When driving for a living, it ’ s imperative mood that you ’ re always prepared to handle the “ what if something goes ill-timed ” situations, particularly if it ’ s your support and safety at interest. Regardless of whether you work part prison term or wax time for Uber, you should consider signing up for rideshare policy .
many personal car policy companies DO NOT provide property damage liability coverage or early insurance coverage for damages incurred in an accident while driving for Uber. With some indemnity providers, you even stand the risk of losing your car policy if you don ’ deoxythymidine monophosphate disclose your gig as a rideshare driver to them.
If you have already started your search for the best policy policy, you ’ ve likely come across one of the largest players in the game : Geico .
Since 1936, Geico has built their ship’s company into a global post, and is known for low-cost coverage for reasonably much anything you ’ ll motivation to insure. So it makes sense that when rideshare drivers needed indemnity, Geico stepped in to help .
But one of the most crucial questions for rideshare drivers to ask themselves when considering this company is :
“ Does Geico offer gap insurance ? ”
Let ’ s take a front .
Does Geico Offer Gap Insurance?
As a Rideshare driver, generally, you most probably face a “ opening ” in coverage between your personal car indemnity and driving for business. This means that any damage resulting from an accident that occurred during the time period when your rideshare app is switched on, even if you don ’ t have a passenger inside the cable car, won ’ thymine be covered by your personal car policy. You will end up having to cover the fully expenses out of pocket .
Geico does not offer gap policy for Uber and Lyft drivers. however, they do offer their own “ hybrid ” car policy which offers security to rideshare drivers .
Marketed as “ the low-cost option that covers your fomite for personal use, rideshare, and other on-demand services, ” Geico ’ s rideshare insurance policy covers drivers through a broad variety of activities and periods .
How It Works
Geico ’ second rideshare policy policy for rideshare drivers is a substitute for a personal vehicle policy. It provides both personal and rideshare coverage to the drivers. Regardless of whether or not you are logged into the rideshare app, have a passenger, or barely are going out on your own, this policy will make sure you are covered .
Unlike early rideshare insurance policies that sometimes have limited coverage, this type of policy spans many different driver activities, whether personal or not. You don ’ t have to stress over who you are covered by every time you are about to drive. And you are not just limited to drive for one transportation system network company ( TNC ) .
rather than building a policy to address only the “ Insurance Gap, ” Geico built a robust and compromising policy to offer more to drivers .
This policy is flexible, low-cost, and falls in credit line with the convenient, great policy options Geico customers have come to love .
Related: 3 Things Every Driver Should Know About Rideshare Insurance
Where Is Geico rideshare Insurance Available?
Geico is working around the clock to expand their hybrid coverage policy to as many states as possible. It ’ sulfur presently available in the follow states :
How Much Does Geico rideshare Insurance Cost?
According to popular indemnity web site Nerdwallet, a hybrid policy for Uber drivers through Geico costs around $ 150 per year. Taking a look at their comment section indicates it may be a morsel more :
“ This chart is bacillus nerdwallet. geico personal coverage for me is $ 886/year, ride-sharing is $ 2252/year. ”
“ Just purchased a car to use for rideshare. Geico insists on commercial insurance $ 4038/year. not felicitous. ”
Every case is unlike, and not all will apply to you specifically. The best way to check Geico rideshare indemnity costs in your area is to telephone your local agent, or ( 866 ) 509-9444, and necessitate .
Or, visit Geico ’ mho rideshare indemnity page. Fill out your basic information like your name and the rideshare companies you work for, and they will give you a quick quote on-line .
Does a Geico rideshare Insurance Policy Replace My Personal Policy?
According to the official FAQ page :
“ Our rideshare policy policy is a hybrid policy and will replace your existing personal car policy. Once you purchase our policy, you no longer need your personal car policy .
“ Note: If you have multiple vehicles, you will need to continue personal car policy on the vehicles not used for rideshare. ”
The Downsides to Geico’s Gap Insurance Alternative
When talking about indemnity policies, we need to besides address the downsides .
- There is a restriction on the number of miles you can drive, which should be okay if you are a part-time driver. For full-time drivers, however, a standard commercial auto policy might be better suited.
- There is a restriction on the type of vehicle. They do not cover buses, large vans, or other high occupancy vehicles.
- If the policy isn’t offered in your state, you may have to opt for a more expensive commercial auto policy.
- The Geico rideshare policy only covers personal vehicles that are used to drive for companies like Uber, Lyft, Amazon Flex, etc. This means that taxis, limos, and other rented vehicles won’t be covered.
I won ’ t go into a lot of detail about all of these, as they relate to each driver differently for each state of matter. If you ’ re getting a quote, ask your Geico insurance agentive role about how these will apply to you .
Geico rideshare Insurance FAQ
What is rideshare insurance?
rideshare policy adds an excess layer of auspices for Uber and Lyft drivers when waiting for, traveling to, or transporting riders .
There are many types of policies available, but a Geico rideshare insurance policy will replace a driver ’ s personal car policy wholly, and provide coverage when the driver is on and off the clock .
Can I drive for Uber with Geico Insurance?
Yes, you can drive for Uber with Geico indemnity .
Most other policy companies strictly forbid “ drive for rent ” activities like driving for Uber, but Geico ’ s hybrid insurance policy provides coverage while rideshare driving. You are not limited to fair Uber. You can drive for multiple rideshare companies at the lapp meter and still be covered .
Which car insurance companies cover Uber?
There are quite a few different companies that cover Uber drivers, and eligible coverage depends on which country you live in. The most popular indemnity companies that cover Uber include :
- Erie Insurance
- State Farm
Who does Geico’s rideshare Insurance cover?
Along with you, this policy will cover any other family member in your family american samoa long as they are driving the vehicle that ’ s registered on the policy .
For drivers asking, “ Does Geico offer col insurance, ” the answer is no. however, what they do volunteer is a comprehensive policy that covers drivers not lone when rideshare, but besides in many other areas, including personal drive.
My think is that if you ’ re going to pay for an car insurance policy designed for rideshare driving entirely, it should be cheap. however, if the caller you choose marks these policies up a lot, then the policy coverage should expand into early areas, just like Geico has done with this policy .
If you ’ rhenium shopping around for rideshare policy, a Geico policy is decidedly worth a expression. If you already have Geico car insurance, then the policy is an even more compelling option. We suggest speaking to a local Geico agent for indemnity information relevant to your department of state and personal situation .
Do you have a Geico rideshare Insurance policy? What did you pay for yours? Would you recommend it to other drivers? Let us know in the comments below!