Today, we will be comparing Metromile vs GEICO. This is a review of young vs old, pay-per-mile vs a flat insurance rate.
We will discuss the most important things to look for in an auto insurance company such as coverage options, price, features, and more. Make sure to get a quote today to help you save 75% or more on your next plan.
Introduction of both insurance providers.
Metromile is a very young pay-per-mile car insurance provider that was founded in 2011. Even though they are less than 10 years old they have over 200 employees and have generated over 50 million in insurance revenue.
GEICO has been a trusted auto insurance company for over 80 years. With over 38,000 employees, GEICO is dedicated to protecting what you own.
Car insurance rates comparison
How much do you drive your car? If you drive less than 7500 miles, then Metromile is a wonderful insurance option for you. Metromile is great for those who work close to home or those who try to drive less. You will end up saving money.
If you are a person who likes to take occasional long trips, then Metromile is not for you. Most of Metromile’s customers drive less than 10,000 miles a year. However, you can still save when you drive more than 10,000 miles a year.
With MetroMile you will pay a low base rate, then you will pay just pennies per mile. You could pay a base rate of just $30.00 which is amazing. Driving under 2500 miles could save you $650/yr. Driving under 7500 miles could save you $500. Driving under 10,000 could save you $300. Rates vary with each driver, that is why it is essential that you get a quote today.
GEICO
There is no GEICO pay-per-mile insurance option. Insurance companies like State Farm or GEICO offer you a flat rate. However, GEICO offers the cheapest monthly auto insurance rates in the U.S. There is no denying that you might save slightly more money by purchasing Metromile, but once again GEICO offers cheap premiums.
If you drive a lot, then you can actually be saving more when you use GEICO. For one of my old trucks I received a GEICO quote for $50/mo. I have a newer financed car that I’m paying less than $200/ a month with GEICO for full coverage. This is half the cost of some other insurance companies that I’ve tried. From trying out different companies, I am confident that GEICO will offer you the best premium price.
Features and discounts comparison
Metromile features
- Metromile app – This app is extremely helpful and rich in features. One feature that I love is their car locator option. Have you ever parked in a busy parking lot and couldn’t remember where you parked? Not only does this feature help you to find your vehicle, but it also helps your friends and family to find your car.
- Projected annual savings option.
- Street Sweeping alerts.
- Metromile Pulse – The device plugs into your vehicle’s OBDII port and it helps to track miles driven to accurately price your policy. This device is compatible with vehicles from 1996 and up.
- Multi car discount – Do you need car insurance for 2 or more drivers? If so, you save money by adding more cars onto your insurance policy.
GEICO features
GEICO is the older company with more features and car insurance discount options to help their customers save money.
- Vehicle equipment discounts
- Driving history & habits discounts
- Drivers education discounts
- Driver affiliation discounts
- Customer loyalty discounts
- #1 Insurance mobile app & site
- Digital ID Cards
- Kate – GEICO Mobile’s virtual assistant
Availability comparison
Metromile is an awesome company. However, although they are growing rapidly they are not currently available in all 50 states. Per-mile insurance is only available in California, Illinois, New Jersey, Oregon, Pennsylvania, Virginia, and Washington. It doesn’t matter where your vehicle is registered. It only matters that the car resides permanently at the location listed on your policy.
GEICO on the other hand is available in all 50 states, which means that if you needed insurance in Florida you would not having any problems getting insurance.
Insurance claims reviews
Metromile has mixed reviews when it comes to their claims. I’ve heard mostly positive things about Metromile from satisfied customers, but I have heard some negative from dissatisfied customers. Better Business Bureau (BBB) gave Metromile an A+ in their rating system, which is the highest grade that you can receive.
GEICO is well-known around the world for their awesome insurance service. Both companies have an awesome financial strength rating and have billions at their disposal. Customers will not have to worry about their insurance company paying out claims in the event of an emergency.
Whichever one you that you choose, drive safe and always treat your insurance company as liability.
Coverage options
Metromile and GEICO both offer various levels of liability protection. You are also given roadside assistance and comprehensive & collision coverage. The only difference in coverage options is that Metromile allows for mechanical breakdown insurance. GEICO even offers you a coverage calculator to help you fit your budget. This awesome calculator helps you to discover the perfect level of insurance coverage for your needs.
Ridesharing
If you work for a ridesharing company such as Uber and Lyft you will be unable to insure your vehicles with Metromile. Metromile is only intended for low-mileage drivers and it makes sense that they don’t offer ridesharing insurance.
GEICO on the other hand offers a ridesharing policy that is available almost everywhere. The awesome thing about GEICO’s Rideshare policy is that it is a hybrid policy and it will replace your existing personal auto policy. With GEICO you are getting the best of both worlds. Not only are you secured but your passengers are secured as well.
Which company gives you coverage for anything other than a car?
If you are looking for any other coverage with Metromile, you will not find any. At this time, Metromile is only able to offer personal auto insurance.
Besides car insurance GEICO also offers renters, condo, motorcycle & ATV, boat, umbrella, RV, mobile home, collector auto, flood, commercial auto insurance, general liability, worker’s compensation, business owner’s, flood, life, homeowners insurance, and more.
Why does this matter if I only want car insurance? It matters because usually the more policies that you have with one insurance company the more money you will save. For example, if you needed car and homeowner’s insurance you could be saving 25% and you would have protection for two of your main valuables all in one company.
My recommendation
Both are great insurance companies for old, young, single, or married drivers. If you desire full coverage or just liability, then you will not go wrong with either GEICO or Metromile. Both have a high financial rating, both offer cheap insurance rates, and both give their customers a plethora of insurance features to work with.
I currently have GEICO and I couldn’t be happier. You might be saving with Metromile, but GEICO does have extra discounts that you can save on especially if you are a homeowner. To get the best rates, I strongly recommend that you check and compare quotes from both companies today, which will only take you a few minutes.