New technology offers ways to save on auto insurance

A major insurance company is reportedly introducing a new technology that could set a trend for auto insurance customers in the coming years.

A major insurance company is reportedly introducing a new technology that could set a trend for auto insurance customers in the coming years.

A report in the Fort Worth Star-Telegram describes the new plan, which will give drivers discounts if they install a device on their car that measures factors like miles driven and how often the car accelerates considerably or undergoes a hard braking.

The information is reportedly transmitted to the insurance company with a wireless phone line, and that the safest drivers can expect discounts on their policies of as much as 30 percent.

The newspaper added that customers will also be able to view information about their driving data on a secure website, to help them further reduce premiums.

This program is comparable to a proposal in California that will give drivers the option of policies that charge them based on the number of miles they drive. It remains to be seen how mileage would be verified under the program, although some proposals have included GPS technology.

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Posted: July 24, 2009

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