The auto insurance industry is much different today than it was just 10 years ago. Insurance companies are having an increased number of accidents. Why? Distracted Driving and cell phones is a big part of it. Think about how many times do you pull up to someone texting and driving or talking on their phone. This means that most insurance companies are having to raise premiums. A new technology called Telematics helps get you a new auto insurance discount. These new devices can save up to 50 percent and help individualize your rates.
Telematics are devices that you plug into your vehicle that help measure your driving habits. They typically plug into a port just below the steering wheel. Some companies offer an app that you can install on your phone instead of a plug in device.
What do telematics measure?
Not every insurance company measures the same driving habits. Typically they measure hard breaking. The insurance carriers knows that if you are hard breaking then you are most likely following too closely. Next they measure time of day driving. On average, driving in the day is safer than driving at night because of visibility. Lastly, they look at your speeds where and how far your travel.
So do you consider yourself a good driver? Telematics auto discount programs may be able to help you insurance. Unlike other discounts, telematics help you pay individualized rates.
State Auto Insurance is a insurance carrier based out of Columbus, Ohio and has been in business since 1921. State Auto has a telematics auto insurance discount called State Auto 360. They will send you a plug in device that you keep in as long as you are with them. State Auto offers up to a 10 percent discount for enrolling in the program and up to 50 percent in total based off how you drive!
Nationwide offers the Smartride Auto Discount. Like State Auto, they send you a plug in device but you only have to keep it in for your first policy term. Nationwide offers 5 percent for enrolling in the telematic program and then up 30 percent when the policy renews.
Safeco has one of the best telematic auto insurance discount programs, in our opinion, its called RightTrack. Like both Nationwide and State Auto, Safeco sends you a plug in device but you only have to keep it in for 3 months. The great part about the RightTrack program is that you start seeing these discounts of up to 30 percent after the 3 month enrollment period.
Progressive offers a telematic auto discount program called Snapshot. It is designed to give a “snapshot” into your driving habits. Progressive gives you the option to use a plug in device or use an app on your phone. They give an initial enrollment discount and then up to 20 percent when the policy renews.
Telematics are a great way to get your prices down. Having an independent agent, gives you more options. Millennium Brokers represents multiple different insurance carriers who have telematic based discounts. Let us help you start saving today!