As seen on the business page of the Aug. 18, Houston Chronicle, auto insurer Progressive Corp. has developed a MyRate driving monitoring system. It might be of interest to well-behaved drivers.
This is what Progressive has to say about the program:
MyRate combines driving data, wireless technology and Progressive’s knowledge of predictive behavior to charge drivers a rate based on how they drive. When customers choose to participate, they receive a MyRate device that plugs into their car’s onboard diagnostic system. It records how, how much and when the vehicle is driven and teaches drivers about their driving habits.
When you participate in the MyRate program, the price you pay for insurance is based on how much you drive and your driving behavior. When you choose the MyRate option, we consider certain driving habits, including: How far you drive; when you drive; and how aggressively you drive.
Safer drivers could receive discounts on their auto insurance, while other drivers may pay more based on their driving habits.
Are you ready to try this black box for cars?