Posted on 07/09/2014 12:11:09 PM PDT by PoloSec
The proposition is simple: Install a device in your car and allow your insurance company to monitor your drivinghow fast you drive, how hard you brake, how sharply you corner, and so on. In exchange, it will give you a discount on your premiums.
That might sound alarming, but it shouldnt be surprising. Considering internet users already happily trade data on every online move they make in exchange for free services, the only surprise is tracking-based insurance isnt already more widespread. Progressive Insurance, the biggest such insurer in the United States, says it found that
After analysis of billions of miles in driving data, Progressive has found that key driving behaviorslike actual miles driven, braking, and time of day of drivingcarry more than twice the predictive power of traditional insurance rating variables, like a drivers age, gender and the year, make and model of the insured vehicle.
The average discount on premiums for a Progressive customer who agrees to be tracked is between 10% and 15%.
In future, if you dont agree to be tracked, you may not only pay higher premiums; perhaps you wont even be eligible for insurance from most companies. It could be like having a shady credit history, or failing to provide the basic know-your-customer information required to open a bank account. In the end, serving the naysayers may become a specialty market niche for some carriers, suggests a recent report (pdf) on usage-base insurance programs from Deloitte.
Thanks for the bother to have to sue you if you ram my car.
My dad believed that insurance was like betting against yourself and he refused to buy any, even though the law required it. And he got away with it too although in his last years he’d only get the Chrysler up to 20 or so.
Explain the discrimmination angle ...
In some large cities, they are starting to get sneaky and turn regular roadways into toll roads, mounting cameras on them to catch your tag #, then send you a bill. The gov is starting to really get carried away. Even the Mob is kicking themselves for not putting more politiians in office now.
Then your dad’s understanding of insurance, and economics, was not very complete shall we say. But glad he got away with it. He was one bad bit of luck and nasty attorney from ruining your future.
Next thing you know, Progressive will offer to “keep your rates lower” by controlling your speed...any time you go over the predetermined speed limit, they’ll just send a signal to a governor on your engine.
haha .yes, steeper .and more teflon too!
that would certainly be “progressive” - now wouldn’t it.
It can be endlessly debated but insurance was a compromise to minimize the risks of using the public streets.
Forget monitoring how people brake. I’d just want to know if someone out on the street is covered or not.
Are any other insurance companies doing this? Progressive has had the program in place for years and I haven’t heard a peep from any of the others. I don’t think it’s a popular program, and don’t see anybody bandwagoning it.
In the (leftist) future, what is not prohibited is mandatory.
All things within the State. Nothing outside the State. Nothing against the State.
That’s 0bama’s dream ... taken from his father the devil.
What cannot be endlessly debated, at least not by intelligent people, is the need to carry at least liability insurance. Losing a 20, 30 , even a 50K car may not destroy you, but a 2 million dollar liablity suit will.
Its’ not insurance so much as it is risk management and financial planning.
It was actually quite helpful. It turns out the drink specials and the breast sizes of the strippers were better at a titty bar only a few blocks from my regular haunt.
The insurance company provided this info through my ON-STAR system without me even asking them.
Of course they also notified me that if I ever decided to run for political office it would work out better for everyone involved if I supported all legislation favorable to the insurance industry.
Can penile pedometers be far behind?
If you drive without auto insurance in this state and get pulled over or are in an accident, you will automatically have your license suspended for three months.
I doubt if they will make much from me. I have a 2007 Honda Accord and it just turned 20,000 miles. Since I have been so sick, I do not go as much as I did. Flo is already pushing this thing. I would not buy anything from her. For some reason, I just want to change the channel when her ad comes on.
So I guess you are fine with the talking pig. :)
Fortunately/unfortunately, this is a private business and so it can package its product any way it wants.
The problem comes when auto insurance is mandated by a state, forcing you to carry it to drive. But since driving is a privilege, not a right, then the state can just say that if you don’t want to be monitored, don’t drive. :/
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