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), the second-largest auto insurer in the U.S., was founded in 1936 and insures more than 27 million vehicles.
To make changes, report claims, print insurance cards and purchase additional products, policyholders can log into their car insurance policy, connect via GEICO Mobile, phone or by visiting a GEICO local agent.
Homeowners, renters, condo, flood, identity theft and life coverages are written through non-affiliated insurance companies and are secured through the GEICO Insurance Agency, Inc. Commercial auto and personal umbrella coverages are also available.
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