Usage-based insurance is gaining traction Usage-based insurance coverage had, once upon a time, been considered little more than a fantasy. Now, however, it is becoming much more of a reality as we see insurance giants roll out their new auto insurance plans based on this technology. As the term suggests, usage-based insurance is based on driving behavior. This means that policyholder’s rates are based on how many miles driven, what time of day and safe driving habits and more. Determining whether or not coverage is in use can be a…
Read MoreTelematics: The rise of usage-based insurance
