PAYD The auto insurance’s future

PAYD stands for pay – as – you – drive, and it promises to be the future in auto insurance’s world, offering an easy way to pay and it also helps the environmental conservation, for all these reasons and more PAYD seems to be a win-win deal.

As you know most insurance policies establish that the policyholder has to pay an annual premium for all the services, no matter whether you use your car or not, and depends on your driver’s record if the insurance company lower or higher your quotes, but with PAYD, the insured will only pay exactly for the services used and nothing else and for the exact amount of miles he or she rides, therefore, people will also have the opportunity to adjust their insurance’s costs to their budget, administrating their driving according to how much they can pay, avoiding the insurance company to calculate an average premium that most of the time is not consistent with the driver.

PAYD helps the environment

If a person has more than one car in the house, because there is more than one driver at home, and all them are insured through PAYD, they could consider going out with only one car, in order to, lower insurances costs, which means that there would be fewer cars on the street, thereby helping the environment conservation by lowing the emissions and the use of gasoline.

How does PAYD work?

You must be wondering yourself, how PAYD could track the exact miles I have driven?, well, at the moment to purchase a PAYD auto insurance, the company installs a device under the steering column, this device will track the number of miles the car travels, but that is not all, it will also track how many times of the day the car is used and the speeding record, that means that if you are speeding too much, the company will know and this could affect your premium, so it is important that the driver fulfill all transit regulations.