Swipe Up Coverage For A Bird Or A Plane. This Smartphone App-Brokered Insurance Will Soon Cover Both

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This Tel-Aviv based startup brokers on-demand insurance for 'episodic use' of drones, and will soon add e-scooters, speedboats, sailboats, jet skis and small planes to the mix

Voom cofounder and chief executive Tomer Kashi himself commutes on a scooter at home in Tel Aviv.Rates have not been finalized, but in a phone interview, cofounder and chief executive Tomer Kashi said that for such scooters, the flat rate coverage would be a fraction of the rental rate. Without a driving record to assess risk, premiums will be determined by location and time of day.

A 10-minute zip through Santa Monica on a Bird would likely rent for about $4. Voom's coverage for such"episodic use" would be less than that, around $2. That gives you peace of mind on liability - damage to another vehicle - as well as personal injury costs. The insurance won't cover the scooter you're on, because of its low replacement cost.

The plan is eventual national expansion, but Voom will prioritize states with the highest adoption of the products it will cover. Those are California, New York and Florida. "Basically, we want to offer the right coverage to people when they want it, as they need it,” said cofounder and chief technical officer Ori Blumenthal. “It’s natural, once we live in this on-demand economy… to provide the most flexible coverage."

Once Voom completes approvals for its on-demand insurance, coverage all verticals will be available via web and smartphone app.I am a Los Angeles-based freelance journalist fascinated with mobility and urbanism, the VCs fueling the innovators, and where it's all headed. Much of my work here carr...

 

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