When it comes to car insurance, there are many different providers and policies to choose from. One newer option is Mile Auto Insurance, which is a pay-per-mile insurance provider. This review will cover the basics of Mile Auto Insurance, its coverage options, benefits, and drawbacks, as well as frequently asked questions.
What is Mile Auto Insurance?
Mile Auto Insurance is a unique insurance provider that bases your insurance rates on how much you drive. The idea behind Mile Auto Insurance is that you only pay for the miles you actually drive, rather than a flat rate for coverage, which can save you money if you don’t drive very often. Drivers who drive less than 10,000 miles a year are typically the best candidates for this type of insurance.
Founded in 2016, Mile Auto Insurance is a new player in the insurance industry, but it has already gained a lot of popularity due to its unique approach to car insurance.
How Does Mile Auto Insurance Work?
Mile Auto Insurance’s pay-per-mile policy is easy to understand. You pay a base rate, plus a rate for every mile you drive. When you sign up, Mile Auto Insurance will install a device in your car that tracks your mileage. Your monthly bill will be based on the number of miles you drive each month.
If you don’t drive at all, then you won’t pay anything beyond your base rate. If you drive more than your allotted miles, then you’ll be charged extra for those miles at the end of the month.
Mile Auto Insurance also offers a range of traditional insurance coverage options, including liability insurance, collision insurance, comprehensive insurance, and more. You can choose the coverage options that make the most sense for your driving habits and budget.
Benefits of Mile Auto Insurance
There are many benefits to choosing Mile Auto Insurance for your car insurance needs. Here are a few of the most notable benefits:
Benefits |
Explanation |
Lower Rates |
If you don’t drive very often, Mile Auto Insurance can save you money on your car insurance rates. |
Customized Policies |
You can choose the coverage options that make the most sense for your driving habits and budget. |
No Hidden Fees |
Mile Auto Insurance is transparent about its pricing structure, so you won’t be surprised by hidden fees. |
Drawbacks of Mile Auto Insurance
While Mile Auto Insurance has a lot of benefits, there are also some drawbacks to consider. Here are a few of the most notable drawbacks:
Drawbacks |
Explanation |
Higher Mileage Rates |
If you drive a lot, your per-mile rate will be higher than with a traditional insurance policy, which could end up costing you more in the long run. |
Less Flexibility |
If you need to change your policy mid-month, it can be difficult to do so with Mile Auto Insurance. |
Limited Availability |
Mile Auto Insurance is not available in every state, so it might not be an option for everyone. |
FAQ About Mile Auto Insurance
How do I sign up for Mile Auto Insurance?
You can sign up for Mile Auto Insurance online or by phone. Once you sign up, Mile Auto Insurance will install a device in your car that tracks your mileage.
What happens if I drive more than my allotted miles?
If you drive more than your allotted miles, then you’ll be charged extra for those miles at the end of the month. The per-mile rate for extra miles is higher than the base rate, so it’s best to try and stay within your allotted miles to save money.
How does Mile Auto Insurance determine my base rate?
Your base rate is determined by a variety of factors, including your driving record, the make and model of your car, and your location. You’ll be given a personalized rate based on these factors when you sign up.
What kind of coverage does Mile Auto Insurance offer?
Mile Auto Insurance offers a range of traditional coverage options, including liability insurance, collision insurance, comprehensive insurance, and more. You can choose the coverage options that make the most sense for your driving habits and budget.
Is Mile Auto Insurance available in my state?
Mile Auto Insurance is currently available in 12 states: Arizona, Georgia, Illinois, Indiana, Maryland, Ohio, Oregon, Pennsylvania, Texas, Utah, Virginia, and Washington. Check the company’s website for the most up-to-date availability.
Conclusion
Overall, Mile Auto Insurance is a solid choice for drivers who don’t drive very often and want to save money on their car insurance. With its pay-per-mile policy, Mile Auto Insurance offers a unique pricing structure that can save you money if you don’t drive very much. However, if you drive a lot, a traditional insurance policy might be a better option for you. As with any insurance provider, it’s important to research your options and compare rates before making a decision.
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