Telematic policy based on the use of the car: a new type of insurance
Telematic policy based on the use of the car: a new type of insurance. New technologies have arrived to convert all our actions into charts and analyses. Some graphics that can warn, for example, how much we are sleeping, how sedentary we are, draw our heart rate, warn on the screen of our phones the number of steps we have taken during the day or inform us: “you were in this restaurant two years ago years, three months and seven days.
Auto insurance companies, which base their business on risk analysis, have taken note and have created different telematic insurance contracts that visualize customer behavior. They argue that the purpose is to encourage those motorists classified as “good drivers” to continue on that path, while those who are “not so good” have an incentive to improve their driving.
With these telematic driving tracking insurance programs, a motorist could save 15% per year. Since insurers reward with discounts those drivers who, for example, do not use their car much during a year, or those who do not exceed a certain number of miles per year – 11,500 miles.
Is telematics insurance for you?
To find out if this type of contract is right for you, the first thing you need to determine is whether it’s a problem for you to have your insurance company constantly track your driving. If the answer is that you do not care, you might be interested in this new type of contract.
Once you sign the new policy, most insurers will provide you with a device that you must plug into the car’s diagnostic port – called OBD2. It may not be necessary if your car comes with factory-installed technology that allows you to monitor data about your driving.
With the data collected by this device, the company will analyze the risk of insuring you. To do this, it will look at whether you are a speeding driver, if you brake frequently, count the number of miles you drive per year if you drive daily, and if you drive regularly at night.
Usually, the companies, when signing the contract, will offer you a 5% discount. After analyzing your driving for three or four months, they could offer you other personalized discounts that would start with your next contract. The best drivers could benefit up to 50%. But, usually, discounts for good drivers reach 15%. Telematic policy based on the use of the car: a new type of insurance.
If you are interested in allying yourself with new technologies to save money on your insurance premium payments, call your Univista Insurance agent and he will help you get the best contract in Florida.