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Ford claims pay-per-mile car insurance saves £300 a year

Ford has partnered with pay-per-mile insurance provider By Miles to reduce the cost of car insurance for ad-hoc car users.

Rather than basing its premium on a projected mileage figure, By Miles charges based on the actual distance covered by a motorist, with the data coming from the car’s in-built FordPass Connect modem.

Ford cited research from financial review website Finder that said 51 percent of motorists could save £297 a year on insurance if they use By Miles. It added that a policy is activated once the driver accepts a prompt on the vehicle’s screen to share distance data after signing up online.

‘The new normal’

a hand holding a remote control: Car insurance© Provided by Motoring Research Car insurance

“The way we travel has undergone a huge shift that could well have a long-lasting impact. We want to champion the changing needs of drivers who continue to work from home,” said Mark Harvey, director of enterprise connectivity at Ford of Europe.

“Working with By Miles, we aim to use connected vehicle data to help deliver a full suite of innovative new products and services for our customers.”

James Blackham, CEO and founder of By Miles, added: “The way insurance used to work may not work for everybody. Whatever the new normal looks like, it’s clear that drivers’ needs are changing quickly – and people want fairer, more flexible cover that reflects that.

“We’re delighted that our pay-by-mile collaboration with Ford will offer drivers a seamless, connected alternative to traditional car insurance.”

Source: Motoringresearch.com

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