At Metromile, we handle premiums a little differently than your mom and dad’s car insurance.
Instead of paying for auto insurance you might not be using, we charge you for the miles you drive. So if you’re a low mileage driver, you could save money with our pay-per-mile auto insurance policies.
In light of the coronavirus pandemic, we’ve found many people are driving less, which has them rethinking their car insurance needs. When was the last time you took a look at how much you’re paying for insurance?
What determines your auto insurance premium?
With Metromile, how many miles you drive is one of the most significant factors in determining how much you pay for auto insurance.
So if you’re driving less during the COVID-19 pandemic, you could save money on car insurance.
Metromile also might consider factors like:
- What type of car you drive
- Your driving record
- Where you live
- Your age
- Your credit history in some states
- Your gender in some states
- Your marital status in some states
Of course, the type of auto insurance you have, your coverage levels, and your deductible amount also play a big role in determining your premium.
The most affordable type of auto insurance generally includes only liability coverage, which means an insurer may help cover the damages and injuries you cause to other vehicles. You might want to add more coverage to protect your financial wellbeing and vehicle if something happens.
Your coverage levels — or the maximum amount of money the insurance company will pay you after an accident — also determines how much your premium costs, as does your deductible. Your deductible is the amount you pay after an accident before your insurance coverage kicks in. As your deductible increases, your premiums tend to go down.
What does an auto insurance premium do?
Most insurance companies use your premium to provide coverage for claims being made as a part of your policy, as long as the claim is under a covered accident as outlined in your insurance policy contract.
At Metromile, you pay your premium monthly. The premium comprises a low monthly base rate plus a per-mile rate, which is typically a few cents per mile.
We provide the same coverage as a traditional insurance company but charge your premium more fairly, based on how many miles you drive. Along with providing coverage in case of an accident, Metromile also provides drivers with smart driving features, which can help you understand your car’s check engine light, keep you from getting a ticket with street-sweeping alerts, and look back at your past trips.
How can you save money on your car insurance premium?
The easiest way to save money with Metromile is by driving less.
With pay-per-mile, the premium you pay is, in part, based on the actual miles you drive. Once you sign up, we send you a device, the Metromile Pulse, which plugs into your vehicle and measures mileage. The device counts your miles, so you can pay less when you drive less.
Besides, you might already be driving less without realizing it.
As a result of COVID-19, many cities, counties, states, and even countries, are issuing everything from travel bans to shelter-in-place and stay-at-home orders. This has led to many drivers hitting the road less often.
The bottom line
If your driving habits have changed, it could be the right time for you to switch to Metromile and pay-per-mile auto insurance.
See how much you could save with a free car insurance quote from Metromile. You can also try Ride Along™ for free.
Ride Along is a free app feature that helps you get a more accurate rate before buying auto insurance. Download the Metromile app to start your trial period, and Metromile will consider your actual driving for about two weeks, including how many miles you drive, to show you your rate. Then, you can switch from your current insurance provider to Metromile; we want you to have confidence you’ll save money before you switch and start your pay-per-mile coverage with us.