Do you work from home? This news is for you.
- From 2018 to 2021, the number of workers working from home has increased fivefold.
- Those who don’t drive as much can potentially save hundreds of dollars through pay-per-mile car insurance.
- Pay-per-mile car insurance offers the same coverage as a traditional policy and is based on the number of miles you drive.
The pandemic changed driving habits for many people, especially those working from home. According to a recent study, more than one out of four workers (26.7%) now work remotely, which is five times that before the pandemic (5.7%). 92% of these employees work remotely at least one day per week. Overall, more than two out of three (68%) American workers would prefer to be fully remote.
Even with the pandemic restrictions easing, many drivers are driving less than they used to. As a result, more drivers have switched to pay-per-mile car insurance, helping them save hundreds of dollars on auto insurance.
What is pay-per-mile car insurance?
Pay-per-mile car insurance has become more popular for drivers since the monthly auto premium is based on the number of miles you drive as opposed to a fixed monthly amount. Auto insurance companies offer the same coverage as a traditional policy, except you pay a low base rate plus several cents for each mile you drive. Companies can now offer more targeted and cheaper policies to meet driver demands.
Insurance companies are able to track the number of miles you drive primarily through “telematics” technology that monitors vehicles in real time through GPS. Telematics can be built into a car such as a Tesla, or require you to plug a device into your car’s diagnostic dashboard. Some insurers require you to connect their mobile apps