During a telephone news briefing on Thursday, Hunter said driving-related factors, such as mileage, are less important than they used to be as insurance companies rely more on big data such as credit scores, education and occupation to set prices.
The less you drive, the less likely you are to get into car accidents-at least that's how insurance companies look.OnStar customers enrolled in State Farm's new Drive Safe and Save can automatically send odometer readings to the insurance company.The average auto insurance policy in California is 750 annually, and State Farm predicts that the typical policyholder will save 6 percent.They requested the minimum, state-required liability coverage in 10 major urban areas for a hypothetical moderate-income woman with a perfect driving record.Progressive's usage-based Snapshot program offers some customers a mileage discount if they allow on-board tracking of miles and other driving factors.They only way to know is to shop around.Continue, on January 29, 2015, State Farms websites were updated with improved security features.Farmers and Progressive didn't even ask for mileage."Annual mileage is one of the few free prize winning quiz online factors available in auto insurance pricing that is not ace chimney sweep barton upon humber only strongly related to accident claims but deemed fair by most Americans Hunter said.Insurers have routinely tried to calm motorists, saying that's unlikely to happen.She was a single, 30-year old bank teller with a high school degree who rents a house and drives a 2005 Honda Civic.The other companies did not respond.The bottom line: You might get a discount from one company, but a better price from anotherand that's what really counts.CFA did its price shopping on the State Farm, Allstate, Progressive, geico and Farmers websites.Other carriers have conceded that they may follow suit.State Farm's Drive Safe Save program and National General Insurance's Low Mileage Discount base rates primarily on mileage, but you have to have OnStar or Sync to qualify because these telematics-based subscription services, not a plug-in, gather the numbers.On January 29, 2015, State Farms websites will be updated with improved security features.On the upside, the policy will adjust every six months, so you'll have an opportunity to lower your rate by driving less.Who can see your driving data?
The company says premium drops are a major incentive; participants get a five percent discount off the top, with savings approaching 30 percent a year, depending on the driver's numbers.
Mileage discounts don't always result in the best price.