I don’t usually cover auto insurance matters, but this is something that I am interested in because one of the states where this program is offered is Minnesota (where I live).
Auto insurer Progressive Corp. has begun offering its drivers the chance to cut their costs based on how they actually drive, not only on their age, credit score and number of tickets or accidents on their record.
The monitoring device - sort of like a black box for cars - tells Progressive what time people drive, how many miles they've driven, how fast they accelerate and how often they hit the brakes. It does not track where people go.
Other insurers are offering similar programs, and if this pans out, we could see this become a common feature. American Family Insurance is offering a teen driver monitoring program to help reduce premiums and accidents. GMAC and OnStar have rolled related programs that give a discount to those who drive fewer miles.
The AOL story is at http://autos.aol.com/article/news/_a/car-insurer-offers-discount-to-drivers/20080729124709990001?ncid=AOLCOMMautodynlsec0004&icid=200100397x1206607179x1200366511
Monday, August 4, 2008
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