Buckle Unveils First-of-its-Kind Rideshare-only Insurance to Protect Drivers Both On and Off the App
Launches partnership with Lyft to provide drivers with personal and commercial coverage in one, affordable policy
ATLANTA — Feb. 5, 2020 — Buckle, a technology-driven financial services company, has unveiled 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 your rideshare app is on or off, giving drivers peace of mind. Buckle Insurance is now available to eligible Lyft drivers in Georgia with other partners expected in the coming months.
“The evolution of ridesharing has created a problem for insurance companies, and their inability to adapt to this new form of transportation has left the rideshare driver with few options to stay protected while on the road,” said Dustin Walsey, CEO and co-founder of Buckle. “Buckle is solving this problem with innovative, unique underwriting that is unlike anything else on the market – complete coverage at an affordable price. Buckle’s goal is to bolster the rideshare community by addressing their unique needs with services they deserve at better prices, starting with insurance.”
The growth of the gig economy, driven by platforms like Lyft, is shaping the future of work. According to Statista, the number of freelancers in the U.S. will reach more than 91 million by 2028. This growing area of the workforce has created challenges for traditional industries like insurance. With Buckle Insurance, Buckle is addressing the problem of auto insurance for rideshare drivers by offering an affordable hybrid policy based on their driving track records, which has been crowdsourced from thousands of trips.
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.
Eligible Lyft drivers in Georgia interested in a quote can visit www.buckleup.com/lyft, or call 1.866.828.2553. Lyft drivers outside of Georgia and other TNC rideshare drivers can stay updated on Buckle Insurance availability in their areas at www.buckleup.com.
Buckle provides technology-driven financial products and services to the shared economy. When delivering insurance, the company’s goal is to offer streamlined and transparent transactions to those who turn their personal assets into revenue-driving opportunities. For more information on Buckle, visit www.buckleup.com and connect on Facebook and LinkedIn.
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