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…
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Progressive and Allstate come to settlement about patent use
Allstate Corp and Progressive Corp, the auto insurers, have reached a settlement for a patent dispute that had been occurring between the two insurance giants, which was over technology that allowed the companies to alter a driver’s premiums based where, how, and how frequently he or she drives. The dispute began when Progressive filed a lawsuit against Allstate, claiming that the latter had infringed on patents and trademarks owned by the former, which are a part of “usage-based” insurance. Progressive released a statement that explained that some of its patent…
Read MoreState Farm uses telematics to help drivers obtain better car insurance rates
State Farm has announced that it has partnered with Hughes Telematics Inc. in order to give its car insurance customers the opportunity to use an in-vehicle device so that they may lower their auto insurance rates. State Farm is calling the program In-Drive, and uses technology developed by the Atlanta-based telematics company to give its Illinois policy holders a chance to take part in the program starting in September. Other states may also be offered this program in 2012. The features of the technology are comparable to some of those…
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,…
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