CA Looking Into "Green" Insurance... What do You Think?

Drive less, save on insurance and save the planet. Sounds like a good plan and CA wants it. According to www.bizjournals.com, "The California Department of Insurance wants Golden State drivers to drive less, save money and save the planet, all at the same time. Insurance Commissioner Steve Poizner said Wednesday he’s planning to make a new green automobile insurance option, known as “pay-as-you-go,” available to California drivers as early as the fall of next year by proposing new regulations that will make the new option feasible."

Pretty much, the plan would work like this: You get a device on your car that calculates how much you drive or you verify regularly your odometer readings and you pay according to how many miles you have actually driven. It is like a budget for your car. If you know you only have a certain amount of miles to use before you have to pay more, then you may budget your miles more and use your bike. What do you think? Do you think it is just good in theory but not really practical? Leave your comments to this blog and let us know.