No, Geico does not offer pay-per-mile insurance. Geico does have a low-mileage discount for people who drive fewer than 7,500 miles per year and a usage-based insurance program called DriveEasy that can make car insurance more affordable. Registering for Geico’s usage-based insurance program could save drivers up to 20%.
Alternatives to Geico Pay-per-Mile Insurance
The Geico DriveEasy app monitors driving habits like speeding, hard braking, total mileage, and more using your phone’s sensors and GPS location. Geico uses this data to calculate a driving score and adjust your premium discount.
Usually, car insurance rates are determined by a driver’s history on the road as well as factors like age, credit score, and zip code that help insurers predict future driving behaviors and levels of risk. Usage-based programs like the DriveEasy app, on the other hand, show insurance companies your actual level of risk, so drivers only pay for the insurance they need.
Pay-per-mile insurance is a bit different, since it involves paying a base rate plus a per-mile fee. It’s currently offered by one provider, Metromile, in just eight states. Geico may be able to provide more robust coverage just as affordably, though, because they offer such a wide variety of discounts. But if you need cheaper, low-mileage coverage, you should make sure to compare rates from at least three insurers to confirm you get the best price for your unique needs.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines
. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.