Traditionally, car insurance policies run as contracts. You pay your auto insurance for a year, and this keeps rolling over until you cancel and change providers. For most people, this is the most convenient option (set it and forget it). But, individuals that don’t drive often can sometimes feel like they’re wasting money. 

With those people in mind, Nationwide Insurance has introduced a new Smart Miles Car Insurance Program specifically targeted at those who don’t drive all the time. It’s a highly convenient option for all of you sporadic drivers, and you may save a lot of money compared to a typical car insurance policy. 

In this article, we’re going to provide some of the core details of the new Smart Miles Car Insurance Program, and how it offers an alternative way to pay for your car insurance, so you can consider whether or not this is the best insurance option for you and we can help save you money on car insurance

What is Nationwide’s Smart Miles Auto Insurance?

The Smart Miles program is essentially just car insurance for low-mileage drivers. You receive all the same coverage as a traditional Nationwide policy, but the difference comes in how you save money on auto insurance. With Smart Miles, you’re on a flexible monthly rate that changes depending on how far you drive during that month. 

How does it work?

When you get a Smart Miles auto insurance quote, it will be split into two main parts. 

The first is a base rate, which is determined by all the usual things that determine your insurance policy. This includes your age, gender, the car you drive, where you live, and so on. Your base rate charge will stay the same throughout your time on the policy. 

In the second part of your Smart Miles auto insurance quote; the variable rate. This is also referred to as Cost Per Mile, and it’s dependent on how often you drive during each month. At the start of your policy, you’re given a set fee for the Cost Per Mile – which can be $0.06 per mile. This won’t change, but the total cost of the variable rate will. 

For example, imagine one month you drive 500 miles, and the next month you only drive 300 miles. Let’s say the base rate is $48, and the cost per mile is $0.60. 

  1. In the first month, you pay $48 plus $0.06 x 500, which equals $78 total. 
  2. In the second month, you pay $48 plus $0.06 x 300, which equals $66 total. 

As you can see, you’re paying less when you drive less! If you compare this to a traditional Nationwide auto insurance policy, then you’d likely pay $115 a month for the whole term. 

Who benefits from the Nationwide Smart Miles Insurance Program?smart miles auto insurance quote

Smart Miles isn’t for everyone, but it can be highly beneficial if you don’t drive that often. People who work from home and barely use their car will find this option far cheaper than the traditional insurance policy. The same goes for individuals who live and work in downtown Denver, and only use their car on weekends to venture outside of the city.

However, if you drive every single day, and rack up a lot of miles, then it may be better for you to get the traditional Nationwide auto policy instead. 

What comes with the Smart Miles Auto Insurance Program?

If you sign up for Smart Miles auto insurance, here’s what you can expect to happen…

First of all, everyone on this policy has to have the Smart Miles mileage tracking device. As you can probably tell, this is installed in your car and will track the miles you drive for you. So, your monthly payments are based on this device’s readings, not the mileage tracker built into your car. 

Worried about having to pay out the nose in auto insurance for the one off-road trip excursion to the Rocky Mountains? No worries! Smart Miles has something called a “Road Trip Exception” to help keep your car insurance costs as low as possible. With Road Trip Exception, only the first 250 miles driven per day are counted towards your bills. In essence, this lets you go on the odd long Rocky Mountain adventure (or anywhere else) without worrying about racking up substantial car insurance costs for that month. 

Nationwide also offers a mobile app and online dashboard that lets you keep tabs on your mileage and your monthly payments. This is a smart way to ensure you keep track of everything and aren’t going overboard with your driving!

Lastly, there’s a special discount for safe drivers on this policy. After your first renewal, you’ll get up to 10% off as a reward for your safe driving. 

If you don’t drive that frequently, then the Smart Miles Car Insurance from Nationwide might be perfect for you.

For further details on this policy – or if you want to get the best deal on your car insurance – please feel free to contact our team at Denver Insurance today.

Fill out the form below and we’ll find you the best coverage for the best price. 

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