Tag: usage based auto insurance

Usage based insurance program lets young drivers prove themselves

Julie Campbell
Young Driver auto usage based Insurance

This telematics based system will give new Ontario, Canada motorists the chance to prove their safety habits. A company called Ingenie Canada Inc. has now announced that it will be offering a usage based insurance program in Ontario, Canada, that will use telematics technology in order to allow drivers who are aged 24 years and younger to show that their habits are safer than the demographic as a whole. The company is allowing younger drivers to show their true risk level instead of being lumped in with the group. The…

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Usage based insurance tracking soon available through OnStar

Julie Campbell
usage based auto insurance

As of the summer of 2015, a motorist’s driving behaviors can be assessed through its onboard system. Beginning this summer, the OnStar service found in many vehicles will also be capable of tracking a driver’s behaviors as a part of an opt-in usage based insurance program that will make it possible for safer motorists to save on their coverage. This program will provide an evaluation of a driver’s habits over a period of ninety days. Once that time has been completed, drivers will be given the opportunity to take advantage…

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Mobile apps could disrupt the auto insurance market

Logan B.
auto insurance uber

Google and Apple may become market disrupters by supporting mobile applications Both Google and Apple may soon become disrupters in the auto insurance market. A growing number of insurers are beginning to use telematics to offer new, usage-based policies that are popular among consumers. These companies are using relatively expensive devices to monitor the driving habits of policyholders and this information is being used to determine the cost of an actual insurance policy. Mobile application may soon become a powerful tool in helping insurers cut the upfront costs associated with…

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Usage-based auto insurance is becoming more acceptable

S.Vagus
auto insurance usage based

New study shows that consumers are becoming more comfortable with usage-based insurance coverage LexisNexis has released a new study concerning telematics and usage-based auto insurance coverage. The study notes that consumers in the U.S. are becoming considerably more comfortable with the idea of usage-based insurance, largely because of the savings they can take advantage of. Rate discounts are a main driver behind the adoption of telematics among drivers and businesses that manage vehicle fleets. Drivers do have some privacy concerns, however, in regards to the information that telematics systems collect.…

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Usage based insurance boosts popularity by assuaging privacy concerns

Julie Campbell
usage based insurance auto car tracking gps

Both consumers and commercial fleets are increasingly embracing UBI programs and their tracking devices. Consumers and managers of commercial fleets, alike, are experiencing a shift in their opinions with regards to usage based insurance, as the benefits of being able to save money and encourage safer driving practices appear to be winning out over concerns with regards to privacy. These auto insurance programs have been slow to be accepted due to the telematics devices that track vehicles. Drivers are starting to discover that there are some considerable financial benefits that…

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