Yes, Geico offers rideshare insurance. Geico rideshare insurance is available as part of a hybrid policy that covers both rideshare driving and non-business driving, replacing your personal car insurance policy. A Geico rideshare policy typically costs only slightly more than a personal-use policy, and it provides more coverage and a lower deductible than the insurance offered by Uber and Lyft.
Geico Rideshare Insurance Coverage
Deductible gap coverage, so you can choose your own Geico deductible rather than paying Lyft’s or Uber’s
Coverage for damage to your car, medical expenses, liability, and more while the app is on but before you accept a ride request
Comprehensive, collision, liability, and more (depending on the coverage you purchase with your policy) once you have accepted a ride request
Rideshare insurance varies by state, so check with Geico to see if their rideshare coverage is available in your location. It’s also worth noting that Geico rideshare insurance excludes large buses, vans, and limousines.
Other Key Things to Know About Rideshare Insurance
In general, rideshare policies are important because the coverage provided by Lyft and Uber varies depending on where the driver is in the process of a ride. When a driver is online and waiting for a ride request, Uber and Lyft provide liability-only insurance.
Once the driver has accepted a ride request, Uber and Lyft provide up to $1 million in liability insurance, plus any other type of coverage required in the state. Both companies also provide collision and comprehensive insurance during this period, but only for drivers who have these types of coverage on their personal policy. However, Uber’s deductible is $1,000 and Lyft’s is $2,500. These are significantly more expensive than the average car insurance deductible of $500.
For more information, check out WalletHub’s complete guide to rideshare insurance.
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