GEICO announced Tuesday that the company is expanding its ridesharing insurance product offering to drivers in Connecticut. GEICO has rolled out its ridesharing product in Georgia, Virginia, Maryland, Texas and Pennsylvania earlier this year.
GEICO said new and existing drivers that have been approved to drive for Uber (UberX and UberXL), Lyft, Sidecar and other services in Connecticut can now get the insurance coverage through GEICO.
“Being close to New York City makes Connecticut a key market for rideshare drivers,” said Rick Hoagland, GEICO regional vice president. He said GEICO’s ridesharing product delivers end-to-end coverage for personal and ridesharing use and eliminates coverage gaps for rideshare drivers.
“We continue to see a remarkable demand for our product,” said Othello Powell, director of GEICO commercial lines. “Our policyholders appreciate comprehensive coverage and peace of mind, and now rideshare drivers can have both with this new policy.”
GEICO said its ridesharing product replaces the driver’s personal auto policy and provides coverage regardless of whether the driver is logged into the transportation network company’s app. GEICO said the product is available through GEICO Commercial at a price lower than taxi and commercial rates.
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 U.S. GEICO, which was founded in 1936, serves more than 13 million private passenger customers, insuring more than 22 million vehicles (auto & cycle).
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