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They mostly deal with numbers on the macro scale. If 10,000 miles per year is a good representation of how much the general populous drives, it’s good enough fo
by samtho 5y ago
They mostly deal with numbers on the macro scale. If 10,000 miles per year is a good representation of how much the general populous drives, it’s good enough for them. This is why we’re seeing more niche insurance companies pop up (MetroMile, et al) who can offer “smarter” rates based on a more granular assessment of risk.
- SilasX 5y agoAll else equal a driver who does 5000 miles a year will have half the adverse events of Someone driving 10,000 miles/year. That’s a huge difference that makes no sense of lump together. And yet only a few (non-commercial) insurers, like metromile, account for it. It makes no sense.