If you’re a safe driver, you deserve to save money on your insurance policy. Not everyone drives the same, so one policy does not fit all. Attentive drivers can save money by staying safe behind the wheel using telematic programs. Telematic programs are a new, innovative way to base your insurance policy on your driving performance.
These driving programs use a tracking device inside the vehicle, such as an installed tracker or cellular app, that captures data about your driving to send directly to your insurance company. Each program is different, but the purpose is the same: the driver receives a discount based on how they drive. Travelers and Nationwide both offer telematic programs that can save you money on your insurance policy.
Nationwide’s SmartRide program offers both an app and a small device to track driving performance. Those who enroll will receive a 10% discount upon enrolling in the program. The safer you drive the bigger the discount you receive. Policyholders can save up to 40%. This program tracks your driving performance for about four to six months. SmartRide measures four driving factors, including miles driven, hard braking and acceleration, idle time, and nighttime driving. If using the mobile application, download the SmartRide app and activate it. Drive as you would normally do and be sure to confirm the first few trips. If using the non-mobile version, Nationwide will send you a small device for your car within ten days of signing up. Once installed, drive as you normally do. For the device, you must send it back before receiving your final discount. You can track your discount and get personalized feedback about your driving habits on the app or online. In the end, lock in your final discount. Once you lock in your final discount it will apply at your next policy renewal. The program will not raise your premium.
Travelers’ IntelliDrive program is an option that only uses an app to track your status. The driver will automatically receive a 10% discount on their first term of the new policy for signing up. You can earn up to 30% savings annually for the life of your policy. To enroll, download the IntelliDrive app on your smartphone. It will automatically detect when you get into a vehicle and start a trip. The app tracks five driving variables including time of day, hard-breaking, rapid acceleration, speed, and distracted driving. Distracted driving is new to the program and tracks the driver’s phone use such as texting, in-hand phone calls, social media use, and browsing the internet. The app will track the driver’s performance for a period of 90 days any time the vehicle is in motion. You can check your performance, see your projected discount, and receive driving tips on the app during the 90 days. Based on the driving performance of you and the other participating drivers on the policy, your actual adjusted car insurance rate will be reflected the first time your policy renews. Riskier drivers may receive a higher premium.
Insurance policies and rates are constantly changing, and these programs are a smart, new way to save money on your premium. If you are committed to following the rules of the road, staying alert, and avoiding distractions enroll today.
