High milage drivers will balk at this!

[Phu Cat]

There was an article in our paper today pushing the idea of paying for your auto (and bike?) insurance by the mile instead of in a lump sum.  The idea was the low milage drivers are being subsidised by the high milage drivers. 

If this is appearing in our paper now, it's probably been on the drawing board elsewhere for some time.  Some how, some way, it will result in higher premiums for every one most likely.

PC

[Faast Ed]

Sounds a little more fair than charging you more for insurance because of credit score.
Did you know that "credit inquiries" lower your credit score?  Did you know insurance companies do these credit inquiries? (amongst other companies doing inquiries).

They put a mark on your credit doing a credit inquiry, then penalize you for have a lower score. Nothing to do with driving.

I must admit the high mileage thing is gonna suck, and I would bet that this will be an excuse to raise rates, (but I bet the low mileage guys won't even see any lower rates).
They just want to raise, raise, raise the rates.

[calgary56]

So, high mileage drivers (riders) = more experience, will be paying MORE than low mileage drivers (riders) ... sounds kind of bogus to me.

[Phu Cat]

Calgary, Not sure high milage experience is always the right kind.  In some cases 'more experience' can translate to 'bad habits'.  Sure, more experience CAN be a good thing, but not sure it is automatically.

PC

[Alien]

I live in Mass and get hosed on insurance!!

I drive 15,000 miles a year on my bike and about 15,000 a year in my van/truck.

I have not had a ticket or accident in over 15 years!

Because I live in a city I pay twice as much as some of the surrounding towns. If I can avoid accidents in a higher risk atmosphere whouldn't I get a discount?

I have 3 vehicles registered and insured and can only drive one at a time, shouldn't the driver be insured for comprehensive and fire/theft/collision be offered on the individual vehicles?

I hate insurance companies!!

[Phu Cat]

I hate insurance companies!!    Me too.  It's a racket.  They use actuaries for everything!

PC

[MrClean]

State Farm gives me a break for driving under 15 thousand a year.  They just take my word for it.  Been doing it for years.
Allstate is advertising a refund for accident free driving.
Check around, it is getting more competitive.
And just how would they check your mileage anyway?

[Faast Ed]

And just how would they check your mileage anyway?

If you get in a bad wreck, and they investigate (and see your mangled odometer), they might have cause to void your claim if you report low mileage on a high mileage vehicle.
Might be the 'excuse' they are looking for to refuse your claim.

[Phu Cat]

Might be the 'excuse' they are looking for to refuse your claim.
MIGHT BE?

PC

[Flat Dog]

In Florida, MC insurance is optional.

[MMOCGuy]

State Farm gives me a break for driving under 15 thousand a year.  They just take my word for it.  Been doing it for years.
Allstate is advertising a refund for accident free driving.
Check around, it is getting more competitive.
And just how would they check your mileage anyway?

State Farm also discounts further for vehicles driven under 5,000 per year. It is always worth checking around for insurance rates because the cheapest quote isn't always the cheapest in the long run. My son decided to go with a company that is advertising agressively on TV about what a good deal their rates are. Up front it sounded great. When he got his first bill, after the "surcharges" and "Miscellaneous" add ons, it was considerably more expensive than one of the more common companies. Always check around.

Hope this helps.

Norm.

[RevJim708]

And just how would they check your mileage anyway?
[/quote]

In Massachusetts they check your mileages @ inspection time (once a year). It all goes on the computer. I'm sure there is very little they don't know about you.
Rev Jim..........

[Dennis The Menace]

Cant agree with it.  While stats show that the more miles you travel, the more likely you are to have an accident, they also show the more experience you have (years of driving), the less likely you are to have a crash/accident.

Tis why teenagers pay the most for auto/bike insurance.

menace

[Big Dan]

For as long as I can remember, insurance companies have asked "how much mileage per year," and "do you drive the vehicle back and forth to work, or just for pleasure?" More accidents happen on the way to or from work. More traffic, drivers distracted, etc.

I also understand the rates varying by Zipcode. I'm most certtainly safer way out here in the sticks than I'd be in the middle of Chicago, Los Angeles, or any other major metropolitan area. That goes for theft, break-ins, and vandalism, as well as for accidents.

[PosseRider]

Well they always told me that MOST ACCIDENTS happen within 20 miles of home!!  So, I always drive 21 miles. 

[Pilgrim]

I hate insurance companies!!    Me too.  It's a racket.  They use actuaries for everything!

PC

Phu, they're in business to make money for the stockholders, and to make money they have to know which side of an equation to bet on.  Actuarial tables do exactly the same thing as an odds quote for a poker hand; they tell you what to expect over the long run.

BTW, I'm not crazy about 'em, but when it comes to the other traffic f***-ups, I'm glad they're around.

Pilgrim

[MrClean]

I was told most accidents happen within 20 miles of your home, so I moved. 

[Ken R]

Insurance is based on sharing the risk amongst all subscribers.  It's actually a form of socialism.  Maybe that's why we hate it . . .. .unless we have a claim that it paid.
Ken

[MrClean]

The one thing that unites all human beings, regardless of age, gender, religion, economic status or ethnic background, is that, deep down inside, we ALL believe that we are above average drivers.  

[Tsani]

This not a new concept. It is actually being considered for road taxes at this time in several states. They will monitor it via a gps type device installed in your vehicle. Coulda seen the insurance thing coming. Next will be a switch that kills your vehicle. Read a lot of Sci Fi? Ain't it a bitch. And the brainless people of this society will let em do it too and on your dime!

[76FLH]

I also understand the rates varying by Zipcode. I'm most certtainly safer way out here in the sticks than I'd be in the middle of Chicago, Los Angeles, or any other major metropolitan area. That goes for theft, break-ins, and vandalism, as well as for accidents.

When I moved way out here in the sticks of WV my insurance went up with the same company I had when I lived in Southern MD! I was told there were less cars here but when there was an accident there tended to be more damage.

Bill

[hunter]

I live 7 miles from work.  I drive across town and past 3 old folk homes.  I'm taking my life in my own hands every work day.  If I started to live at my ranch, I'd add 110 EXTREMELY LONELY miles to my round trip.  Honestly, I could almost cat nap that it's so limited in risk.  Evel Knievel tried to cover less than a mile jumping the canyon; that was damn high risk.  The lonely roads of NW Oklahoma...I own - and stay off 'em until you ask me.

The amount of miles isn't the issue - it's the relative risk of the road you ride.

[Coff 06]

I have a large handfull of vehicles insured with AAA,I was able to get a couple of them on a under 1k per year program luckily.My bike is insured elsewhere for $360yr,I can live with that.           Coff 06

[Phu Cat]

They will monitor it via a gps type device installed in your vehicle.  I'd forgotten about that Tsoni.  If I'm not mistaken, they are already being installed in some vehicles and we don't have to be told about them when we buy the car.

PC

[onemchog]

In New Jersey we have E Z Pass for paying tolls on some highways and bridges and tunels so big brother sure knows where we are going and how many times we use it