MyRate® Available to Oklahoma Drivers
December 21, 2009 — MyRate®, Progressive's optional, one-of-a kind, behavior-based car insurance program that gives drivers the chance to save big bucks based on how they drive, is now available in Oklahoma. Drivers who sign up for MyRate receive a small wireless device that plugs into 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 receive a lower premium.
New Oklahoma customers get an immediate first-term discount of five percent when they sign up for MyRate. Then, when they renew their policy, they could save up to 25 percent or more based on their driving habits. To cover the cost of the device and data transmission, a $30 technology expense is added to their premium for each policy term that they're enrolled in the program. No technology expense is charged during the first term a driver is enrolled in the program.
MyRate is available to Oklahoma drivers who purchase policies from Progressive online or by phone.
Progressive has been an industry pioneer in understanding that how you drive should affect what you pay, starting with a usage-based program called Autograph in 1999 and later a program called Tripsense®.
The MyRate program will continue to be rolled out in more states pending state regulatory approval.
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