(Los Angeles, Jan. 31, 2011) -- The Interinsurance Exchange of the Automobile Club’s verified mileage (or pay-as-you-drive) discount program will be available to Southern California drivers beginning Feb.1, 2011. The Auto Club program is the first to be approved by the state insurance commissioner, the first to take effect, and one of only two such programs approved in California.
The Auto Club’s verified mileage program is available to insured drivers who agree to report their odometer readings at the beginning and end of each policy period or who agree to install a small "telematics" device in their vehicle which will automatically record the number of miles driven. Policy premiums for those using the verified mileage program will be up to 10.5 percent lower than for Interinsurance Exchange policyholders who choose to continue estimating their miles driven.
Existing policyholders who choose to be part of the Auto Club's verified mileage program will pay an average of $68 per vehicle less than those who choose not to be part of the program. Those wishing to provide mileage to participate in the program can visit AAA.com/MyIQ.
“Since the Auto Club began offering auto insurance in 1912, we have focused on providing members with quality service and competitive rates that accurately reflect their driving experience," said Christopher Baggaley, senior vice president of insurance operations. "We implemented a verified mileage program because we expect that it will provide more accurate information, allowing us to offer lower rates to policyholders who choose to participate in the program."
The proprietary telematics device that will be used as part of the verified mile program has been developed by Delphi Electronics and is expected to be available in spring 2011. In addition to providing mileage verification, the device will also provide additional services for Auto Club members, including enhanced roadside assistance and vehicle location, and in the future, notification of preventive maintenance needs.
The Auto Club has been providing competitively priced auto insurance to members since 1912 and now serves more than one million auto policyholders in California.
For additional information regarding the Auto Club’s verified mileage program go to AAA.com/insurance, or visit any branch office.