MyDrive Solutions, a company known for its specialty in insurance telematics, has announced its latest technology release to allow insurers to better gauge an individual driver’s risk and therefore set the premiums for coverage accordingly. The company’s launch involves an insurance smart box, which has now been brought to market, called MyDrive Dynamic, which will give auto insurers the ability to collect and use a driver’s behavioral data using the very latest in data capture technology. This can then be used to better understand a driver’s unique risk so that…
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Helpful tips to keep your California auto insurance premiums low
The two most common mars on a motorist’s driving record and that can cause California auto insurance to become more expensive than it needs to be are tickets and at-fault accidents. Though most drivers are worried about increases in premiums over time, there are many things that they can do to help to keep those costs as low as possible. This involves maintaining a driving record that is as spotless as possible, which is beneficial not only for keeping lowered insurance payments, but also to keep you, your passengers, and…
Read MoreArizona fails to pass insurance bill to have uninsured vehicles towed
A bill in Arizona that would allow police to have uninsured vehicles towed and impounded was narrowly defeated, but it did manage to draw attention to the issue in that state and underscore the strict penalties that already exist for drivers who are on the road without coverage. Insurance Research Council data from 2009 estimates that the segment of drivers in Arizona without insurance is about 12 percent, which is just under the country’s average of 13.8 percent. If the proposed bill had passed, it would have given police officers…
Read MoreSome drivers may save on auto coverage with “pay-by-the-mile” insurance
A new form of auto coverage, called “pay-by-the-mile” insurance has now been designed to help people to save money on their premiums and to encourage them to drive less and use public transportation more regularly. The way that the coverage works is that drivers who put fewer miles on their vehicles will pay a lower rate for their insurance every month. It places a direct link between their vehicle’s mileage and their insurance plan. The plan is based on an average annual driving distance of 19,000 miles. Though it does…
Read MoreGEICO announces cheaper commercial auto insurance rates for businesses in Texas
Business owners in Texas may now have a commercial auto insurance policy available to them at a lower rate, as GEICO announced that they have made this new coverage available in the state. According to the director of commercial lines at GEICO, Kushwant Singh, his company is happy to be able to provide this new coverage to Texas businesses. He added that his company is recognized for providing cheap auto insurance coverage, but that “more and more business owners in Texas are discovering how much they can save with us…
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