Ford helping drive change in car insurance pricing
Reprints
Ford Motor Co. has long claimed its cars are “built for the road ahead.”
With the road ahead translating into less driving for Americans during the COVID-19 pandemic, the automaker appears to be standing by its claim by partnering with an insurance company that will use Ford pre-installed devices to allow drivers to sign up for pay-per-mile insurance.
Ford is making Metromile Inc.’s pay-per-mile insurance offering available in new cars, with pre-installed technology designed to lower the price of auto insurance for those who drive less. The initiative was announced this week.
Metromile CEO Dan Preston called this the “first partnership of its kind for the company” and he expects other car manufacturers to follow Ford’s lead.
Commentary by CNBC says the move comes after criticism of the automobile insurance industry for not lowering premiums enough during the shutdown.
More insurance news on the coronavirus crisis here.
