Last Updated: September 2019
Disclaimer: We are not Metromile car insurance company. This Metromile car insurance review is designed to be nothing more than an unbiased source of information to help you determine if Metromile is one of the best car insurance companies to work with.
This Metromile car insurance review is roughly a 5-min read.
Metromile is one of the best companies in the U.S. for individuals who drive a small amount of annual mileage per year.
Additionally, to help you navigate this post with ease, we have provided links directly below that will allow you to skip to any specific section of this post that interest you or that you need further information about:
- Our Metromile Car Insurance Review
- Metromile History and Background
- Metromile Financial Strength Ratings
- Metromile BBB Ratings and Complaints
- Coverage Options Available with Metromile
- What Makes Metromile Car Insurance Unique?
- Discounts Available with Metromile
- Cost of Metromile Car Insurance
- Who Should Consider Metromile Car Insurance?
- Rideshare Coverage with Metromile Insurance Company
- Pros of Choosing Metromile for Coverage
- Cons of Choosing Metromile for Coverage
- Final Thoughts on Metromile Car Insurance Coverage
In addition to the in-depth topics we intend on covering in our Metromile review, we also wanted to give those of you in a hurry a 1-minute overview of the company.
Here is that fast snapshot for you.
Metromile is one of the newer and more innovative car insurance companies in the market.
Currently, Metromile is only offered in select states that include the following:
- New Jersey
Metromile is a fantastic selection for any individuals who drive a low amount of miles per year.
More specifically, if you drive less than 10,000 miles per year, chances are you can obtain a much lower rate by switching to Metromile.
The company is heavily reliant on its mobile application is known as “The Pulse”.
Metromile doesn’t offer discounts like many other popular car insurance companies and during enrollment, you will be given the lowest rate possible automatically.
If you drive more than the miles discussed above, it’s definitely worth comparing rates with another half dozen popular car insurance companies before ultimately making your decision if they are the best car insurance company in your local area.
That’s about the fastest way for us to sum up what you need to know about Metromile car insurance.
However, for those of you need more information, we recommend taking a few minutes to read our full review on Metromile.
Here are the details.
Our Metromile Car Insurance Review
Metromile is based out of San Francisco California and currently only offers one line of insurance to individuals (auto-insurance), and most of the platform is dependent on their mobile app.
Metromile is also what’s considered a pay-per-mile style of car insurance which is something unique and an avenue that could prove to save substantial money for individuals who don’t drive very often.
Metromile tends to make sense if you are under the annual number of miles per year set by Metromile, which currently sits at 12,000 miles or year per less.
Metromile History and Background
Metromile was initially founded back in 2011 by David Friedberg and Steve Pretre.
To this day, Metromile has raised a total of 205 million dollars through initial seed funding rounds and has investors dumping cash into the company from the following investment groups.
- Index Ventures
- First Round Capital
- SV Angels Group
In 2013 the company added additional office space and opened other locations in Boston and Tempe Arizona.
In 2016, Metromile announced that they had raised an additional 192 million in funding, which allowed them to begin underwriting car insurance policies more effectively.
This in turns, helps Metromile remain more profitable year after year due to favorable underwriting results.
Metromile is very dependent on its mobile driving app is known as “The Pulse,” which allows MetroMile to collect data while the consumer is driving as well as verify the car’s health and how many miles are driven on a daily basis.
Metromile Financial Strength Ratings
Currently, for being considered a new company in the Industry or for being less than 10 years old, Metromile is still backing some impressive financial strength ratings.
Currently, A.M. Best which is considered a global credit rating agency that specializes in rating insurance companies is affording Metromile an A- Rating which is not considered the best, but it’s certainly nothing to be concerned over.
Metromile BBB Ratings and Complaints
Another positive about Metromile is that they currently are being provided an A+ rating from the BBB based on 292 consumer reviews and an overall 4-star rating.
In the last 3 years, Metromile has closed a total of 69 complaints.
In most circumstances, these complaints typically are concerning billing, claims, or other internal processes with an auto insurance provider.
Coverage Options Available with Metromile
Now it’s time to look at what car insurance coverage options you have with Metromile.
A common trend in the auto insurance industry is offering similar base coverage options that include the following:
- Uninsured Motorist Coverage
- Medical Payments and PIP
- Comprehensive Coverage
- Collision Coverage
- Bodily Injury Coverage
Additionally, you usually will find that car insurance providers offer additional coverage for an additional premium.
With Metromile, you have the following additional coverage options available to you:
Roadside Assistance- Helps cover expenses that occur due to mechanical breakdown.
Pet Protection- Allows you to have $1,000 in coverage if you are involved in an accident that results in your pet needing vet care.
Habit Based Rates- This means that all coverage with Metromile is based on how often you drive.
It is NOT based on your actual driving habits.
This is unique compared to other car insurance companies.
What Makes Metromile Car Insurance Unique?
Metromile is one of the unique options available in the auto insurance market.
First and foremost, it’s nice to see a car insurance company finally providing big-time price cuts based on annual mileage.
Especially if you drive less than 6,000 miles per year.
With a world transitioning to remote work and less driving, this could be a significant value to many consumers.
Also, a potential downfall but unique feature of Metromile is their fluctuating premiums month per month as the mobile app adjusts and learns your annual mileage driven per year.
Additionally, Metromile is one of the more tech advanced car insurance providers in the industry.
Other car insurance companies such as Root Insurance and even Progressive Insurance Company have unique tech platforms but Metromiles ability to do nearly everything through one mobile app allows them to stand out from the crowd, to say the least.
Discounts Available with Metromile
Metromile is not known for offering many discounts to drivers for their car insurance.
In fact, on their website, they explicitly state that all discounts are automatically applied during the sign-up process.
However, Metromile does take the time to explain other things you can do to save additional money on your car insurance, which can include the following:
Switch to Strictly Pay Per Mile- If you know you drive less than 10,000 miles per year, Metromile is known to be 60% cheaper than other popular car insurance companies.
Raise Deductibles- Raising your out of pocket expenses in the event you need to file a claim will also provide you with a substantial break on your coverage premiums with Metromile.
Don’t Allow Metromile Coverage to Lapse- With Metromile, the longer you are an active consumer, the lower your rates ultimately become.
Avoid lapsing your policy to ensure that you are getting the price on your car insurance.
Cost of Metromile Car Insurance
Metromile is unique when it comes to the overall cost of auto insurance.
They are either the best option or you can do much better elsewhere.
Here’s how it works.
If you drive less than 10,000 miles per year, you are likely to save up to 45-60% on your car insurance choosing Metromile.
Driving under 6,000 miles per year nearly guarantees huge savings if you switch to Metromile.
However, once you break the 10,000 miles per year barrier, the rates become comparable to other top auto insurance providers in your area such as Farmers Insurance Company, State Farm Insurance Company and even Geico Insurance Company.
Be sure to take a good look and do the math on how many miles you drive before ultimately choosing to work with Metromile.
If you meet the criteria above, it’s certainly worth running a quote with or allowing Metromile to become your car insurance provider.
Who Should Consider Metromile Car Insurance?
From our point of view, Metromile is only suitable for one type of consumer.
Low mileage drivers.
That’s it and nothing fancy to it.
If you work from home or perhaps have very short commutes to work, you need to be checking out Metromile and running rates.
It’s that simple.
If you drive more than those 10,000 miles per year, you can skip worrying about Metromile and go for other top-rated insurance companies in your area.
Rideshare Coverage with Metromile Insurance Company
Rideshare coverage is not available with Metromile and likely never will be.
They have no reason to offer this coverage considering it’s purely a mileage-based coverage.
If you need car insurance and drive for uber and lyft, we recommend checking out other reputable insurance companies.
Pros of Choosing Metromile for Coverage
It’s easy to find some unique advantages and disadvantages to all car insurance companies we review at Rootfin.
With Metromile, here is what we believe to be the top perks of choosing them for coverage.
- A Top Technology Savvy Car Insurance Company in The Market
- Great Rates for Low Mileage Drivers (Seriously, They Are Really Good)
- No Dings on Premiums for Driving Behavior
Cons of Choosing Metromile for Coverage
On the flip side, here is what we believe to be the biggest downfalls of Metromile.
- Very Limited State Availability
- No Rideshare Coverage
- Poor Rates If You Drive 10,000 or More Miles Per Year
Final Thoughts on Metromile Car Insurance Coverage
At the end of the day, we recommend you keep things simple for yourself.
Either you drive a lot, or you don’t.
If you don’t, run your rates with Metromile.
If you are on the borderline, run your rates with Metromile and 3-4 other auto-insurance providers.
It’s as easy as that.
Good luck finding the best rates on your coverage.