Car Insurance Companies Wanting to Track your Movements

[Taipan49]

http://www.citylab.com/commute/2014/07/car-insurance-companies-want-to-track-your-every-moveand-youre-going-to-let-them/374165/

 

I rather like this idea. Wonder when we could see this here. More details on the link.

 

After analysis of billions of miles in driving data, Progressive has found that key driving behaviors—like actual miles driven, braking, and time of day of driving—carry more than twice the predictive power of traditional insurance rating variables, like a driver’s age, gender and the year, make and model of the insured vehicle.

 

 

[Gizmore]

Such information will only be used by insurance companies to give reasons to increase your premium.

 

i.e. based on the data collected from your vehicle, it has been found that there is a high tendency for you to brake suddenly and statistic has shown that such driving habits leads to accident. Therefore your premium will be x% higher at the next renewal.

 

 

[lausai88]

for insurance companies to track driving data, need resources to collect and process and ... = $$$.

who paying the insurance companies to do the tracking?

drivers lah...

[Furrynadz]

breach of personal privacy

big can of worms here

[Super7]

Such information will only be used by insurance companies to give reasons to increase your premium.

 

i.e. based on the data collected from your vehicle, it has been found that there is a high tendency for you to brake suddenly and statistic has shown that such driving habits leads to accident. Therefore your premium will be x% higher at the next renewal.

 

 

 

What if if the data shows the driver is a careful driver? Will his premium be reduced?

[Xers007]

 

What if if the data shows the driver is a careful driver? Will his premium be reduced?

 

minor reduction yes... but found out you are "not" careful driver... prepare to pay much more premium... paying almost same premium when our ncd build up from 0% to 50% we knows what this industry is capable of...

 

[Ryu]

 

What if if the data shows the driver is a careful driver? Will his premium be reduced?

 

Double edged sword. With the data can also find more reasons to void your insurance in the event of a "collision".