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Usage based insurance programs come to New York state

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usage based insurance dashboardDrivers will now be able to choose if they want their habits behind the wheel monitored by their insurers.

Though New York does already have some usage based insurance options, the large players are now making their way through the state to provide good drivers with the chance to save on their premiums by revealing their driving habits to their insurers.

The programs come with a small electronic device installed on the car to transmit driving data to the company.

New York is not alone in its usage based insurance availability. There are currently dozens of other states in which the auto insurers are offering these programs. However, what is new to NY is that city officials and the two leading insurance companies that offer the programs are now both applauding the benefits available to customers.

The New York City Transportation Commissioner has now given her backing to the concept of usage based insurance.

Both Progressive and Allstate have usage based insurance programs available to New York drivers. Janette Sadik-Khan, the NYC Transportation Commissioner, has said that this type of coverage creates an incentive to drive more safely. She explained that “I think that when people realize they can save real money, and you can save money by driving safely, I think we’ll see safer driving and money in the pockets of New Yorkers.”

Sadik-Khan explained that it makes practical sense both for safety, and financially, for the residents of New York, who already typically drive less frequently or shorter distances than individuals in other parts of the United States, as public transit is widely available.

The general manager of usage based insurance at Progressive, Dave Pratt, said that this is a very positive opportunity for the people of New York, particularly those who use public transit regularly. He explained some of the ways that savings can be generated from premiums is to avoid driving during the most dangerous times of the day, practice safe driving habits, and to drive less. He also guessed that this might encourage people to drive even less, lowering the amount of traffic on the roads at any given time.

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