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Pay As You Drive Insurance- You have got to be kidding

By
Real Estate Agent with RE/MAX Coastal Properties

You know I can't even make this stuff up!  With a feeble attempt at masking their fiendish plan, Farmers Group is hinting at lowering premiums by charging you for coverage by the mile!  While that will probably work for my Mother it would be horrendous for most mothers.  Child care, school activites, after schools sports and more.

The are taking technology to a whole new level buy measuring your cars usage by your iPhone or BlackBerry.  And working on a tracking product that could possibly be released by the end of the year.  Hold up, let me make sure I've got this right.  They can come up with a tracking product to tell them how many miles my car is driven, but why couldn't they come up with something to track a car when it's stolen??  driving

If they are going to "reward" low mileage drivers with lower premiums, what are you going to do to people like me, who's more likely to have higher mileage in cars?  How about those that don't drive on rainy days?  Or in the snow?  And what about those who do?  ChaChing!

Reality says this is just the beginning.

 

karenbutler realtor

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Posted by

 karenbutler realtor      Karen Buter, Realtor

             850-830-8780

Karen@KarenButler.com

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Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

I guess what's good for the goose, isn't always good for the gander. I don't like it, personally. But most insurance companies already have something similar in place--if you drive less than 5k per year, you get a cheaper rate.

Sep 25, 2009 03:09 AM
Vickie McCartney
Maverick Realty - Owensboro, KY
Broker, Real Estate Agent Owensboro KY

Hi Karen~ What a can of worms that would be to manage.  I wouldn't want any parts of it either!

Sep 25, 2009 03:10 AM
Charles Perkins
Charles G. Perkins, CPA - Burien, WA

I have seen this as well.  They are looking at ways to adjust insurance costs.

Sep 25, 2009 03:18 AM
Karen Butler
RE/MAX Coastal Properties - Fort Walton Beach, FL
Eglin AFB/ Fort Walton Beach /Destin Relocation

Well, I've seen the 5k and 10k per year deal.  But they are talking about a tracking device for your car per mile.  So much for the planned family vacation drive to "Disney"  oh, oh, it's going to put us over our plan.  Sort of like when you go over your minutes on your phone plan it's like double!

Sep 25, 2009 04:23 AM