Mustachian insurance company "Metromile"

[SimpleSpartan]

Found a very mustachian insurance company that has a very low monthly base rate which then adds a few cents per miles driven.

"you don’t use your water or electricity at home, you don’t pay for it, right? With their pay-per-mile insurance, Metromile Auto Insurance uses this same concept to help customers who drive less than 10,000 miles per year save $500+.

Let’s say you have a base rate of $35 per month, plus $0.05 per mile. If you drove 5,000 miles per year, you’d pay a total of $670 in total, or about $55 per month.
$35 base rate X 12 = $420
5,000 miles X $0.05 per mile = $250
$420 + $250 = $670 per year

Looks like they have multiple packages and deductibles you can choose from as well

heres the link to the review page I found it on http://www.highya.com/metromile-reviews
official site https://www.metromile.com/

thoughts?

[ketchup]

It looks great.  I'd be interested if it were per-hour instead of per-mile (GF uses the car only about 4-5 times per month, but usually 200-300 mile trips).

[Mr. Green]

I suppose it all depends on your current insurance rates. I think ours are already pretty good without having to pay per mile. We have State Farm and pay $488 a year for 250/500 liability coverage, 500 deductible for comprehensive, 1000 deductible for collision, rental coverage. That's for a 2013 Elantra so I suspect an older car would be even cheaper. Of course there are multi car discounts and home/auto discounts if you have policies with the same company so there's that to consider. We also have a 2005 Chevy Cobalt we carry liability only on for $248 a year.

[dividendman]

I use it. It's great for low mileage users. Also, if you do go on a trip  it doesn't charge you more than 100 miles a day so for someone who doesn't use their car much but goes on a few road trips a year it still makes sense.

It also has nifty metrics for your car on their site (if you don't mind loading the GPS and have it track you). It shows you how much you commute every day, your actual MPG, when your commutes are the longest/shortest, any alerts on your car, etc.

All in all I'm pretty happy with it (average about 3k miles a year).

If you're an Uber driver it syncs with that too (I think Uber owns it or something) so that the miles you are driver for Uber aren't billed. I'm not an Uber driver so I can't comment on that aspect very much.

[sisto]

They don't even come close to my current policy which was very disappointing. I don't drive many miles either so I thought it would be cheaper.

[Fireball]

They don't even come close to my current policy which was very disappointing. I don't drive many miles either so I thought it would be cheaper.

Same here. It was going to 2x more expensive than my current coverage. I think it's one of those YMMV things due to so many factors involved.  I do love the idea of paying per mile and it may indeed become cheaper as it goes more mainstream.

[wonderjunkie]

I used Metromile for about 7 months when I lived in Virginia. I telecommute and was in a highly walkable area, so I only needed to use my car once a week or less. It cost me a little over $20 per month, with maxed out deductibles. I opted out of comprehensive and collision coverage, as the car was a 2003 Kia Spectra. They also offered roadside assistance without requiring full coverage, which was something I was not able to get with Geico or Progressive. I was able to take advantage of it a few times and it was nice not to have to pay anything.

It was definitely the cheapest car insurance I've ever had, by far. Unfortunately, it is only available in a handful of states, and not the one in which I now reside. Your mileage may vary. :)

[Joy]

I switched to Metromile in July and I am very happy with the savings. We have paid $38 per month for coverage on two vehicles (one full coverage and one with liability). Prior to switching, the lowest policy I could find was $50 per month.  It sends me alerts about parking restrictions in my neighborhood which is a nice protection against parking tickets.

[MrSal]

Its really nice!

I have to check what the miles average for my wife has been for the last 12 months... she works across the street so she uses her car very little.

We currently have Farmers insurance and we already pay very little at 237 dollars every 6 months for 2 vehicles.

I, myself did 13000 miles last year, but a lot of those miles were long trips where it was more than 150 in one day (I would say maybe 3-4k of those miles, so I would never be charged more than 150 miles that day). However this year has been very low miles for my car as well. I doubt Ill have more than 5000 miles if at all!!