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TNC insurance costs and the uninsured/underinsured motorist debate draw scrutiny
Summary
Committee members, TNC representatives and consumer advocates debated a unique uninsured/underinsured motorist (UIM) insurance requirement for TNCs, with companies citing large per‑ride insurance costs and advocates urging caution before lowering coverage mandates.
The hearing turned to insurance, a recurring cost driver for ride‑hail trips and a subject of proposed legislative changes.
Lyft and Uber witnesses said insurance — particularly requirements for uninsured/underinsured motorist (UIM) coverage — is the largest cost driver for rides. Uber told the committee an analysis concluded that, had the current UIM requirement been lower in 2024, Californians might have saved roughly $700 million in aggregate additional costs; company testimony said the insurance portion of some rides has reached…
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