Tag: pay as you drive insurance

Usage based insurance could be the key to savings for women

auto Insurance trends

New EU rules could cause female drivers to pay higher premiums, but UBI offers savings. Millions of women drivers across the European Union are watching their premiums disappear and are turning to usage based insurance to help to regain their price advantage based on good driving behaviors. The little transmitter gadget can help female motorists keep their premiums to a minimum. Over the last year, women have seen their rates increase because the European Union is no longer allowing gender to be a factor in the calculations of auto coverage…

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Does usage based insurance for your car risk your privacy?

S.Vagus
Usage based insurance

How much of your data is shared by your vehicle telematics? Usage based insurance programs are being offered by a growing number of auto insurers, with the highly attractive benefit of potential savings on monthly premiums. Consumers now wonder about the cost of these money saving devices. The type of data that is transmitted through the telematics devices used for the usage based insurance programs depends on the insurer and the gadget itself. While some simply report very basic information such as the number of miles driven, others can report…

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What you should know about usage based insurance

Usage based insurance

How telematics may change driver behaviors. Usage based insurance is on the rise, and it is showing no signs of slowing down as it combines telematics with GPS technology and onboard diagnostics to help insurers to better understand the behaviors of their policyholders while behind the wheel. Though the impact on price is starting to be understood, what has yet to be seen is the impact on drivers. The technology is able to tell an insurance company where a car is located, how fast it is going, how many left…

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Auto insurers introduce pay as you drive insurance

Usage based auto insurance

Usage based coverage is increasing in popularity among carriers and drivers. Large insurers such as Allstate and Progressive are taking the auto industry in a new direction with pay as you drive insurance policies that track a motorist’s average speed, mileage, and other driving details that can help those customers to experience significant discounts in their premiums if they prove to be good drivers. Though usage based policies had a slow introduction, these efforts are now being accelerated. Carriers are finding that the popularity and possibilities of this type of…

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Worldwide usage based insurance market to break the €50 billion mark in 8 years

Usage based insurance

Global use of telematic technology and methods will skyrocket by 2020. According to a report by PTOLEMUS Consulting Group, an international strategy consulting firm, usage based insurance is going to change the way that auto insurers and their policyholders do business together. The report is being applauded as the most comprehensive ever created on insurance telematics. The strategic report was 400 pages long and is expected to become the document used by the industry as a standard reference, as it provides vital data regarding the global landscape for auto coverage,…

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