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| Credit Answers > Debt-Management-Articles-2009 > Pay-As-You Drive Vehicle Insurance |
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New revised regulations in California will allow insurance companies to give their customers the option to choose a coverage plan that could be paid by the mile. Under the plan,
California motorists would be able to purchase a certain number of miles for a specified time similar to individuals who buy prepaid minutes for their cell phone, according
to www.insurance.ca.gov.
According to California Commissioners, the pay-as-you-go proposal could benefit not only motorists, but also the state and environment since the plan gives premium discounts for those not operating
their vehicle over a certain amount of miles.
Those interested in the plan should check with their insurance company. The drive less, save money plan isn't right for everyone. For example, customers who reside in a rural area or those who commute
a considerable distance to work may end up paying more in the long run if they choose the pay-as-you-go plan.
Even if you decide that the pay-as-you-go plan isn't right for you, or if you are not a California resident, visit the web site www.onlineautoinsurance.com
to compare rates from a variety of companies. Many websites offer instant quotes from a multitude of insurers.
Class Action Filed Against Extended Car Warranty Schemers
If you recently received information in the mail regarding extended warranty information for your vehicle, make sure that you read the fine print. A class action complaint was recently filed in the U.S.
District Court by an Illinois consumer, individually and on behalf of other customers nationwide who have purchased so-called "extended warranty" vehicle service contracts.
According to www.bankrate.com, the complaint details the ongoing, wrongful scheme of the company in question to obtain hidden interest charges and
penalties from consumers who cancel their service contracts before the term of coverage expires. The complaint charges that the defendants make a practice of heavily penalizing car owners with large
interest charges and marketing fees that are not spelled out in their contracts. This practice is in violation of the Federal Truth in Lending Act and the Illinois Consumer Fraud Act. If you receive
an extended warranty offer, you may want to do some research before making a commitment to that company.
Credit Answers specializes in debt management, credit card debt settlement, debt negotiation and bankruptcy
alternatives. Credit Answers team of experts work to enable a new and fresh financial start for individuals with debt problems. We realize the importance of money in people's lives and also the accompanied
strain that debt can cause. Our team has helped thousands of clients across the nation.
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