Tag: pay as you go insurance

Verifly drone insurance launches a US pay as you fly coverage

H. Cutner
Farmers insurance drone

A startup has created an on demand and per flight form of insurance policy for drone users. The Verifly drone insurance policy launched after having been in the making since the end of 2014. This policy makes it possible for drone users to pay for coverage per flight and on demand. The drone insurance policy uses a mobile app and service that have been in development since 2014. The Verifly drone insurance coverage is available in the United States. The policy covers unmanned aerial vehicle (UAV) use within the commercial…

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Usage based insurance may exchange discounts for privacy risks

G. Turner
Usage based auto insurance

Although the programs are offering cheaper premiums to good drivers, it may come at a cost. Pay as you drive programs, also known as usage based insurance plans, are rapidly increasing in their popularity and use a wireless device installed in the car to allow the insurer to track the actual driving behaviors of the individual so that he or she can receive discounts based on safe habits. However, a recent study is indicating that in exchange for lower premiums, the driver’s privacy may be at risk. The usage based…

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Auto insurance UBI programs gain massive popularity

Julie Campbell
usage based auto insurance

Both insurers and consumers are finding the benefits of pay as you drive coverage to be highly appealing. According to the results of a recent survey, the consumer interest in usage based auto insurance is rapidly climbing, and that it is likely that insurers will take rapid action to take advantage of the appeal that this type of program has to offer. Estimates are now indicating that by 2018, one in every five insurers will offer usage based insurance (UBI). The survey was conducted by Lynx Research Consulting, and it…

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Online Low Mileage Car Insurance Discount With No Deposit Or Credit Check Required

PR Article
Mileage tracking feature in the future for OnStar

PRESS RELEASE: A reputed national service online is providing assistance to secure car insurance discounts for low mileage driver, teenage drivers, student driver and young drivers as per reports appearing in a section of the Press. The company has announced a “Pay-As-You-Go program” with discounts being offered on premiums ranging from 25% to 50% on the solutions that they provide. It is being reported that some reliable and reputable services are helping people to get car insurance low mileage discount regardless of their age. Hundreds of drivers, who drive cars…

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Usage based insurance programs are growing

Julie Campbell
Uusage based insurance predictions

These changes may soon be altering the entire face of the auto coverage industry. A report has just been released that has indicated that approximately 75 percent of companies in the property casualty industry believe that usage based insurance (UBI) will create a significant shift in the auto coverage from the current situation through 2020. The report said that 70 percent of insurers are already involved in some level of UBI. The report was created by Strategy Meets Action (SMA), which is an insurance advisory firm. It stated that among…

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Usage based insurance patent granted to Progressive for sixth time

Julie Campbell
usage based insurance measure

The Snapshot program has now received another level of protection for its mobile device technology. Progressive has just received yet another patent in connection to its usage based insurance program, which covers the specific mobile device that is used by the insurers to obtain driver data. The insurer was awarded U.S. Patent Number 8,311,858 for its mobile device. The wireless device is installed into the vehicle of the usage based insurance policyholder in order to provide data to the insurer that can be used in order to determine that motorist’s…

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Usage based insurance may reach 50 percent in 8 years

usage based insurance dashboard

By the year 2020, over half of all auto policies may use UBI devices for premiums calculations. The results of a research study performed by Strategy Meets Action has revealed predictions that by the year 2020, one fifth of all insurers will have usage based insurance products that will cover over half of the entire personal auto coverage market. It indicated that there would be a very rapid growth in this sector of the industry. The name of the SMA study was “Telematics/Usage Based Insurance: A Catalyst for Change”. The…

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