Tracking Devices

Tire Tracks by Michael Wenzel

How do you feel about putting a tracking device in your car to save money on Auto insurance?

Do you think you’re a better driver than most?   How do you know?

Your kids assure you that they drive more safely than their peers, but how can you be sure?

If you don’t have recent auto accidents or tickets, is it because you’re good or just lucky?

Installing car tracking devices to save on premiums is a growing trend.

Insurance companies are increasingly willing to give more discounts to drivers who agree to share information regarding their daily driving habits.

Drivers who are willing to opt in to these programs are benefitting from roughly 10% discounts when they enroll, and about 80% of them are keeping discounts at renewal time.

Also, tracking our driving habits is getting more convenient with the use of mobile phone apps, as well as plug in devices.

These tracking devices measure how we brake, accelerate, and turn, as well as driving duration, time of day, and frequency.

Drivers receive real time score cards which measure their performance and advise them on what areas they can improve.

Since young drivers are inexperienced and expensive to insure, parents often appreciate objective feedback on their children’s driving habits.

Over 35% of drivers in a recent Pew study said they were willing to share such data, but there are still lots skeptics who chose not to share their personal data.

How about you?  Let us know what you think.

Could summer remodeling leave you underinsured?

Perspective  Newsletter

August 1, 2019by  PEMCO Insurance


​Maybe it’s the HGTV effect. Maybe rising home prices have made us less likely to move. Whatever the reason, we’re remodeling our homes more than ever before. Last year, spending on home remodeling climbed almost 17% over the previous year’s total.

All that shiny new quartz and hardwood could leave a lot of people underinsured. An estimated one-third of homeowners forget to call their insurance companies after a remodeling project.

Almost all homes start out with the right amount of insurance. However, they can become underinsured if homeowners don’t update their policies when they:

  • Remodel, add or expand rooms
  • Finish a basement or add a porch or deck
  • Upgrade from vinyl floors to hardwoods, laminate counters to quartz or replace appliances with high-end models. (That’s especially important for condo owners. While original appliances and surfaces usually are covered by the condominium association master policy, replacements aren’t.)
  • Pave a driveway or build a fence, detached garage or gazebo.

If you’re wondering if your policy could be falling short, check the “Coverage A” amount found on your latest renewal. If it seems too low or you’re just not sure, call your local PEMCO agent or 1-800-GO-PEMCO for a complimentary review. While no one knows your home better than you do, you definitely don’t have to go it alone when determining the right amount of coverage.

One more way PEMCO helps you worry less

Inflation and rising construction costs can impact how much you’d have to pay to rebuild your home after a disaster. But you don’t have to keep track! PEMCO automatically adjusts coverage each year to follow the local construction industry’s pricing for labor, materials and debris removal.