WASHINGTON--(BUSINESS WIRE)--Washington is the latest state to offer GEICO's low-cost ridesharing insurance coverage for drivers of transportation network companies. The product is a one-of-a-kind rideshare solution in the Pacific Northwest, delivering comprehensive coverage to Uber, Lyft, and other on-demand service drivers.
"Not long ago, rideshare drivers were operating in a potentially dangerous gray legal area with limited auto insurance options," said Othello Powell, GEICO's director of commercial lines. "GEICO's product eliminated this confusion by bridging the coverage gap for all phases of ridesharing into one policy."
Most insurance policies exclude any commercial (driver for hire) use, limit drivers to one specific transportation network company and only provide coverage while the ridesharing app is on. GEICO’s ridesharing and on-demand delivery policy covers your vehicle for personal use, ridesharing and other on-demand delivery services and allows drivers flexibility to drive for multiple transportation network companies.
“The limitations of most policies means that they do not meet the needs of on-demand service drivers," said Powell. "We wanted to offer an innovative solution for our customers who drive for transportation network companies and on-demand delivery services at the most competitive price."
GEICO offers the product through its Commercial division at prices competitive with personal auto insurance. GEICO's ridesharing product is now offered in 35 states and the District of Columbia.
For more information, visit www.geicorideshare.com.
