Pay per mile car insurance

[DPancoast]

i was reading todays new york post and theres a short blurb about CA proposing pay per mile car insurance.


California moved one step closer last month to pay as you drive policies that could allow motorists to buy insurance like they buy gasoline. Just a little at a time.

Insurance Commisioner Steve Poizner released regulations permitting and authorizing mileage verification for pay as you drive without dictating what form such plans must take. The goal is to use per mile pricing to entice CA residents not to drive so much, thus easing air pollution. relieving traffic congestion and lowering the number of collisions.


What do you guys think? I think it could work depending on whats involved but theres no way insurance companies would make as much money.

[Scapegoat]

i'd dig it. i certainly don't drive very far back and forth to work

[TurboDSMJ]

In the past 12 months my Camaro has gone 1,022 miles. I paid about $1,200 to insure it for that period of time.

...I'm down with this lol.

[KustomZ03]

Yeah I think its a good idea too, especially for people who have weekend cars or cars they don't drive very often.

[Honest_Bob]

I like it!

[den9]

sounds cool, i wouldnt benefit from it though.

[jpalamar]

It sounds like a cool idea, but it won't work. Cause its too easy to buy a second guage cluster or reporgram them to look like it is a pleasure car with only a few thousand miles a year.

[DPancoast]

kinda like people do for inspection? lol

[total0wnage]

this wouldnt benefit me either, i drove 20k in the last 9 months of having my car

[russiankid]

I commute 350 miles a week just to school.:(

[Chris B.]

I think the people who put low miles on their car should be elidgible for this. It would also be interesting to see how people's rates would be affected if the insurance companies kept track of mileage to determine accidents per mile. I knwo of some people who drive very little miles but have high accidents per mile. I know of others who do 30,000-50,000 miles per year and go years without accidents.

[FocusDude]

Wait for the delivery surcharge.

It work's for the family, we don't drive much. But I drive 30k+ a year for the company, I can only imagine how rates may increase. Maybe they wouldn't? I'll have to wait and see.

[SheaButter]

We basically do pay for mileage already. I dont think there is an insurance co out there that doesnt ask how far you commute to work. What they do is base you risk on how many miles you drive would it make a difference, no I think insurance needs a change but I think its more of the basing your rate on ur credit score that needs to be changed. Some of my friends have cars that are not as new or sporty as mine yet they are pay close to what I am and they only have basic insurance.

[bmatyeah]

California likes people but hates cars.

[Ridachu]

So I guess its like a...cell phone bill???.....I wonder if they offer rollover miles

[jpalamar]

We basically do pay for mileage already. I dont think there is an insurance co out there that doesnt ask how far you commute to work. What they do is base you risk on how many miles you drive would it make a difference, no I think insurance needs a change but I think its more of the basing your rate on ur credit score that needs to be changed. Some of my friends have cars that are not as new or sporty as mine yet they are pay close to what I am and they only have basic insurance.

I quoted my GTO as a pleasure vehicle, under 5k miles a year. It didn't change $0.01 from my current DD of about 15k miles a year policy.

[Kerplunk105]

No way. I drove 30,000 miles last year and my insurance is only $1000/year.

[crexxy90]

id say make it an option if you have a 2nd or pleasure car, but im not up on paying for the 12-15k miles i drive every year

[1988 Olds]

I quoted my GTO as a pleasure vehicle, under 5k miles a year. It didn't change $0.01 from my current DD of about 15k miles a year policy.

Every company is a little different. I work for Allstate and it does matter a little bid depending on how far you drive and also if its for work/school vs pleasure. People lie half the time anyway so its not really that important in the price. Biggest thing is sheabutter said your credit score or we call it Insurance score plays the biggest role. Also any car you would expect a teenager to drive such as a chevy cobalt is high no matter what.

[PnS]

It's a good idea, but it doesn't also take into account the fact that the chances of something happening to the car while it sits parked exists too. If you pay only a couple hundred bucks a year for a weekend car cause it only goes 2k miles per year, but a tree falls on your garage in a storm and the car gets f-ed, then the insurance companies are out a lot of money. That wouldn't fly with them, lol.

[98GSXdude]

It's a good idea, but it doesn't also take into account the fact that the chances of something happening to the car while it sits parked exists too. If you pay only a couple hundred bucks a year for a weekend car cause it only goes 2k miles per year, but a tree falls on your garage in a storm and the car gets f-ed, then the insurance companies are out a lot of money. That wouldn't fly with them, lol.

Also, statistics show that most accidents happen within a few miles of your home. So charging less for people who only drive locally and keep miles low wouldn't make sense for them either.

Its a good idea, trust me. My Z has seen maybe 2k miles this year, so I'd make out big time, but it won't happen.

[turboman808]

I have 3 cars and drive less then 9000 miles a year. Give me $2000 a year insurance that covers 1 or 10 cars and I am all over that.

[i_ride_fieroGT]

Wouldent do it for me. All my cars easley get drivin in excess of 10K miles a year.

[turboman808]

I forget the porsche has collector car insurance. I wouldn't get rid of that at all. $300 a year and an agreed value of $70K. Try getting that from a regular insurance company.

[2G_TSi]

The thing about the few miles away from home is rubbish, no kidding its statistically gonna be close to home thats where you drive to and from all the time. If we all lived at wal mart the majority of your accidents would be at wal mart. bah. sorry to sound like a jerk i hate that stat getting thrown at me by my mum.