As motorcycle enthusiasts, we’re always looking for ways to save money and make the most of our riding experience. One innovative solution that has recently gained traction is pay-per-mile motorcycle insurance.
This revolutionary approach to coverage allows riders to pay for their motorcycle insurance based on the actual miles they ride, potentially saving them up to 60% compared to traditional insurance plans. VOOM Insurance, a leading InsurTech company, has just expanded its pay-per-mile coverage to include Colorado, also offering insurance for ATVs, UTVs, and snowmobiles for the first time in the state.
Pay-per-mile insurance provides a more flexible and potentially cost-effective solution for riders, especially those who don’t ride their motorcycles or off-road vehicles every day. Instead of paying a fixed premium, policyholders are charged based on their actual usage, which can result in significant motorcycle insurance savings for low-mileage riders.
Currently available in 11 states, including Arizona, Indiana, Ohio, Illinois, Iowa, Wisconsin, Tennessee, Missouri, Oklahoma, Texas, and now Colorado, VOOM Insurance plans to expand its offerings to additional states in the near future. The company’s co-founder and CEO, Tomer Kashi, expressed enthusiasm for the expansion: “Our team is thrilled that we are able to introduce the first pay-per-mile insurance for off-road vehicles, now available in Colorado and soon in more states. We are working diligently on taking VOOM nationwide to allow savings for an increasing number of riders.”
VOOM’s approach to tracking mileage is non-intrusive, requiring riders to simply send in a picture of their odometer to report their miles. There’s no need for additional tracking devices or hardware, and vehicles remain covered even during months with no miles ridden.
VOOM Insurance has its roots in the drone industry, having been founded in 2017 as SkyWatch. The company has since evolved into a leading InsurTech platform, offering usage-based insurance products for underserved mobility segments such as motorcycles, e-scooters, and light aircraft. VOOM is a licensed insurance broker in all 50 US states, with motorcycle insurance policies underwritten by Markel Corporation.
Pay-per-mile insurance has the potential to revolutionize the motorcycle insurance industry, providing riders with a more affordable and customizable coverage option. To learn more about VOOM Insurance, visit voominsurance.com.