The state’s riders now have the added option that Voom has included in their available products
Riders in Florida have an additional motorcycle insurance option from which to choose for meeting their coverage needs as Voom Insurance recently announced that it was bringing its pay-per-mile policies to the state.
This makes the insurer the only one in Florida selling this type of product
Usage-based coverage is available within the state’s automotive market, but this option has been focused entirely on larger vehicles such as cars, SUVs and trucks. The new product rollout has now made sure that motorcycle insurance is also included in the use of this type of model.
Now that usage-based coverage is available to riders in Florida, this policy format is now available to over 60 percent of US motorcyclists, according to the insurer.
Many motorists have come to like using pay-per-mile coverage for their conventional auto policies because it offers them the opportunity to save money as they demonstrate that they are a low risk by driving safely, infrequently, and/or with low mileage.
Some riders can save up to 60 percent off motorcycle insurance
According to the company’s own calculations, some motorcyclists will be able to use the new pay-per-mile policy to save as much as 60 percent when compared to some conventional forms of coverage.
That will particularly apply to riders with a good riding record, who practice safe habits on the road, and who have low mileage. The goal is to help low-risk riders like that in being able to save money.
Riders who save the most
Voom recently conducted a survey of riders in which it was determined that over 70 percent rode their bikes 2000 miles per year or less. When those riders have a good driving history and technically aren’t on the road very much every year, paying as much as another rider who heads out across long distances or uses the vehicle as a main method of transportation year-round could mean an overpayment when compared to premiums more closely reflecting vehicle use.
“Launching our Pay-Per-Mile Motorcycle Insurance in Florida is a significant milestone for us,” said Voom co-founder and CEO Tomer Kashi. “It signifies a vital step towards expanding Voom nationwide to facilitate savings for an increasing number of riders, and we are only at the beginning.”
