IE recently covered the MCE launch of PAYG insurance for bikers in the UK. Well the trend is catching on.
Israel based insurtech Voom has teamed up with Full Throttle, an off-road/MX online motorcycle media channel launching in 2023, to offer pay-as-you-ride cover in the USA. No hardware or tag is required says Voom.
We checked out the Voom website and it states that you send a phone photo of your odometer once a month to your insurer, as proof of mileage. OK, that may work, although we can see flaws in relying on customer honesty.
Voom offers three levels of cover and most owners will probably opt for the Comp option, which actually covers the machine when stored in a garage or secure area. Plus you get medical cover at the top level which most riders would want in the USA.
IE is still confused as to how Voom will sell PAYG insurance to MX riders who van or truck their machines to off-road areas, or events, and then ride them for fun off the public highway, which is the core audience of Full Throttle. That said, many will also own a road legal motorcycle as well, so there is that crossover.
Here’s the Full Throttle site which launches in January 2023.
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