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A while back, we told you about a new insurance service offering pay-by-mile coverage. Under VOOM’s plan, after paying a basic service fee, you’d be only paying for the actual miles you rode on your bike, taking a photo of the odometer monthly so your bill could be pro-rated. See an explanation below:
VOOM was initially available in limited areas of the US, but it’s spreading now. The company says it’s about to open for business in Texas, Tennessee and Missouri, with Minnesota, Florida and Georgia to follow. Press release below:
Riders in Texas, Tennessee & Missouri are able to save more than ever before on motorcycle insurance by switching to Pay-Per-Mile
Palo Alto, CA (January 17th, 2023) – VOOM Insurance, the only pay-per-mile motorcycle insurance provider, is expanding its innovative offering to motorcyclists in three additional states: Texas, Tennessee and Missouri.
Motorcycle owners in these states who ride less than 2,000 miles a year, per bike, such as weekend warriors, occasional riders, and multiple motorcycle owners, can save up to 60% compared to traditional motorcycle insurance plans, starting as low as $50 per year. In an age of inflation, VOOM aims to help riders keep more money in their pockets.
“Our team is excited to be able to introduce our product to the Lone Star state, one of the most populated motorcycle markets in the country, as well as in Tennessee and Missouri. As we currently operate in 10 states, this new expansion allows us to expand our reach among riders and cover almost 30% of the US motorcyclists population. Tomer Kashi, VOOM CO-Founder & CEO, said, “We are working diligently to take VOOM nationwide to allow riders to save more, without compromising on their coverage level.”
“We surveyed hundreds of riders and found that 70% ride 2,000 miles a year or less. The results of this study are correlated to the findings of the recent behavioral safety research done by the NHSA. These riders are actually overpaying to cover the risks of a few lucky riders who ride more often”. Said Ori Blumental, VOOM CO-founder & CTO.
VOOM offers a non-intrusive alternative to the status quo – riders report their mileage by sending in a picture of their odometer, with no tracking or hardware required. The bike is covered, even when someone doesn’t ride any miles for a particular month. The service is currently available in 10 states in the United States, including Arizona, Indiana, Ohio, Illinois, Iowa, Wisconsin, Oklahoma, Missouri, Texas, Tennessee and soon in additional states like Minnesota, Florida & Georgia.
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