Insurance for low-mileage drivers


#1

Ok, this sounds like spam or advertising but it isn’t.

Soylent has cut my driving so much that this morning as I was jogging and listening to The Economist, I was very interested when it mentioned a car insurance company called Metro Mile (www.metromile.com). The company charges for car insurance by the mile, so if you don’t drive much, you could save a lot. It gives you a device to add to your car that measures mileage. My payment, for example, could be less than $25 a month since my car is usually parked.

I called and talked to a rep for the company this morning. It is located in San Francisco. Since one of the benefits of Soylent is that you don’t have to make as many trips to stores, this kind of car insurance might be of interest. The Web address is listed above.


#2

Interesting… will check it out. Our car insurance is already super duper cheap (like $50/month or something) since we barely drive at all. But will check this out too, see if they’re reputable etc.


#3

If you drive little enough, it might cost you less (insurance, gas, tags/taxes, depreciation on car, etc.) to just use Uber or Lyft, (I’m talking like once or twice a week.)


#4

It’s not a money saver for me but I love the convenience of Uber since I rarely drive. If I’m going out, even if I’m not drinking, I’ll usually prefer to take an Uber rather than deal with traffic


#5

I love the idea of Uber, but I live a little too far out in the sticks for it to be actually practical, I think.


#6

I love the regulation and paying-taxes of cabs, especially since the Flywheel app has been working pretty well for me. (I can usually see that there’s a cab a few minutes away on the app, and book it.)


#7

I know where you’re coming from, but honestly my experience with Uber has far surpassed my experiences with taxi cabs. Regulation will be coming down hard with Uber and Lyft, and already has in many cities, so the line will probably be a lot more blurred before long, but until then I consider myself an early adopter (I mean, I backed Soylen 1.0, so…)


#8

Oh, I’m not concerned about my individual experience–which I’m sure would be fine with Uber–just the society-in-general thing. (And the way the drivers are treated.)


#9

According to this guy’s comparison, it can actually be cheaper to use Uber/Lyft than own a car:
https://www.thezebra.com/insurance-news/848/uber-vs-lyft/

These were the costs he worked out for himself, although his car payment is below the national average, so most people would have a higher cost of ownership than he does:

According to the survey’s of drivers that I have seen, the drivers are much happier with Uber/Lyft than traditional taxi companies. Of course, there are a lot of factors at play.

As far as consumers go, having things like drivers being tracked and ratings systems have increased customer satisfaction dramatically over traditional cab companies. (The drivers have an incentive to not get rated down so they do things like give out bottles of water and try their best to please customers.)


#10

Interesting… we do own a car but it’s 13 years old and has no payment. My concern with Uber would be that our driving is frequently spontaneous (like right now, suddenly decided to go out to eat… leaving as soon as I hit submit) and arranging for an Uber or Zip car or whatever could be an issue with such spontaneity, as well as for stuff like grocery shopping, misc. errands, the occasional trip of 50-200 miles, etc. Nice idea and I can see how it could work for some in some places, but I’m not so sure it would work that great out here in the suburbs of Silicon Valley, even with as little as we drive (well under 500 miles/month)


#11

I completely own my van. I’m waiting for Elio before getting anything to keep it affordable. I don’t need regular car most times, just drive myself most times.

I’m keeping my van for more than 2 people rides though, as well as bring cargo!


#12

They don’t seem competitive on older cars though. I carry high liability on an older car (90’s) and the base rate assuming 0 miles is about what I pay for slightly higher coverage insurance through progressive. Add the per mile fee on top and it’s more than I pay for progressive. This vehicle only goes about 3,000 miles a year so I like the idea but it doesn’t look like it’ll work for me. I’d guess that on a newer vehicle or perhaps if you went with the minimum required insurance coverage it might be a better deal - i don’t know.

The Elio has intrigued me for years. I think the earliest estimate I saw for when they’d get it on the road was mid-late 2012. That was when they were looking at the Pontiac, Michigan plant to build it of course. Cheap car, high mpg, lets you use the carpool lane as a single occupant vehicle, and a unique look are all good things in my book.


#13

Indeed. Now it says mid-2016 but I assume late 2016.


#14

Those elio cars are hideous.


#15

Looks okay to me, I don’ care about looks as long as it gets me from A to B just fine.

I used to have car that looks really bad with dents and “paint” but interior, engine and transmission was in real great shape. I drove it for 9 years before idiot in other car killed it.


#16

When I last updated my state farm insurance agent on the mileage for my car, she offered an inexpensive, low mileage insurance coverage option. I assume it’s in response to companies like MetroMile being successful, and, let’s face it, there are more and more of us who only use our cars occasionally.