Insurance Commissioner Dave Jones hopes the new requirements will close existing coverage gaps, and ensure that passengers, drivers, and pedestrians are protected, when ridesharing vehicles are on the road.