It is becoming a common trend for insurance carriers to use telematic devices to record your driving behaviors. It can either be a device connected to your car or even an app on your smart phone. The select carriers that use this technology tend to determine a discount based on a few characteristics: how often you're slamming on the brakes, how often you drive over a certain speed limit, and the time of day you're driving at (certain times are considered more dangerous).
Insurance carriers will use this information to give you a driving score will then in turn determine a percentage discount you will receive. All the carriers are different in determining the discount you can receive. It is important to note that the companies will never use this information to add a surplus to your premium in the current term.
Fenix Risk Management is an independent insurance agency proudly serving families & businesses in Georgia, Alabama, North Carolina, South Carolina, Tennessee, and Florida.
Vik is an adviser at Fenix Risk Management.
Note: the opinions expressed in this blog are that of the author, not of any other individual or organization referenced.