What Are The Best Companies For Usage Based Insurance?

Updated: Sep 27, 2021

If you're a licensed and insured driver, learn how usage based insurance can save you up to 10-15% a year in car insurance.


Usage-based car insurance is great for those who drive less, such as work-from-home employees, retirees, and stay-at-home parents. This program provides more control, transparency, and significant savings on your insurance costs.


Fortunately, many companies are offering usage-based auto insurance and choosing the right one can be a challenge. To narrow down your search, we’ve listed below the best companies for usage-based insurance.


Allstate


Allstate, an Illinois-based telematics company, provides Milewise – a new kind of car insurance depending on the miles you drive. This pay-per-mile insurance program helps those who travel short distances save 20-70% on premiums.


The company provides all tools to help customers understand their policy and determine their car insurance coverage needs. The Allstate team is available 24X7 to support customers.


Milewise coverage options include collision, sound systems, uninsured motorists, liability and medical payments, cost to replace car door, personal injury protection, car salvage value, and more.

Nationwide


Nationwide is a leading insurance and financial services company in the USA. It offers a specialized usage-based car insurance program named SmartRide for low-mileage drivers.


With SmartMiles, you earn an instant 5% on signing up and could get up to a 15% discount depending on the number of miles you drive. Most cars manufactured after 1996 can benefit from this program.


As you sign up, Nationwide sends you a SmartRide device that plugs into your car and measures your driving patterns. You can track your discount online and get feedback on your driving habits. Finally, send back the device to the company and lock your discount, which applies to your next policy renewal.


Liberty Mutual


Liberty Mutual’s RightTrack program rewards you for safe and less driving than an average driver. The RightTrack tracks total miles driven, braking, acceleration, and night-time driving.


With the right behavior, you can save up to 30% on your auto policy. Plus, you get assured discounts for signing up to RightTrack. The final discount applies to your vehicle or their replacement for your policy's life.


To participate, you need an eligible vehicle and a valid email ID. Most cars of model-year 1996 and newer qualify for this usage-based insurance program.


State Farm


With StateFarm’s Drive Safe & Save program, you can save up to 30% on your car insurance premium. The Drive Safe & Save app monitors your driving habits, speed, and frequency. Accordingly, you get the best discounts on insurance by driving safer, smarter, and less.


You will always get a discount on your insurance policy with this licensed and insured program. Although, the discount varies from term to term, according to your actual driving.


Progressive


Progressive is a leader in the usage-based insurance industry. The company provides a Snapshot program that offers fully customized car insurance rates according to your driving patterns.


With Progressive’s Snapshot program, you can save an average of $150 and even more. Anyone can benefit from this program - Progressive customers and non-customers. Simply take the Snapshot Road Test to figure out how much money could you save before buying a car insurance policy with Progressive.


GEICO


GEICO’s DriveEasy helps make everyone a better driver and helps them make significant savings on their insurance bill.


Install the GEICO app on your smartphone and enable settings. The app tracks your driving automatically. You don’t need to open the app every time you drive. It does everything for you behind the scenes.


The better and safer you drive, the better your score and the more you save on car insurance. This usage-based insurance program covers bumper repair costs, cost to replace car doors, dent repair costs, and more.


Metromile


Metromile claims that its customers save up to 47% on average compared to what they pay with traditional auto insurance.


With this pay-per-mile car insurance program, you pay a low monthly rate, plus just a few cents for every mile you drive. All miles more than 250 (or 150 in New Jersey) in one day are free.


You can choose from flexible coverage options tailored to your unique needs. Metromile usage-based insurance covers body damage, car key replacement cost, Underinsured Motorist Property Damage (UMPD), collision coverage, medical coverage, and more.


Final Words


Most major insurers facilitate usage-based car insurance programs. It’s wise get multiple online auto insurance quotes to compare premiums, coverages and the ability to save with a usage-based insurance program.

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