Earlier this year, Toyota and Nationwide teamed up for TIMS BrightDrive, a way for drivers to obtain usage-based insurance based on connected vehicle data.
Now, Ford and State Farm are offering something similar called Drive Safe & Save. It's a new program available to owners of eligible 2020 model year connected Ford and Lincolns, with, of course, the consent of the driver.
The program uses connected vehicle telematics data for usage-based insurance (UBI) products. For example, it uses vehicle telematics to match premiums to the number of miles driven and rewards good driving behavior through potential discounts.
State Farm says the program gives eligible Ford customers greater control of their overall vehicle ownership costs, and that they can benefit from driver coaching provided by State Farm to help improve their driving habits and in turn, reduce their insurance premiums.
With the consent of the eligible vehicle owner, can share information directly with State Farm to enable Drive Safe & Save. Benefits to the plan include potential savings on car insurance. The more customers improve their driving behaviors or the fewer miles they drive, the greater the insurance discount they may obtain.
"State Farm and Ford have a decades-long history of working together on vehicle and driver safety initiatives. Working with Ford on our usage-based insurance program is a great example of how we will continue to work together to meet our mutual customers' needs today and into the future," said Chris Schell, State Farm Senior Vice President Property & Casualty.
"Connected vehicles have the potential to deliver great benefits to Ford customers, including the ability to help lower their car insurance premiums through usage-based insurance," said Stuart Taylor, Executive Director Enterprise Connectivity, Ford Motor Company. "We're excited about State Farm's approach of using Ford's built-in connectivity to promote safer driving habits and enable opportunities for our mutual customers to save money. This agreement further builds on our strong relationship with State Farm to continue to deliver value for our mutual customers."
The program is not available everywhere. Drive Safe & Save is not available in California, Massachusetts and Rhode Island, and the app Drive Safe & Save Mobile is not available in New York.
Click for more details on Drive Safe & Save.