Dear Council members:
Interesting idea.......................
Texas Environmentalists Praise By-the-Mile Auto Insurance Option - Innovative Insurance Policy Reduces Premiums, Congestion and Air Pollution:
Environmental Defense Fund, November 12, 2008
http://www.edf.org/pressrelease.cfm?contentID=8801
Texans will become the first in the nation to have a “by-the-mile” choice of auto insurance that gives drivers the opportunity to save money while also protecting the environment. MileMeter recently launched a pay-as-you-drive (PAYD) insurance program that will reward low-mileage drivers with lower premiums than traditional, flat-rate insurance. A Brookings Institution report released in July estimates that if PAYD were offered to all drivers, it would save two-out-of-three households an average of $270 per car, result in an 8 percent decline in driving, reduce driving-related damages by $50 billion to $60 billion, and cut carbon dioxide emissions and oil consumption.
Thanks,
Ronda