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Pay-As-You-Drive Auto Insurance: Home

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Pay-As-You-Drive (PAYD) Auto Insurance

PAYD and Usage-based insurance (UBI) policies are being offered by an increasing number of insurance providers.  Originally envisioned as a per-mile charge, most programs also consider other factors, and many monitor customers' driving habits as well as miles traveled.  There are also fixed costs, and traditional variables are considered as well, such as age, sex, marital status, driving record, credit  based insurance score, vehicle type/age/use/garaging location, claim history, liability limits, and physical damage deductibles.  Each company files their own rating program; the Oregon base program was originally outlined in legislation some 10 years ago.  One program, Integon Metro-Mile has a range of 0.0008 cents per mile to 0.228 cents per mile.  This company weighs driving about 60% of their tier plan, with other "fixed" characteristics making up approx. 40%.  (information furnished by Jan Vitus, Oregon Insurance Division).  In the report Distance-Based Vehicle Insurance; Technical Report, author Todd Litman suggested an average charge of 0.07 cents per mile, with a potential reduction in miles driven up to 10%. 

 

 

 

Guide Author

Laura Wilt

Librarian, Oregon Department of Transportation

laura.e.wilt@odot.state.or.us

503-986-3280