Jul
23
2008
Save Big Bucks Based on How You Drive
Author: Byron UdellWe all can agree on one thing. If you’re a safe driver, shouldn’t you pay less for your car insurance? Well Progressive thinks so.
They recently introduced an optional car insurance program that offers lower rates on vehicles that are driven in less risky ways. The behavior-based insurance program, called MyRate, gives drivers a customized rate based on how, how much, and when their car is driven.
The catch? Drivers who choose to sign up for MyRate receive a small wireless device that plugs into a port in their car. The MyRate device allows Progressive to see how, how much, and when the car is being driven. Cars driven less often, in less risky ways and at less risky times of day can receive a lower premium.
Is this going too far? What are your thoughts?
Tags: Home and Auto Insurance
