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Ola Drivers: What You Need to Know About Car Insurance
Rideshare services have transformed personal transportation in cities around the world. With the initially explosive success of Uber as a guide, competitors such as India based Ola have started expanding worldwide.
Ola has 1.5 million rides to its credit and has just recently expanded to Australia’s tourist areas to establish its service. Though it doesn’t release driver number figures, some estimate that it has 15,000.
In India, where Ola was founded, it has 125 million regular users in 110 cities, encouraging the company to expand into Australia with confidence.
Ola eyes the vast potential for profit in Australia, where Uber already sees approximately 4.3 million users every three months.
Like Uber, Ola should attract many drivers who enjoy the opportunity to earn good money while working flexible hours. With ride-sharing evolving into an essential part of urban transportation, there should be many opportunities.
Aspiring drivers should know that working for Ola mandates that the driver carry comprehensive rideshare car insurance and meet all federal, state, and local regulations.
For those looking to join the industry, we have a few insurance-related tips you may need to follow
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Required Car Insurance for Ola Drivers
Ola rideshare drivers must meet both company and legal requirements to provide services car insurance.
All rideshare drivers, regardless of company, must obtain compulsory third-party insurance. Generally known only as CTP, this type of insurance makes sure that riders and their families, if necessary, receive compensation if injured or killed in an accident.
Except for New South Wales, drivers obtain CPT insurance along with their vehicle’s registration. Only in New South Wales, must CTP insurance be purchased separately from the car’s registration.
Make sure to research all legal criteria for running a rideshare operation from your personal vehicle before providing service.
Even with CTP coverage, you still have the legal obligation to carry conventional car insurance. Those who still owe payments from a car loan must have comprehensive insurance required by the lender. Others are advised also to carry comprehensive to protect their vehicle.
Ola Insurance Coverage in Australia
Drivers for Ola automatically receive a contingent liability policy from accidental Health International that works in tandem with CTP insurance that drivers must acquire on their own. This insurance protects both driver and passenger in the event of an accident.
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Learn more about what UbiCar can do for you as an Ola driver. Our company is committed to the belief that if you maintain great driving habits, your insurance should cost less.
Please ask about our cheap Ola rideshare car insurance today. Let us help you get the coverage that you need for the cost you deserve to pay.
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UbiCar ‘How you Drive’ Comprehensive Car Insurance and UbiCar ‘Pay per km’ Comprehensive Car Insurance are underwritten by RAC Insurance Pty Limited (ABN 59 094 685 882; AFSL 231222) (RACI). UbiCar Insurance Pty Limited (ACN 616 438 503; ABN 83 601 223 858; AFSL 469073) (UbiCar) arranges and manages these insurance products on behalf of RACI.
UbiCar ‘Pay per km for Hyundai’ Comprehensive Car Insurance is underwritten by RACI. UbiCar arranges and manages this insurance product on behalf of RACI. In arranging this insurance Hyundai Motor Company Australia Pty Limited (ACN 58 008 995 588) of 394 Lane Cove Rd, Macquarie Park NSW, 2113 (Hyundai) act for UbiCar, not you. Hyundai and its representatives, as well as your Hyundai dealer have been authorised by UbiCar as its general insurance distributor to deal in this product. They are not authorised to provide any advice on this insurance. If you purchase this insurance Hyundai receives a commission from UbiCar.
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