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Waymo taps insurance startup Trov to cover its passengers

Waymo's self-driving Chrysler Pacifica minivan. Photo: Waymo

When Phoenix residents begin using Waymo's self-driving ride-hailing service next year, they'll be insured by Trov, a five-year-old startup that provides custom coverage. Waymo's own commercial insurance policies will cover damages to the car and from accidents.

Why it matters: The eventual arrival of self-driving cars will have a huge impact on auto insurance.

  • If car ownership significantly declines in favor of ride-hailing services, passengers will need protection for lost items, medical needs while onboard, and so on.
  • Insurance for the cars themselves is also expected to be heavily affected, especially as more self-driving cars hit the road, reducing accidents caused by human errors.