Pay per-mile auto insurance?
 

We have a 6 mo old 2024 Tesla. Our previous Progressive insur was way too much. Contacted our agent who represents many companies and switched to Allstate. Rates good but just got our next 6 month renewal just now and up $500 a year. Crazy

Our record is flawless. And we only drive around the area, about 5k miles per year.

Before I contact the agent, is anyone aware of per-mile car insurance. ie. Pay a fixed monthly charge and $$ per mile. I see that Allstate does offer that, but not in Florida?

Anyone???

Good question!

How much of your premium is for collision coverage vs Liability, uninsured motorist, under insured motorist, comprehensive and rental car reimbursement. . Also see what it would be with a higher deductible if you feel driving only 5000 miles per year lessens the chance of a claim increase the deductible for a little savings in premiums.

If you can find a company that will do that they will want to install a tracking device in your vehicle so they can monitor you. No way I’d ever let one of those things in my vehicle. On the other hand, you drive a Tesla, so there’s probably already one there?

No problem here with a “tracking device”. We had that with Progressive for a good driver discount. And now with Allstate. They monitor via your cell, and check for hard braking, excessive speeds. We have zero to hide as we are great drivers with a great car.

That said, if we are open to these things we deserve as great rate. Not so with Progressive or Allstate. This is what we get for living in Florida I guess, so many uninsured drivers etc etc.

Last I checked with another company it was based on being below X miles a year (doubt any have an per mile) and I don’t remember a large reduction in cost for the hassle of being monitored for harsh braking, speed, and miles, etc. If you feel you’re a decent driver raise the deductible.

Most car accidents occur between 5-15 miles from home. Insurance companies know this. If you're the "little old lady who just drives to church on Sundays and the grocery store a few times a week" you're at a higher risk of a collision than someone who commutes 30 miles to work. My insurance was lower when I lived 30 miles away from work, than when I worked part time 2 blocks away from home and the insurance company flagged me as someone who basically only drove for leisure.

Most new cars already have the device installed and they sell your driving habits to the insurance companies. A few years ago only two manufacturers sold the information but now they all do it.

If got vehicle less than 3 years old they are probably tracking it anyway. Several utube video’s on people finding tracking devices on new car they brought.

So, someone pulls out in front of you and you slam on your brakes and get ding for avoiding accident?

I have that with Allstate, but my friend checked into it and they are no longer doing it.

mileauto.com insurance, been using them for 6 months and saving about $150/mth for same coverage. all base on mileage driven each month

The driving results are over a six month period on my policy so one slamming on the brakes incident is insignificant in the big picture, it’s all about patterns.

here are my premiums: POLICY PREMIUM SUMMARY (6 mo.)
$406.93 plus
$0.083 per mile (2023 Hyundai SANTA FE)
$24.00 prorated policy fee
I rarely go over 500 mile in a month

How does Mile collect my monthly mileage information?
At Mile we don't require you to plug a "black box" tracking device into your car. We don't like the thought of your car "spying" on you. Instead, our MVerity system will send you a series of monthly reminders via text and email when it's time to send in your odometer reading. Each text and email will have a hyperlink that you click on to automatically open the camera in your smartphone. Simply take a photo of your odometer, and the image is automatically transmitted to our computers where our MVerity system takes care of the rest. MVerity extracts your odometer data, confirms the vehicle and authenticity of the photo, and then compares it to previous odometer readings. You just snap the photo and MVerity does the rest.

Big brother is watching us....

Yep. I have Allstate and did the same thing. Within about a month I got $177 discount off my six month policy.

The older you get the higher your insurance premiums will be. You are also driving a vehicle that is very expensive to repair and some parts take months to obtain

Progressive is keeping me but they went up 500$ Went up to 2200$. I’m looking into a company named Kin. 1500$ for the same coverage. Will see

I have used Kin Insurance for my house the last 3 years and I’ve been please. I can’t for auto due to my full time residence is not in Florida yet. Haven’t retired

hmmm, just went into the site. Filled out all the data/questions...many. Motorist Stacking
received>>>>
(03): Unfortunately, we cannot offer you a Mile Auto policy at this time. Thank you for considering Mile Auto!

Perhaps because it's a Tesla? Will call them to confirm...

You /saved/ $150/month for auto coverage? Jeez that's horrible. I don't even pay that much for coverage, on two vehicles. PIP, collision, comprehension, glass replacement, rental option. We get tons of discounts and now pay something like 1600/year for both cars combined.

Best to move someplace where it is safer.

Have you driven in the villages lately? Some of the worst drivers thru roundabouts. I see it everyday where somebody does a stupid thing, so I can see we can be at more at risk here.
The worst way for an insurance company to monitor your driving is using your iPhone. The worst with many many issues with it. I’ll write about this later today. The plug that plugs in your car is much better but till has many flaws. For example, if a dog runs in front of your car, do you get a ding on your insurance for slamming on your brakes or do you just run it over to save on insurance?

Can you source this claim? It would seem illegal without consent.

I’m actually considering selling everything, going dual golf cars, and Ubering locally or renting for longer trips.

Which insurance company is that?

We need watching, as many drivers think driving is a video game where you get multiple lives. The aggression I’m met with when I drive using cruise control at the posted speed is practically harassment. And, YES, I know to keep right except when passing.

The sooner we’re all forced to comply with the driving laws, the better.

That's the nationwide average. No matter where you live, you are more likely to have an accident within 15 miles of your home, than somewhere further.

Allstate. We've been Allstate customers since both our parents had it for THEIR insurance. When we became adults, we both ended up sticking with Allstate. When we got married, we stayed with Allstate. Now that we're seniors, we still have Allstate. So we get longevity discounts (there's more than one), multi-vehicle discounts, senior discounts (there are more than one type), safe driving discounts plus Drivewise on my cell phone (that's the tracking thing) but not on hubby's (he doesn't trust the intrusion) so that gives me another discount. Back when we lived up north we had homeowners with Allstate so we had a discounted umbrella policy, but they don't insure manufactured homes so we couldn't get Allstate down here. We do, however, also have our golf carts insured with Allstate and get discounts for that as well.

But yeah we're discounted up the yin-yang.

I have it and pay $184.00 every two months. See Bascom Insurance Agency!

That was a joke. Guess I should have included a smiley.:laugh:

Tesla Insurance
 

As noted in a previous post, you will be hard pressed to find “cheaper” insurance for a new Tesla. While your mileage and driving record do impact pricing, the biggest impact is the car itself. The smallest bumper incident will cost $1,000s due to all the high tech in a Tesla. Cameras, sensors, etc all have to be recalibrated or replaced at very high cost, if you can get the parts. It’s the price we pay for being able to drive such a great car. Personal auto is a money loser for many, if not most, insurers.

No shortage of shoulda coulda mightas. With little driving why own a Tesla-an expensive car and then complain about insurance cost. An option is to purchase a car that is a collector item and insure it as a collector item. Cost per mile insurance, be sure to ask how fire and theft works.

IF, you lease the car or have a loan on it options may be limited. If, you increase the deductible, you are self insuring whatever the deductible is. A higher deductible and you pay less for insurance but are also getting less-you pay the first $1000 or whatever the deductible is. It does pay to shop around. People tend to think I've been a loyal customer. Actually they offer lower rates to new customers-to attract new customers. All insurance companies are good at taking your premium be sure to check how well they do on payout.
Insurance. You are paying a company to assume part or all of your risk. They do not all use the same charts to access the risk. Driving record. driver age, married, home ownership even credit score, mileage, garaged are all in there Florida is famous for truly INTERESTING drivers.

If you sign up for State Farm drive safe and save with the beacon, you get a basic discount no matter how you drive and they cannot take the discount away. This is according to the very young male agent I used. If your beacon shows you are indeed driving safely most of the time, the discount increases. Often we forget to have our cell phones on Bluetooth so no recording often gets missed. We record our mileage for them when requested maybe every other month. It saves us at least several hundred dollars a year on three vehicles. On newer cars they probably have access to that information anyway and if you cause an accident they could probably legally retrieve it.
There are many factors that determine your rate and everyone is unique as to the combination of driving record, credit score, type of vehicle, age, gender, zip code, etc.
The Villages has a very high accident rate, according to my agent.

[QUOTE=DAVES;2396588]No shortage of shoulda coulda mightas. With little driving why own a Tesla-an expensive car and then complain about insurance cost. An option is to purchase a car that is a collector item and insure it as a collector item. Cost per mile insurance, be sure to ask how fire and theft works.

??? Our new Tesla was no more expensive than a "regular" car. I am NOT complaining about the insurance cost. Just inquiring re less expensive coverage. Why must some here be so critical when you don't even know us? "why own a Tesla"???? omg....

Your new Tesla was significantly more expensive than a "regular" car.

The cheapest stripped-down Tesla available is a basic Model 3. STARTING price for those is $42,490.

Compare to the cheapest stripped-down Hyundai Elantra (gas), at $21,875. That's more than $20,000 less expensive.

If you want to compare like with like, then compare with the Elantra electric, which is $39,950, or around $2500 cheaper than the stripped-down Tesla.

I think people who can afford to buy expensive cars and think they're no more expensive than less expensive cars, have a certain blindness to the reality of the majority of this country's affordability.

A REGULAR car as we noted would be the Accord or Camry, both equipped well upper $30's+ Out Tesla got the $7K rebate, so..... ours has EVERYTHING and zero gas. enough already.

Do not get, I repeat, do not get the iPhone/android insurance app for your car insurance!!! Why?? The app is stupid. You want the app to capture miles put on your car, track braking, and even if your on the phone while driving. Correct??? If so, then you don’t want this and here’s why:
1) if you and your wife/spouse are in the same car, you are counting the miles you traveled by 2x! You as the driver put x miles on this trip and your wife put on x miles on this trip. Remember the app is stupid, it doesn’t know if you are the driver or not. So let’s take this further;

2) say you are in your golf cart, your app is stupid and thinks you are putting miles on your car and if your wife is with you, it’s 2x the miles. It even gets better;

3) you are riding in a friends car, your insurance app thinks you are driving and it adding mileage to your account. 2x if your spouse is with you. Gets even better;

4) while riding with your friend and he’s speeding and breaking hard, it goes against you. Remember, the app is stupid, doesn’t know if you are in a golf cart, a passenger in your car or a neighbor’s car.

5) say your spouse is with you and she is the passenger and starts talking on the phone. You get dinged because the app doesn’t know that you are a passenger, the driver, in a golf cart or in somebody else’s car.

I brought all of this up with the insurance company that wants us to use these apps and had to go thru tech support and they agreed with all of this. They did say, to solve any of these issues, they wanted m to log onto the insurance website and modify my travel record to tell them I was a passenger or in somebody’s car or both my spouse and I were traveling together and they wanted me to keep this data up to date. Life is too short and not worth the hassle.

^well you cannot tell us what exactly the apps name is or what company is driving it (no pun intended).

We use "SnapChat" on Progressive Auto. Never liked the idea but it is saving us about $500 this year. All said here is true about the program. Hard to believe that they "Ding " you for driving less and driving sporadically. You would think that would be safer than driving many miles in heavy traffic every day? Not happy, felt this was a hit on older (Retired " ) folk.

Pretty sure all cars these days have some sort of tracking device.

I had the AllState device. We drive so infrequently, it kept draining the battery. At least we knew when to charge the battery as we'd get an email saying out device was unplugged.