Yes, you can buy car insurance by the mile. There are certain insurance carriers that will sell you car insurance by the mile as long as you meet their criteria. To the delight of many, the criteria are not the same as with traditional insurance carriers offering standard coverage.
You can get online car insurance rates by the mile today simply by entering your zip code here!
Car insurance is becoming too expensive to afford for many struggling families. If you have more than one vehicle at home or teenagers in the house, you are probably paying around $3,000 per year in coverage, if not more! Many people are forced to turn to alternative means of transportation or creative ways to save on their current coverage.
If you are one of those who have SR22 or FR44, then you may be interested in buying car insurance by the mile. Some may not have the luxury of purchasing this type of coverage if you have a long commute back and forth to work, or have to use your vehicle for work. This is not a good form of coverage for your average soccer mom either.
Who would be a good candidate for car insurance by the mile?
If you have a second car that sits as a backup just in case your everyday car or truck breaks down, you may want to inquire about a policy that you pay by the mile. More and more home businesses are cropping up everywhere, which makes these people good candidates for car insurance by the mile as well. There are also those who work so close to their jobs, and within walking or biking distance to shopping, and they may also benefit from this increasingly popular form of coverage.
How can you buy car insurance by the mile?
Buying car insurance by the mile only requires a few things:
- Your location
- Your age
- Your vehicle’s make and model
Insurance carriers of this sort sell coverage plans on different levels or increments. The carrier takes an odometer reading from you, and you are charged an average of five cents per mile. The increments start at 1,000 and you can purchase up to around 6,000 or more, depending on which company you choose as a carrier. Your coverage generally lasts six months before it expires.
Your credit or discounts are not a consideration, nor do you have to worry about your driving record. Once you have used your covered mileage, you simply have to purchase more coverage. The insurer has its own methods of tracking you; however, if you know you purchased 6,000 miles of coverage and go over it, you simply pay for the additional amount.
Can you buy car insurance by the mile if you have a specialty vehicle?
Specialty cars and vehicle owners usually buy specialty insurance for drivers who drive less than 12,000 miles to 14,000 miles per year. These drivers are aware of the savings attached to vehicles they only drive on special occasions. Some of these vehicles include:
- Classic cars
- RV
- Antiques
- Luxury cars
- All-terrain vehicles
There are others that may fit into this category as well.
Can you buy car insurance by the mile for rentals?
Rental cars and trucks are usually rented with the offer of high-priced insurance coverage. Many renters have their own policy that carries a rental car inclusion. If you want to purchase by the mile, your coverage is limited. In Texas, that restriction is 25/50/25 for liability minimums only.
Can you buy car insurance by the mile if you own a dealership?
Since car insurance by the mile is such a new concept, it is not an advertised option for dealerships. Dealerships have a specific need for more comprehensive coverage as opposed to liability coverage. Therefore, this type of coverage may not be readily offered. Another factor to consider is that dealers get fleet discounts, while insurance by the mile does not consider multiple car coverage options.
Can you buy car insurance by the mile anywhere in the country?
As it stands now, car insurance by the mile is limited to a few states such as Texas, Illinois, and California. Since it is becoming such a popular affordable option, the idea is sweeping the country. If enough people in other parts of the country were to ask their agents or make more Internet inquiries, it would not be long before it is offered by top major carriers throughout the U.S.
Online car insurance quotes by the mile are available today, with only your zip code entered here!
