Premium Perspectives

The Caerus Insurance Blog

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.

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