Personal Insurance

Vehicle Telematics are a device, or an app on your mobile phone that tracks and reports your driving habits. Insurance carriers review this information, including how hard you break, how fast you accelerate, how much you drive and for how long, speed, and a variety of other recordable factors, to determine the risk that you will cause an accident. Depending on their finding you may get a discount on your insurance after a predetermined review period.

However, many carriers offer a discount for simply enrolling and activating/using the device or phone app.  Most discounts start around 5%, and depending on your driving habits, could increase to as much as 50% with some carriers.

Here are some top insurance carrier offerings: (alphabetically)

  1. AAA

    1. Program is called AAA Drive and can save your household between 15-30%.
    2. Requires an app on your mobile phone. Phone must have GPS enabled.
    3. The main factors they look at to determine discount amount are:
      1. Smooth Driving – limited hard breaking, and steady acceleration
      2. Mobile Distractions – how you use your phone while driving
      3. Time of Day – do you primarily drive during the day or at night?
      4. Fatigue – how long you drive in a single trip without taking breaks
    4. Review period: 120 days
    5. Discount during review period: Depends on household factors.
    6. There are minimum requirements for how often the vehicle is driven and how far within specific periods of time
    7. The driving habits of the household are considered, not just the insured.
  1. Encompass

    1. Program is referred to as telematics and can save you up to 5%.
    2. Requires an app be installed on your mobile phone. Phone must have GPS enabled.
    3. The main factors they look for to determine discount are:
      1. Speed
      2. Hard Breaking
      3. Time of Day
      4. Mobile Distractions
    4. Review Period: 60 days prior to renewal
    5. Discount during Review period: 5%
    6. There are minimum requirements for how often and how far the vehicle is driven within the review period
  1. National General

    1. Program is referred to as Smart Drive and can save you up to 5%
    2. Requires an app to be installed on your mobile phone.
    3. The main factors they look for to determine discount are:
      1. Speeds at or above 80 mph
      2. Hard & Extreme Breaking
      3. Time of Day
      4. Mobile Distractions
    4. Review period: 30 days
    5. Discount during review period: up to 5%
    6. App must be used within every 30-day period
  1. Nationwide

    1. Program is called Smart ride
    2. Requires a device be placed in your vehicle
    3. The main factors they look for when considering a discount are:
      1. Driving Habits
    4. There is no review period or initial discount for this program
    5. Discounts are applied and increase as Insured improves driving habits based on feedback from telematics device.
    6. Insured must provide an email address.
  2. Safeco

    1. Program is called Right Track and can save you up to 30%
    2. Requires a device be placed in the vehicle and an app be installed on your mobile phone.
    3. The main factors they look for to determine discount are:
      1. Acceleration
      2. Hard Breaking
      3. Time of Day
      4. Total Miles Driven
    4. Review period: 90 days
    5. Discount during review period: 5%
  1. State Auto

    1. Program is called Safety 360 and can save you up to 50%
    2. Requires a device be placed in the vehicle.
    3. The main factors they look for to determine discount are:
      1. Acceleration
      2. Hard Breaking
      3. Time of Day
      4. Speed
      5. Road type – are you mainly driving on highways, city streets, neighborhoods, etc.
    4. Review period: Discount is updated each renewal
    5. Discount applied during first term of program is 10%
  1. The Hartford

    1. Program is called True Lane and can save you up to 25%
    2. Requires a device be placed in the vehicle.
    3. The main factors they look for to determine discount are:
      1. Acceleration
      2. Hard Breaking
      3. Time of Day
      4. Speed
      5. Distance
    4. Review period: 6 months (Discount is updated at each renewal)
    5. Discount applied during first term of policy is 10%
  1. Travelers

    1. Program is called Intellidrive and can save you up to 20%
    2. Requires an app to be installed on your mobile phone.
    3. The main factors they look for to determine discount are:
      1. Rapid Acceleration
      2. Hard Breaking
      3. Time of Day
      4. Speed
    4. Review period: 90 days
    5. Discount applied during review period varies depending on household factors.
    6. Negative driving habits can result in a rate increase.

With so many program options take the time to review your driving habits and consider if Vehicle Telematics are right for you.  Contact an Insurance Advisor for more information.

 

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