If your use of the app leads to a legal claim against Waze — for example, from content you submitted — you could be personally liable for Waze's legal fees and damages.
Using Waze grants the company a broad, irrevocable license to your location data, driving patterns, and any content you submit, which Waze may use for commercial purposes including advertising. US users are subject to mandatory binding arbitration and waive the right to participate in class action lawsuits unless they opt out. You can opt out of the arbitration clause by sending written notice to Waze within 30 days of first using the service.