Hartford Financial Services Group has announced its intentions to begin a pilot program in 2012 for an auto insurance policy based on telematics. Hartford’s president of consumer markets, Andy Napoli made the announcement during the company’s investors meeting. The new policy will be using telematics. According to Napoli, using the “devices in insured vehicles to transmit information about driving behavior, such as miles driven, speed, acceleration, deceleration, and using that information to price the risk.” This pilot program will be known as TrueLane and will begin in the first half…
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Do associations truly offer the best insurance rate discounts?
An investigation by Consumer Reports has shown that while some policies that are quoted through associations – AARP, for example – are often cheaper than rates quoted without a membership, many quotes received through associations are more expensive. Although many people automatically assume that they will be receiving a better price by receiving a quote through their membership with an organization, alumni association, or other group, this is not always the case. There may be perks to the membership, but this does not always include cheaper insurance. Consumer Reports gave…
Read MoreState Farm uses telematics to help drivers obtain better car insurance rates
State Farm has announced that it has partnered with Hughes Telematics Inc. in order to give its car insurance customers the opportunity to use an in-vehicle device so that they may lower their auto insurance rates. State Farm is calling the program In-Drive, and uses technology developed by the Atlanta-based telematics company to give its Illinois policy holders a chance to take part in the program starting in September. Other states may also be offered this program in 2012. The features of the technology are comparable to some of those…
Read MoreSame-sex partners in Illinois to qualify for auto insurance discounts with Esurance
Esurance has announced that it will be providing discounts for auto insurance to same-sex partner customers in Illinois. Following the June 1, 2011 start of the Religious Freedom Protection and Civil Union Act within the state, which provided same-sex couples with the right to civil union and rights equal to other married couples, Esurance declared that it would also respect this union and qualify same-sex partners for auto insurance discounts in the same way they would qualify opposite-sex spouses. The savings that can be as high as 10 percent, or…
Read MoreAmerican Agents Alliance initiative seeks discount for consumers maintaining car insurance
A California agents group, the American Agents Alliance, is moving forward with an initiative that would offer a discount to consumers who have persistently maintained their vehicle insurance, no matter their insurer or insurance company. The current law states that this persistency discount is allowed only when the coverage has been continually kept with the same company. However, the initiative sought by the Agents Alliance is comparable to Proposition 17 in 2010 – which lost by only 2 percent – and would have permitted consumers to carry their persistency discount…
Read MoreCalifornia Car Insurance: Sequoia offering new “Pay As You Go” insurance plan
Following the latest insurance trend sweeping the nation, Sequoia Insurance Co., one of the largest insurers in California, will begin offering a pay-as-you-drive auto insurance policy. Sequoia joins State Farm and Progressive in offering this particular policy, increasing the options available to California drivers. Progressive was the first to incorporate this concept into their coverage options after finding that fewer people were taking to the road in light of rising gas prices and other costs. Drivers interested in the coverage must first have a small device installed in their vehicles.…
Read MoreProgressive announces new options in car insurance
Progressive, the second largest auto insurer in Florida, has announced their new program that will provide discounts to drivers that spend less time on the road. To be eligible for the coverage, drivers must allow the insurer to track how much they drive. This usage based insurance is designed to encourage people to drive less, lowing greenhouse emissions, and also to provide more accurate pricing on auto policies. The plan will specifically benefit travelers who leave their cars parked at airports for several days, families with additional, less used vehicles,…
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