TALLAHASSEE, Fla. — Driving rates are down 40% during this pandemic, which provides an opportunity to save money on your car insurance. According to insurify 25% of companies are giving refunds and 40% are offering payment relief. If you drive less than 12,000 miles a year, switching to pay per mile insurance could also save you money.
“Typically there are few complaints about pay per mile,” said Michelle Megna from carinsurance.com. “It’s relatively straightforward and its very simple and obviously consumers like that.”
Pay per mile is strictly miles and is typically tracked through an app or device. Even if you're driving over 10,000 miles a year-- it could still pay to shop around.
One thing you shouldn’t do is cancel your car insurance for the time being.
“That’s actually going to cost more in hidden fees than you might expect,” said Kacie Saxer-Taulbee,” spokesperson for insurify. “When you go to reinstate that insurance you’re going to get it with insurance penalties for that lapse in coverage. Plus the DMV is going to charge you reinstatement fees. We estimate that just for a 60-day lapse in coverage it will cost most drivers in American about $200.
According to insurify most car insurance companies are offering around 50 dollars in savings per policy.