Usage based insurance boosts popularity by assuaging privacy concerns

usage based insurance auto car tracking gps

Both consumers and commercial fleets are increasingly embracing UBI programs and their tracking devices. Consumers and managers of commercial fleets, alike, are experiencing a shift in their opinions with regards to usage based insurance, as the benefits of being able to save money and encourage safer driving practices appear to be winning out over concerns with regards to privacy. These auto insurance programs have been slow to be accepted due to the telematics devices that track vehicles. Drivers are starting to discover that there are some considerable financial benefits that…

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Auto insurance telematics appealing to most European drivers

auto insurance europe

Provided that premiums would not increase, the majority of motorists would opt for usage based coverage. According to the results of a recent survey among six countries across Europe, the majority of drivers would choose an auto insurance program that uses telematics if they were guaranteed that they would not experience a premiums increase. Most of the survey respondents expressed a level of interest in usage based coverage programs. The majority of the participants in this recent Towers Watson survey said that they were interested in usage based auto insurance…

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Usage based insurance may exchange discounts for privacy risks

Usage based auto insurance

Although the programs are offering cheaper premiums to good drivers, it may come at a cost. Pay as you drive programs, also known as usage based insurance plans, are rapidly increasing in their popularity and use a wireless device installed in the car to allow the insurer to track the actual driving behaviors of the individual so that he or she can receive discounts based on safe habits. However, a recent study is indicating that in exchange for lower premiums, the driver’s privacy may be at risk. The usage based…

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Usage based insurance from Allstate Drivewise reaches a million miles driven

Usage based auto insurance

The auto policies that use telematics technology through this insurer are expanding at an increasing rate. Allstate is celebrating a considerable usage based insurance milestone – so to speak – as the insurer has now passed one billion customer miles driven in the Drivewise program over the course of data spanning 38 million driving hours. This represents the equivalent of driving around the globe 40,000 times. As this news was released, Drivewise was also launched by Allstate into two more states – Kentucky and Montana – bringing that insurer’s usage…

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Usage based insurance subscribers expected to double

usage based insurance auto

Over the next three years, there will be twice as many users of UBI auto policies in the United States and Europe. According to the latest data from Frost & Sullivan, a business consulting firm, sixty percent of large insurers in the United States are already offering usage based insurance telematics programs to provide discounts to their auto insurance customers who are safe drivers. The U.S. is seen as the fastest growing market for this type of coverage technology program. Among those auto insurance companies who are offering this type…

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Usage based insurance coming to Canadian province of Alberta

Usage based insurance

Drivers may soon be able to prove to their insurers that they are safer and be rewarded with discounts. Motorists in the Canadian province of Alberta could soon have the option to have telematics devices installed in their vehicles so that they can take advantage of discounts from usage based insurance programs when they prove that they have cautious driving habits. The province is currently studying the technology which would reward safer drivers. The usage based insurance devices would be installed on a voluntary basis to allow motorists to show…

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Usage based insurance program widened by Allstate

Usage based auto insurance

At the same time, the insurer has launched a smartphone app for use in the United States. Allstate has just announced that it is broadening the availability of its usage based insurance program in the United States, growing the size of the Drivewise use across the country. As of Monday, the device for monitoring a driver’s behaviors is available in 16 states. The auto insurer said that there are sixteen states in which drivers can take part in the usage based insurance program. This would allow motorists who drive safely…

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Usage based insurance is causing a growing privacy concern

usage based insurance data security

Though consumers are keen to save money on their policies, they wonder if they might be sharing too much. With the increasing popularity of usage based insurance programs, individuals and organizations are starting to look beyond the potential for saving money and are discovering that a large amount of information is being shared with the insurers. This is causing them to question exactly what and how much data is being collected. A vehicle is already naturally collecting a great deal of information about the way that a driver uses it.…

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Usage based insurance programs come to New York state

usage based insurance dashboard

Drivers will now be able to choose if they want their habits behind the wheel monitored by their insurers. Though New York does already have some usage based insurance options, the large players are now making their way through the state to provide good drivers with the chance to save on their premiums by revealing their driving habits to their insurers. The programs come with a small electronic device installed on the car to transmit driving data to the company. New York is not alone in its usage based insurance…

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Usage based insurance raises concerns over privacy

usage based insurance data security

The wireless monitoring devices that can lower premiums are making people wonder about data sharing. The wireless technology that is installed in a vehicle in order to take advantage of the possible savings from usage based insurance is starting to cause some concern among consumers who are becoming increasingly aware of the risks they are taking with regards to sharing their personal information. Some wonder precisely what is being collected and how it is being used and stored by insurers. The concept behind usage based insurance is that a wireless…

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