Drivers 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…
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Auto insurers introduce pay as you drive insurance
Usage based coverage is increasing in popularity among carriers and drivers. Large insurers such as Allstate and Progressive are taking the auto industry in a new direction with pay as you drive insurance policies that track a motorist’s average speed, mileage, and other driving details that can help those customers to experience significant discounts in their premiums if they prove to be good drivers. Though usage based policies had a slow introduction, these efforts are now being accelerated. Carriers are finding that the popularity and possibilities of this type of…
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