Ford, State Farm Team on Pilot to Lower Drivers’ Ownership Costs
Driver-assistive safety features are becoming more commonly standard on new vehicles, and it stands to reason that this will help drivers save money in the long run. Ford, whose Ford Co-Pilot360 is standard on vehicles like the new F-150 and Explorer, teamed with State Farm to put that theory to the test.
A recent pilot program saw the two companies sharing data to see how advanced safety tech affects auto insurance claims. The yearlong pilot used Ford’s Vehicle Build Data product to properly assess the risk potential of drivers.
Ford, State Farm find tech can save drivers up to 20 percent
At the end of the pilot, drivers insured by State Farm saw savings of up to 20 percent thanks to advanced driver-assist systems. These technologies were shown to help reduce the frequency and severity of auto claims, meaning more drivers are seen as less risky.
“Our new build data API piloted with State Farm is another way we’re using data to help our customers get the most out of their Ford, at a lower total cost of ownership,” Ford’s Digital Insurance Manager, Ford Enterprise Connectivity, Tim Meek said. “What’s more, State Farm can access build data back to 2010, which means second and third owners also benefit.”
Ford and State Farm will continue the pilot accordingly, rolling it out for Ford, Lincoln, and Mercury vehicles going back to the 2010 model year.
With each successive year, Ford continues to introduce new safety technologies on its vehicles. The latest is BlueCruise, the company’s hands-free driving system, which debuts this year on the F-150 and Mustang Mach-E and will roll out to the 2022 Ford F-150 Lightning next year.