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.