There are several reasons why Root car insurance is different from or given by your specialized insurance company:
- Ainda is new. Root founded in 2015. Compare to Geico auto insurance, or progressive auto insurance, and or State Farm auto insurance, which were founded in the early mid-1900s.
- Ainda is not available everywhere. Root plans to expand to eight new states in the near future, but will only open twenty-nine states by the end of 2019. Likewise, moving from a covered state to a non-covered state, your policy will not transfer.
- Great rates because only two drivers are insured. Root offers insurance based on your driving. I told the company that it can keep the taxes low because it does not insure bad drivers. He affirms that or worse 30 percent two drivers cause or 45 percent of all costs two damages, because he prefers not to insure them. Other companies will make sure they don’t care how you drive, but not Root. Or root can also cancel its policy if it begins to show a pattern of accidents and bills while it is under a plan.
- Faise completely through a smartphone. Or root car insurance is only available through what is called “test drive.” This is a period of days or three weeks where Root uses your driving capabilities based on an application. If you don’t have a smartphone or your iPhone is older than 5S, you’ll need to update your phone to download the smartphone app.
- Everything is done in a mobile application. From the test drive to make claims, all faise be in the application. During a claim, you will receive email updates as it progresses or is processed.
- There are no agents. Or root car insurance does not assign you a personal agent. You can call or call customer service and call a real person, but they will not be specifically assigned to your policy as an Allstate or National Insurance agent would do.
- Include roadside assistance. Another reason that Root car insurance is different is that each plan includes roadside assistance.
Root Insurance Expansion Plans
Launched in 2015 in the United States, the American start-up Root Insurance offers innovative insurance contracts to motorists in 29 US states. It plans to continue expanding to reach a national scale.
In the first half of 2019, the value of the contracts it signed increased by 824% compared to 2018 during the same period. Fintech’s valuation rose to $3.65 billion following a $350 million fundraising. But how does Root Insurance lure Americans looking for auto coverage?
A test drive conducted on a smartphone
Before signing a car insurance contract, Root Insurance invites motorists to take a driving test, which they can take on their smartphone. To do this, they simply need to download the application dedicated to this purpose, after registering on their online platform.
The test, which lasts 2 to 3 weeks, evaluates driving fluidity, cornering, driving hours or braking. The startup sends a quote to the driver after this driving test.
Root Insurance offers a coverage system that benefits good drivers
Root Insurance is ahead of traditional insurers with its much lower prices. Therefore, the company announces a difference of 52% compared to the offers of the latter. The strategy adopted is to exclude bad drivers.
This measure may be discriminatory against the latter, but it nevertheless makes it possible to offer attractive rates to good drivers. To identify and decide between them, the young farmer first offers them a remote assessment.
This method allows the start-up to keep the price relatively low, or even offer a reduction to the best drivers. It also argues that bad drivers, due to the accidents they cause, contribute to higher insurance premiums.