http://www.thestar.com/business/personal_finance/insurance/2014/03/09/usage_based_insurance_promises_rate_relief_for_ontario_drivers.html
GTA drivers pay the highest car insurance rates in Canada , with an average cost per car of $1,500 a year. So anything that reduces the cost is welcome. Insurers believe many drivers would be quick to take advantage of their usage-based insurance plans. They all involve some form of GPS tracking device that record how you drive, including such things as acceleration, braking and speed. In exchange for good habits, you get a discount.
Quebec's Desjardin Insurance is the only insurer offering a usage-based program in Ontario. But three more have been given approval by the provincial regulator to introduce their own versions this year.
Insurance companies are attracted to the technology, because it is a more accurate way of assessing risk — and ideally, it improves a driver's behaviour by providing an incentive for good driving. That means fewer accidents and fewer claims for the insurance company to pay out.
"We've seen some of our clients reduce their claims payouts by up to 40 per cent, because [drivers are] made aware of their driving and therefore they drive slower and safer to get savings," said Paul-André Savoie, the president of Montreal's Baseline Telematics .
Savoie's company produces the GPS tracking technology used by insurers in Europe, the United States and Quebec.
Desjardins launched its usage-based program in Ontario and Quebec last May and has attracted 45,000 new customers, said Joe Daly, a spokesman for Desjardins.
Quote from: "Fashionista"
GTA drivers pay the highest car insurance rates in Canada , with an average cost per car of $1,500 a year. So anything that reduces the cost is welcome. Insurers believe many drivers would be quick to take advantage of their usage-based insurance plans. They all involve some form of GPS tracking device that record how you drive, including such things as acceleration, braking and speed. In exchange for good habits, you get a discount.
Quebec's Desjardin Insurance is the only insurer offering a usage-based program in Ontario. But three more have been given approval by the provincial regulator to introduce their own versions this year.
Insurance companies are attracted to the technology, because it is a more accurate way of assessing risk — and ideally, it improves a driver's behaviour by providing an incentive for good driving. That means fewer accidents and fewer claims for the insurance company to pay out.
"We've seen some of our clients reduce their claims payouts by up to 40 per cent, because [drivers are] made aware of their driving and therefore they drive slower and safer to get savings," said Paul-André Savoie, the president of Montreal's Baseline Telematics .
Savoie's company produces the GPS tracking technology used by insurers in Europe, the United States and Quebec.
Desjardins launched its usage-based program in Ontario and Quebec last May and has attracted 45,000 new customers, said Joe Daly, a spokesman for Desjardins.
I am all for anything Fash that rewards good driving habits.
Quote from: "Fashionista"
GTA drivers pay the highest car insurance rates in Canada , with an average cost per car of $1,500 a year. So anything that reduces the cost is welcome. Insurers believe many drivers would be quick to take advantage of their usage-based insurance plans. They all involve some form of GPS tracking device that record how you drive, including such things as acceleration, braking and speed. In exchange for good habits, you get a discount.
Quebec's Desjardin Insurance is the only insurer offering a usage-based program in Ontario. But three more have been given approval by the provincial regulator to introduce their own versions this year.
Insurance companies are attracted to the technology, because it is a more accurate way of assessing risk — and ideally, it improves a driver's behaviour by providing an incentive for good driving. That means fewer accidents and fewer claims for the insurance company to pay out.
"We've seen some of our clients reduce their claims payouts by up to 40 per cent, because [drivers are] made aware of their driving and therefore they drive slower and safer to get savings," said Paul-André Savoie, the president of Montreal's Baseline Telematics .
Savoie's company produces the GPS tracking technology used by insurers in Europe, the United States and Quebec.
Desjardins launched its usage-based program in Ontario and Quebec last May and has attracted 45,000 new customers, said Joe Daly, a spokesman for Desjardins.
Interesting idea, but I do not see it happening in Saskatchewan.
Why not Herm?
Quote from: "seoulbro"
We have government owned. The funds are managed and invested well, but good drivers subsidize the careless. It's not as bad as it used to be, but it does not follow free market principles of auto insurance yet.
It might make me be more careful than normal behind the wheel.
I personally don't feel like being monitored by my insurance company.
Quote from: "RW"
Does it monitor where we go or how we drive?
Quote from: "RW"
Almost everyone who drives a company vehicle nowadays is monitored.
Does anyone else find it kinda funny that Asians should be discussing insurance discounts for good driving.
Thanks for making my morning guys. ac_lmfao
Quote from: "Renee"
Thanks for making my morning guys. ac_lmfao
:001_rolleyes:
Quote from: "Shen Li"
Quote from: "RW"
Almost everyone who drives a company vehicle nowadays is monitored.
What is wrong with that?
Quote from: "Herman"
Quote from: "Shen Li"
Quote from: "RW"
Almost everyone who drives a company vehicle nowadays is monitored.
What is wrong with that?
I know that because my husband uses company trucks when he has to go to a field location.