PAYD
Streetsblog LA
Much Ado About Nothing? New State Rules for “Pay-As-You-Drive” Insurance (Updated at 4:07 P.M. Below)
Last week, State Insurance Commissioner Steve Poizner announced that his commission adopted new rules allowing and encouraging auto insurance companies to create "pay as you drive" (PAYD) insurance policies. PAYD policies, which charge drivers per mile driven for their insurance, provide another financial incentive for drivers to reduce their vehicle miles traveled. The new rules can be read here.
October 19, 2009