Buckle - the gig insurance solution
by Startacus Admin
The lowdown on Buckle, the US-based insurtech platform that's addressing the insurance needs of rideshare and delivery drivers.
Insurance. It’s something that we rarely use, costs us a lot, and that we absolutely need. Some people, however, have a harder time with their vehicle’s insurance, because they are classed as non-standard and high risk. This includes delivery drivers who use their own vehicles and rideshare drivers, who use their vehicles for both personal and business purposes.
Most companies expect the driver’s own insurance to cover the expenses in the event of an accident, but personal insurance doesn’t tend to cover rideshare or delivery. Rideshare drivers can get a ‘rideshare endorsement’ to allow their insurance to cover them, but it can be expensive, might not be sufficient, and doesn’t cover deliveries. So it’s about time we had something made specifically for them.
US-based insurtech startup Buckle has such a tailor-made insurance platform for these ‘non-standard’ insurance-needers. Rather than considering them as high risk and charging exorbitant premiums, Buckle is carefully designed for exactly these people, with an understanding of what they do and what they need.
Cover starts at $500, and doesn’t use credit checks; instead looking at your driving history and your rideshare star ratings to determine how well you drive. All you need to do is connect your business account so they know that you are eligible, input your licence and VIN number, choose your coverage from basic to full, and then pay and start driving with immediate coverage. Currently, Buckle insurance is only available in the US.
In June, Buckle was named in the first annual Insurtech 50 list by CB Insights, which showcases the most promising private insurtech companies around the world. The startup was selected from a pool of more than 2,000 companies, based on factors such as R&D activity, market potential, investor profile, news sentiment analysis, tech novelty, and many others.
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Published on: 12th August 2022
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