Metromile launched its consumer-focused per-mile car insurance in 2013 to help low-mileage drivers pay a more appropriate rate. Metromile offers car insurance, but rather than charging a flat monthly rate, it bills you only for the time a driver is behind the wheel. Metromile CEO Dan Preston says, “if you’re driving under 5,000 miles per year, you will save 40% to 50%” on your car insurance by switching to Metromile”.
Metromile has developed a cellular GPS telematics device called Metronome that plugs into the diagnostic port under your dashboard, providing engine data plus insights to optimize your daily driving. Metromile has also developed a companion mobile app that uses data from the Metronome and lets you view the miles driven, compare trips, check the status of your engine, locate your car, and more.
Through Metronome, Metromile has also tapped into the rideshare marketplace partnering with Uber. The two companies have jointly developed the first technology solution that enables pay-per-mile, personal insurance coverage that complements Uber’s $1 million commercial liability and ensures continuous seamless insurance coverage for Uber driver partners.
“Metromile has created an innovative product that responds to the needs of the insurance marketplace. Driver partners using Uber’s TNC platform will soon have a new flexible insurance option that is designed specifically for their needs,” said Andrew Macdonald, Uber’s Regional General Manager.
“We are proud to offer a unique solution to the growing issue of how TNC drivers insure themselves, whether driving for personal use or with Uber,” said Dan Preston, Metromile CEO. “With Metromile, not only do driver partners have access to a personal insurance product that acknowledges their TNC use, but they may also save money on their personal insurance.”