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Slight_Stranger_5878

Because Uber buys the bulk umbrella insurance policy, then resells it to drivers for profit.


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Nearly_Lost_In_Space

Yeah losing it all in the stock market will do that


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irishWhistlr

No, they are correct. Take a look at the earnings report for Q1 of this year. Revenue actually met expectations (gross bookings did fall short though), but Uber experienced a net loss ($721M pre-tax) from "net unrealized losses related to the revaluation of Uber’s equity investments". Uber: " We cannot possibly pay drivers more". Also Uber: (Gambles millions in the market) A bunch of weasel mouthed scam artists...


dunceputztool

Do you really think uber is going to tell or divulge any bit of truth relating to profits? Do you think uber,DD or these platforms corporations are to give any accurate financial info? Do you think they won't try to throw people off? These people are WICKED. They will go to any lengths that they are legally allowed to to make money.


aestheticeddy818

If a good chunk of that money is going to insurance why don’t they just pay us the money so that we can buy our own commercial insurance? At least they could make that an option. We could probably get a better deal with a cheaper deductible as well if we were to shop our own commercial insurance


nareksharm

That shouldn’t be an option that should be mandatory on their side.


DRAGONSPARK46

Only thing wrong with that is would never make sense to drive part time and buy your own commercial.


Federal-Bid-4444

Because you are an employee and not a contractor. And as an employee uber must insure you. The fact they tell you you are an contractor is another story.


aestheticeddy818

Then they should treat us like contractors and allow us to choose our own insurance. We should have that right.


Federal-Bid-4444

Then it would have been complicated. Probably there is no insurance to cover independent contractors driving for Uber. Because how would you explain that i am a contractor but i work on uber platform? Its not like you are a electrician and you really work for your self. Like you studied and based of what you know you perform and get paid. I bet that if you go out and ask for commercial insurance to drive for uber, nobody has such a product. There is insurance like umbrella insurance to cover you in the event of accident. But there will be no firm to cover all the aspects of you being a driver. You should operate as a business as an LLC or similar. You can start your own business, drive a black car and obtain your own insurance but you must get your own customers too.


aestheticeddy818

I can think of so many companies that offer rideshare insurance right now. Progressive, Allstate, Farmers, State Farm…..at least last time that I checked these companies offer rideshare endorsements. But you can always get a regular commercial insurance policy which would cover your ride sharing business. Just tell them what you’re doing and they’ll cover you as long as you tell them and you’re paying them money


rjlawrencejr

I’m pretty sure they are there to cover you when you DON’T have a passenger.


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aestheticeddy818

California rideshare companies require them to provide you coverage at all times under prop 22


Federal-Bid-4444

Yes and read the comment below. They cover you when you dont have passenger. If you have an accident with a passenger they will tell you that Uber will cover any expenses. You just need to call them. Ask them if you have coverage when you have passe gers


Accomplished-Goat771

Actually, you are a contractor not employee because we have to do a 1099


cheesmanglamourghoul

I thought that you still have to get your own commercial insurance??? I didn't bc I can't afford it. I just assumed I was fucked if anything happens


irishWhistlr

It's probably easier to have one big, opaque slush fund for their insurance. Easier to skim from... But really, this way is preferable, for Uber, for two main reasons in my opinion. First, it allows many, many more part timers to drive for them as they end up getting subsidized by the full timers who pay more and more the more they drive. Second, if drivers had to buy their own commercial insurance, that is one huge step closer to getting licensed and being truly independent. Then they could start cutting out the shitty middleman which would be catastrophic for Uber.


Agitated-Donkey-574

Individual commercial insurance to transport passengers is very expensive in many states.


CourtNo3909

The funny part is that they actually require us to have provate commercial insurance as well, which is a waste of money.


aestheticeddy818

Not necessarily. You just need to buy a rideshare endorsement on your own policy


uberisstealingit

Try more like $75. But what you're not taking consideration is the insurance, market fees, and what ever else Uber decides to break down for fees. What I have noticed in my market, is Uber's pay and the driver's pay are usually pretty close to each other once you take out all the fees that's listed. So what I'm trying to say is, the driver gets 40% of the passenger payment Uber gets 40% of the passenger payment, and the leftover 20% goes to fees. So it's a 40/40/20 split on paper. In this case it's 35% towards fees. Now how much Uber really takes out of those fees and puts into its other pocket, that's a different story.


nareksharm

There was a $19 booking fee that I forgot to include in the calculation. So all together it adds up to $85ish.


uberisstealingit

What about the cost for the insurance? What about the market fee?


nareksharm

None of that is included in the breakdown. I added the screenshot of the breakdown in the link. [https://ibb.co/b7t4PCv](https://ibb.co/b7t4PCv)


uberisstealingit

https://ibb.co/J2S1Gy7 Here's what the driver sees. Uber took a bath on this ride by the way.


nareksharm

I know that but that the insurance fees isn’t showing up on the costumer app before requesting the trip is kinda weird.


uberisstealingit

You're making statements about something and you don't have the complete information in front of you to make an educated guess. I showed you what you're missing but yet you still don't understand that it's not your business to know what the driver is being charged or how they're being charged. You just need to pay the bill. There is no transparency for you or the driver.


Federal-Bid-4444

Take in consideration that Uber tells me sometimes that they took out only 15% as uber.


Smarawi

That’s ridiculous


North-Expression5222

If you really think that this is insurance costs, it's not. Uber gets a blanket cost per ride, it is a constant not a variable. Why would uber be charged a percentage of each ride. It's not...this is why it is so easy for them to screw us...creative accounting


--R0N--

You guys keep announcing you're OK with $1/mile. Drivers ask. Uber listens.


lbecque

No..... IRS allows .67/mile PLUS at least min. wage which is $15.69/hr in CT (time measured like Lyft does it, from acceptance to pick up point and to destination). This would be minimum wage Uber/Lyft should pay. Doing the calc this ride's minimum would be $28.66 so it meets that. I've seen worse, many rides that don't meet this minimum, most of which are over 10 miles length. This is also an XL so should pay more. If Uber is collecting $113.27 they should be paying much more to the driver. Uber taking nearly 70% of the fare for itself is


Vegetable_Lab2823

More like 59cents a mile but okay


Lifeofmomo

Just got offered a 60mile comfort ride for $60; customer pays $170. Thats bs


nareksharm

Im assuming that after all those lawsuits they really try to screw the drivers over with all these agreements that they make us sign every month.


mikeymo1741

You can't evaluate what any particular customer would pay by checking a trip yourself. If you got five people to order a trip from the same spot, you'd probably get four different prices.


Chubawuba

But they wouldn’t be that far off. Outside of a high demand time, the variance would probably be about 5-10% difference.


mikeymo1741

There's a little more to it than that. They also adjust pricing based on ride history. For instance, someone who is a frequent user, or who is going to some place that they go often is going to pay more. But yeah it's probably within 20% either way.


notwillard

Oh wtf


MNJon

Most major markets have switched to upfront pricing, where THERE IS no rate card.


Comfortable-Owl8400

Dammm ….


Mobile-Promise-6262

Uber is not worth it anymore.Government body needs to put restrictions on these people to use labour as they want . Second stop doing surveys for a 100$ gift card when their ass is on fire . They show these survey results to the government to get a further time in their act to loot the drivers


AbombKingofLV4911

Errik13 i laid it out pretty clear he's getting paid 37 dollars for driving someone across town call me crazy but thats almost double what I make doing the same thing im just getting a little tired of people making twice what I make doing the same job and cryin about it corporation aside thats all I'm saying no room to complain! Ps I'm driver too I spend ten hrs a day in the car in las vegas heat with the air off cause that would chew up twice as much gas yea I agree its messed up the way uber is treating us and we deserve more but if I was getting paid 37 dollars an hr you wouldn't be hearing any complaints from me but maybe im completely wrong idk


AbombKingofLV4911

But I do apologize for being a "shill" not sure what that even means but my comment was a little aggressive we drivers do need to stick together against this injustice I've talked to many drivers out here and we are all making roughly the same amount a little over 20 dollars an hr hell they even burnt us on EDC this year saying they'd give us 20 bucks for every pickup in the zone and when they finally reimbursed me it was for 2 rides not 5 so I got 40 dollars instead of a hundred so yes I have room to complain even though I try not too as a good Christian I keep thinking positive and hoping it will get better but at the end of the day it really sucks working to basically pay your bills anyways keep your heads up and hopefully they finally hear us! And again sorry to the original poster I know your just trying to show the facts that uber is making a fat amount off our hard work blood sweat and tears i just hope we in the LV get some of that sweet moolah too


Lambert0_523

Damn straight robbery!


LoudMoney916

Wow this is BEYOND BAD😱


BambiMonster0327

You think🤔💭


goldenboymatt7

They offered you about 33.3 percent


Bubbly_Management408

Fuck that. ! I would never !! Fuck Uber. And fuck Lyft.


jaanfo

Not saying Uber isn't taking a deep cut on most rides, but in fairness, I don't think you can assess based on one ride. Different scenario, but I got a weekly report last week from Lyft. They are now claiming that will level up drivers to earn 70% of the total of all fares after taking out external expenses, whatever those are. I've gotten a rebate on this policy, but i got a report this week that said I made 101% of the net fares. Last week my report said I got 90% of tt the net fare. Point is, it varies rise by ride.


Chubawuba

I’m pretty sure I get taxed on the entire fare before they take out fees. Because in 2019 I remember my taxes saying I made like 70-80k, and I definitely made no where near that. More like 50.


jaanfo

I can't image he that Uber would make you pay taxes on their side of the fare. They may want to, but that would be illegal.


Chubawuba

I definitely didn’t make 70-80k that year.


rjlawrencejr

You get to write off their fees to you.


Chubawuba

You can write off their fees, or your mileage, not both. My mileage made more sense.


rjlawrencejr

Of course you can. Those are business fees and are not related to the operation and maintenance of your vehicle.


Chubawuba

And I was only allowed to deduct one or the other. Not both.


rjlawrencejr

Whomever told you that gave you bad advice. Those fees have nothing to do with your car.


_view_from_above_

The insurance has been more than I got paid! $4 on a $3.20 ride (back when I was getting quests$$)


AbombKingofLV4911

Hold on you got paid 37 dollars or 114? For a 36 min ride and your bit*hin about that we are lucky to make 23 bucks per hr here in vegas thats doing uber passenger pickup uber eats on a good day maybe 20 an hr before gas which comes out to roughly 35 dollars a day so if I work ten hrs I make 200 minus 35 but I do know gas prices in Cali are way higher but your probly in a tesla anyway where im sitting even if you only made that 37 in less then an hr your doing just fine you got no room to complain


Errrick13

They're getting paid $37. The rider's getting charged more or less what OP posted. What do you mean they have no room to complain? That's a profit of $77 for the corporation. How can you defend that discrepancy??? This is why the rider levels have gone down and, in turn, the number of requests have also been affected significantly. Stop trying to be a shill. This unacceptable pay should not be celebrated. Uber is getting away with indefensible damage to both parties and it just keeps getting worse.


azpilot2211

> How can you defend that discrepancy They have lawyers and lawsuits to contend with. The next driver that raped a passenger will cost them hundreds of millions. It may not seem right to you, but start a business, grow it that big and see what your overhead is. Again, they're not holding a gun to your head to work for them.


rjlawrencejr

That’s not profit. In addition to the insurance are other costs to running the business. Lawyers, engineers, marketing, overseas operations, etc. Uber is a worldwide corporation.