Tag: usage based car insurance

2012 will be the year of usage based insurance

Marc
usage based insurance auto

This year, auto coverage using telematics devices will finally get its real start before taking off. Usage based insurance is a type of auto coverage where the actual driving data of the motorist is collected through telematics devices in order to provide insurers with the ability to calculate premiums based on the individual’s actual behaviors and uses of the vehicle. Some companies have already introduced programs and it is expected that they will explode very soon. There are a number of reasons that the technology, which has had an off…

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DriveFactor announces usage-based car insurance program expansion for cheaper premiums

Discount-Car-Insurance

DriveFactor, formerly called Crimson Informatics, has just announced that it is now offering programs for usage-based car insurance that will allow drivers to use mobile technology and telematics in order to prove their safe driving habits so that they can lower their premiums based on actual performance. A growing number of auto insurers have been adding telematics and usage-based insurance (UBI) to their programs. According to DriveFactor, this type of system could save a policyholder up to half off their premiums. The DriveFactor programs have been created to allow insurance…

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

Marc

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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