Home and auto insurance services provider Liberty Mutual and Chicago-based ForeverCar recently announced a partnership to include vehicle service contracts as part of the suite of offerings Liberty Mutual offers to its policyholders.
Mark Hodes started ForeverCar with the intention of providing customers with an online option for purchasing automobile service warranties. Hodes told the Daily Whale during a conversation in 2014 that the company planned to make the warranty buying process much more transparent than the traditional procedure for purchasing manufacturer warranties. Last year the company raised $10 million in an investment round led by the venture are of CUNA Mutual Group. Crain’s reported ForeverCar planned to use the funds to add more staff with a focus on building its data science and machine learning teams. According to a press release announcing the new Liberty Mutual partnership, ForeverCar’s online portal now allows consumers to use “online tools to adjust costs and features in real time, once they input the make, model, year and mileage of the vehicle for which they’d like coverage.” The release explained, “Then, by answering some simple driving questions, the consumer increases or decreases costs and coverages, finding the sweet spot for their own budget and needs.”
Liberty Mutual and ForeverCar said their new partnership offered “consumers the ability to completely rest assured, with both accident and repair insurance under one roof.”