Finance
Allstate’s Pay-Per-Mile Policies Boom in the Work-From-Home Era
- Number of cars insured by Milewise is about six times higher
- Pandemic accelerated trend toward pay-per-mile, Allstate says
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The Covid-19 shutdowns that swept the U.S. have been a boon for a newer auto-insurance product: pay-per-mile coverage.
During the pandemic, Allstate Corp. has seen interest surge in its Milewise offering, which lets customers pay auto-insurance premiums for just the amount of driving they actually complete, said Glenn Shapiro, president of Allstate’s personal property-liability operations. The number of cars insured through Milewise was about six times higher last year than in 2019, and there were roughly four times more policies, with some covering multiple vehicles.