Progressive’s New Tool to Monitor Driving and Lower Premiums: Snapshot

Progressive Insurance recently introduced Snapshot, which, they say, can save drivers who use it up to 30% off their car insurance policy.

What is Snapshot?  Snapshot is a device that you plug into your car’s USB port.  Then, for 30 days Progressive monitors your driving and tracks things such as at what times of the day you are driving, how many miles you drive, and how hard (or gentle) you are braking.

Progressive states that they do not monitor if you are driving over the speed limit and that if you agree to use Snapshot, your insurance will not go up.  Based on the information gathered, you can receive a discount on your policy of 0 to 30%.  After 30 days, you begin to see the discount.  You should use Snapshot for 6 months.  After that time, you are free to return it to Progressive, and your discount will be finalized and will stay in place until you are no longer insured with Progressive or you make a major change to your insurance.

Snapshot is currently available in 30 states.

What do you think?  Does this sound like a good or bad idea?  Would you be willing to install Snapshot in your car?

I am wondering if this is the wave of the future and many other insurance companies will begin doing this, and eventually requiring it.

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Comments

  1. Cool. I don’t mind using the Snapshot. I drive about half the time to work and the rest of the time, the car just sits in the garage. It sounds like this device would be good for my rate!

  2. We currently have Progressive. It is interesting because I was wondering if it could go up. We are both good drivers with clean records and it would be good if we could get the rate to go even lower but I would hate to do something to cause it to go up. We may consider it.

  3. I read about this recently, as long as it cant increase my premium Im all about trying it out. My commute to work is pretty short so I may actually benefit.

  4. Interesting point, although it is a OBD-II port, not USB, which is only on cars newer than ~1996. If they do ever think of making in required I’m in the clear at ’72 and ’91 :)

  5. Mindtunnel says:

    Hmm I don’t like this, Progressive claims they don’t track how fast you go yet in the disclaimer it claims that they monitor your speed. They also claim that It won’t make your rates go up but the disclosure states that they will use the info gathered will be used to determine your next billing cycles rate.

    • Yes, it seems to good to be true. Perhaps they are not tracking it yet, but one never knows what will happen in the future.

  6. Brave new world….hello…drones

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