I like this idea of pay-as-you-go. With the relatively little that I drive, I would expect to pay substantially less insurance. And, maybe it would simplify covering my college aged daughter who only needs to be covered a few months a year.
Or, is it too good to be true? If this were to be profitable for the insurance companies, why aren't they already doing it? Is it because they have a price fixing agreement (doubt it)? Or, would the pain of raising rates for those who drive more than average outweigh the savings for the rest? Or, _____?
Now, if only we could pay-as-you-live health insurance. Hmm, that doesn't sound right for some reason ...
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