Most people are barely scraping by when it comes to being able to afford driving a car. Some have opted for public transportation, even more have joined carpools. Reducing the cost of fuel will surely help the pocketbook but there is much more to consider.
Car owners are still stuck paying for car insurance coverage even when their driving is very limited. No matter how a person tries to reduce his/her driving they are still charged a full price for auto insurance.
New options for auto insurance are being explored and tried. A few states are trying a new insurance arrangement known as pay per mile auto insurance.
The premiums for this kind of insurance would be based on how much many miles that you drive. Pay per mile auto insurance will make both drivers and insurance company's quite relieved. No more full coverage rates when you are one that drives less.
Pay per mile auto insurance will help people by allowing them to have more say over their coverage and the price that they pay. Discounting the costs for people who use other forms of transportation is good news to the ears of many. Both insurance companies and customers will see a price cut.
How could an insurance company keep track of the mileage that a driver has? They have to protect themselves against scammers that will try to manipulate the system.
It is still in the beginning stage however, one idea is the use of a permanent odometer placed in the car by the insurance company that keeps track of your miles and submits those figures to the insurance company or something similar such as a GPS device.
Those that will get the biggest price cuts will be those that travel the least. 15,000 miles per year and under will be the cut off point for those that want to see the lowest payments.
This is a wonderful arrangement for people that are using public transport or that have reduced the number of miles that they drive. However, this is currently only available for persons in Arizona, Indiana, Illinois and Pennsylvania.
Car owners are still stuck paying for car insurance coverage even when their driving is very limited. No matter how a person tries to reduce his/her driving they are still charged a full price for auto insurance.
New options for auto insurance are being explored and tried. A few states are trying a new insurance arrangement known as pay per mile auto insurance.
The premiums for this kind of insurance would be based on how much many miles that you drive. Pay per mile auto insurance will make both drivers and insurance company's quite relieved. No more full coverage rates when you are one that drives less.
Pay per mile auto insurance will help people by allowing them to have more say over their coverage and the price that they pay. Discounting the costs for people who use other forms of transportation is good news to the ears of many. Both insurance companies and customers will see a price cut.
How could an insurance company keep track of the mileage that a driver has? They have to protect themselves against scammers that will try to manipulate the system.
It is still in the beginning stage however, one idea is the use of a permanent odometer placed in the car by the insurance company that keeps track of your miles and submits those figures to the insurance company or something similar such as a GPS device.
Those that will get the biggest price cuts will be those that travel the least. 15,000 miles per year and under will be the cut off point for those that want to see the lowest payments.
This is a wonderful arrangement for people that are using public transport or that have reduced the number of miles that they drive. However, this is currently only available for persons in Arizona, Indiana, Illinois and Pennsylvania.
About the Author:
To start saving much more visit Low Cost Auto Insurance and Discount Auto Insurance. Chimezirim Odimba is an insurance expert.
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