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Pay As You Drive Insurance Proposed In California
Posted on September 02, 2008
Last week, GreenBiz.com reported on the latest proposal by California State Insurance Commissioner Steve Poizner to implement a Pay-As-You-Drive (PAYD) program in California.PAYD insurance plans already exist for costumers in 34 states across the US as well as areas in Canada, Japan, and Europe. And as gas prices remain high and concern for the environment grows, PAYD programs are becoming attractive to many policymakers.Currently car insurance regulations require rates in California to be based on estimated annual mileage. The changes Poizner has proposed would base annual rates partly on th...
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