I’m sure everyone has heard that you can ‘Save 15% or more by switching to Geico‘ in recent years. Well today I’m here to tell you that you can save up to, or more than 50% by switching to Metromile. Now, be aware that this company is directed towards drivers who do not drive all the time. But if you drive around or less than 8,000-12,000 miles a year, (12,000 miles is the national average) you should still check this out.
How does it work?
They way Metromile works is extremely innovative. First, you pay a base rate each month, so even if your car sits and collects dust, and you don’t drive a mile, you’re still responsible for a payment. Next you’re billed by how many miles you drive each month. They way they’re able to track this is with a device that goes into your OBD-II port. (I had no idea what that was either, don’t sweat) 🙂
When you sign in, you put in your information about yourself, your car, and other personal information (birthday, relationship status, drivers license #, etc.). Next you are directed to a ‘quote builder’ where you can see in real time what your policy covers, what kind of deductibles you’re responsible for, and other related services. While all of this is happening, you’ll be able to see the price dynamically change your base quote and per mile rate. It’s So COOL! We’re no longer hidden in the dark from our policy creators.
Why did I switch?
Before I switched to Metromile I had State Farm insurance, because that’s why my parents had. When I tried to leave State Farm they were insistent that I couldn’t find a better rate anywhere else because I had so many ‘discounts’ for being a loyal member.
But in reality, I am one of the most ‘dangerous’ drivers according to actuarial scientists. Lets’s take a look at the facts. I have a new-ish car (2012 VW CC) , I’m in my mid-twenties, male, and I’m single. According to the current data model, that makes me a dumpster fire of catastrophic disaster, destruction, death, and doom of potentially causing harm. Insurances companies are doing everything in their power to inflate their rates to help their stock holders.
I had State Farm when I lived in Indiana, Ohio, and in California for a short period of time. I paid around $90 in Indiana and Ohio, and my rate got bumped up to $130 in California AFTER I decreased my liability from 100K/300K/100K to 50K/100K/50K. In California I was paying nearly 50% more for a liability policy that was half as good. I felt like I was throwing my money away. I found Metromile by surfing on the internet and the rest is history. I encourage you to input your information in the quote builder and see how much money you can save. Depending on your situation (maybe you drive a lot for work), Metromile may not be the best solution for you, but I’d say for the vast majority of drivers, Metromile is providing a service that is critically innovating the insurance industry.
How are they able to do this?
You might ask, why are they able to offer prices this low? It’s almost certain that they selling data to large corporations like Google, Tesla, GM, etc. I haven’t read this anywhere, and it is my own personal speculation, but they would be foolish not to. Another reason worth switching is this tracks your miles with extreme accuracy. Within the app, you’re able to see what trips you’ve taken, how many miles you’re being charged, and the estimated fuel cost. If you track your miles for work, this doubles as a valuable tool.
What if I decide to take a long road trip?
This is another feature worth noting. You are only tracked a maximum of 150 miles each day. So go ahead and take a road trip to Mount Rushmore, or Yellowstone National Park. Go visit your loved ones back in the Midwest, or where ever you’re originally from. You can road trip without breaking the bank.
How do I sign up?
If this blog post has at least made you curious, I encourage you to build your quote. It takes less than 10 minutes. Below is my exclusive link. You’ll help me out by using this.
If you have questions feel free to check out their FAQ’s or I’ll be happy to answer questions in comments.
Thanks again for reading and have a great day! 🙂