Lilah Butler, Car Insurance Writer
@lilah_c
No, GEICO does not offer rideshare insurance. If you are a current GEICO customer and want rideshare coverage, you can purchase a separate commercial policy, or you can switch to a company that offers rideshare insurance.
Unlike GEICO, insurers such as State Farm and Allstate offer rideshare insurance endorsements that you can add to a personal car insurance policy. Then, if you stop driving with a rideshare company, you can simply cancel the endorsement. Rideshare endorsements are an inexpensive way to supplement the coverage offered by Uber and Lyft, typically increasing a driver's premium by about 15% - 20%.
Rideshare insurance is not available in every state, though. In states where rideshare insurance is not available, drivers should consider a commercial policy instead. Drivers who need rideshare coverage but want to get their personal coverage from GEICO can also take advantage of commercial policy options. The downside is that commercial policies are more expensive, averaging $1,200 to $2,400 annually.
People also ask
How much does rideshare insurance cost?
For customers with a personal auto policy, the additional costs quoted by companies like Farmers and Erie for rideshare insurance are usually from $6 to $25 per month. Allstate offers its rideshare coverage for only $15 to $20 per year.
Rideshare insurance costs less than many drivers would think, making it well worth the price. However, prices vary and it’s important to look carefully at what each company covers. Costs often vary because companies...
read full answer by Merrill Burchell, Car Insurance WriterAre GEICO insurance rates competitive?
Yes, GEICO insurance rates are competitive, as the company is one of the 10 cheapest auto insurers nationally, according to WalletHub analysis. GEICO car insurance customers pay an average of $462 per year for coverage. GEICO's car insurance rates are based on your driving record and experience, along with factors like the type of car you drive, your ZIP code, your insurance history, and more. Your coverage and deductible choices also impact your final quote,...
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Commercial auto insurance for Uber drivers can cost $1,200 to $2,400 or more per year. A cheaper alternative is rideshare insurance, for $10 to $350 per year, depending on your location and insurer. Rideshare coverage is a specialized kind of insurance that bridges the gap between your personal auto policy and the coverage that Uber and other rideshare companies provide for drivers.
Your personal auto insurance is unlikely to cover accidents you’re involved in...
read full answer by Merrill Burchell, Car Insurance WriterDid we answer your question?
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