CycleNews Analysis: Pay Per Mile motorcycle Insurance is ideal for Multiple bike owners

Read the complete CycleNews price analysis about VOOM pay Per mile motorcycle insurance

CycleNews Analysis: Pay Per Mile motorcycle Insurance is ideal for Multiple bike owners

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Published on

October 5, 2021

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"Rather than a flat annual fee, your VOOM Insurance rate is based on your actual monthly mileage along with a flat base rate between $3.00 per month for a basic package and up to $30 per month for the “extended” option. When you activate your VOOM Insurance policy, you take a picture of your odometer and easily upload it directly from your camera. Each month, you get a reminder to send in a new photo of your odometer to calculate your pay-per-mile cost. If you ride less, you pay less that month. And if you forget to send the photo, you will be charged a default mileage amount and that will be reconciled in future months based on your actual mileage. In our analysis, even the high mileage months resulted in a lower cost than a typical flat monthly rate from other insurance companies in many cases. So the total annual cost was less, but not in all cases.
In my case, I recently purchased a KTM 300 two-stroke off-road motorcycle that is legal to register for the street in Arizona (when properly equipped with turn signals, horn, mirror, etc.). The VOOM Insurance cost for this bike was about 50% less than my current insurance provider, so I purchased the VOOM Insurance policy for that bike. Because I ride this bike relatively low mileage, the pay-per-mile option is great. I also own a 2021 Yamaha Tenere 700 ADV bike that I ride around 2400 miles per year, and in this case, the VOOM Insurance quote was about 30% more than my current provider. So this points out the need to make your own comparisons. The combined cost of the two bikes using the VOOM pay-per-mile option was about 5-10% less than my current provider based on my estimated monthly mileage. And because three of my four motorcycles are dual-sport bikes that I ride relatively low monthly miles with, VOOM Insurance is a good option for me". (Sean finely, CycleNews)

Read the complete analysis here>>

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