No, Geico doesn't offer a specific discount for low mileage. However, Geico premiums do take miles into account, since rates are an average of 27% lower for customers who drive 7,500 miles a year than for customers who drive 15,000 miles a year, according to data from WalletHub. Some companies offer discounts to motorists who drive a lower than average number of miles per year. Low mileage discounts can also be applied to drivers who share the car to work.
As mentioned above, GEICO offers usage-based car insurance through DriveEasy. This program isn't available in all states, but it can result in discounts for low miles. You can also get classic car insurance with GEICO if that applies to your car. To get classic car insurance, your car must meet the insurer's requirements to qualify as a classic car.
That's because insuring a second car with a single policy is often cheaper than insuring two cars separately. Usage-based car insurance (also known as pay-per-use insurance) refers to a program that relies on technology to track your habits while driving. Car insurance premiums are based in part on the price of the car, the cost of repair, your overall safety record, and the likelihood of theft. Using a comparison tool, such as a quote chart, is a much simpler and more efficient option for finding the best car insurance policy.
Insurance companies recognize the impact of miles on insurance risk, but often don't offer the benefit to consumers. Both USAA and GEICO offer discounts to maintain your car insurance when you're in a military deployment. Regardless of how often you drive your car or what type of car insurance policy you want, it's smart to compare quotes from several insurance providers. You might also be interested in other GEICO car insurance discounts, such as those for the military, people with defensive driving training, and good students.
The CFA is asking state legislators and insurance commissioners to demand that auto insurance rates be more closely linked to drivers' mileage. Depending on your model and model year, you might also consider classic car insurance for your car that you don't drive often.