How A Black Box Could Lower Auto Insurance Rates

Usage Based Insurance

Are you a young or relatively inexperienced driver who is tired of paying astronomical auto insurance rates? A solution to these staggering fees may be coming to a broker near you. And it comes in the form of a little black box. Yes, the technology that solves airline crash mysteries is becoming available to passenger cars. Perhaps, even the one in your driveway. Usage-based Insurance Just north of the border, Desjardins Insurance has began offering its clients in Ontario and Quebec “usage-based” insurance. This option is meant to allow high-risk drivers…

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Using a Vehicle Tracking Device to Lower Your Insurance Premiums

vehicle tracking

Insurance premiums are rising year on year… this is down to more cars being on the road and more careless driving as people take more risks to get to work on time. This year it is predicted there could be a further rise of between 3-10% on insurance premiums due to reinsurers (the insurers for the insurance companies) increasing their own premiums because of a concern over how easy insurers are paying out. The issue is that it is generally a small proportion of drivers who actually have accidents regularly…

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Telematics Update: Free Webinar – Pinpoint the ROI of UBI in Order to Accelerate Mass Market Adoption

Telematics Insurance News

  Telematics Update has announced that free registration is now open for the exclusive webinar: ‘Pinpoint the ROI of UBI in Order to Accelerate Mass Market Adoption’. Telematics Update have brought together UBI experts from Progressive, Plymouth Rock and Towers Watson for a webinar to explore the financial and service benefits for insurers and consumers that UBI can yield. The free interactive event will be held on Thursday, May 9, 2013 at 11am (EST) and is open to the entire insurance community! Register here: http://www.telematicsupdate.com/insurance-telematics/webinar.php Top auto insurers Progressive, Allstate and…

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Usage based insurance launched by Allstate in NY

New York auto insurance

Safe drivers in New York will be able to take advantage of potential savings on their premiums. Progressive may have taken the first steps into New York with usage based insurance, but Allstate isn’t far behind, and is now offering drivers in the state the opportunity to save money on their monthly premiums based on their safe driving habits. Motorists that demonstrate a lower risk of making a claim may save money every month. The Allstate usage based insurance program is known as “Drive Wise”. Though it is only just…

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Usage based insurance is now being seen without rose colored glasses

Usage Based Insurance

Now that it has had its first wave as a novelty, drivers are starting to look at its other side. Drivers across the country are already taking part in the usage based insurance programs being offered by a number of the larger insurers, with the promise of an opportunity for significant savings. However, on closer inspection, some are starting to wonder whether the tradeoff is worth it. Insurers have crated usage based insurance programs that allow motorists to have their driving behaviors tracked by the companies in order to gain…

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