The phenomenon known as pay as you drive insurance (PAYD) is taking the auto insurance world by storm. Drivers who don't spend a lot of time behind the wheel are finding that they can save a lot of money by paying only for insuring the mileage that they actually use.
In this new world of pay as you drive insurance, some basic guidelines and handy tips apply for getting good rates for this kind of coverage.
- Know your mileage - the best pay as you drive insurance policies are offered to drivers who know exactly how many miles they will be traveling in any given time period. This means planning your life and your driving habits to a T.
- Put up with the invasion of technology - another aspect of some of the best pay as you drive insurance policies is high-tech gear that insurers put in a driver's vehicle to conveniently see how much mileage is being used. Pay as you drive insurance is this kind of trade-off: if you don't value your privacy very highly, you can see a large reduction in your insurance rates.
- Drive in the daytime - many insurers are reporting that their best pay as you drive insurance rates are given to drivers who don't use their vehicles in the high-risk hours between midnight and 4 AM.
- Drive in the country - country drivers routinely pay lower on Pay as you drive insurance than their city driving neighbors. If your miles are mostly country miles, you may stand to benefit from this kind of policy.
The above are just some basic guidelines for getting good pay as you drive insurance rates. The rest is a question of planning your schedule and building your policy according to your specific needs.
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