Automaker Toyota’s insurance arm has begun selling its first branded insurance coverage, Toyota Auto Insurance, in Arizona, Illinois, Indiana, Ohio and South Carolina, and will soon be offering the coverage in Georgia, Missouri, Tennessee and Texas.
The insurance agency said additional states will be added in the coming months.
The agency, Toyota Insurance Management Solutions, is a joint venture between Aioi Nissay Dowa Insurance Services, Toyota Financial Services International Corp., and Toyota Connected. It is a licensed property/casualty independent insurance agency.
The car manufacturer launched the agency in April 2016 to offer car insurance online. The agency has since expanded to also offer home, renters, recreational vehicle and pet insurance. In 2018, Toyota began offering a usage-based auto insurance product using telematics. This new Toyota branded auto insurance is the latest addition. Toyota now sells insurance via its mobile app, call center agents, dealerships and the Toyota website.
Toyota Auto Insurance is being underwritten by digital and embedded insurance company Toggle, part of Farmers Insurance. Toggle will also handle claims. The insurance will work with Toyota-certified collision centers, rental car programs and roadside assistance. Coverage options include coverage for rideshare drivers or pet passengers. Non-Toyota vehicles in customers’ households can be covered as well.
“With Toyota Auto Insurance, we can truly enhance the complete Toyota ownership experience for our customers,” said Will Nicklas, chief operating officer of Toyota Insurance Management Solutions.
Toyota is not alone among automakers looking to veer into insurance. Others looking to leverage their data collection capabilities and customer reiationships into insurance revenues include General Motors, Stellantis and Tesla.
Related:
- Jeep, Dodge, Fiat Automaker Stellantis Plans Usage-Based Insurance Offering
- GM Offering Onstar Service to All Drivers Through App; Options Include Insurance
- Tesla to Offer Auto Insurance Program in Texas
- Volvo’s Autonomous Trucking Offer Bundles Pilots, Insurance, Services
- Porsche Expands Its ‘Flexible Ownership’ Subscription That Includes Insurance
- Honda App Links Feedback on Drivers to Insurance Carriers via Verisk
Topics Auto Agribusiness
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