A One of a Kind Insurance Program: Harmful?

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Those who work diligently to keep their eyes on the road, maintain a safe distance and obey the speed limit often fall mercy to careless drivers who speak on their cell phones, apply make-up, eat bowls of cereal and conduct other bizarre behaviors best suited for the privacy of their own home.Safe and cautious drivers may feel doubly burned by the ludicrous activity on the road as not only are these drivers putting them at risk, but generally speaking, they are all pooled together by the same demographic information that determines the overall insurance rates they are charged. Thanks to the forward thinking of Progressive Casualty Insurance Company, that is changing for Colorado drivers.


Progressive just launched a new program called “MyRate” where a driver’s behavior on the road can have a positive effect on their auto insurance costs. Good driving behavior is moderated by apatented technological device that plugs into aport in their automobile and subsequently tracks the amount of miles driven, time of day and riskymaneuverson the road. Those signing up for the program get an immediate 10% discount and if they renew the program, additional discounts of 25% or more can be theirs. There is an additional cost of $30 on each policy term to cover the cost of the device and data transfer, but that can easily be offset by the long term savings safe drivers can benefit from.

MyRate Could Hurt Your Premiums

Richard Hutchinson, Progressive’s MyRate general manager stated that”MyRate is designed for consistent and safe drivers.” Those who opt into this Colorado program need to be aware that if they are not as safe as they believe may be penalized with additional charges of up to 9% or more. There are also many details of MyRate to consider before signing on.

The hope for consumers who are consistently safe and prudent in their driving style is that this program becomes available across the nation. Until then, conservative drivers need to remain on their toes and find the lowest car insurance rates currently available to them in their home state, and Go Insurance Rates can make that task quick and easy.

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