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Title:

Pay-As-You-Drive Insurance Product Rating System

Accession Number:

01340170

Record Type:

Component

Abstract:

Pay-As-You-Drive (PAYD) vehicle insurance directly incorporates mileage as a rate factor when calculating premiums. This offers motorists a new financial incentive to reduce annual vehicle travel, which can provide various benefits to users and society. There are several possible ways to implement PAYD insurance, some of which provide more impacts and benefits than others. This paper describes a PAYD insurance rating system. It discusses various issues to consider when designing and evaluating PAYD pricing, recommends specific performance standards that policies must meet to achieve Platinum, Gold, Silver and Bronze ratings, and evaluates the impacts and benefits that such policies would achieve. It also examines various objections to PAYD pricing and describes ways to address them.

Supplemental Notes:

The DVD lists the title of this paper as: Pay-As-You-Drive Performance Standards.

Monograph Accession #:

01329018

Report/Paper Numbers:

11-4255

Language:

English

Corporate Authors:

Transportation Research Board

500 Fifth Street, NW
Washington, DC 20001 United States

Authors:

Litman, Todd Alexander

Pagination:

18p

Publication Date:

2011

Conference:

Transportation Research Board 90th Annual Meeting

Location: Washington DC, United States
Date: 2011-1-23 to 2011-1-27
Sponsors: Transportation Research Board

Media Type:

DVD

Features:

Figures (1) ; References (3) ; Tables (3)

Uncontrolled Terms:

Pay-as-you-drive

Subject Areas:

Administration and Management; Economics; Highways; Policy

Source Data:

Transportation Research Board Annual Meeting 2011 Paper #11-4255

Files:

TRIS, TRB

Created Date:

Feb 17 2011 6:48PM