Don’t Drive Much? Get a Discount on Insurance
It looks like technology is finally catching up with consumer demand. Both GMAC and Progressive are beginning to offer discounted auto insurance based on the amount of miles you drive. This has been notoriously difficult to implement in the past, because drivers often lie when giving mileage numbers to insurance companies.
Now, new onboard technologies are allowing insurance companies to track your mileage…and other driving habits. GMAC is taking advantage of their OnStar technology to give discounts ranging from 14% for those driving less than 15,000 miles per year to 54% for those driving less than 2,500 miles per year. Progressive tracks mileage and other driving habits using their TripSense program which requires installation of a small device onto a car’s onboard diagnostic port. Customers must then download the information at regular intervals and send it to Progressive. Discounts for this program range from 5% to 25%.
Hopefully other insurance companies will begin to offer similar programs in the near future. However, be sure to read the fine print to make sure you are comfortable sharing certain non-mileage information that the agreement may require.
Source: Wall Street Journal
If you liked this post, make sure you subscribe to my RSS feed or subscribe by email!
Related Posts:
- Negotiate Anything and Everything- Don’t Ask for a Raise or You Could Be Shot
- Percentage Deductibles: Coming to a Policy Near You
- 111th Carnival of Personal Finance is Up
- Big Cities to Become More Unaffordable
- Paying by the Month or Paying Annually - Determining Which Makes Sense for You
- Thinking About Ditching School? Think again.
- Don’t Break the Budget with Large Expenses
- Wait! Don’t Pick Harvard Just Yet!
- Tips to Avoid a Bad Mortgage
Discount Car Insurance Online said
am February 14 2008 @ 2:39 am
Online Discount Shoe Shopping…
Shoes are a very important part of our wardrobe. The perfect pair of shoes can bring an outfit together….