Auto insurance set by when and where you actually drive
Jonathan Hick, a 21-year-old student at the
University of Nottingham, likes to think of himself as independent-minded.
Nonetheless, he recently let his insurance company install a system that uses
satellites to track every movement his car makes.
No discount for “oops!”
Jonathan Hick, a 21-year-old student at the University of Nottingham, likes to think of himself as independent-minded. Nonetheless, he recently let his insurance company install a system that uses satellites to track every movement his car makes.
“As soon as I heard the offer, I signed up,” said Hick, who was one of the earliest to join a pilot program in Britain by Norwich Union, an insurance unit of Aviva that calculates insurance payments based on where and when cars were actually driven.
“I pay half as much for insurance and think twice about using the car during the expensive times that are considered high risk for accidents,” Hick explained.
The insurance, which has been sold by Norwich Union since October, uses the Global Positioning System of satellites to keep track of where, when and how far a car has been driven to determine rates each month.
It does not record speed.
Lots of meat to the article. It raises questions beyond the cost and savings — like privacy.
I’m also calling my insurance agent, today, to ask when I might be able to get something like this for my pickup? He won’t have a clue.
Posted: Fri - February 23, 2007 at 06:26 AM