Colorado Drivers Can Now Save Big Bucks Based on How They Drive as Progressive Launches One-of-a-Kind Car Insurance Program
Business Wire, June 08, 2009
Optional Behavior-Based Car Insurance, MyRateSM,
Lets Lower Risk Drivers Pay Less
MAYFIELD VILLAGE, Ohio — Are you the poster child for safe driving, always leaving plenty of
space between you and the car ahead? Or a business traveler who parks
your car at the airport several days a week? Or maybe you have a car
that you only take out for a spin on warm summer days. If so, your car
is probably less likely to be involved in a crash, so shouldnt you pay
less for car
insurance?
Progressive thinks so, and thats why its introducing 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. It is now available to Colorado drivers who purchase
polices from Progressive through its more than 1,000 independent
insurance agents in the state. It will also be available to customers
who purchase polices directly from Progressive online or by phone in
mid-August.
MyRate is designed for consistent and safe drivers, said Richard
Hutchinson, Progressives MyRate general manager. Its for people who
drive at low risk times of day and who keep alert for others on the
road. They dont make fast lane changes or follow too closely behind
other drivers so they dont have to over-react or slam on the brakes.
MyRate uses Progressives patented technology to put consumers in
control of their auto insurance rates. Drivers who choose to sign up for
MyRate receive a device that plugs into a port in their car and measures
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.
Drivers with more than one car can select which, if any, of their
vehicles to enroll in MyRate. For example, a person with a second car
that isnt driven that often may enroll that car in MyRate but may
decline to enroll their other vehicle if it is driven much more
frequently or during higher risk times of day.
New Colorado customers get an immediate first-term discount of up to 10
percent when they sign up for MyRate and, to cover the cost of the
device and data transmission, a $30 technology expense is added to their
premium for each policy term that theyre enrolled in the program
ohio auto insurance
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