Would you let your insurance carrier track your every mile in exchange for an annual discount?
Companies like Progressive, Allstate and State Farm sure hope so!
It’s called “usage-based insurance” and the discount “can reach into the hundreds of dollars if you behave yourself on the road,” according to the New York Times.
The controversy, though, is that usage-based insurance collects more than just your driving habits, leaving some experts to believe the data obtained will eventually get compiled into a database of everyone’s driving histories.
Then, we’d all have driver scores like the numbers that FICO helps creditors calculate, which would follow us around whenever we shopped for a new auto insurance policy.
Would YOU take part in the usage-based insurance program to save some money?
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