“Most vehicles in the not-too-distant future will be manufactured with advanced data recording technology devices,” Hartwig said, although he believes opting out will still be an option.
Major auto insurers with usage-based programs include Progressive’s Snapshot, Allstate’s Drivewise, State Farm’s Drive Safe & Save, National General Insurance’s Low Mileage Discount, Nationwide Insurance’s SmartRide and Metromile. All offer general information about what kinds of driving behaviors are likely to earn customers a discount. While no company would offer precise details about how discounts and surcharges are calculated, most made it clear that they look at the whole picture of a driver’s behavior behind the wheel over a period of time.
Below is a checklist to help drivers determine if a monitoring device might be a good financial decision for them. It’s a good idea to use this checklist for at least a week and be honest, especially with regards to hard braking, which seems to be one of the biggest factors in how rates are calculated. The Insurance Information Institute’s Hartwig explained why:
“Frequent hard braking suggests that the driver is consistently driving in a manner that is inappropriate or at a speed that is excessive relative to prevailing driving conditions, thus increasing the likelihood of an accident,” he said.