Markel underwrites pay-per-mile motorcycle cover for Voom

Specialist insurer Markel has agreed to underwrite a pay-per-mile insurance offering for motorcycles by Voom, a US insurtech firm.

The usage-based offering is designed to provide more flexible coverage, based on the seasonal or irregular usage habits of many motorcycle riders.

Riders will be able to pay a low monthly base rate determined by certain factors, such as the type of motorcycle they ride, then submits photos of their odometer every month.

Coverage is accompanied by online policy management, and varied other coverage options available to qualified riders, including liability, comprehensive, medical payments, collision, uninsured motorists, and accessory coverage.

“Markel is thrilled to collaborate with VOOM to help introduce per-mile insurance to motorcycle riders,” said Jeff May, Executive Underwriting Officer, Markel.

“We’ve been providing specialized motorcycle coverage for years, and due to the seasonality of the motorcycle riding season, this is a natural progression in the evolution of motorcycle insurance,” he continued. “VOOM’s innovative technology and customer centric approach, combined with Markel’s specialized motorcycle coverage, make this a product that we hope will bring motorcycle insurance to the next level for riders.”

Tomer Kashi, CEO and Co-Founder of VOOM, also commented: “We are excited to be providing motorcyclists with flexibility through this per-mile motorcycle insurance product. Enabling cost-effective insurance options for riders and drivers is our top priority. We look forward to spurring further growth across mobility, particularly in otherwise overlooked parts of the industry.”