New Program Could Help Maryland Drivers Save On Auto Insurance

Progressive, one of the nation's leading auto insurance companies, is unveiling a new program that could save Maryland drivers up to 30 percent on their premiums.

The new Snapshot service, which is an update of the company's earlier MyRate program, plans to offer qualified drivers the ability to pay insurance costs based on how they drive.

Consumers who enroll in the Snapshot program will receive a device that plugs into the on-board diagnostic port of their car, records data, and then sends the information to the insurance company.

After a 30-day trial period, consumers who drive less often, in safer ways and who drive during low-traffic hours would be eligible for the discount.

"Snapshot is easier to understand and more attractive to drivers," said Richard Hutchinson, Progressive’s general manager of usage-based insurance. "We know from our research that this version will be more appealing because drivers can save money after just 30 days instead of six months."

Customers can then log into an online account during the trial period, according to Progressive. Using this program, consumers can then make changes in their habits that yield them greater savings on monthly auto insurance costs.

By: P. Miller

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Ryan Fields is a personal finance journalist for e-wisdom.com who covers a range of finance topics, including current trends with bank accounts , credit cards , insurance rates, and mortgage loans.