Usage based insurance coming to AB.

[16hypen3sp]

You could get up to 30% off your premium... if you're ok being monitored for half a year!

http://edmontonjournal.com/business/...driving-habits

Global News video here:
http://globalnews.ca/video/2621380/a...ased-insurance

[D'z Nutz]

Hell yeah, sign me up! I only put on 6-8000km a year. I drive so infrequently, my insurance company would probably think they sent me a faulty tool haha

[btimbit]

Even if they do badly, their premiums won’t rise.

....

The territory driven, type of road and location — including checking how the speed travelled compares to the posted maximum — can’t be factors.

Meh, why not. I'd be concerned if it contained a GPS and tracked speed v limits on every road, but if it's only "No going over 125" then I can do that. Rarely drive my personal vehicle much these days anyway.

Wouldn't switch over it, but if my insurance company did it, I'd give it a go

[Mibz]

Don't let rage2 use this, they'll look at his data and implement a penalty system.

[ExtraSlow]

The devil is in the details for things like this, but I would be interested. I drive much less than average.

Be interesting to know if one or two bouts of speeding 20 over would destroy your discount, or if you get a lot of chances at it. Also if you get some kind of warning?

I sure drive a lot slower than I used to, but manage to sneak over the posted speed occasionally.

[Cos]

.

[Sdeibert]

I'm in if it's similar to progressives snapshot one.

https://www.reddit.com/r/hacking/com...dii_device_for

[Dave P]

haha There is zero chance in hell I would let my insurance company put a gps in my vehicle. And I am a pretty slow driver and work for an insurance company.

Oh I see you were in a car accident and going 60.5km at the time of impact in a 60 zone. Claim denied you law breaking scum. haha

The analytic departments must be licking their chops for this haha

[Hallowed_point]

It's interesting for a certain demographic. Who doesn't brake hard before a corner? And who doesn't hit 130+ once in a blue moon on Deerfoot @ 6 AM? I worry about a device like this becoming mandatory hence the "soft launch."

[Sugarphreak]

...

[rx7_turbo2]

Originally posted by Dave P
haha There is zero chance in hell I would let my insurance company put a gps in my vehicle. And I am a pretty slow driver and work for an insurance company.

Oh I see you were in a car accident and going 60.5km at the time of impact in a 60 zone. Claim denied you law breaking scum. haha

The analytic departments must be licking their chops for this haha

"The Allstate program doesn’t involve GPS, so the company can’t tell where drivers are going, Sawatzky said."

[g-m]

It's car specific. Throw it on the commuter and save the fun car for the fun stuff

[D'z Nutz]

Originally posted by Dave P
haha There is zero chance in hell I would let my insurance company put a gps in my vehicle. And I am a pretty slow driver and work for an insurance company.

Oh I see you were in a car accident and going 60.5km at the time of impact in a 60 zone. Claim denied you law breaking scum. haha

The analytic departments must be licking their chops for this haha

Zero chance in hell you read the article too.

I hope nobody's stuck with you when their claims are being processed.

[rx7boi]

^

[rage2]

My cars all have huge brakes, I'll be off the charts for heavy braking haha.

[Russo]

Originally posted by rx7_turbo2


"The Allstate program doesn’t involve GPS, so the company can’t tell where drivers are going, Sawatzky said."

But I am sure if you have an accident, they will know where it was, the speed limit and what your speed was at the time of the accident. No GPS needed.

[Mitsu3000gt]

I'd be all over this, I average around 5000-6000km/year. As long as they don't check current vs posted speeds (under 125km/h) its an easy 'pass'. If they can deny claims based on that though then that's no good, but it says that isn't a factor at least for the probation period.

[Dave P]

Originally posted by rx7_turbo2


"The Allstate program doesn’t involve GPS, so the company can’t tell where drivers are going, Sawatzky said."

Ok, My mistake: "It’s a little box you plug in under the steering wheel, and it sends out information" sounds much better haha.

Originally posted by D'z Nutz


Zero chance in hell you read the article too.

I hope nobody's stuck with you when their claims are being processed.

Ok, you got me, I only skimmed the article, but Allstate isn't the first people to come up with this.

You keep drinking the juice if you think this is to make you more aware of poor driving events and it leads to safer driving habits,cost

Insurance companies have gigantic analytic and actuary departments that will be eye balling this all day long looking to exploit bad driving habits.

Once the data rolls in, it will be so easy to show how someone who "hard brakes X times a day, is X times likely to be involved in an accident, and deserves X times premium increase to compensate for the exposure"

[Masked Bandit]

I'm currently testing this system right now.

I have it in my truck and the wife's car, but I'm sure not putting it in the Challenger...lol.

Allstate has a second company called Pembridge that is sold through brokers like us. The rep from Pembridge told me about this a while back so my staff and I all signed up to be testers. Only one of us are ACTUALLY insured with Pembridge at the moment but we can all access our individual data. There's a web-based portal that you log into to view your profile. It logs the number of trips, the drive time for each, distance travelled, max speed and hard braking events.

They've been using this technology in the US for years and it's already live out in Ontario. Apparently this system is the 8th generation of hardware so it's supposed to be pretty accurate.

[Masked Bandit]

Originally posted by Dave P


Ok, My mistake: "It’s a little box you plug in under the steering wheel, and it sends out information" sounds much better haha.




Ok, you got me, I only skimmed the article, but Allstate isn't the first people to come up with this.

You keep drinking the juice if you think this is to make you more aware of poor driving events and it leads to safer driving habits,cost

Insurance companies have gigantic analytic and actuary departments that will be eye balling this all day long looking to exploit bad driving habits.

Once the data rolls in, it will be so easy to show how someone who "hard brakes X times a day, is X times likely to be involved in an accident, and deserves X times premium increase to compensate for the exposure"

You're selling this all wrong Dave (although I guess sales is my end of the business...lol). There are no premium INCREASES per se, just like when credit scoring was being implemented. They just start with a higher base price and those who don't hit certain benchmarks simply don't get the discounts. That's how the industry got the regulators to agree to the credit scoring. Nobody is SURCHARGED for negative results, but they still end up paying more.