Buckle gears-up gig worker insurance

Buckle is extending its signature rideshare and delivery auto insurance to those who drive in various US regions for leading companies including Uber, Lyft, Instacart, Amazon Flex, Uber Eats, Grubhub, Favor, and others.

Buckle describes itself as being the only insurance company in the US designed specifically to protect gig economy drivers, providing coverage for personal, rideshare, and delivery in a single policy at affordable rates.

The company’s rideshare and delivery insurance forgoes the credit score methodology, which it said penalises gig workers, and instead uses non-traditional data sources, including star ratings and driving track records, crowdsourced from thousands of trips to price insurance policies.

Earlier this month, Buckle entered into a managing general agency (MGA) agreement with non-standard auto insurance specialist Amwins Specialty Auto. Under the agreement, Amwins is underwriting non-standard auto (NSA) insurance policies for Buckle in Florida as well as Buckle’s gig auto insurance for rideshare and delivery drivers in the state. Gateway Insurance, one of Buckle’s insurance carriers, is the admitted carrier for both products.

Sharon Fernandez, head of insurance at Buckle, said, “Extending our rideshare insurance, that provides both commercial and personal coverage in one affordable policy to include food and package delivery companies, means peace of mind for gig drivers during the busy holiday season and beyond when they can’t afford to lose their car following an accident.”

Copyright © 2021 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.