Most drivers have some qualms with their car insurance policies, or more specifically, their insurance carriers; but insurance is a big business, since those who want to get behind the wheel of a car need to make sure they're insured. Typical car insurance policies insure vehicles for a pre-determined term, but Mile Meter tries to offer drivers a more flexible and affordable option, by insuring people based on how much they drive.
With most insurance companies, policy holders pay based on the type of car they drive, their age, and their driving history; and while oftentimes vehicle insurance does take into account drivers commutes to work each day, the bulk of the premium is based on the aforementioned aspects. That doesn't sound very fair, does it? For those who keep their car parked in their driveway 90% of the time, to pay just as much as those who drive dozens of miles to work everyday. With that in mind, Mile Meter, is a new insurance company that's changing the way vehicle insurance policies provide coverage, by determining insurance premiums based on mileage.
Mile Meter assures drivers that accrue vehicle mileage of less than 12,000 miles per year that they can save on their car insurance. The policy term is based on reaching the annual mileage amount, or a predetermined date; whichever happens to come first.
While Mile Meter certainly seems to be onto something; I'd rather see car lease payments based on mileage so that next time you feel guilty about your unused car sitting in your driveway, your worries are alleviated by knowing that you're saving the environment and the money in your pocket.