Progressive Insurance has issued a new report detailing how as many as 70 million drivers in the U.S. could be missing out on major savings. The insurer launched a new product earlier this year that collects data from drivers who opt to have a simple device installed in their vehicles. The device tracks driving habits and send the information to Progressive agents who determine whether these habits are safe. Those with safe driving habits are eligible for major discounts on their car insurance policies.
Progressive’s report draws upon data collected by Harris Interactive, a market research firm. Harris Interactive surveyed 1,003 drivers throughout the U.S. earlier in the year. According to the firm, half of the drivers surveyed drove less than 12,000 miles every year. This alone qualifies them for discounts from Progressives new auto insurance policies. The vast majority of those surveyed, 88%, claim that they never drive between the hours of 12:00 and 4:00 a.m. Progressive notes that this time frame is the riskiest time to drive and offers discounts to those avoiding the road at those times.
Progressive estimates that 39% of all drivers in the U.S. are eligible for the company’s discounts based upon the data collected by Harris Interactive. For these drivers to claim their discounts, however, they must first purchase policies from Progressive and allow the company to install a monitoring device in their vehicle. For some, this may be considered an intrusion, but Progressive’s device has already gained favor throughout much of the country.