Progressive Offers Behavior-Based Insurance Program to Texas Drivers

July 21, 2009

Progressive Insurance announced it is launching in Texas an optional car insurance program that offers lower rates on vehicles that are driven in less risky ways.

The behavior-based insurance program, called MyRate, gives drivers a customized rate based on how, how much, and when their car is driven. It is now available to Texas drivers who purchase policies directly from Progressive online or by phone, or through its more than 3,200 independent insurance agents in the state.

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 can receive a lower premium.

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.

Drivers will be able to see whether they are on track for a discount or an increase by reviewing their driving data at anytime by logging in to their policy on progressive.com. They can see how their driving habits are affecting their rate, and, if they choose, make behavioral changes that could lead to savings.

Progressive has received patents on its methods and systems of implementing usage-based insurance and has licensed these methods and systems to other companies. Progressive also has a registered service mark in Pay As You Drive.

More information can be located online at www.MyRate.com.

Source: Progressive Group of Insurance Companies

Topics Texas Personal Auto

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