GEICO introduces ridesharing insurance product to D.C. drivers
WASHINGTON, D.C., April 08, 2016 – Following successful launches in Virginia and Maryland, GEICO now offers its new low-cost ridesharing product to Washington, D.C. Now available in 16 states, GEICO's ridesharing product provides comprehensive coverage for Uber, Lyft, Split and other on-demand service drivers operating throughout the Greater Washington Metropolitan area.
"The rapid growth of ridesharing services in the D.C. area has vastly changed the way people commute and travel," said Othello Powell, GEICO director of commercial lines. "GEICO's ridesharing product delivers an affordable solution in one of the nation's most bustling on-demand transportation scenes."
While most personal auto policies excludes any commercial (driver for hire) use, GEICO's ridesharing coverage replaces the driver's personal auto policy and provides coverage for both personal and ridesharing use, regardless if the driver is logged into the transportation network company's app.
Powell added that coverage limitations in most policies do not meet the needs of on-demand service drivers.
"We've heard feedback from service drivers and they are excited to learn that our policy allows them to drive for multiple companies," said Powell. "Most policies limit coverage options to one specific transportation network company and only covers a portion of the trip. GEICO's ridesharing product answers a direct need for entrepreneurs looking to earn additional income."
GEICO offers the product through their Commercial division at a price similar to personal auto insurance. In addition to Maryland, Virginia and Washington, D.C., GEICO also offers its ridesharing product to drivers in Connecticut, Georgia, Illinois, Louisiana, Nebraska, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas and West Virginia.
For more information, visit www.geico.com/getaquote/ridesharing.
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.
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