Earlier this week, Gov. Andrew Cuomo signed legislation allowing ridesharing to become a reality in Upstate NY beginning on June 29th. Should you choose to use your own vehicle and become a ride share driver it is important to understand how your auto insurance will respond. The short answer? It won't! Once a driver is logged in to the network waiting for an assignment your auto insurance excludes both liability and physical damage coverage. The transportation network company (TNC) is required to provide to drivers a liability only policy. They provide a $75,000 per person/$150,00 per accident/$25,000 property damage limit when there aren't any passengers in the car and a $1,250,000 limit while passengers are in the car. The network providers do not provide any physical damage coverage. Though the Govenor was interested in making ridsharing available as quick as possible the insurance companies were not given enough time to submit filings to be approved by The NYS Dept. of Financial Services. We will continue to monitor this topic and keep you informed as we are updated.