Vero, an Australian motor insurer owned by Suncorp, has teamed up with Uber, the global rideshare platform, and Cover Genius, an embedded insurance specialist, to roll out Australia’s first pay-per-kilometre comprehensive motor cover built specifically for rideshare driver-partners.
The new offering is designed to charge drivers according to how much rideshare work they actually do each month. It combines a set premium that covers private use of the vehicle with a separate rideshare-based premium tied to the number of kilometres travelled on the Uber platform, so the cost rises or falls in line with a driver’s activity levels.
The launch responds to a common problem facing gig-economy drivers: standard personal motor policies, or compulsory third-party cover alone, can leave a gap in protection once a vehicle is used for paid rideshare trips. By merging private and platform driving into a single policy, the new product aims to close that coverage gap. It protects against vehicle damage, theft or total loss whether the car is being driven privately or for Uber trips, and eligible drivers can apply for it directly within the Uber Driver app rather than through a separate process.
Vero Head of Platform Business Laura Broughton said, “Rideshare drivers don’t all work the same hours from week to week or month to month, so traditional insurance models don’t always reflect how they use their vehicle.
“This product gives drivers a more flexible way to access cover that matches their driving patterns and helps reduce the risk of gaps in protection.”
Cover Genius Chief Business Officer Barney Pierce said, “Companies such as Uber and Vero are leading the way with a flexible mindset and a clear recognition that the way we work, budget, and live has changed.”
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