Progressive Insurance has announced that it has received a patent for usage based system technologies for the fourth time for its Pay As You Drive program, which is available to drivers in the United States. The program involves using a driver’s safety score to change his or her premiums based on monitored driving data and is now patented under U.S. Patent No. 8,090,598. The usage based insurance (UBI) program at Progressive is called Snapshot, and it is now available to drivers in the District of Columbia and 39 other states.…
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California Car Insurance: Sequoia offering new “Pay As You Go” insurance plan
Following the latest insurance trend sweeping the nation, Sequoia Insurance Co., one of the largest insurers in California, will begin offering a pay-as-you-drive auto insurance policy. Sequoia joins State Farm and Progressive in offering this particular policy, increasing the options available to California drivers. Progressive was the first to incorporate this concept into their coverage options after finding that fewer people were taking to the road in light of rising gas prices and other costs. Drivers interested in the coverage must first have a small device installed in their vehicles.…
Read MoreProgressive offers a huge discount with new “Pay As You Drive” program
Earlier this year, the Progressive insurance company began offering Florida residents a pay-as-you-drive insurance program. Dubbed Snapshot, the program gives consumers lower rates of approximately 30% on average, based on their driving behavior. The insurer analyses driving habits with the help of a small device that is installed in vehicles. According to the insurer, the device has tracked over two billion miles, and is now ready to be used throughout the nation. Drivers that signed up are reporting a savings on average of $150 annually. Progressive notes that the possible…
Read MoreProgressive announces new options in car insurance
Progressive, the second largest auto insurer in Florida, has announced their new program that will provide discounts to drivers that spend less time on the road. To be eligible for the coverage, drivers must allow the insurer to track how much they drive. This usage based insurance is designed to encourage people to drive less, lowing greenhouse emissions, and also to provide more accurate pricing on auto policies. The plan will specifically benefit travelers who leave their cars parked at airports for several days, families with additional, less used vehicles,…
Read MoreCalifornia drivers get a break with new “pay as you go” insurance plans
Two companies have been approved by Insurance Commission, Steve Poizner, to offer low mileage insurance for California residents beginning in Feburary 2011. State Farm and Auto Club of So. California is expected to roll out discounted rates and incentives for people who drive less – other insurers are expected to follow. State Farm’s plan is to collect odometer readings at the time of signing up or if the client has an OnStar system with GMAC, they can submit electronically. Afterwards checks would be done by the company or other outside…
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