Cachet is first in Estonia to bring tailored traffic and casco insurance for ridesharing service providers.
October 4, 2019 / Estonia
Starting from 02. October 2019 (Tallinn), Uber drivers can pay respectively to the hours they drive as a ridesharing service provider and not while being offline.
That is possible thanks for Cachet.
Perhaps you have wondered yourself, why do all drivers pay the same amount for insurance. Even though, some of them only drive a couple times a week.
Today, with thousands of partner-drivers on the ridesharing market, almost half of them are driving part-time. That has caused a situation where pricing is unfair for the one who drive part-time, next to their main job, or are driving on multiple ride-sharing platforms.
Cachet has partnered with Uber to solve this problem and has come up with an innovative insurance offer that considers drivers hours on the road while offering the service, not while being offline.
They are entering the market with BTA insurance and will offer 4 products: traffic and casco insurance for ridesharing driver & traffic and casco insurance for regular customer.
How does Cachet work?
- Start driving. Once you do, register a Cachet account.
- Agree to share additional information from your driving platform with us.
- Pick a term for your policy.
- Write down roughly how many hours a week you usually provide ride-hailing services.
- Purchase an insurance policy through Cachet.
In short:
- Pay insurance price only when offering ridesharing service. Save up to 50%!
- Ride at your preferred ridesharing platform and Cachet will count your hours, and you will only pay for the hours that you have driven.
- Cachet is first and only quantity based traffic and casco insurance in Estonia.
- Possible to drive on multiple platforms at the same time and Cachet will aggregate the info and calculate your correct price.
Read more about Cachet: https://cachet.me
If you have any questions about Cachet: support@cachet.me
or give them a call : +372 51 82 206
If you have questions about Uber, write us here: http://t.uber.com/kysimus
- How does Cachet work?
- Start driving. Once you do, register a Cachet account.
- Agree to share additional information from your driving platform with us.
- Pick a term for your policy.
- Write down roughly how many hours a week you usually provide ride-hailing services.
- Purchase an insurance policy through Cachet.
- Why can’t I drive for Uber with my standard traffic insurance?
Driver who provides ride-hailing services in any capacity whatsoever is a taxi driver and their car qualifies as a taxi, so they need insurance meant for taxis. Up until now, the cheapest taxi insurance has been about five times more expensive than regular insurance. Cachet is here to change that. Pay only for the hours you actually spend providing ride-hailing service.
- How does Cachet differ from a traditional insurance distributors?
Cachet is an insurance intermediary with an all-in-one mentality who covers all your car insurance needs easily and conveniently, taking into account your personal driving schedule. With us you pay for your insurance on the basis of your logged working hours. Thanks to this, you always know what you are paying for.
- What conditions do I need to meet to be eligible for insurance for ride-hailing drivers?
Create Cachet account, give us consent to ask for your driving data from Uber and you’re good to go!
- In which countries can I use Cachet?
We are growing and getting everywhere, but first we launch Cachet in Estonia (September 2019) and a little later in the neighboring Latvia.
- What does user-based insurance mean?
It means that if you use app-based ride-hailing intermediaries, such as Uber, your taxi insurance costs are calculated based on the hours you actually spend providing your services. For the rest of the time when you’re not working, regular insurance applies for your car.
- Do I have to pay for my Cachet account?
No, Cachet account is free for everyone. We get a percentage of the insurance price. It’s the way all insurance agents and intermediaries operate.
- The Green Card- What is it?
- The Green Card is the proof of valid motor third party liability insurance abroad. The Green Card is mandatory when traveling outside the EEA (except Switzerland). In EEA countries, the Green Card is recommended, but only a motor insurance policy (including digital) is sufficient.
- A green card is required in the following countries: Albania, Andorra, Azerbaijan, Bosnia and Herzegovina, Israel, Iran, Northern Macedonia, Morocco, Moldova, Montenegro, Serbia, Tunisia, Turkey, Ukraine, Belarus, Russia.
- Does Cachet issue a green card?
Yes! To request a green card, please send your request to - support@cachet.me
Please include: Vehicle number; personal identification code, the address where we will mail it to.
- How are hours calculated, based on trips or also in between trips?
Cachet is counting trips to the client and with the client.
- Are private rides also covered?
Yes, the insurance is always active. Pricing in simply based on the amount of trips.
- We have received different feedback on the pricing
- Nearly half of the clients have received noticeable pricecut, 40-50%
- 20% have saved approximately 200EUR
- About 10-15% have received an offer that is similar or few EUR more expensive (here matters the history of the previous insurance)
- How do I cancel my other insurance?
Unfortunately Cachet cannot help you there. They will only show you the price and it is up to you to decide.
- What happens if I drive more than promised?
Cachet is accepting few mistakes here and there. However, with regular mistakes, Cachet asks to change the pricing category. If ignored, Cachet has the right to cancel the insurance.
- What happens if I drive a lot in one week and then 0 hour in the next week?
Weekly-based tracking is one key element with the pricing. When a driver is driving 24h straight, his/her level of risk is also rising significantly. Therefore, optimal working hours are important.
- How is the payment schedule looking?
Traffic insurance is available in a single payment for the entire period of validity (for now).
- Do I need to cancel my previous/current insurance and then start a new one with Cachet?
Yes. For that you must send a statement of cancellation to your insurance provider.
- Are there any extra conditions with the insurance?
No. With a lease, it is expected to have a signed casco insurance. You can successfully do that with Cachet.
- Is Cachet sharing info with MTA?
No.
- Are the calculations done based on 1 hour or minutes?
Calculations are done based on minutes, but limited to hours. The number of hours is selected by the driver when signing. That means, when driver has 3 trips in total for 35 minutes, in the timeframe between 14-16 (2h), then only 35 minutes are calculated, not 2hours.
- If I buy my ridesharing traffic insurance from Cachet. Do I still need to buy the additional traffic insurance as a regular driver?
No, you don’t. Ridesharing traffic insurance is already mandatory traffic insurance. With the only exception of Cachet requesting money only for the hours that you offer the service.
- What happens, if I want to change my hours or driving in the middle of the contract?
It is important then to cancel the insurance and sign a new one, due to the change of risks.
- Casco
Cachet is selling casco just like other insurance intermediaries (1 year contract) with opportunities to pay in installments. At this moment, they offer installments of 3,4,12 months for those who pay with a card.
Posted by Uber Editor
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