Pay As You Go Insurance
If you are concerned about the high price of insurance then possibly it’s time for you to look at a fresh and innovatory kind of automobile insurance. Pay as you go or pay per mile insurance is slowly gaining popularity.
Most pay as you go insurance policies require you to pay your insurance premium upfront as normal, but if you cover less miles than expected you get a refund. A few providers give you a quote, which you then pay on a monthly basis. At the end of the year you either get a refund if you cover less miles than expected or pay an additional premium if you have covered more miles than expected. Still others allow you to pay a variable monthly premium that is calculated on the miles you actually cover, but there is a minimum premium that you must pay each month regardless of how many miles you actually cover.
The main benefit of pay as you go car insurance is that you only have to pay for your actual usage. The miles you cover are monitored by a tracker that’s fixed on your vehicle. In the event that your vehicle is stolen that exact same tracker is used to locate your vehicle. Essentially you’ve been given a free of cost vehicle tracker by your automobile insurance agency.
The majority of pay as you go insurance policies are fully comprehensive meaning that you get windscreen protection, personal possessions and personal accident coverage at a very competitive price.
Pay as you go insurance can be especially useful for younger drivers. They’re willing to insure younger drivers and provide low rates if younger drivers are willing to avoid driving at particular times of the week. The time slots which are the most costly are usually those in which young drivers statistically have more accidents for instance, Fri, Sat, Sun and bank holidays 11pm-5am. As long as the young driver does not drive lots of miles and avoids the expensive periods of the week pay as you go insurance is normally less expensive when compared with standard insurance policies.