Pay-per-mile Auto Insurance Options – Brett Helling Brett Helling, his driving force, 2012 started as a ride-hailing driver, completing trips for companies like Uber and Lyft. In the year 2014 He has been named a trusted voice by Forbes, Vice and CNBC. Expanding on his vision, he founded Gigworker.com and wrote Gigworker: Independent Work and the State of the Gig Economy for Amazon. Learn more about Brett here.
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Pay-per-mile Auto Insurance Options
If you’ve driven for Uber or Lyft as a ride-hailing driver, you may know that these companies insure their drivers.
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According to MetroMill’s website, the company wants to “automate claims processing, reduce fraud-related losses, increase insurance carrier employee productivity and work on high-impact practices.”
By plugging it into your car’s diagnostic port, the company will monitor how many miles you drive.
It also gives you detailed information about your vehicle as it is connected to your car’s OBD-II sensor.
For example, you can use Pulse to monitor the health of your car and receive notifications about maintenance, such as an oil change or when the check engine light comes on.
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The Pulse also has an alert system that will tell you when the car needs to be moved to clean the streets.
You can view information about your vehicle on the company’s website, metromile.com, or in the Metromile Driving app for iOS and Google Android devices.
This means that the insurance does not take into account everyday driving habits such as speeding or braking too much.
The cost of a MetroMile depends on many factors, including your driving history, the type of insurance you choose, the type of car you have and how much you drive.
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With a usage-based insurance program, the more you charge, the less you pay and the more you save.
While costs may vary for each driver, customer reviews show that individuals have saved about $50 per month by switching to Metromile.
The company offers free insurance quotes so you can easily determine how much money you can save.
Next, you need to add information about your car, such as the type of anti-theft device, car ownership status, and the main use of the car.
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For example, let’s say you have a car, but parking is expensive in your city, so you drive.
Instead of paying monthly insurance for a car that you only use five or six times a month, you can look into a Metromile insurance policy.
For example, if your mileage is 9,000 miles and half of the miles are driven, you can easily deduct half of your car insurance.
Check your travel history and secure free Metromile quotes to determine if it’s worth switching.
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For example, let’s say you have one car for carpooling and commuting, and another for weekend trips.
If you need to make a claim, you can do so quickly using the Metromile mobile app or online.
Even if you’re a driver or don’t use your car often, Metromile can save you money on your car insurance.
The usage-based program only charges for miles driven, and the Metromile app is easy to use.
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And if you use a program like Fair to rent a car just for the ride, you won’t be able to use Metromiles for coverage.
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Per-mile car insurance policies are best for low-mileage drivers because after paying a small base rate, insurance benefits are based on Miles One Drives.
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Written by Daniel Robinson Written by: Daniel Robinson Author Daniel is a writer for the Guide Group and has written on auto finance and car care topics for a number of automotive news sites and marketing organizations in the US, UK and Australia. Daniel is the Guide Group authority on car insurance, loans, warranty options, car services and more.
Edited by: Rashawn Michner Edited by: Rashawn Michner Managing Editor Rashawn Michner is an executive team editor with over 10 years of experience covering personal finance and insurance topics.
Here at The Guide, we explain car insurance by the mile, including how it works and why you should consider getting it. We’ll also discuss two car insurance companies that offer pay-as-you-go coverage that you should contact for free quotes.
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The guide team is committed to providing you with reliable information to help you make the best decision about your vehicle insurance. Because consumers trust us to provide objective and accurate information, we’ve created a comprehensive rating system to rank the best car insurance companies. We collected data from dozens of auto insurance providers to rank companies based on a variety of ranking factors. After 800 hours of research, the final result was an overall ranking for each carrier, with the top-scoring insurers at the top of the list.
Used car insurance allows you to pay for your insurance based on how far you drive. For this reason, it can be a good choice for people who work from home or have short commutes to the office.
Drivers who don’t put a lot of miles on their cars avoid a lot of wear and tear on their vehicles and save on fuel. Pay-per-mile car insurance policies can be cheaper than your current policy and provide the same coverage as regular insurance.
Pay-per-mile car insurance tracks the distance you drive through a mobile app or plug-in device. Premiums are determined based on the total distance driven, with lower mileage drivers receiving lower car insurance premiums.
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There are two ways your car insurance provider can monitor your mileage: with a telematics device or a smartphone app. A physical telematics device (aka key) is installed or connected to your vehicle and the app can be downloaded directly to your smartphone.
Whichever option you choose, your insurer will collect specific information about your driving habits. Car insurance companies collect key metrics such as speed, braking and mileage to determine highly personalized premiums.
Although auto insurance premiums per mile depend on many factors, policies typically cost six or seven cents per mile. As the name suggests, per-mile premiums are usually based on the total number of miles you drive each policy period.
A pay-per-mile insurance program charges a base rate (monthly or daily) and a fee per mile. Ultimately, your specific current insurance premium depends on some standard car insurance factors, such as age, driving history, location, and marital status.
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Paid mileage insurance can be a good idea for those who don’t drive often. If you typically drive less than 10,000 miles a year, a mileage policy may be the best option at an affordable price. If you use your vehicle for daily commuting, this type of car insurance may not save you much money.
Drivers who tend to get higher rates due to factors like age and driving history can get a good deal on mileage. Mileage-based programs often pay less attention to these factors. Pay-per-mile insurer Metromile has a trial period that can give you an idea of what your pay-per-mile rate might be.
The table below lists several companies that offer per kilometer insurance. In each case, programs are not available in all states.
Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska Nevada, New Hampshire, New Jersey, New Mexico, North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming
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Arizona, Delaware, Florida, Idaho, Illinois, Indiana, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Virginia, Washington, West Virginia, Wisconsin
While pay-per-mile insurance can be a good option for low-mileage drivers, there are other mileage-based car insurance options that may be a better fit in certain situations.
Most mileage-based apps only track miles driven. Some service providers, such as Metromile, track information related to the health of your vehicle, such as fuel economy. On the other hand, safer telematics programs monitor a variety of factors, including distracted driving and hard braking.
Usage-based insurance is similar to payment-based insurance in that it monitors your driving behavior through your mobile phone.