Ford Motor Company and State Farm Insurance have announced that drivers who allow their Sync equipped vehicle to report actual in use mileage could have their auto insurance premiums reduced by as much as 40%.
This extension of State Farm’s Drive Safe & Save promotion allows customers with Sync-equipped vehicles to reduce their auto insurance premiums by using the Vehicle Health Report feature to report their mileage.
The amount of discount will be determined by the number of miles driven. Those choosing to enroll in the program will initially save about 5% on their auto insurance coverage. The amount of premium savings will be determined at each renewal date – every six months – based on the number of miles driven during that period. Those driving the national average of 1,000 miles per month will typically save around 10%, but that could change depending on actual mileage driven, with low-mileage drivers saving up to 40%.
Since the so called Vehicle Health Report obtains the odometer reading directly from the engine computer, the mileage from the report is considered verified and can be shared with State Farm representatives to qualify the vehicle for Drive Safe & Save. The auto insurance program will initially launch in Utah then roll out to other states.
