Why the standard automobile insurance market breaks down in low
income zip codes: A per-mile analysis of Texas auto insurance based on
testimony before the Texas House Committee on Insurance april 6 and
Technical Report 633, Cents Per Mile Now, July 2000.
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The Texas legislature relied on this analysis of zip-code pricing (red lining) and uninsured cars in passing the “cents-per-mile choice” law to cure these and other maladies produced by fixed annual rates per-car. As introduced, the legislation drafted to NOW's specifications made the cents-per-mile option a “mandatory offer” to all customers by all companies after a two year phase-in period. As passed, the law makes offering cents-per-mile rates as an alternative to annual rates per car voluntary for companies. Consumers need to demand that companies take the cure: measure the miles of protection they sell for the customers who want it.
Keywords: transportation demand management, insurance
Todd A. Litman.
Pay-as-you-drive pricing for insurance affordability.
Technical report, Victoria Transport Policy Institute, Victoria, BC,
Canada, May 2004.
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Keywords: transportation demand management, equity, insurance
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