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Save Money With A New Kind Of Auto Insurance

 An interesting new business model is taking hold in the auto insurance industry - Pay Per Mile coverage.


Although the notion of a discount for low mileage drivers has been around for some time, this mileage-based pricing approach takes things to a new level. First, the discounts are not just a mere 2 to 5 percent off the regular rates - they can be very substantial. Secondly, the amount of miles driven is monitored with an on-board GPS device. One company, in particular, is taking the lead in mileage based auto insurance. San Francisco based Metromile is expanding nationwide and promising to save lower mileage drivers an average of $500 or more per year. For the purposes of insurance, 'low mileage' is considered to be under 10,000 miles per year. Historically, this would an unusually low level of miles for an American driver (especially in a big city). But with more and more people working from home these days, it's not just 'little old ladies from Pasadena' that are low mileage drivers.


Metromile is rolling out nationwide, but is presently only available in California, Illinois, New Jersey, Oregon, Pennsylvania, Virginia, and Washington. To be notified when your state becomes available, add your information at the company's website - Click Here.

Metromile is not the only game in town when it comes to mileage based rates. Most insurance companies do offer discounts for low mileage drivers. The discount will vary based on the company, but there are two other companies already competing to some extent for this same niche. Esurance and Progressive will partially base your rate on mileage (and also require the use of an on-board GPS monitoring device). One difference is that they are not just monitoring miles driven, but also driving habits (such as hard breaking, which indicates how safe of a driver you are).

Other ways to save money on auto insurance:

  1. Shop out your rates at least once a year (if you are a low mileage driver, ask for a discount).
  2. Raise your deductible for substantial discounts.
  3. Consider dropping collision and comprehensive coverage on older vehicles.
  4. Drop the extra bells and whistles (towing coverage, etc...).
  5. When buying a new car, check the insurance rates before making a final decision.

Helping you make the most of God’s money!

James L. Paris 
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