Slow down, your auto-insurer is watching
Would you be willing to have your auto-insurance company install a monitoring device in your car, on the chance that you could get lower rates? If so, the Associated Press reports, here’s your opportunity:
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.
Progressive is now offering the program in Alabama, Minnesota, Oregon and Michigan, and it starts in New Jersey next week, with a national roll-out planned to go through 2009.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.