How Does Auto Insurance Work With Gig Economy Drivers, with Dustin Walsey of Buckle

Deliver on Your Business

Dustin Walsey, co-founder and President of Buckle Insurance, joins us to talk about all things insurance.
If Buckle is in your state, you can sign up here. If they aren't in your state, you can still sign up and get notified of when they are available. During the interview I misspoke their URL as GetBuckle.com (instead of BuckleUp.com). Dustin said he thought that probably would get you there as well, and it turns out he's right.
If you are a gig economy driver (Doordash, Uber Eats, Grubhub, Instacart, Shipt, Uber, Lyft and many others) this is an incredibly important topic that you MUST pay attention to. A shockingly high number of gig economy drivers are uninsured when out working the apps, especially in the delivery industry.
Buckle Insurance is the first insurance company I'm aware of that was created specifically for the gig economy. They work closely with many of the gig platforms. As of the posting of this episode, they're only in a handful of states but they cover about 30% of the U.S. population.
We cover questions such as:
What is Buckle Insurance and how did they get started?
What are the challenges for a new insurance company trying to get approved to provide coverage in every state?
What kind of coverage does Buckle provide?
Why is delivery considered high risk to insurance if we aren't carrying passengers?
How the explosion of delivery during the pandemic impacts our society and the need to protect contractors who are out in the field
Looking at different types of insurance and how Buckle compares, such as personal policies, rideshare endorsements, commercial policies, and hybrid commercial policies.
When should a person consider full coverage instead of liability only, even if their car is paid off?
How do state insurance regulations and different kinds of risk impact insurance premiums?
What states are served now by Buckle?
What can someone do to make sure they're covered in states Buckle isn't yet serving?
How do credit ratings impact typical premiums and how is it different with Buckle?
What kind of relationship does Buckle have with different gig economy platforms?
What kind of coverage does Buckle provide if you're driving for a platform that Buckle does not have a relationship with?
Buckle is available at GetBuckle.com. Some products on the website and podcast are ones I have an affiliate relationship with, and if so, I may receive compensation for products purchased.
Comments or questions? Shoot me an email.
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章节

1. Introduction (00:00:00)

2. Introducing Dustin with Buckle Insurance (00:07:38)

3. Why isn't Buckle in more states? (00:09:39)

4. The importance of insurance in delivery (not just rideshare) (00:11:19)

5. What kind of coverage does Buckle offer? (00:13:44)

6. Why is delivery seen as high risk in insurance industry? (00:15:51)

7. The explosion of delivery and the impact on our society (00:17:51)

8. Don't gig economy companies provide commercial insurance? (00:21:46)

9. More on the higher risks of delivery (00:28:21)

10. The value of paying more even in a tough economy (00:31:01)

11. When should one get full coverage vs liability only? (00:35:49)

12. Should you lie to your insurance about doing delivery? (00:39:48)

13. The regulatory challenges for insurance companies (00:44:42)

14. What states does Buckle serve at this time? (00:48:01)

15. What can people do who don't have Buckle in their state? (00:49:03)

16. Comparing rideshare endorsements to commercial policies (00:50:20)

17. The impact of credit rating on Buckle members (00:53:09)

18. Buckle's relationship with Gig companies (and gaps with unrelated platforms) (00:53:51)

19. Closing thoughts from Dustin (01:01:10)

20. My impressions of the good and bad (01:04:15)