In America it will be possible to buy insurance for bitcoins

07.05.2021 |

Metromile, a U.S. auto insurer based in San Francisco, revealed its plans to use bitcoin in its operations. The company, which provides insurance coverage to motorists based on mileage driven, will start charging premiums and making reimbursements in digital currency.

The insurance company also plans to purchase its first $10 million cryptocurrency as early as this quarter. All actions are aimed at providing fairer insurance and increasing the financial stability of the company’s policyholders.

All of the plans still need to go through regulatory approval. However, already now the company’s clients can save up to 47% in annual terms from the previous scheme of work. The choice of payment method will expand the user base and provide flexibility in the payment method.

If it is already known about investments in digital gold, the timing of the start of accepting bitcoin as an insurance bonus is not exactly called yet.