Car insurance rates are calculated using a multitude of factors: driving history, credit score, the type of car you drive, credit score, driving history, your age or marital status, and more. While there are many factors involved, some of which are not in your control.
Snapshot offers a new way for drivers to have some control of their car insurance rates.
Car insurance is like a box of chocolates, you just never know what you’re going to get, but with Snapshot from Progressive you just might get that turtle dove you wanted.
What is Driving Snapshot?
Heavily advertised by Progressive Insurance, Snapshot is a newer addition to the car insurance scene. This small device that plugs into the car’s diagnostic system in order to report the driver’s habits to the insurance agency. The premise behind the device is that safer drivers are able to save money by decreasing their level of riskiness associated with their insurance policies.
What Information does it collect?
While device specifics vary by state, it mainly collects information on car mileage, the hours of the day it’s being driven, and frequency of hard braking. These three areas are what goes into the calculation of the new rate. There are certain times of the day, normally between midnight and 4 a.m. that are deemed “higher risk hours” for driving.
Minimizing driving during the high risk hours can help lower your rate. Another way to make the system work in your favor is to avoid as many hard break as possible. The device keeps track of how quickly the car is slowed down; if slowed down at a rate faster than 7mph it takes note.
How will it affect your rate?
The driving Snapshot affects your car insurance rates by updating your driving history. The Snapshot device allows drivers to have what has been coined “usage-based” insurance. In the state of Oklahoma, Snapshot can give up to a 30% discount on car insurance. If you’re a safe driver and you know it, grab a Snapshot device.
This type of innovation is why we’re proud to partner with Progressive and other cutting edge insurance providers.