Insurance Commissioner Steve Poizner of California released regulations permitting and authorizing mileage verification for pay-as-you-drive. The idea being that Californians won’t drive as much if they pay-per-mile.
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Spokesmen from a few auto insurance companies, including State Farm and Allstate, have stated that they are considering pay-per-mile auto insurance but haven’t decided whether or not it’ll actually become a reality.
With the economy being the way it is, getting a big discount on insurance every month would be very enticing for drivers. Leisure driving may be reduced, and families will be more responsible about grouping trips together and making unnecessary trips. Carpooling would also most likely see an increase. It also might encourage owning multiple vehicles, because families wouldn’t be paying for cars that just sit there.
From a consumer perspective, the change makes a lot of sense. From the heavy purse of an insurance provider, however, I’m not sure if this is a change they’re hoping for.
Regardless of whether pay-as-you-go is ever available to you and I or not, checking to make sure you’re getting the best rates you can right now is a great idea. Enter your zip code in on this page to get started comparing free auto insurance rates and start saving some money!