10 Jan Pay Per Mile Car Insurance is Legit
At the beginning of the year, I always sit down and review the best ways to save money in the new year. While I would prefer to not have a car since I live in a city, it’s actually insanely useful for getting out of the city on the weekends and taking a nice drive along the lake on a sunny summer day! I’ve thought many times about selling my car, but I know I never will. It’s my dream car. While many people want a Ferrari or a Porsche or maybe a vintage Mustang, the only car that I’ve ever really wanted (except for a VW camper of course), was a black on black Lexus Hybrid SUV. Oh man, I’m not really a car guy, but the first time I saw one in 2006 I couldn’t look away. I was like, that’s my car. Ahhh, the 2007 Lexus RX 400h.
I also listened to a ton of Notorious B.I.G in high school and the dude raps about Lexus’s all the time and he loved driving them. So I’m sure unconsciously that has something to do with it.
Looking back I’m also pretty sure that I spotted a trend because Lexus had the first rounded SUV and no pretty much every SUV looks like an old school Lexus one. But I’ve got a pristine original with 62,000 miles on it. When I bought it 6 years ago used after my 1998 Nissan Maxima I’d bought for $800 died, it had 48,000 miles on it.
If you do the math that means I’ve driven a total of 14,000 miles over the past 6 years, or a whopping 2,333 miles per year, which isn’t that much considering the average American guy in my age range drives 17,976 miles a year.
To say the least I don’t drive that much. But I used to pay a ton for car insurance – about $95 a month at one point, which ended up costing me about $1,200 per year after taxes. It always hurt to see that $95 on my credit card bill, so I eventually couldn’t stand it anymore and started searching the big companies for car insurance rates. They weren’t much cheaper. But then I saw a Google Ad (yes they are worth click on sometimes) for a company advertising ”pay-per-mile”.) Whoah…that’s a cool idea I thought.
Pay Per Mile Car Insurance with Metromile
That was 4 years ago when I first discovered Metromile, who at the time was a small start-up in San Francisco, that had an amazing idea for pay per mile car insurance. With pay per mile insurance, you pay a low base rate (for when your car is parked) plus just a few pennies per-mile and your miles are tracked by a little device you hook to your car computer. It also helps you find you easily find your car with the mobile app if you lose it or it’s stolen (def a bonus since I actually have lost my car a few times in parking lots).
But I had no idea how much money it was going to save me. I got a Free quote in 20 seconds that has easily saved me over $2,500 on car insurance over the past 4 years. Probably even more actually, since that’s savings is just based on the $95 I used to pay, but that rate probably has gone up.
And if you know me, then you know I put that savings right into my investments, so the actual value of the $2,500 has grown to over $4,000 over the past 4 years. That’s a lot of money. So stop paying one of those big companies who run all of the ads you see on TV all the time because they are charging you for those ads. Sorry Gecko and Flo, I’d rather not pay for you. I just want amazing car insurance since people drive really crazy downtown where I live and I’m sure I’ll either hit someone or someone will hit me one day.
If you have a car and don’t drive that much, definitely get a free car insurance quote at Metromile. I’m a long-time user and huge fan. It will definitely save you money. Seriously, stop paying too much for car insurance. Take 20 seconds and see how much you will save by clicking the banner below.
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