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Colorado now offers safe-driver discount auto insurance

Drivers in Colorado can now sign up for discount auto insurance through a pay-as-you-drive (PAYD) program that charges premium rates based on safe driving behaviors.

The PAYD program, offered by a major national insurance carrier, is becoming available across the country as state insurance regulations permit it. New PAYD discount auto insurance programs have recently become available in Texas and Nevada.

Colorado drivers who purchase the PAYD plan qualify for discounts based on safe driving behaviors such as driving less frequently, driving less often at night and avoiding fast stops and tailgating, according to the insurance company.

Participating consumers are required to use an in-car device that that measures how much the car is driven, at what times of day and how fast.

PAYD programs are growing increasingly popular as a way for consumers to save money - and for insurance companies to promote safe driving habits that result in fewer claims.

If PAYD programs were available nationwide, about two-thirds of consumers would save an average of $270 on their insurance premium, according to the Brookings Institution.

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