A new report reveals that more Americans are making a U-turn on the issue of Pay-As-You-Drive, or usage-based auto insurance programs that reward safe driving.
But there appears to be a generational gap in their responses. While privacy issues are cited as the number one concern, 27 percent of drivers between 50-64 say they wouldn’t use such a program compared to 15 percent of Millennials. The survey shows 51 percent of Americans would not consider joining a PAYD program – a 37 percent increase over last year.
The survey was conducted by Princeton Survey Research Associates International with 1,001 adults, according to an article published on InsuranceQuotes.com. Just over half of Americans, 51 percent, say they would not consider enrolling in such a program.
Pay-As-You-Drive Programs use a device to monitor your driving, which may include how hard you brake and whether you tend to speed. For good drivers, many insurers say they’ll see a discount of 5 or 10 percent just by installing the device, states a U.S. News & World Report article. The article said some insurance carriers aren’t clear whether bad drivers could be penalized.
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