Today’s Readings: 11-2-2022

I AM BEING TRACKED WHEN I AM DRIVING.….and I am more than ok with it…. In fact, I feel safer!

So my TODAY’s READINGS topic is on INSURANCE PREMIUMS and TRACKING.

I have just switched vehicle insurance carriers, and I am saving $194.00 U.S.D. on a 6 months premium (which is $32.34 per month). That is significant. And the coverage is an apples to apples comparison – meaning both the old company and the new company are giving me exactly the same coverages. I am only carrying the minimum coverage that is required by the State of Georgia. The old company’s price was $349 per 6 months and the new company’s price is $155 per 6 months.

I am so tired having the cost of the insurance go up every time a premium comes due! So, when my old company went up on my price recently, I decided to shop around. I explain below about part of my new price – meaning the discount I am getting for allowing the new company to track me…..which I am ok with!

Note: I read something every day, and some of that reading (EVERY DAY) is done online. What I normally post in my TODAY’s READINGS comes from some of what I am reading online. I started doing my TODAY’s READINGS because I wanted to capture a place to save some of the websites I visit so that I can share them with other people when various topics come up…..but today I am also going to share what I have learned in the process of getting this new insurance coverage.


I am being tracked, and I don’t care……

I am getting a $17 discount off the cost of my new vehicle insurance because I agreed to being tracked. (I also got a little bit of a discount because I paid for 6 months instead of paying for coverage by the month.)

The way the tracking works is via my cell phone. I had to install an app the company provided on my phone that gives the company the ability to track my driving habits. I had to set the phone app to always be running (24/7) whether I am in the vehicle or not. It runs on my phone in the background, which is no problem to me. I just have to have my phone with me all the time when I am driving, and it must be turned on, for this to work right.

The insurance company told me they are not concerned about my location or the actual speed I am going, but they are monitoring the following:

  • my hard breaks
  • my fast accelerations
  • the duration of my trips
  • the miles driven
  • my cell phone use (voice & text) while in motion – but that blue tooth and other hands free use is not counted against me
  • and the times I am driving (and if I am driving between midnight and 4 a.m. on Saturday and Sunday, that counts against me)

I am purposefully not naming my current and past insurance carriers or giving more specifics than this, because other insurance carriers are also offering discounts if a customer opts into tracking. And things change and are based on the customer. To be specific, the price I get for my coverage can’t compare to the price anyone else must pay, because (fair or not) the insurance carriers are factoring the following things into the price they quote different people: A vehicle owner’s physical address and driving record including miles driven in a year/month/week, what the vehicle is used for (business/personal), previous insurance claims, vin number and specifics about the vehicle, length of time owner has carried insurance with another company, and even a person’s credit score and highest level of education obtained.

I had a GPS tracking device installed in my vehicle a few months ago, and I have already been sharing my location everywhere I drive with someone I trust. The mobile app provided by the insurance carrier that is now on my phone does not interfere with the physical GPS installed in my vehicle. They are both working. And I feel safer…..I like being tracked…..but then again, I am not going anywhere that I need to keep a secret…..and I have a good driving record, and I don’t talk and text on my phone which is a big no-no for the insurance companies (and is the law in the State of Georgia where I live).


How Car Insurance Premiums are Calculated

https://www.tdinsurance.com/products-services/auto-car-insurance/tips-advice/how-car-insurance-premiums-are-calculated


How auto insurance premiums are calculated

https://www.foxbusiness.com/money/how-auto-insurance-premiums-calculated


Progressive: How much is car insurance?

https://www.progressive.com/answers/average-car-insurance-cost/


Commercial auto insurance: How are car insurance premiums calculated?

https://www.insureon.com/small-business-insurance/commercial-auto/how-premiums-are-calculated


How Do Those Car Insurance Tracking Devices Work?

https://www.usnews.com/insurance/auto/how-do-those-car-insurance-tracking-devices-work


How do those car insurance tracking devices work?

https://www.trustage.com/learn/understanding-insurance/how-do-car-tracking-devices-work


Should You Let Your Insurance Company Track Your Driving?

https://lifehacker.com/should-you-let-your-insurance-company-track-your-drivin-1845201248


Insurance Companies Are Monitoring Your Phone to See How Much You Use It While Driving

https://jalopnik.com/insurance-companies-are-monitoring-your-phone-to-see-ho-1834411099