March 15, 2011 - Would you allow your auto insurance company to track your driving habits for 30 days if it meant you could save more than 30% on your auto insurance? Progressive Car Insurance is expecting that many people are interested in this option and subsequently have developed their Snapshot Discount PAYD (Pay-As-You-Drive) Program.
The PAYD program works like this; a technological device, called a "Snapshot" is sent to the insured and they connect the device to the onboard diagnostic system of their vehicle. According to Progressive's website, the Snapshot device monitors "driving patterns based on number of miles you drive, time of day you drive and how often you make sudden stops. People who drive less, in safer ways and during safer times of day could get a discount." The device also captures vehicle speed, VIN number of the vehicle, and whether or not the device has been disconnected from the vehicle. Reportedly, it does not have a GPS monitoring capability nor does it capture whether or not you are exceeding the posted speed limit.
Progressive began a national advertising campaign for Snapshot Discount program on Monday. The program is currently available in 32 states; Alabama, Arizona, Colorado, Connecticut, Florida, Georgia, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Montana, Minnesota, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New York, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Texas, Utah, Vermont, Virginia and Wisconsin. Progressive Insurance indicates that this will be rolled out to additional states throughout 2011.
We want to know what you think; does this technology provide a great way to lower your car insurance rates or does this border on feeling too much like Big Brother? Check out our blog to share your thoughts.
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