GEICO launches ridesharing product in Virginia
FREDERICKSBURG, Va., Feb. 4, 2015 – GEICO has rolled out a new product to meet the insurance coverage needs of ridesharing drivers in Virginia. The product, available now to new and existing customers, covers drivers that Uber (UberX and UberXL), Lyft, Sidecar and others have approved to drive for them.
GEICO's ridesharing product replaces the driver's personal auto policy and provides coverage both for personal and ridesharing use. GEICO will offer the product through GEICO Commercial at a price significantly lower than taxi and commercial rates.
"GEICO is excited to offer this new product to Virginia drivers," said Nancy Pierce, GEICO regional vice president. "This product will offer ridesharing drivers a complete solution so they will never have to worry about how to report a claim, and if they chose the coverage, whether their car will be fixed and whether they'll have medical coverage. Not only does the product provide full coverage at an affordable price, but also peace of mind."
"We have spent a lot of time understanding the needs of ridesharing drivers," said Othello Powell, director of GEICO commercial lines. "What we developed is a hassle-free product that covers both personal use and ridesharing use. The insurance applies whether or not the app is on and whether or not you have a passenger. The coverage is also not limited to just one transportation network company."
GEICO (Government Employees Insurance Company) is a member of the Berkshire Hathaway family of companies and is the second-largest private passenger auto insurance company in the United States. GEICO, which was founded in 1936, provides millions of auto insurance quotes to U.S. drivers annually. The company is pleased to serve more than 14 million private passenger customers and insures more than 23 million vehicles (auto & cycle).
Using GEICO's online service center, policyholders can purchase policies, make policy changes, report claims and print insurance ID cards. Policyholders can also connect to GEICO through the GEICO App, reach a representative over the phone or visit a GEICO local agent.
GEICO also provides insurance quotes on motorcycles, all-terrain vehicles (ATVs), boats, travel trailers and motorhomes (RVs). Coverage for life, homes and apartments is written by non-affiliated insurance companies and is secured through the GEICO Insurance Agency. Commercial auto insurance and personal umbrella protection are also available.
For more information, go to www.geico.com.