Recent data has been suggesting that a growing number of consumers are attempting to save money by reducing the amount of driving that they’re doing.
Though the main reason for this is to decrease the amount of gas that is used, and lower the amount of maintenance needed on the vehicle, Travelers is now offering another incentive to customers to keep their mileage down. The new IntelliDrive insurance product rewards low-mileage drivers with discounts of up to 5 percent at the time of enrollment, and an additional discount of up to 20 percent at the time of renewal, depending on the number of miles that have been driven in that time.
Vice president Elaine Baisden of Travelers Personal Insurance said that the new mileage-based insurance product will be attractive to those consumers that are making efforts to decrease the expenses connected with their vehicles. She explained that the IntelliDrive insurance product is “something we’ve been monitoring for some time, and IntelliDrive fits with the growing demand for an auto insurance product that is more personalized than ever.”
The program works by measuring the mileage on a vehicle through the use of a small electronic device that can be easily installed by a customer into the vehicle. They can then access personal IntelliDrive driving reports online by way of a secure site.
The reports show the driver the data that has been collected about the use of the vehicle, including the driving style received by the vehicle and some environmental considerations such as its carbon footprint and fuel economy.