The Limos.com Forum Has Moved!!!

I've been watching the evolution of Pay-As-You-Go insurance in the European market; has anyone seen this idea in the US?

Well….I think if you wait for some more time… you can get a lot better suggestions that this…I am out of any ideas for this!!!!

Interesting to where GPS monitoring will lead...

Get discounts from your insurance if you let them track you, then they can verify if you speed, or hang out in areas with higher crime rates, etc.

I can see it..

quote:

Dear John Q. Customer

Last Friday we monitored your vehicle driving in a straight line to Bob's Bar and Grill. It sat there for 5 hours, then weaved all the way back home at half the speed.

Based on this activity, we are afraid we will have to cancel your policy as a potential drunk driver.

Wonder where we will be in 5-10 years... (If we can afford gas to drive LOL)

-Greg

quote:

I do not see this working in a commercial form unless maybe when dealing with self-insured programs with regards to the excess liability.

I think you're right... the article I was reading suggested that high mileage coverage would not benefit near as much as others; I read that to mean that consumers might like it, but I did not see commercial getting a benefit.

This was all in conjunction with the spread of telematics into vehicles whereby the mileage driven could be tracked via GPS.

Steve,

Our (the U.S.) personal insurance policies are already mileage based, just not as specifically as a paygo policy. There are companies that already want to know the start mileage from the odometer and the end mileage as to more acurately underwrite the policies.

I do not see this working in a commercial form unless maybe when dealing with self-insured programs with regards to the excess liability.