If you're willing to let your insurance company spy on you a bit, you may be able to save money on your car insurance. Is it worth the savings?
State Farm is offering a new plan that officers discounts if drivers let them mount an in-car device. Drivers would have their speed, acceleration and braking recorded.
The insurance company says drivers would start at a 10 percent discount and could go up to 50 percent based on how they drive.
The plan will be available in Illinois starting in September and will expand next year. It costs $10 to join, six months are free and then $5 to $14.99 per month.
The system will also offer drivers features similar to GM's OnStar. The Drive Safe & Save with In-Drive program will offer additional features like emergency response, roadside help, stolen vehicle location, vehicle maintenance alerts and reminders as well as location and speed alerts for families like those trying to track teens and new drivers.
Read more about the program.
Progressive launched a similar program last spring, offering discounts to drivers based on real-time information about how and when they drive.
Here's what some people are saying about this story online:
"The start of a very, very bad trend, my Big Brother," one reader wrote.
"I think all teen agers should have this manditory untill there 25...Teen age girls are the worst drivers in the world," another said.
"No thanks. I wouldn't have this even if my current insurance rates were cut in half. I value a degree of privacy in my life. In my car is my area, not the insurance companies," said another reader.
Yet another supports it, saying, "I like the idea, track peoples driving habits and that way the tailgaters and speed demons will pay the higher premiums and the rest of us will get the lower premiums that we deserve."
Would you be willing to let your insurance company monitor your driving in exchange for a discount on insurance? Why or why not? Do you think it could have unintended consequences? Will it help lower premiums for drivers who follow the rules of the road? Leave your thoughts below.
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