Metromile

Metromile Insurance Review: A Comprehensive Guide

This detailed review of Metromile insurance examines its offerings, pricing structure, customer service, and overall value proposition. We'll explore whether Metromile's pay-per-mile model is the right choice for your driving needs and financial situation.

Overview

Metromile, Inc., a San Francisco-based technology company, disrupted the car insurance market with its innovative pay-per-mile insurance model. Founded in 2011 by David Friedberg and Steve Pretre, Metromile initially operated from Redwood City, California, before relocating its headquarters to San Francisco in 2013. The company's expansion included new offices in Boston and Tempe in 2015. A significant milestone was reached in September 2016 when Metromile secured $192 million in funding, enabling it to underwrite its own policies. The company's journey continued with a public listing through a reverse merger in February 2021. However, a pivotal moment arrived in July 2022 when Lemonade, Inc. acquired Metromile in an all-stock transaction.

Key Milestones in Metromile's History:

• 2011: Founded by David Friedberg and Steve Pretre.
• 2013: Headquarters relocated to San Francisco.
• 2015: New offices opened in Boston and Tempe.
• September 2016: Secured $192 million in funding.
• February 2021: Became publicly listed.
• July 2022: Acquired by Lemonade, Inc.

Regulatory Compliance and Licenses

Metromile operates within a defined geographic area, holding the necessary licenses and certifications to offer its services in eight states: Arizona, California, Illinois, New Jersey, Oregon, Pennsylvania, Virginia, and Washington. The company maintains compliance with all relevant state insurance regulations.

Insurance Products and Services

Main Insurance Products

Metromile's core offering centers on personal car insurance policies. The coverage options generally include:

• Liability: Protecting against bodily injury and property damage caused to others.
• Collision: Covering damage to your vehicle resulting from collisions.
• Comprehensive: Covering damage to your vehicle from events other than collisions (e.g., theft, vandalism, natural disasters).
• Uninsured/Underinsured Motorist: Protecting you if involved in an accident with an uninsured or underinsured driver.
• Medical Payments/PIP (Personal Injury Protection): Covering medical expenses and related losses following an accident.

While Metromile provides standard coverage options, including the possibility of a collision deductible waiver and roadside assistance, the range of coverage options might be more limited compared to some larger, more established insurers.

Additional Services

Beyond standard insurance coverage, Metromile enhances its offering with:

• Smart Driving Features: The Metromile Pulse device, plugged into your car's OBD-II port, tracks mileage and provides valuable information on your vehicle's health and driving habits.
• Automated Claims: The user-friendly Metromile app simplifies the claims process.
• Vehicle Information: The app offers convenient features like street sweeping alerts and a car locator.

Premiums and Pricing

Pricing Structure

Metromile's unique pay-per-mile pricing model sets it apart. Instead of a fixed monthly premium, drivers pay a base rate plus a cost per mile driven. This structure benefits low-mileage drivers significantly, offering potential savings compared to traditional insurance models. A typical example might involve a base monthly fee of $40 plus 5 cents per mile driven.

Comparative Analysis with Industry Averages

Metromile's average annual premium for full coverage is notably lower than the national average. While specific numbers fluctuate, reports suggest Metromile's rates are substantially cheaper than those of many traditional insurers. This significant difference in pricing highlights the potential savings available to low-mileage drivers choosing Metromile.

Discounts and Special Offers

While Metromile doesn't explicitly list all discounts, the pay-per-mile model inherently rewards safe and low-mileage driving. Implicit discounts could include rewards for safe driving habits and potentially multi-policy discounts if applicable. Specific promotional deals or limited-time offers are not consistently advertised, and the acquisition by Lemonade might affect future pricing and promotional activities.

Customer Service and Support

Contact Methods

Metromile offers various channels for customer communication and support:

• Phone: Provides direct access for inquiries and claims reporting.
• Email: Available for general inquiries and less urgent matters.
• App-Based Communication: The mobile app facilitates communication and simplifies certain processes.

While the app offers a convenient platform for communication, the availability of a dedicated live chat feature might not always be consistent.

Metromile provides 24/7 claims service, ensuring assistance at any time, enhancing convenience for customers.

Pros and Cons of Metromile Insurance

Pros

• Competitive Premiums: The pay-per-mile model leads to significantly lower premiums for low-mileage drivers.
• Comprehensive Coverage: Metromile provides standard coverage types, offering comprehensive protection.
• Tech-Forward Approach: The use of the Metromile Pulse device and the app streamlines the entire insurance experience.

Cons

• Limited Availability: Metromile's services are currently limited to a specific set of states.
• Customer Service Variability: Customer experiences regarding customer service have varied, with some reports of challenges in accessing assistance.

Conclusion

Metromile provides a compelling option for low-mileage drivers seeking affordable car insurance. Its pay-per-mile model, coupled with a user-friendly app and smart driving features, makes it attractive to those who value convenience and cost-effectiveness. However, potential customers should be aware of the limited geographical availability and the mixed reports regarding customer service experiences. Thoroughly assessing your individual needs and comparing prices with other insurers in your area is highly recommended.

Frequently Asked Questions about Metromile Insurance

1. How Much Does Metromile Insurance Cost? The cost is variable, depending on your driving habits and location. It's a base rate plus a per-mile charge.
2. How Does Metromile Track Your Mileage? The Metromile Pulse device, plugged into your car's OBD-II port, accurately tracks your mileage.
3. What Types of Coverage Does Metromile Offer? Metromile offers standard coverage options, including liability, collision, comprehensive, uninsured/underinsured motorist, and medical payments/PIP.
4. How Do You File a Claim With Metromile Insurance? Claims are conveniently filed through the Metromile mobile app.
5. What States Offer Metromile Car Insurance? Metromile operates in Arizona, California, Illinois, New Jersey, Oregon, Pennsylvania, Virginia, and Washington.
6. How Do You Cancel a Metromile Insurance Policy? Contact Metromile's customer service for guidance on policy cancellation.

References

• [1] https://en.wikipedia.org/wiki/Metromile
• [2] https://www.thezebra.com/insurance-companies/metromile-reviews-coverage-options-and-ratings/
• [3] https://www.investopedia.com/articles/insurance/120916/metromile-insurance-review-paypermile-worth-it.asp
• [4] https://www.autoinsurance.com/companies/metromile/reviews/