State Farm and Ford Introduce Usage-Based Insurance for New Vehicle Owners
User Friendly Insurance
State Farm and Ford are launching Drive Safe & Save Connected Car for customers with eligible connected Ford or Lincoln vehicles, to benefit from usage-based insurance (UBI). State Farm customers with eligible connected vehicles can opt into the State Farm UBI program, Drive Safe & Save, which adjusts premiums to an individual vehicle’s mileage and customer driving behavior.
State Farm will debut Drive Safe & Save Connected Car in Alaska, Idaho, Montana and Oregon, for policies effective on or after Feb. 27, 2022, followed by a rollout across more states (excluding Calif., Mass. and R.I.).
As a result, State Farm customers that drive an eligible Ford or Lincoln vehicle can better manage their overall vehicle ownership costs, by benefiting from their good driving behaviors or learning to improve their driving habits and in turn, reducing their premium. Eligible 2020 Model Year and newer connected Ford vehicles, with the consent of the vehicle owner, can share information directly with State Farm to enable Drive Safe & Save. The more customers improve their driving behaviors, the greater the insurance discount they may obtain.
“Customers can better manage their car insurance premium because their rate will be more closely associated with their personal driving characteristics,” says State Farm SVP Property and Casualty Chris Schell. “Drive Safe & Save represents a significant auto discount opportunity, including an initial 10% participation discount off major coverages. Discounts average between 10 and 15%, with even higher discounts possible depending on individual driving behaviors.”
“Connected vehicles have the potential to deliver great benefits to Ford customers, including the ability to help lower their car insurance premiums through good driving behaviors,” said Alex Purdy, Director of Business Operations, Enterprise Connectivity, Ford Motor Company. “We’re excited about State Farm’s approach of using Ford’s built-in connectivity to offer Ford and Lincoln customers new ways to save money. This agreement further builds on our strong and long-standing relationship with State Farm to continue to deliver value for our mutual customers.”
COMPANY DETAILS |
|
|
Company |
Ford Motor Company |
|
Website |
|
|
Connect |
   
|
|
Contact |
|
|
Phone |
(800) 241-3673 |
|
Address |
One American Road |
|
Dearborn, MI 48126 |
ABOUT Ford Motor Company®
Ford Motor Company is a global automotive and mobility company based in Dearborn, Michigan. With about 201,000 employees and 62 plants worldwide, the company’s core business includes designing, manufacturing, marketing, financing and servicing a full line of Ford cars, trucks, SUVs and electrified vehicles, as well as Lincoln luxury vehicles. At the same time, Ford is aggressively pursuing emerging opportunities through Ford Smart Mobility, the company’s plan to be a leader in connectivity, mobility, autonomous vehicles, the customer experience, and data and analytics.
