Tag: low mileage insurance

Auto insurance can be cheaper for vehicles with low mileage

usage based insurance auto

Discounts are available for cars that aren’t driven very far every year. When buying auto insurance or renewing a policy for a vehicle that has low mileage, it is important to discuss this trait with the agent or company representative as discounts may be available. Many policyholders miss this opportunity for significant savings every month. It is important to note that not all auto insurance companies offer this opportunity. That said, many do have discounts for low mileage cars, so owners of these vehicles are being advised to speak with…

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Patent for usage-based insurance goes to Progressive for the fourth time

Nordstrom

Progressive Insurance has announced that it has received a patent for usage based system technologies for the fourth time for its Pay As You Drive program, which is available to drivers in the United States. The program involves using a driver’s safety score to change his or her premiums based on monitored driving data and is now patented under U.S. Patent No. 8,090,598. The usage based insurance (UBI) program at Progressive is called Snapshot, and it is now available to drivers in the District of Columbia and 39 other states.…

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The top answers that will enlighten the insurance industry in 2012

As 2011 comes to a close, insurance companies are already beginning to ask questions about technology and regulation trends, as well as other important considerations. Though they won’t have their answers before this year is finished, there are already some predictions being made about what will be learned in the upcoming year. After all, a large number of changes are occurring in the industry, such as the wave of new mobile commerce technology that is now becoming much more mainstream, where it had only been considered “emerging” until now. Among…

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Hartford to test a new form of car policy in 2012

Julie Campbell

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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Millions of drivers may be eligible for car insurance discounts, according to Progressive Insurance

Nordstrom

Progressive Insurance has issued a new report detailing how as many as 70 million drivers in the U.S. could be missing out on major savings. The insurer launched a new product earlier this year that collects data from drivers who opt to have a simple device installed in their vehicles. The device tracks driving habits and send the information to Progressive agents who determine whether these habits are safe. Those with safe driving habits are eligible for major discounts on their car insurance policies. Progressive’s report draws upon data collected…

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Auto insurance based on mileage, IntelliDrive, can offer greater savings to drivers

Recent data has been suggesting that a growing number of consumers are attempting to save money by reducing the amount of driving that they’re doing. Though the main reason for this is to decrease the amount of gas that is used, and lower the amount of maintenance needed on the vehicle, Travelers is now offering another incentive to customers to keep their mileage down. The new IntelliDrive insurance product rewards low-mileage drivers with discounts of up to 5 percent at the time of enrollment, and an additional discount of up…

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Progressive and Allstate come to settlement about patent use

Nordstrom

Allstate Corp and Progressive Corp, the auto insurers, have reached a settlement for a patent dispute that had been occurring between the two insurance giants, which was over technology that allowed the companies to alter a driver’s premiums based where, how, and how frequently he or she drives. The dispute began when Progressive filed a lawsuit against Allstate, claiming that the latter had infringed on patents and trademarks owned by the former, which are a part of “usage-based” insurance. Progressive released a statement that explained that some of its patent…

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