Buckle, a U.S.-based financial services group, announced on Thursday it launched its rideshare-only auto insurance is now available in Tennessee. Buckle claims that it launched the first of its kind insurance, providing rideshare and Transportation Network Company (TNC) drivers with personal and commercial coverage in one, affordable policy to eligible rideshare drivers in Georgia.
“Buckle’s auto insurance products use non-traditional, rich data sources available on gig workers that traditional insurers do not have access to, including driving track records, crowdsourced from thousands of trips. This allows Buckle to provide affordable auto insurance to this new risk class that falls in-between non-prime and deep sub-prime.”
While sharing more details about the service, Sharon Fernandez, Head of Insurance at Buckle, stated:
“Previously, rideshare drivers were left with few options to stay protected on the road, but Buckle Insurance has been well received since our initial launch, insuring gig drivers throughout Georgia, and we are positioned to rapidly expand in Q1 of this year.”
Founded in 2017, Buckle state provides financial products and services to the shared economy. The company revealed that beginning with insurance, its goal is to offer streamlined and transparent transactions to those who turn their personal assets into revenue-driving opportunities.
“Buckle feels that things like insurance and financial services were not built for the specific needs of rideshare drivers, so we’re trying to do something about that. We build our products from the ground up to support drivers within the shared economy, and in doing so, legitimize the shared economy for all those involved.”