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Progressive gets to monitor your motoring.Starting next mo., Progressive Casualty Insurance Co. will let New Jersey drivers lop as much as 60% off the nation’s highest automobile insurance bills…If ya let them monitor your motoring.
The Program is called MyRate, Progressive’s Pay-as-ya-motor system.
The system is simple. The company gives a driver a small device that plugs into the data port built into all automobiles made since 1996.
That device tracks all the parameters of travel, including speed, time, mileage and distance, as well as how frequently the brakes are used and how quickly the automobile stops.
The device then wirelessly transmits the data back to the company, which adjusts your automobile insurance rates based on how ya motor.
While the company said some drivers could see automobile insurance rates increase by 9%, Progressive said most drivers would pretty well expect to see 10 - 15% savings. There is no penalty for not participating in the program.
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