One of our several partners whose insurance policies we sell, Progressive Insurance, recently introduced their Snapshot Discount in Maine–marking our very first exposure to a Pay-As-You-Drive (PAYD) approach to automobile insurance. If you are willing to snap a data collection device into your vehicle’s diagnostic port, enabling the insurance company to collect specific information about your driving habits–you could save money.
Upon installing the device, it begins collecting driver-related data such as time of day and vehicle speed. Altering behaviors like gentle braking and driving fewer miles than the average for your state can help improve your discount. After about a month, you send the device back to Progressive for your discount to be finalized.
Time will tell just how Maine insurance consumers feel about revealing the details of their driving styles in this manner–even for a discount. For now, we are offering access to this cutting-edge PAYD automobile insurance program to our clients who express interest and qualify. And we’ll continue to monitor it and report back in the future. No one can accuse Progressive of lacking innovation!
Dennis H. Hilton, President