Monitoring app could save drivers on car insurance
PROVIDENCE, R.I. (AP) — A new auto insurance company in Rhode Island is rewarding drivers with cheaper rates based off how they drive.
The catch is that policyholders have to allow HiRoad Assurance Company to track them in a cellphone app.
The Providence Journal reports executives of the company award drivers based on how safely they drive —using four criteria including breaking and speed.
After each trip, a score and projected discounts pop up on the app, showing the impact of the driver’s safety during that specific drive on their insurance rate.
The driver’s initial rate before discounts is calculated by HiRoad.
The company says it wants to make roads safer for everyone.
Information from: The Providence Journal, http://www.providencejournal.com