Progressive's snapshot: a good idea or a bad one waiting to happen? (Read 3093 times)

Started by Lobo, March 18, 2011, 12:27:31 am
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Progressive's snapshot: a good idea or a bad one waiting to happen?
#1  March 18, 2011, 12:27:31 am
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I am not certian if most of you have seen it yet but progressive is now making a discount on drivers who drive safely. It's supposed to save you money based on good habits, but what about those who have bad ones? I know bad drivers dont deserve discounts but how do you guys feel about an insurance company monitoring you? It sounds paranoid but if you think about it: it starts like this, then they make it mandatory, and then they profit out of the times you mess up. Insurance companies these days care more about money than about doing their jobs right. There is even an equation to determine if an insurance company should cover the cost of something that could save your life based solely on statistics. I think this is utter bullshit and its a crest of a wave that will become a tsunami. But what do you guys think? Good idea? Bad idea?
Chill pill
#2  March 18, 2011, 01:16:21 am
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You've got to understand companies are not people, "greedy bastards". Opening a venture in which you have employees and declare taxes means you're doing it for profit, plain and simple.

Making informed decisions are the pillars to economics, may it be trends, statistics, cold numbers ... it's not mandatory that they know your info, you have to willingly provide it to them so they can assess the service level and cost they will give you, and even then, after a quote is issued, you're not forced to use their product.

If that niche specific product isn't agreeable for you, maybe you should just use another one :P