New Concepts In Car Insuranse Pay As You Drive
ADDED
05-28-2007
Pay as you drive car insuranse is based on the same premise as pay as you talk cell phones. You only pay for the time you use so if you dont do a lot of driving you could get lower insuranse rates.
This type program would be great for people who car pool or use public transit to get to work. Many retirees would also benefit from this type plan.
Basically you would be required to purchase a policy which had a mileage factor in it. As long as you stayed within the predetermined miles you would have a lower rate. Many people believe this to be a good idea for people who do not drive much. This type program is not yet available but there are many people who support the idea and are trying to change the law.
Many groups such as Environmental Defense and the US Environmental Protection Agency are trying to organize a nation wide effort that would help car insuranse companies offer this type insuranse.
GMAC already offers pay as you drive rates through their On-Star system. It is only available in some states but motorists who drive less than their specified mileage will get a discount up to 40%.
These programs are already available in other countries and they are gaining popularity in the US. Hopefully they will be available in your area soon. |
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