tyeeOver at The Tyee this morning, you’ll find an editorial piece from me and Alan arguing that British Columbia should finally get around to adopting Pay-As-You-Drive car insurance. Maybe it sounds like a small thing, but it’s a policy with a lot of leverage.

To wit:

Car insurance in British Columbia is like an all-you-can eat buffet: once you’ve made the purchase, you may as well gorge. Mileage is correlated with risk; the more you drive, the more likely you’ll crash. But unlike a driver’s age and safety record, insurers have historically underweighted mileage in their rating formulas…

Essentially, pay-as-you-drive makes buying car insurance like buying gasoline: drive less, buy less.

In a nutshell, PAYD is a smart low-cost solution that reduces energy use and saves money at the same time. And it’s a policy that is particularly well-suited to British Columbia, though the province has been frustratingly slow to try it out.
You can read our full argument here.