TomTom has just announced that it has made a groundbreaking new partnership in the insurance market with the Motaquote insurance broker, by agreeing to provide the technology to support a new behavior-based insurance product that uses the driver’s habits to help gauge the premiums. The product being offered by Motaquote is called Fair Pay Insurance, and it will use TomTom technology to be able to reward drivers with lower risk habits by decreasing the premiums that they pay. According to the managing director of TomTom business solutions, Thomas Schmidt, “Our…
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Why men pay more for car insurance than women
Studies that women are paying less for car insurance than are men. It appears to the difference in premiums has more to do driving records than with gender, however. Although the average indicates that women pay less, it might not always be the case. According to InsWeb Corporation, the average car insurance rate is 9% lower for woman than it is for men. The important thing to remember with averages is that the percentage rates can be substantially higher or lower. Studies have also shown that when women are listed…
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