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Drivers missing out on Car Insurance Savings

More than 70 million drivers in the U.S. potentially are leaving car insurance savings on the table by not taking advantage of usage-based insurance programs that reward drivers who drive safely and during safe times of the day.

More and more carriers are providing usage-based or mileage-based insurance options, including telematic systems or devices that monitor insureds’ driving and mileage habits.

Progressive Insurance, a pioneer in the field which sells its own usage-based product called Snapshot, said it has found that drivers who drive less, more safely and during safer times of day are most likely to earn a discount.

Progressive commissioned Harris Interactive for a telephone survey of 1,003 U.S. adults in August to determine how many drivers might be missing out on discounts available through usage-based rating. Among the findings from the survey:

• 50 percent of respondents say they drive less than 12,000 miles per year, even lower than the national average of 13,476...