Commercial & Ride Share GAP
Did you know that commercial use vehicles are specifically excluded in the language of regular GAP policies? Commercial use is defined as any vehicle that is utilized for commercial/business purposes including but not limited to:
1) Business name is displayed on the vehicle
2) The vehicle is used in furtherance of business or commercial purposes
3) The purchase, license, registration, or primary insurance is in a business or commercial name or covered under a commercial policy
4) The vehicle is used as part of a transportation network company such as Uber or Lyft
In today’s economy it’s very common for a person to use his/her daily driver vehicle to make a little extra cash. By delivering some packages, providing some ride share services on evenings/weekends, advertising, even just putting their small business’s name and URL on the side of the car. However, all of these things would make the vehicle ineligible for regular GAP.
Even registering or insuring the vehicle under a company name for tax purposes will invalidate a regular GAP policy. That’s why Janus Automotive Administrators offers Commercial/Ride Share GAP that protects vehicles in this category from the risks of owing thousands of dollars should a vehicle be totaled or stolen and not recovered.