Stable launches its first product
Stable Insurance, the insurance startup targeting rideshare, carshare, and delivery vehicle owners, has launched its first insurance product for owner operators – drivers who own vehicles that they drive on rideshare networks like Uber and Lyft.
Stable currently offers insurance to owner operators in the state of Illinois, and it will begin to offer this coverage in Arizona, Georgia, Tennessee, and Texas later this year. Stable has a goal of going live in California and Florida in the next 12 to 18 months, and by the end of 2022, it will introduce insurance coverage designed for rideshare fleets and carshare vehicle owners.
Earlier this year, the Brooklyn-based startup announced a $3.3 million investment.
“As Stable works to become the leading insurance partner for people and small businesses that use vehicles to generate income on a mobility platform, we are pleased to have achieved this important milestone in our journey. Because we were solving our own problem as fleet owners, we understand, better than most, the needs of rideshare drivers. These drivers need more than just insurance – they need a partner that understands them and tools that save them time and money while making their work safer. We look forward to bringing these compelling benefits to more and more rideshare drivers as well as to fleet owners as we continue to expand.” – Doug Ver Mulm, co-founder of Stable.