MyRateSM Available to Texas Drivers
MyRateSM, 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 Texas. 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 Texas drivers who purchase polices directly from Progressive online or by phone or through its more than 3,200 independent insurance agents in the state.
New Texas customers get an immediate first-term discount of up to 10 percent when they sign up for MyRate and install the device. When they renew their policy, they could save as much as 25 percent or more, or be charged up to 9 percent more, based on their driving habits. There is also a $30 technology expense each policy period for the cost of the device and data transmission.
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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