Progressive's MyRate is a personalized car insurance program that offers discounted rates to safe drivers and individuals who drive less frequently. MyRate is based upon how well a person drives and certain factors determine whether or not an individual is a good candidate for MyRate. These factors are: defensive driving, driving less than 10,000 miles per year, and rarely driving after midnight. If you meet these requirements, then you may be eligible for Progressive's MyRate program. It is important to mention that MyRate is not offered in all states at this time. MyRate is currently available in fifteen states.
Once enrolled in the MyRate program, Progressive will send you a small electronic device. The device is to be plugged in to the driver's vehicle, usually in the diagnostic port. Once installed, the driver continues to operate the vehicle as he or she normally would. The MyRate device functions by collecting data from the vehicle and wirelessly transmitting information to Progressive. The information is then used to determine renewal discounts on car insurance rates. All MyRate data can be tracked by logging onto the Progressive website and viewing your personal policy.
MyRate devices will work on all vehicles manufactured from 1996 and on.
It is possible that car insurance rates may increase under the MyRate program. This is due to the state you reside in and your driving techniques. For example, in some states you may be charged a $30 fee for the MyRate device. The expense covers the cost of the technological device and the cost to wirelessly transmit data. Additionally, your driving habits may result in a surcharge that could increase your car insurance rate. Surcharges vary by state.
With the MyRate technology, you have the ability to track your driving habits and rates. If your driving habits negatively affect your car insurance, MyRate gives you the opportunity to improve your driving skills. Improved driving skills will lead to lower car insurance rates and other car insurance discounts. To qualify for increased discounts, drivers should avoid the following actions: excess mileage, excess acceleration, hard braking, driving during peak hours, and driving after midnight.
If you enroll in the MyRate program and later decide you want to leave, you have the option to terminate enrollment at any time. Participation in the MyRate program is voluntary. However, once you have left the program, any driving data recorded from your MyRate device will not be used to determine future car insurance rates. You must also return the MyRate device to Progressive.
Overall, MyRate is a revolutionary program that rewards good drivers with lower car insurance rates and convenient discounts.