By Miles, the U.K. pay-by-mile auto insurance provider, is establishing a “connected automobile ” insurance policy specifically for Tesla drivers.
The insurance program pulls mileage info straight from a car owner Tesla account and uses. It claims to be the first auto insurance policy to carry data with no need for aftermarket apparatus or a box ” from an automobile.
The newest policy — made in partnership with digital insurance La Parisienne Assurances (endorsed by Swiss Re) — offers lesser mileage Tesla owners at the U.K. (those who drive under 7,000 mph ) that the chance to save significantly on their annual auto insurance, based on By Miles.
The insurtech states it is bucking the trend of car insurance not keeping pace with changes in technology, for example, move to electrical and linked automobiles. It cites industry figures which suggest 1 in 10 new cars sold in the U.K. are actually electrical.
James Blackham, co-founder of By Miles, states that the insurer wants to “grab up and launch policies as clever as the automobiles.
To activate the Tesla policy, drivers simply connect their Tesla with their By Miles account, without the need to install a separate black box”. Via the By Miles appthey are able to observe rsquo; s miles & the price of each evening and pay for whatever they’t.
The new policy also claims to present electric-first policy coverage, such as covering items frequently not included on insurance policies as regular, such as “damage or theft of charging accessories and cables as well as electric auto batteries”.
Meanwhile, in other ways the By Miles connected automobile policy isn’t so much of a deviation from the company’s present By Miles policy. It first launched a pay-by-mile policy in July 2018 allowed with its “Miles Tracker” device that plugs into your car also claims over 10,000 policyholders.
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