GEICO debuts ridesharing product in Maryland
CHEVY CHASE, Md., March 19, 2015 – After a successful launch in Virginia, GEICO is now offering its innovative ridesharing product to drivers in Maryland. Drivers that have been approved to drive for Uber (UberX and UberXL), Lyft, Sidecar and other services in Maryland can now get the insurance coverage they need through GEICO.
The product, which replaces the driver's personal auto policy, provides coverage both for personal and ridesharing use, and drivers are not limited to just one transportation network company. GEICO offers ridesharing coverage through GEICO Commercial at a price significantly lower than taxi and commercial rates.
Feedback on the price from customers in Virginia has been overwhelmingly positive, said Nancy Pierce GEICO regional vice president. "We're excited to expand our ridesharing offering to Maryland to meet the needs of even more customers who are looking for a complete insurance solution," Pierce said. "Our ridesharing customers in Virginia have been very pleased with the low rates and the same outstanding service from GEICO they have come to expect."
"A shared economy provides many innovative ways to generate income, ridesharing being just one," said Othello Powell, director of GEICO commercial lines. "Traditional insurance policies may not adequately cover some of these new ventures. We created this product with the intent of building something affordable that would cover your vehicle for personal use, ridesharing and other on-demand services. The response from consumers has been very positive and has encouraged us to continue expanding this product to many more states."
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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