Adopting new policy options such as PPM demonstrate that insurers are keeping up with these evolutions and are able to serve policyholders with unique and value-added solutions at each stage of their driving journey.
Pay-per-mile (PPM) insurance is a growing auto insurance product segment that can help lower a driver’s monthly auto insurance premium. PPM is a variety of pay-as-you-drive (PAYD) insurance, which is primarily focused on accurately monitoring mileage driven and thus, pricing policies appropriately based on that mileage.