Dearborn’s Ford Motor Co. is teaming up with automotive insurance carriers across the U.S. to offer customers premiums based on driver behavior.
The system will use Ford’s built-in connectivity technology on eligible vehicles. Additionally, Ford Insure and Lincoln Motor Co. Insure, underwritten by Nationwide, offer usage-based policies through Ford’s insurance agency subsidiary.
Ford has secured agreements with State Farm, Allstate, Liberty Mutual, Metromile, and Verisk Data Exchange to support usage-based insurance policies. Other insurance carriers are under contract and will be announced in the future.
“Connected vehicles present new opportunities for us to help customers save money and improve their experience with Ford products,” says Alex Purdy, director of business operations, enterprise connectivity at Ford.
Owners of eligible Ford vehicles who select usage-based insurance policies and choose to share connected vehicle data about their driving habits may qualify for discounts based on that data. Telematics data is shared with insurance carriers through Ford’s embedded modem, which is now standard on all new vehicles. It enables the carrier to use the information to analyze driving habits and offer potential savings.
Connected vehicle data also enables the usage-based insurance products offered through Ford Credit’s insurance agency subsidiary, American Road Services Co. Launched in 2019 with the 2020 Ford Explorer and Lincoln Aviator, the products offer discounts of up to 40 percent.
Customers with eligible Ford and Lincoln vehicles can obtain a quote, buy a policy, and bundle their policies through the FordPass or Lincoln Way apps or by visiting fordinsure.com or lincolnmotorcompanyinsure.com.