MyRate® Available to Rhode Island Drivers
MyRate®, Progressive’s optional, one-of-a kind, behavior-based car insurance program that gives drivers the chance to save big bucks based on how they drive, is now available in Rhode Island. Drivers who choose to sign up for MyRate receive a device that plugs into a port in their car and measures how, how much and when the car is being driven. Cars driven less often, in less risky ways and at less risky times of day could receive a lower premium.
[Progressive’s MyRate Program lets drivers pay based on how, how much and when their car is driven.]
It is now available to Rhode Island drivers who purchase policies directly from Progressive online or by phone, or through its more than 200 independent insurance agents in the state.
Rhode Island drivers who sign up for MyRate could save as much as 25 percent or more on their renewal rate or be charged up to 9 percent more based on their driving habits. To cover the cost of the device and data transmission, a $30 technology expense is added to their premium for each policy term that they’re enrolled in the program. No technology expense is charged during the first term a driver is enrolled in the program.
Progressive has been an industry pioneer in understanding that how you drive should affect what you pay, starting with a usage-based program called Autograph in 1999 and later a program called Tripsense®.
The MyRate program will continue to be rolled out to more states in 2009, pending state regulatory approval.
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