Pay-per-mile car insurance might come to California
The idea of paying for your insurance by the mile is not new. MileMeter, in Texas, offers pay-as-you-drive (PAYD) rates and California has been using mileage brackets to set insurance rates for years. A new, more precise PAYD system is under discussion in California that would give people who drive less a financial incentive to do keep doing so – and maybe convince people on the fence to find an alternative when possible.
State Insurance Commissioner Steve Poizner recently issued regulations on what PAYD mileage verification plans could look like. It’s likely that people with PAYD would think twice when getting behind the wheel and combine trips when possible. The Brookings Institution studied PAYD last year and found that driving would drop by eight percent if all U.S. drivers were under a PAYD system. Also, two-thirds of U.S. households would save an average of $270.
If you are currently looking for a life insurance policy, then you are aware that it plays an important role in our life. You know that you cannot just select any plan that is presented to you by any company or some agent. There is a wide range of selections out there and you must be careful in deciding what to purchase. So to help you find the most affordable and beneficial plan available, below are some guidelines for you to take note of:
Owning a house is a dream for all of us. But a good house is a costly affair these days. Purchasing a house thus requires a lot of borrowed money. If you are a borrower, you need mortgage insurance if your down payment is less than 20% of appraised market value or purchase value of the property you are purchasing. The mortgage insurance does not protect you. It protects your lender from the risk of your defaulting on the payment to him. Mortgage insurance can be availed of from both the government and the private players, government providing mortgage insurance even at less than 3% down payment.
fers a guaranteed future payment for a contracted event. The company offering the guarantee charges a premium for insuring against the event’s occurence – in doing so, the insurance company is protecting the client against certain circumstances, say physical capital loss due to a natural disaster. The insurance company assumes all financial responsibility associated with the client’s losses.
