fbpx

VOOM Pay Per Mile Motorcycle Insurance

Lowering motorcycle insurance costs In an age of inflation.

Inflation and escalating costs are the news of the day. The Consumer Price Index is at an all-time, 40-year high, with gas prices currently peaking at $4.50 per gallon nationally. Factor in the war in Ukraine and the resulting economic and geopolitical uncertainty over the past couple of months and it’s no wonder it’s the number one topic of conversation on everyone’s lips.

No one has been spared from these recent developments, and it has already had a profound impact on the motorcycle industry and culture. How it affects new motorcycle sales, the amount that people ride, discretionary spending habits, demand and overall economic activity remains to be fully realized. We are heading into new territory, where only time will tell how this all plays out. 

One sure thing about the recent economic challenges is that consumers will tend to spend less on luxury goods and services. Consumers will scrutinize everything from Netflix subscriptions to gym memberships to travel plans. Besides canceling certain services to save on overhead, many will look for increased value from expenditures that are not necessarily optional: constants like motorcycle insurance.

Motorcycle insurance is necessary for all motorcyclists and the most significant annual expense, something they pay for regardless of whether they ride.

Fortunately for motorcyclists, it isn’t all bad news. While the underlying macroeconomic forces sort themselves out, one innovative company in the motorcycle industry provides tremendous value for those striving to control their overall monthly overhead, especially motorcycle insurance costs. 

VOOM Insurance is an insurance company that understands motorcycling for many isn’t an optional expense — it’s a passion and significant part of millions of Americans’ daily lives. VOOM also understands the cost of ownership and that most motorcycles are ridden less than 2,000 miles a year. VOOM is an innovative InsurTech company creating next-gen insurance products for new-mobility segments. Its expertise lies in various mobility verticals across multiple platforms, including drones, light planes, e-scooters, modern fleets and motorcycles. 

VOOM Insurance has launched a very innovative pay-per-mile program that, on the surface, makes a tremendous amount of sense based on most riders’ riding habits. Its program is not only perfect for low-mileage riders but also infrequent/weekend riders, riders who store their bikes seasonally and riders with multiple motorcycles. Riders could save as much as 60% by using pay per mile. Currently available in five states (Arizona, Illinois, Ohio, Indiana and Wisconsin) but set to expand soon into many more, VOOM Insurance has looked at the marketplace and developed products and services that make sense during these challenging economic times.

VOOM Head of Marketing, Amir Shneider, explained, “We surveyed hundreds of motorcycle riders and found that 70% ride 2,000 miles a year or less. These riders are actually ‘overpaying’ to cover the risk of a few other lucky riders that do ride a lot. Instead of paying high insurance rates, even when the motorcycle sits in the garage for weeks or months at a time, with VOOM, riders pay a low monthly base rate, plus a few cents for every mile they ride. With no tracking or hardware required, riders report their mileage by sending a picture of their odometer.”

As we move forward into what will undoubtedly be very challenging economic times, it’s great to see companies like VOOM take a new approach to what has historically been a very stable market offering. For more information and to get a quote, visit the VOOM website at https://www.voominsurance.com.

You May Also Like

Industry Veterans Marilyn Stemp and Steve Piehl Appointed to Sturgis Motorcycle Museum and Hall of Fame’s Board

Stemp and Piehl will begin serving on the board immediately.

Marilyn Stemp and Steve Piehl

The Sturgis Motorcycle Museum and Hall of Fame recently named Marilyn Stemp and Steve Piehl to its board of directors.

Stemp is a pioneering figure in the motorcycle industry, founding IronWorks Magazine with her late husband, Dennis, and becoming the first female editor of a nationally circulated, mainstream motorcycle magazine. She also revived their trade magazine, Iron Trader News; edits the monthly Kiwi Indian News; contributes to several powersports media outlets; and is the founding editor of Sturgis Rider Daily. Stemp is a noted editor and writer of several motorcycle-focused books. Her consistent support for charitable efforts in the industry include the annual Biker Belles Celebration, Las Vegas BikeFest and as campaign chair for the Sturgis Motorcycle Museum’s development plan in 2014. She co-founded the Flying Piston charity events taking place in Daytona and Sturgis each year and is a National Ambassador for All Kids Bike. Stemp was inducted into both the Las Vegas Motorcycle Hall of Fame and the Sturgis Museum's Hall of Fame in 2018, and in 2022 she was recognized as one of the Top 100 Women in Powersports by DealerNews.

MIC Statistical Annual Now Available

Get ahead of the motorcycle sales season.

Motorcycle Industry Council
REV’IT! TAILORTECH Design Challenge Offers U.S. Riders Chance to Win Custom Race Suit

Submissions will be accepted through April 21, 2024.

racing suit
Vespa World Days 2024 Set to Run April 18-21

The National Vespa Clubs from 55 countries come together, uniting thousands of Vespas from five continents.

Vespa World Days 2024
Mips Becomes Official Safety Partner of the FIM Motocross World Championship

This exclusive collaboration promotes enhanced safety awareness across the MXGP series.

MXGP/Mips partnership

Other Posts

Rekluse Team Names Randy Mullinix Product Manager

Mullinix comes with a tenure of two decades at leading OEMs.

Randy Mullinix
Indian Motorcycle Announces Sponsorship of Handbuilt Motorcycle Show

Indian’s sponsorship includes the season’s first Owners Ride, Custom Bike Display and demo rides of the all-new Scout lineup.

Handbuilt Motorcycle Show 2024
Octane Redefines Powersports Lending With Dealer Portal 2.0

Dealer partners can deliver an even faster, easier financing experience for their customers.

Dealer Portal 2.0
Iron Pony Motorsports Acquires Honda/Suzuki/Can-Am of Jackson

The company expands its footprint in Ohio.

Iron Pony Motorsports