New Type of Vehicle Insurance — Pay-As-You-Drive (PAYD) Policy
Vehicle insurance is not getting any cheaper, as any American can testify. This is of course due to inflation. And as insurance costs are driven higher as the years go by, insurers also get smarter by the day. Fortunately they’re not using their wits to squeeze the last dollar out of us this time. They’re actually helping some of us who are underutilizing our cars save up on our vehicle insurance.
Currently we car owners have to pay for our vehicle insurance coverage even though some of us seldom use our cars at all. Essentially, we are paying for what we don’t use — yet we still have to bear the same burden of paying the full auto insurance bills, month after month.
