7 in 10 Drivers Think They're Better Than Others, But Most Aren't Using Pay-As-You Drive Car Insurance

SAN FRANCISCO, Nov. 6, 2013 /PRNewswire/ -- Nearly seven in 10 American motorists (69%) say they are better drivers than others, but most aren't benefiting from pay-as-you-drive car insurance, according to a new insuranceQuotes.com report.

insuranceQuotes.com has found that about two-thirds of drivers who sign up for pay-as-you-drive car insurance are saving money, but only about one percent of all drivers have signed up, and most Americans (58%) don't even know what pay-as-you-drive car insurance is. These types of policies (i.e., "Snapshot®" from Progressive, "Drivewise®" from Allstate and "Drive Safe & Save™" from State Farm) gather information about consumers' driving habits to help determine how much drivers pay for car insurance.

"Most Americans consider themselves better drivers than others, but few are willing to test their abilities with a pay-as-you-drive insurance program," said Laura Adams, senior insurance analyst, insuranceQuotes.com. "There seems to be a general lack of awareness and confusion about these programs. That's too bad, because drivers are missing opportunities to save. Signing up can only help you – it can't raise your premium."

Nearly four in 10 drivers (37%) say they would never consider getting pay-as-you-drive insurance. And an additional 35% would only sign up for pay-as-you-drive insurance if they were offered a premium discount of 25% or greater.

Regarding which factors these programs track, Americans are most confused about drinking and driving (only 35% know this is not tracked), hard braking (37% know this is tracked), and the time of day you drive (42% know this is tracked).

Additional Details:

• Thirty-eight percent of male motorists say they are much better drivers than everyone else, versus only 27% of female drivers.
• Only one percent of drivers say they're below average.
• 18-29 year-olds tend to be the most knowledgeable about pay-as-you-drive car insurance, however, 68% answered the drinking and driving question incorrectly.

The survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here:
http://www.insurancequotes.com/auto/pay-as-you-drive-insurance

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PSRAI obtained telephone interviews with a nationally representative sample of 1,000 adults living in the continental United States. Interviews were conducted by landline (500) and cell phone (500, including 227 without a landline phone) in English by Princeton Data Source from October 24-27, 2013. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is plus or minus 3.7 percentage points.

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For More Information:

Caroline Farhat
Publicist
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917-368-8638

SOURCE insuranceQuotes.com