While not the first car insurance company to use a pay-per-mile model, Metromile Insurance
streamlined the process to make it easier for customers to use. Although it’s not as large of a company as other insurance providers, Metromile has grown rapidly in the little time it has been around (since 2011), and it’s looking to expand even further in the near future.
In the article below, Part 1 describes the main difference between Metromile Insurance and other car insurance companies, Part 2 talks about the types of insurance provided by Metromile, Part 3 discusses popular insurance options offered by Metromile, Part 4 covers the discounts offered by the company to its customers, Part 5 lists the states that Metromile Insurance operates in, Part 6 introduces the Metromile Smart Driving App, and Part 7 gives the ratings for Metromile Insurance from the Better Business Bureau (BBB) and A.M. Best.
Part 1 of 7: Metromile Insurance key differentiators compared to other insurance companies
Metromile Insurance bases what you pay for your insurance premiums on the amount of miles you drive. To determine how many miles you have driven, the company issues all drivers a Metromile Pulse device, which plugs into the OBD-II port on your vehicle to give it access your mileage and other vehicle information.
Starting with a base monthly rate, the insurer charges you a per-mile rate. Adding your base rate to your monthly mileage total gives you what you pay per month in premiums. Your premiums are adjusted according to several factors, such as your age, the type of vehicle you drive, and your overall driving history.
Part 2 of 7: Types of car insurance provided by Metromile Insurance
Metromile offers standard car insurance to its customers, including the following insurance types:
- Bodily injury liability insurance
- Property damage liability insurance
- Uninsured/underinsured motorist coverage
- Collision insurance
- Comprehensive insurance
- Medical payments coverage
- Personal injury protection coverage
Part 3 of 7: Coverage options provided by Metromile Insurance
In addition to standard car insurance, Metromile also offers a couple of optional insurance coverage options. These coverage options from Metromile include:
- Rental reimbursement
- Emergency roadside assistance
Part 4 of 7: Discounts you can get through Metromile Insurance
To keep insurance premiums low, Metromile also offers a variety of discounts, including:
- Anti-theft discount
- Multi-vehicle discount
- Defensive driving discount
Part 5 of 7: States in which you can find Metromile Insurance
As a relatively small company, Metromile Insurance operates exclusively in the following states:
- New Jersey
Part 6 of 7: Available Metromile Insurance apps
The Metromile Insurance Smart Driving App
allows you to view data from various trips, including such information as variations in speed, the amount you spend on gas, and how long it takes you to get to your destination.
The app also helps you determine where you are parked and can give you helpful alerts about street sweeping schedules in specific cities to help you avoid a ticket. Plus, the app uses the Metromile Pulse to help monitor your mileage and keep an eye on your car’s health.
Part 7 of 7: BBB and A.M. Best ratings for Metromile Insurance
To check the viability of a company, Metromile customers can check the BBB and A.M. Best Websites for more information.
The BBB rates companies according to the company’s ability to resolve customer complaints. Metromile has received a BBB A+ rating
, signaling to customers that Metromile deals with customer complaints in a timely manner.
A.M. Best rating:
Customers can also check the financial stability of a company through A.M. Best, which rates insurance companies from superior to poor according to each company’s ability to meet its insurance obligations. Unfortunately, Metromile Insurance currently does not have an A.M. Best rating
While Metromile Insurance is a young company, it seems to be on the path to bringing affordable insurance through its pay-per-mile model to customers in its operating areas. With plans to expand into other states, Metromile seeks to bring standard insurance to low-mileage drivers who don’t want to subsidize the driving habits of high-mileage drivers.