WASHINGTON--(BUSINESS WIRE)--To meet the growing consumer appetite for Uber, Lyft, Split and other on-demand services, GEICO has just introduced its low-cost ridesharing product to 10 more states (Alabama, Idaho, Kansas, Delaware, Maine, Tennessee, Wisconsin, Minnesota, Missouri and North Dakota), in addition to the product being offered in 24 states and the District of Columbia.
"The growing demand for ridesharing services is rapidly reshaping the country's transportation landscape," said Othello Powell, GEICO's director of commercial lines. "As more and more consumers latch on to its popularity, we will continue to offer on-demand drivers the best insurance product at the lowest price to address their needs."
Not long ago, rideshare drivers didn’t have many options when it came to auto insurance. Most policies only covered the portion of the trip that drivers were signed in to a ridesharing app and offered limited coverage options to one specific transportation network company.
GEICO’s ridesharing insurance product rolled onto the market last year as a game-changer, answering the specific insurance needs of on-demand drivers. GEICO combined the coverage options of two separate policies into a single policy, eliminating the coverage gap between ridesharing and personal use whether or not if the driver is logged into the transportation network company's app. GEICO also offers drivers the flexibility to work with multiple transportation network companies.
Powell noted that GEICO is constantly looking at ways to keep pace with the evolving nature of ridesharing services. "It makes a world of difference when we receive positive feedback from drivers who say GEICO is listening and responding to their needs."
GEICO's ridesharing product is now offered through the company's Commercial division at a price typically much lower than taxi and commercial rates. More details about GEICO’s ridesharing product can be found at www.geico.com/ridesharing-insurance.
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, insuring 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, Inc. Commercial auto insurance and personal umbrella protection are also available.
For more information, go to www.geico.com.
