The less you drive, the less you pay
Seventy percent of American car owners overpay for insurance because they don’t drive much. Luckily, today MetroMile comes out of stealth to launch its per mile car insurance. The $14 million-funded MetroMile gives away a plug-in device for your car that connects to a free app that teaches you how to spend less on gas and shorten commutes. If you drive under 10,000 miles a year, you can buy its insurance to save an average of $400 a year.
“The existing instance companies want to see us fail”, MetroMile co-founder and CEO Steve Pretre tells me. I’m inside the startup’s hip gallery-style office space behind The Creamery in San Francisco, where little brown boxes covered most of the services. MetroMile was frantically preparing to ship 10,000 of its free car analytics devices today, — devices that could disrupt the whole car insurance business.
You see, until now, insurance companies couldn’t measure…
View original post 1,229 more words