Usage based insurance boosts popularity by assuaging privacy concerns

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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Usage based insurance is changing pricing models

Auto Insurance

Built-in tracking devices are transforming the way that rates are calculated for drivers. Traditionally, insurers have used a motorist’s age, gender, address, and other demographic information to calculate the premiums an individual would pay for coverage, but usage based insurance is now changing that pricing model to include driving skills and behaviors. These increasingly popular devices and programs are starting to transform the monthly bills. Now, instead of basing rates on risks that are calculated using historical data regarding the group into which an individual driver falls, his or her…

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Usage based insurance put to the test by Allstate employees

usage based insurance auto

Drive Wise program will be tested out by agency owners and other workers. The Allstate usage based insurance program called Drive Wise is now being put to the test by agency owners and other employees of the company who are interested in trying it out. This crowdsourcing method will install the device into vehicles across the country. It will be making sure that the telematics device will be used by agency owners and employees in many different states, to have them try it out and provide opportunities to better its…

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