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) 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.