Progressive Insurance has announced something in Michigan called the Snapshot discount plan. Sure, we’d all like to save money on our car insurance but what if your insurance company knew exactly how you have been driving at all times?
Here’s the deal. Progressive Insurance will cut you some slack on your car insurance if you will allow them to hook up a GPS device to your car that would track your every move. They could monitor your speed, how hard you jump on the brakes and of course, how many miles you actually travel.
If you’d be willing to give up that kind of information, the Snapshot plan could save you up to 30% on your car insurance.
A similar program is being offered in 27 states and so far 100,000 customers have taken advantage of it.
Personally I wouldn’t go for anything like that. Then again I’m a safe driver (no accidents) and I haven’t gotten a speeding ticket since 1974 so my rates are pretty down to earth to begin with. What about you? Would you consider Progressive’s plan? Take our poll below.