I recently signed up with Progressive, and during the process of completing the online application, I came upon the checkbox to add the Snapshot device to your policy, at no charge!
At first, I checked the "yes" box, as I suppose the marketing had reeled me in...
There were several more pages to complete of the application before arriving at the end, where a summary page broke down the details of my soon-to-be new policy. As my eyes scrolled across and down the screen in review, I stopped at the Snapshot portion, and then pondered to myself what my actual reality of this would likely become:
"I'm horrible with time management. The only thing I'm consistent at is being late...for EVERYTHING!! I guarantee that within the first week of having this thing plugged in, I'm going to be in another situation where I'm late for an appointment, which will cause me to do what I all too often do... zig-zagging my way through traffic, 85+ mph, in the car pool lanes during car pool only hours, stuffing the brakes when at the last second I realize the intersection I'm about to blow through is double jeopardy - it is equipped with both a red light AND a speed camera! And this is just one trip to my clients office. And since I had the bright idea to add the Snapshot to my policy, I'm pretty much guaranteed to see my rates rise substantially in 6 months when I'm up for renewal! Can I unplug this thing and tell them I lost it?"
Needless to say, I went back and checked the "No" box instead.
They offer this to customers under the premise that its a way to lower your premium as a reward for safe driving habits. Sure. If you buy into that one, how about a terrific deal on some sand from Dubai? I'd be quite interested to see their internal statistics on how many premiums are increased as a result of data collected from these devices. From a revenue generation standpoint, which is the sole purpose behind each and every decision any Insurance Co. makes, the Snapshot is to Progressive what a high-speed, magnetic ink capable digital press is to a $20.00 bill... A means to make more!
Remember guys, we're talking about an Insurance Company here, who believe me has rooms full of both high tech equipment and highly skilled people with one mission in mind: To extrapolate as much cash from each and every "customer" as is possible, regardless of ethics. And all Insurance Companies do one thing, without fail, all across the board: They share every shred of information about YOU with their peers. There isn't another industry anywhere which freely and openly shares customer data with their competitors like the Insurance industry does.