By Miles

The world's first connected car insurance policy

By Miles has launched the world's first connected car insurance policy. Paid by the mile, it's designed with lower mileage Tesla drivers in mind - and it's totally trackerless. No need for any new hardware or software, just log in and drive.
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Hi, I’m Callum, the CTO of By Miles and one of the co-founders. Today, we’ve launched the world’s first ever connected car insurance policy, and we’re offering support and fully comprehensive cover for Tesla drivers in the UK first. What does that actually mean? It means we made the first insurance policy in the world to take real-time data from cars (without the need for a smartphone, an app, any software or a device) to price the insurance on that car. It’s a smarter policy too, offering electric-first cover alongside fairer and more flexible pricing. Members just log into our app with their Tesla details to get connected in a few taps - then we count the miles they drive each day. The basic principle behind our policies is: you’re much less likely to have an accident when you’re not driving. You also aren’t adding traffic to our congested roads. We believe lower mileage drivers should be rewarded, so with By Miles you pay a fixed annual cost upfront to cover your car while it’s parked, then you just pay for the miles you drive each month. The cost of insuring a Tesla in the UK can be expensive, so we’re giving owners of the smartest cars on the market a chance to take back control of their car insurance. We launched our original pay-by-mile car insurance policies just over a year ago, using a matchbox-sized device called a Miles Tracker that our members plug into their cars to count the miles they drive. We now have over 10,000 members, we’re rated ‘Excellent’ on Trustpilot and we recently won ‘Car Insurance Provider of the Year’ at the Insurance Choice Awards 2019. It made sense that we’d go trackerless at some point - and as Tesla are the most disruptive car manufacturer out there, it made sense to launch support for their cars first. While we’re thrilled to be launching this new policy alongside insurance underwriter La Parisienne Assurances today, we’re even more excited about the opportunities this opens up for the future of car insurance. As cars get even smarter, insurance must keep pace with it - so features like Tesla’s ‘autopilot’ will need new, more flexible insurance models. We think this is the future of car insurance: policies that adapt themselves infinitely to the specific needs and risks of each driver. It won’t be long before we’ll be offering different rates for when a human is driving to when the car is driving itself... Feel free to fire over questions. Look forward to answering them!
@callum_rimmer1 when will this be launched in the US?
@chrismessina Hi Chris, We'd love to bring this policy and tech to the US. Car insurance in the UK isn't quite as complex as we don't have to negotiate state-by-state differences in regulation, it's just one policy for the whole country. Something for the future potentially but not right now. Thanks, Callum
@callum_rimmer1 Congrats on the launch. I'm the co-founder of Smartcar.com which provides an API for cars that's compatible with 15 brands. No aftermarket hardware needed. Any plans to support other car brands beyond Tesla? How can we get in touch?
I'm a Metromile customer. I don't drive often so I found it the cheapest. How does this compare, ?makers?
@rrhoover Hi Ryan, Thanks for the question - it's a good one. Glad to hear you're already a pay-by-mile convert . Our standard policy is slightly different to Metromile in a few ways (only the first is related to pricing): 1. On pricing, you pay a fixed upfront cost to cover your car while it's parked for the year (rather than a monthly parked subscription). We've had feedback that drivers prefer to pay that way to get the big cost out of the way in one go, so your monthly mileage bills would be lower - and there's always the benefit that if you don't drive at all, you don't pay a penny more! 2. Our new connected policies use data direct from the car, which Metromile don't do. For these trackerless policies we read the mileage directly from the car's mileometer - so it's not journey-based right now, it's daily distance based. 3. We're only available in the UK (at the moment). Thanks! Keep the questions coming. Callum
What if a driver doesn't log in to the app for short intra-city trips ? How are the driving miles validated ?
@kng Hi Kamal, Thanks for the question. You may have seen the answer above, but on our trackerless Tesla policies, we use data direct from the car. No device needed, no software needed - and you don't even need a smartphone or app if you don't want to use one to keep track of your miles. We read the mileage directly from the car's mileometer - so it's not journey-based right now, we just read the distance you've driven at 23:59 each night and charge you for those at the end of the month. On our Miles Tracker policies (for cars not as smart as Teslas), a matchbox-sized device plugs into a car's OBD-II socket, so again, these work totally independently from any app or dashboard, so you don't technically need those either, we just send you an email at the end of each month and bill you for your miles. Happy to answer any other questions you have. Callum
How do you compare it to Mertomile? I've been using Metromile for years. It's been saving me 50+ % monthly. Congrats on the lunch!
@coschaos Hi Mr. Mason, Thanks for the kind words. You may have seen my response to @rrhoover above in relation to the main differences between us and Metromile. We've designed our policies to work best for people that drive under 7,000 miles a year (the UK average, but we're a smaller country than the US), so not sure how that compares. It's a similar principle in the sense that the less you drive, the less you pay though - and our members report savings of up to 70% in reviews. It totally depends on your circumstances. Are you driving a Tesla at the moment? Thanks, Callum