Perhaps, at this 10-year juncture, it would be an opportune time for you to canvas* the auto insurers. Compare their rates. I've been with GEICO for roughly 40 years, and my recent paperwork indicates I receive discounts for multi-car, anti-lock brakes, anti-theft devices, and 5-year good driving ( ). It does not mention a low-mileage discount.
Cheers & good luck.
P.S. Full disclosure: In another section of the paperwork, separate from the above, it also mentions a "Special 50+ rating."
Sidney wrote:I believe a USAA gives a low mileage discount. Makes sense. More miles, more risk, AOTE.
Sheepdog wrote:The previous carrier to my present one did not give a discount for low mileage. They didn't ask our mileage except when the original application was completed. My present carrier, AARP Hartford, with whom we have been with for a year and a half, requested our car's odometer readings. They gave us a big discount this year.
GRT2BOUTDOORS wrote:Although it does not mention the discount ... your policy is priced according to level of risk incurred.
... insurance companies need to turn a profit ...
GRT2BOUTDOORS wrote:One vehicle is newer and significantly heavier in weight and also incurs higher mileage during weekly excursions to employers office, the other does not. Liability coverage on the newer vehicle is higher even though it has all the latest safety gadgets that are now industry standard - why? - well, a)the vehicle is heavier and for those with some knowledge of physics - more mass combined with speed can create horrific damage, b)more mileage equals significantly more opportunity to incur or cause damage to someone else ...
pjstack wrote:I have USAA insurance and they occasionally ask me for my yearly mileage, but the haven't asked for a couple of years now.
dm200 wrote:With State Farm for the last 40 years, my recollection is that miles driven on each insured car is taken into account. I think it is based on the categories of total miles driven as well as miles/week to/from work/school. I specifically remember, at everal times, changing/correcting this (and getting an adjustment to premium). If you have multiple insured vehicles, you can sometimes "adjust" the split of vehicles to get into a lower price "bracket".
interplanetjanet wrote:I would think that insurance companies that don't ask for miles driven would eventually be victims of adverse selection. Perhaps it's not a big enough factor.
Firewood42 wrote:I laugh when my insurance company started asking my how far I commute. My wife and I run a skilled service business in the poultry industry. We started in the early 60's. When we were working full time we would go anywhere that would fit in our schedule. We might drive only 40 miles a week, then get a phone call and start driving 1000 miles a week. As the industry changed through the years we had to change with it. At one time we "commuted" from Ohio to Michigan to work, a 4 hour trip. Then we even went from Ohio to Michigan to southern Indiana and later my wife made a 300 mile round trip to eastern Ohio and I made a 400 mile round trip to southern Indiana. I often drove a four wheel drive pickup to haul my equipment and especially to fight the weather. We often had to fight two ft of snow and drifts to get to work. We absolutely had to be there or our customers would take a total loss.
The main thing is: WE WERE NEVER ASKED ABOUT MILEAGE DURING THE FIRST 40 YEARS OF OUR BUSINESS. I never paid any more insurance then the guy that "commuted" 30 miles a day. Only when we went to our present carrier 10 years ago did mileage start to make a difference.
Now we are retired and still like to travel for pleasure. When my grandfather retired he had photos of him and grandma at every state capital in the 48 states. My dad retired and traveled all over the country by himself sometimes up to age 80.
I am sure they didn't pay that much more in insurance for being high mileage drivers. I just hope I can find insurance not priced according to mileage so my wife and I can enjoy traveling in our retirement.
TranceLordSnyder wrote:Knowing somebody that works in the insurance industry, I can tell you that your mileage does effect your price. Most companies take a mileage reading when you sign up, and one about a year after you sign up. Your price will go up or down based on how much you told them you drive versus how much you actually drove. A lot of companies don't ask for mileage often if your original mileage estimates were reasonably close. ....
Firewood42 wrote:Do all auto insurance companies charge more for high mileage drivers? My present insurance company has raised my rates because I drive so many miles, in spite of the fact that I have been with them for 10 years and have a perfect driving record. I don't remember other car insurance companies I had in the past, checking on how many miles I drove and raising their rates accordingly.
pennstater2005 wrote:That's a good question. They typically only ask your yearly average mileage upon initiating the insurance. I have never had an insurance company contact me to ask what my mileage was from year to year. I guess your best bet would be to shop your insurance around and do a little investigating.
AQ wrote:I was asked by my insurance company (AAA) for the milage I drove, and without second thought, I put my actual number for the year when I had two long distance road trips (in a typical year, none). The next thing I know, AAA boosted my rate with a significant amount. When I went to explain, the response is that I could update my milage again next year with presumably a lower number. Then they'll adjust my rate to the lower milage.. What can I do?
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