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Afilalo points out that pay-per-mile programs are different from a low-mileage discount, which is a rate reduction for driving under a certain mileage annually — usually 7,500 miles a year.
State Farm. $2,364. $197. Geico. $1,741. $145. Progressive. $1,988. $166. ... Low mileage discount: ... common options include $500 or $1,000. A higher deductible is likely to result in a lower ...
Some programs like State Farm Drive Safe & Save guarantee your current premium won't increase based on telematics data, but your discount might end up being 0% after the initial 10% discount ...
Metromile also uses an OBDII-based system for their mileage-based insurance. They offer a true pay-per-mile insurance where behavior or driving style is not taken into account, and the user only pays a base rate along with a fixed rate per mile. [60] The OBD-II device measures mileage and then transmits mileage data to servers.
7. Low-Mileage Discounts. If you don't use your car often, you may qualify for a low mileage discount, which kicks in if you drive less than 7,500 miles per year. You may have to submit mileage ...
State Farm is the largest property and casualty insurance provider, and the largest auto insurance provider, in the United States. [5] State Farm is ranked 39th in the 2024 Fortune 500, which lists American companies by revenue. [6] State Farm relies on exclusive agents (also known as captive agents) to sell insurance.
A 2017 study in the Journal of Public Economics found that "a VMT tax designed to increase highway spending $55 billion per year increases annual welfare by $10.5 billion or nearly 20% more than a gasoline tax does because: (1) the differentiated VMT tax is better than the gasoline tax at targeting its tax to and affecting the behavior of those ...
Multiple that number by the $0.655 standard mileage rate for business. 500 business miles multiplied by $0.655 is $327.50 ... Do this using a mileage calculator, tax software or with the aid of a ...
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