So I have had Myrate for 30 days now. It takes 30 days for the Progressive Insurance computers to work up an estimate on how much the driver will save. Total projected savings for me?? 17%.
Now that 17% equates to $47. Pretty good right? Well there's a catch. Texas law allows Progressive to charge $30 per term (so $60 a year per car.....they only sell 6 month terms). So that reduces my savings to $17 per 6 months or roughly 7%. Worth it? Still debating. For those thinking about it (I get a lot of Google hits for the Myrate Program), here's a chart showing my average daily use, which I think is REALLY low.
My daily averages are way below the "average" MyRate user. I drive an average of 3 trips a day, during low risk times for just 46 minutes totaling 23 miles. I never have sudden starts or stops and my speedometer never passes 75 MPH. I think I should get near the max discount of 25%. Nope.
There are many states that don't allow Progressive to charge the $30 fee. If we lived in one of those states it would be no brainer as to keeping the MyRate program in place. I dunno. I miss being able to floor the gas pedal every now and then. Eh.