KPRC 2 Investigates: Can allowing companies to track your driving help lower your car insurance rates?

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Car insurance rates are up and you probably know shopping around can save you money. But in addition to calling around you can also download an app to help you save.

“I was like, ‘Hey, I have nothing to lose what the heck?’ And I did it!” said Charles Holmes.

Our KPRC 2 news crews put in a lot of miles every day driving from one story to the next. So when KPRC 2 photographer Charles Holmes told us about how he cut his insurance premiums, we had to check it out.used its app on Holmes’ phone to track his driving for one month to find out if he qualifies for lower car insurance rates. Credit Karma is best known for giving free credit scores but the company also has something called Karma Drive.

Rory Joyce, GM of Insurance with Credit Karma, says more companies are moving toward this “usage-based pricing.”First, the company“We’ll give you feedback on things like, are you doing too much hard braking? Are you accelerating too fast,” explains Joyce. “At the end of it, we’ll see if you can qualify for discounts with top insurers.”

Karma Drive then takes your driving results and shops for the best rate with Progressive. They currently do not check other carriers’ plans but are working to expand in the coming months. They say 80% of drivers who try it qualify for cheaper rates.Driver tracking resultsHolmes was paying State Farm $1,582.95 for six months of full coverage insurance for two vehicles with a $1,000 deductible.Under the Progressive policy Karma Drive found he got a six-month policy for $1,000.

 

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It seemed, in the long run, that his first policy was better and cheaper than his new one.

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