GEICO said it is now selling its ridesharing coverage in 10 more states, beyond the 24 states and the District of Columbia where it has already been on sale.
The new states added to the sales map: Alabama, Idaho, Kansas, Delaware, Maine, Tennessee, Wisconsin, Minnesota, Missouri and North Dakota. Ultimately, GEICO wants to sell ridesharing insurance in all 50 states.
GEICO’s ridesharing insurance product rolled onto the market last year to meet 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.
GEICO’s ridesharing product is offered through the company’s Commercial division at a price that can be lower than taxi and commercial rates.
GEICO 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 serves more than 14 million private passenger customers, insuring more than 23 million vehicles (auto & cycle).
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.
Other insurers exploring or expanding in ridesharing space include Farmers Insurance, USAA and Farmers.
Source: GEICO