Add yet another insurer to the list of those offering a more affordable way to insure your car.
Sequoia Insurance Company based in Monterey was approved recently as one of three companies to offer pay-as-you-drive auto insurance coverage according to a spokesperson for the state's insurance commissioner.
The Automobile Club of Southern California and State Farm Mutual Automobile Insurance already offer such coverage to their customers.
Under its "Drive Safe and Save" plan, State Farm offers an initial 5 percent discount for the first policy term to insured drivers who agree to self-report their odometer readings at the beginning and end of each policy period or who agree to allow the company to access their mileage data automatically when the insured's vehicle has a monitoring system, according to the company.
The Auto Club's "Pay-Drive" 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 attach in a small monitoring device to their vehicle.
Pay-as-you-drive insurance policies are voluntary for California drivers but can help those who drive fewer miles save money by only being charged for the insurance they need and use.
