Trade Resources Company News Pay-Per-Mile Insurance Is Introduced

Pay-Per-Mile Insurance Is Introduced

Today, Metromile and Uber announced an innovative partnership to provide variably-priced, pay-per-mile auto insurance for drivers who use Uber's rideshare platform. The two companies have jointly developed the first technology solution that enables pay-per-mile, personal insurance coverage that complements Uber's $1 million commercial liability and ensures continuous seamless insurance coverage for Uber driver partners.

Metromile has revolutionized car insurance with its pay-per-mile model, saving customers money by charging them based on the number of miles they drive. Uber driver partners will plug Metromile's Metronome device into the On-board Diagnostic Port (OBD-II port) of the car located under the dash. Now, by integrating its platform with Uber, Metromile can distinguish the miles that Uber driver partners drive on a ridesharing trip (from accepting a trip to when the passenger safely exits the vehicle), when they are covered by $1 Million in primary commercial auto liability coverage from Uber. As a result, Uber driver partners are covered during the times they are driving for personal reasons and when they are waiting to receive requests from riders; driver partners would only be charged for the miles they drive during these periods.

"Metromile has created an innovative product that responds to the needs of the insurance marketplace. Driver partners using Uber's TNC platform will soon have a new flexible insurance option that is designed specifically for their needs," saidAndrew Macdonald, Uber's Regional General Manager.

"We are proud to offer a unique solution to the growing issue of how TNC drivers insure themselves, whether driving for personal use or with Uber," said Dan Preston, Metromile CEO. "With Metromile, not only do driver partners have access to a personal insurance product that acknowledges their TNC use, but they may also save money on their personal insurance."

Driver partners will also enjoy the variety of services and features Metromile provides to all of its users including commute optimization, fuel insights, engine diagnostics, and access to on-staff Metromile mechanics. Drivers in San Francisco and Chicago can also receive notifications to help them avoid costly street sweeping tickets; additional city rollouts for this feature are on the horizon.

Metromile will begin offering the insurance product to Uber driver partners in California, Illinois, andWashington in February 2015*. Both Uber and Metromile commend the Departments of Insurance in these three states for their support in bringing these innovative solutions to the marketplace.

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Metromile and Uber to Launch Pay-Per-Mile Insurance for Drivers
Topics: Auto Parts