well, problem would be many folks would think big brother is looking over my shoulder… but then again, this is voluntary… i could see someone trying to fudge some numbers also… the telemetrics system to be installed at whose expense? here might be where the costs overide the savings…
We all know that credit is the only determinant of good driving. If a driver with poor credit scores ‘super’ using these criteria – these physical criteria are undoubtedly in error and useless. What a waste of time and effort. Credit profiling rules! I can’t wait until judges and juries start accepting credit profiling as genuine indicators of guilt or innocence. This is gonna be great!
I think they pulled these savings numbers out of their a$$es. I think most people’s rates will go up as they don’t realize how much they really drive each year. I can’t tell you how many clients I have that say they only drive 7k miles a year but commute 5 days a week 35 miles each way. I think these clients are going to be in for a big surprise. The majority of insureds always underestimate their annual mileage and even some agents put down less mileage to get the sale.
I strongly believe this is way in which the Insurance Companies verify the miles driven by each driver which are always underestimated by the insureds. Remaings to be the success of this program as insured may try to bit the system somehow in order to participate in the program and save money. No one will be limited to drive less only because they want to save, they will probably drive more but report less mileage.
that is an interesting comment, decide guilt or innocence based on credit. as the insurance industry would say, you are more likely to commit/file a claim and therefore i am going to give you a higher rate despite the great driving you do. so if i have a great credit and going to court, are we going to say i am more likely to get off/found not guilty?
key words more likely to file! it does not matter if i am rich or poor, i’d file a claim to fix my car because that is why i bought the insurance. now if i have had several accidents and then it can really cost me some money to indemnify my car. but to have a great driving record with no incidents, and yet find myself in a lower bracket because of my credit – that not good. i have seen folks with bad driving records, but because of a very outstanding credit move to the upper tier of insurance. so where does that leave us to understand about filing claims? where does that show that because i have poor credit i am more likely to file a claim. this is why the issue of credit needs to be rid of.
Visit http://www.pay-as-you-drivecarinsurance.com for agency marketing website for PAYD insurance coverage. Great domain name for any agency that will be offering PAYD policies in California or other states.
A Texas company pioneered this:
milemeter.com
well, problem would be many folks would think big brother is looking over my shoulder… but then again, this is voluntary… i could see someone trying to fudge some numbers also… the telemetrics system to be installed at whose expense? here might be where the costs overide the savings…
seems like the only folks who would participate in this are people who are certain that it would lower their insurance premiums.
How would this help the carrier?
We all know that credit is the only determinant of good driving. If a driver with poor credit scores ‘super’ using these criteria – these physical criteria are undoubtedly in error and useless. What a waste of time and effort. Credit profiling rules! I can’t wait until judges and juries start accepting credit profiling as genuine indicators of guilt or innocence. This is gonna be great!
I think they pulled these savings numbers out of their a$$es. I think most people’s rates will go up as they don’t realize how much they really drive each year. I can’t tell you how many clients I have that say they only drive 7k miles a year but commute 5 days a week 35 miles each way. I think these clients are going to be in for a big surprise. The majority of insureds always underestimate their annual mileage and even some agents put down less mileage to get the sale.
I strongly believe this is way in which the Insurance Companies verify the miles driven by each driver which are always underestimated by the insureds. Remaings to be the success of this program as insured may try to bit the system somehow in order to participate in the program and save money. No one will be limited to drive less only because they want to save, they will probably drive more but report less mileage.
that is an interesting comment, decide guilt or innocence based on credit. as the insurance industry would say, you are more likely to commit/file a claim and therefore i am going to give you a higher rate despite the great driving you do. so if i have a great credit and going to court, are we going to say i am more likely to get off/found not guilty?
key words more likely to file! it does not matter if i am rich or poor, i’d file a claim to fix my car because that is why i bought the insurance. now if i have had several accidents and then it can really cost me some money to indemnify my car. but to have a great driving record with no incidents, and yet find myself in a lower bracket because of my credit – that not good. i have seen folks with bad driving records, but because of a very outstanding credit move to the upper tier of insurance. so where does that leave us to understand about filing claims? where does that show that because i have poor credit i am more likely to file a claim. this is why the issue of credit needs to be rid of.
Visit http://www.pay-as-you-drivecarinsurance.com for agency marketing website for PAYD insurance coverage. Great domain name for any agency that will be offering PAYD policies in California or other states.
Serious inquiries only.