A new partnership between fintech car ownership platform Way.com and CURE Auto Insurance promises to protect cars from damaging hurricanes and tropical storms.
The initiative, called the Catastrophe Loss Mitigation program, offers a white glove service from start to finish where customers in projected impact zones of severe hurricane and flooding events will be notified via phone alert, in advance, of prepaid local parking garage reservation and credits for Uber transportation to and from dropping off their vehicle.
Besides CURE, three additional carriers have signed on to the program.
“We are in the business of risk management, and every day, you’d take a loss avoided over a loss incurred,” said CURE Chief Operating Officer Sean Albert. “Unlike the homeowners insurance market, as an auto insurer, the property we insure can be moved out of harm’s way. This initiative is a no-brainer for the customer and all sides involved – everyone wins.”
The program is now available in hurricane-affected states including Florida, Texas, Louisiana, North Carolina, South Carolina, Alabama, Georgia, Mississippi, New York, New Jersey, Massachusetts, Pennsylvania and Virginia, with secured parking garages available to customers in case of a major weather event.
“In the last five years, 1.6 million cars have been lost due to flooding.” Way’s Vice President of Strategic Partnerships JR Anciano added. “When families evacuate, they typically leave together and often must leave a car behind. Now their vehicle can be taken to a safe, protected space. The team at Way is proud to provide solutions to our partners to help them meet important needs in the market for their customers.”