A California company is selling car insurance by the mile, using in-car sensors to log data.
A company called MetroMile has started selling insurance to drivers in Oregon based on how many miles they drive. The business uses an in-car sensor that logs the miles, and sends a monthly bill, something like a utility meter. The company says that its ideal consumer, someone who drives 5,000 to 8,000 miles a year, can save 25 percent to 30 percent a year, compared with conventional auto insurance.
The longer plan is to have a running monitor of the car’s health.
See full article in the New York Times.
Earthgarage – Greener Car. Fatter Wallet.