PAYD


Also found in: Wikipedia.
AcronymDefinition
PAYDPay As You Drive
PAYDPay As You Dine (UK armed forces)
PAYDPennsylvania Young Democrats
References in periodicals archive ?
In 2010, companies such as Qualcomm introduced a PAYD system, and Renault introduced a similar system for fleets.
Perhaps related, the majority of respondents incorrectly think that PAYD programs monitor for drunk driving and driving in high-crime neighborhoods (they do not).
Early concepts of PAYD technology were clumsy at best, but the idea is the same as in the early days: to determine customized insurance rates for drivers.
But PAYD programs often involve a form of mileage verification that allows coverage providers to incorporate actual data on miles traveled, rather than just an estimate from the driver, into their rating calculations.
State and federal officials are getting behind PAYD because research suggests that if premiums were charged based on miles driven, there would be a reduction in driving and related congestion, along with fewer crashes and less pollution.
In Oregon, for example, insurance companies that offer PAYD policies receive a $112 tax credit for each policy sold.
Would a PAYD approach to all insurance be the answer?
Typically, PAYD programs won't raise your rates if your driving isn't up to par.
The MHub837 is a new generation driver behavior monitoring and GPS tracking device specifically tailored for the PAYD insurance market initiative.
While New England is leading the PAYD movement on the East Coast, the PAYD concept is also gaining momentum on the opposite side of the country.
First conceived a year ago, at the height of a record surge in gasoline prices, the proposed PAYD regulations would
0ne of the biggest advantages of PAYD insurance is the possibility of saving money, which is likely if you don't drive more than average.