Posted: Mon Aug 18, 2008 4:23 pm Post subject: High tech gadget to help lower rates for some drivers
Progressive is beginning to roll out what the call a "black box for cars." A black box is the monitoring box (it's black, go figure) that is used for airplanes to record flight data and is especially helpful when investigating a crash.
Basically what this device will do is monitor how often you hit the brakes, if you have to slam on them, and also if you swerve or accelerate quickly when you are driving.
The discount for signing up is at 10 percent, but your rates could lower as much as 60% with very safe driving, including driving at certain hours of the day, but if you drive like a maniac, your rates could actually go UP as much as 9%.
I see it as a positive because if gives people who have had accidents or tickets but are truly good drivers to redeem themselves because that is not factored in to the use of the device. Some people really do get stuck at the wrong place at the wrong time and as a result have to pay sky-high premiums, but now they can get a little redemption. If they really aren't good drivers, they can enjoy yet another increase to their payment.
The only downside as this is being rolled out is that there is a potential for some type of malfunction within the electronics of it and someone will end up getting a huge bill because it will say they have been driving around in the dark going in reverse or something. _________________ Visit The Insurance Files for information on auto, health, life, homeowners and more!
Click here for a free health insurance quote!
Beginning? I remember when they started this program about 7 years ago. I think Progressive has been offering it since that around 2004.
What if the data shows you consistently drive over the speed limit (does anyone do that?)? Will Progressive then increase your rates for this reason (probably). What if your in an accident... they can then obtain the date from the black box and use it against you. Progressive would like for people to think this will result in discounts only but I doubt that is the whole truth.
Yea! Will Progressive then increase your rates for this reason (probably). _________________ CarInsuranceZine.Com: A Great Car Insurance Article Directory
