The best car insurance options for low-mileage drivers are Nationwide, Travelers and USAA, based on our analysis, which factored in costs, coverage options, complaints and collision repair..
When looking solely at costs for low-mileage car insurance, USAA is the cheapest (but is only available to those with a military affiliation). Travelers and Nationwide are the next cheapest companies—whether your annual mileage is as low as 3,000 or up to 11,000.
Low-Mileage Car Insurance Costs by Company
Pay-Per-Mile Car Insurance
Another option for low-mileage drivers is pay-per-mile car insurance. This type of policy takes into account the actual miles you drive, which gives you more control over what you pay.
A pay-per-mile car insurance policy has a daily or monthly base rate determined by traditional rating factors such as age, credit, driving record, location and vehicle. This rate typically remains constant, while your additional per-mile rate varies based on the actual miles you drive. If you drive less in one month, your rates will go down.
Pay-per-mile example: Say you have a $50 base rate with your pay-per-mile insurance and a $.07 per-mile rate. If you drive 400 miles in a month, you’ll pay a total of $78 that month (400 miles x $0.07= $28 + $50 base rate = $78).
Most pay-per-mile car insurance companies require you to use a smartphone app or a device plugged into your vehicle in order to monitor your mileage. Some insurers track your miles plus monitor and score your driving behavior. If your driving is considered then your base rate will fluctuate depending on your driving score. In that case, you will want to show excellent driving behavior and drive fewer miles annually to get the best rates.
Auto insurance companies offering pay-per-mile programs include:
- Allstate: With Allstate’s Milewise you pay a low daily rate plus a per-mile rate. In some states, driving behavior is also considered when calculating rates.
- Just Insure: Just Insure offers pay-per-mile insurance in Arizona. Besides miles driven, Just Insure also factors in driving behavior. It calculates a ScoreSafe rating. The better your score, the cheaper your cost per mile.
- Metromile: Metromile only offers pay-per-mile car insurance policies, which have a monthly base rate and per-mile rate.
- Mile Auto: Mile Auto does not track miles with an app or onboard diagnostic but instead has you send a photo of your odometer each month. You pay for the miles driven plus your base rate.
- Nationwide: SmartMiles has a monthly base rate plus a variable per-mile rate based on your actual miles driven.
- Noblr: Noblr is a USAA company, so you must have a military affiliation to buy a policy. Noblr has a fixed rate plus a variable rate based on how many miles you drive and how you drive.
Average Car Insurance Rates by Annual Mileage
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August 25, 2023 at 08:18PM
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Best Cheap Low-Mileage Car Insurance Of August 2023 - Forbes
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