Carpooling3 of 9Joining a car pool has benefits beyond helping the environment. If you carpool with three other people, with each driving one-week shifts, you can cut the miles you drive by up to 75 percent. And the less you drive, the more you save on car insurance."Most companies track mileage," says Art Scott, a retired insurance agent who worked for State Farm for 30 years. "Anything under 7,500 miles is considered the pleasure rate -- and that's the lowest. Up to about 13,000 miles is a medium rate, and anything over that is a higher rate."The amount you save will vary depending on several factors, but J. Robert Hunter, insurance director for the Consumer Federation of America, says the difference could be as much as 25 percent.<< Back to the Frugal Living Guide. Related Articles:Save money on groceries10 ways to save on carsTweet for sweet dealsGroup buying saves moneyRelated Links:331 ways to cut costs!Saving goals calculator100 tips to help you saveSaving on foodadvertisement
Joining a car pool has benefits beyond helping the environment. If you carpool with three other people, with each driving one-week shifts, you can cut the miles you drive by up to 75 percent. And the less you drive, the more you save on car insurance.
"Most companies track mileage," says Art Scott, a retired insurance agent who worked for State Farm for 30 years. "Anything under 7,500 miles is considered the pleasure rate -- and that's the lowest. Up to about 13,000 miles is a medium rate, and anything over that is a higher rate."
The amount you save will vary depending on several factors, but J. Robert Hunter, insurance director for the Consumer Federation of America, says the difference could be as much as 25 percent.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.