Stay at home = lower car insurance?

Yesterday I got thinking… Now that my wife and I are stuck at home, I wonder if my car insurance company will lower my rate? (Based on the logic that we can’t drive our cars right now, and if quarantine continues into the year, we will be putting way less miles on our cars than we usually would.)

Less driving = less risk to insure = lower rate. Makes sense to me!

So I called my insurance company (GEICO) and told them instead of driving about ~10,000 miles this year (between both me and my wife’s car), we will probably only be driving about 5,000 miles.

They gave me a $320 discount instantly. Woo hoo!

After that call, I wondered what other companies offered low-mile insurance plans. I came across a company that offers pay-per-mile insurance, called Metromile. I actually ended up switching to them and I’m looking at a total savings of about $500 annually. Booyah!

Anyway, I wanted to share this with you because maybe you are going to be working from home and putting less miles on your car too? Maybe you can ask your insurance provider to re-calculate your policy based on your new 2020 estimated milage?

Good luck!
– Joel

PS. If you live in one of these states (WA, OR, CA, AZ, IL, PA, VA, or NJ) and have 2 cars, email me if you want more info on Metromile and what I signed up for. I don’t get referrals or anything… Just sharing the good word!