GM Tests Offering Free Insurance On New Cars
USATODAY.COM - Out in states like California, uninsured motorists remain a serious problem. So General Motors is involved in an experiment in two states that could help insure more drivers.
The test is taking place in Oregon and Washington, where drivers who take delivery of a new GM vehicle will receive a year-long insurance policy from MetLife at no additional charge.
The policy includes both liability and physical damage coverage and exceeds requirements in the two states. The deal applies to 2010, 2011 or 2012 Chevrolet, Buick, GMC or Cadillac car, truck or crossover and is only good on purchases through Sept. 6. But hey, it's a start.
While we see it as a plus for public safety and individual responsibility, GM views its offer as having a more direct effect: it may bring in buyers by making cars more affordable.
"We want to give residents of Oregon and Washington another reason to discover Chevrolet, Buick, GMC and Cadillac vehicles," said Chris Perry, U.S. vice president of General Motors marketing. "We have new products like the Chevrolet Cruze, Buick Regal, GMC Terrain and Cadillac CTS Coupe that are now even more appealing with a year's worth of insurance."
The policy covers the vehicle and anyone who drives it with the owner's permission for a full year from the date of purchase, as long as the original purchaser continues to own or lease the vehicle. The policy is not available on vehicles purchased or leased for certain commercial or fleet purposes. And there's a little more fine print:
If a new car is damaged beyond repair within the car's first year or first 15,000 miles, whichever comes first, MetLife Auto & Home will repair or replace the vehicle with a new vehicle, without deducting for depreciation. Many auto insurers subtract miles driven at the time a vehicle is damaged resulting in thousands of dollars in out-of-pocket expenses.
GM is testing auto insurance as a standard feature to determine consumer appeal. It is available only to Oregon and Washington residents with valid driver's licenses who title their vehicle in those states. The vehicle owner can seek to renew the insurance at the end of one year or go elsewhere for coverage.
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