Telematics: The rise of usage-based insurance

Usage based insurance

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…

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Top Safe Driving Apps List Released By Insurance Panda

Insurance Panda, an auto insurance quote comparison website located in Manhattan, NYC, has released a list of the top “safe driving” mobile applications. These apps, which are readily available for devices like the iPhone, Android, Blackberry, and iPod, help people stay safe on the road. Application functionality ranges from helping the elderly stay focused while driving to helping young drivers learn how to drive. The InsurancePanda.com list includes apps for drivers of all shapes and sizes. The article posted on InsurancePanda.com states that mobile phones, smartphones, and mobile devices are…

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Does Progressive’s Snapshot program offer a true auto insurance discount?

Progressive has taken a new approach to car insurance, called the Snapshot program, that allows its policy holders to share their driving habit information for the opportunity to try to save money. According to the general manager of usage-based insurance at Progressive, Richard Hutchinson, the program is completely voluntary, so drivers who are not interested in taking part are not required to do so. Participating drivers have their cars fitted with a Snapshot transmitter device, which is compatible with most vehicles made in 1996 and afterward. The device monitors the…

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