While there has been lots of talk in the auto industry of prices increasing (from vehicles to gas prices), there’s also been news of one industry that may be falling.

The Detroit Free Press wrote in late December about a man named Chris Gay and his insurance company, MileMeter. A whole new kind of insurance company, Gay is seeking to change the insurance industry in a way that will help drivers and not necessarily insurance executives. MileMeter is only allowed to offer insurance in Texas as of the article’s publication, but is looking to make its way into other states.

MileMeter offers insurance costs based on the number of miles a car drives a month. This has been largely unheard of before this company. If this coverage catches on, those who drive only small amounts (college kids, senior citizens, families with more vehicles than people) will begin to save large amounts of money. According to the article, over 2/3 of American households will be able to save money using this mile-based coverage.

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