Internet of Things holds promise for car insurance: Mayers

February 18, 2015
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As the Internet of ThingsThings to Consider When Shopping for Car Insurance. Read more ... » getsCouple gets $11,000 refund from TD Insurance: Roseman. Read more ... » going, one place where OntarioOntario considers highway signs promoting safe texting zones. Read more ... » consumersU.S. consumers like American Express card best, J.D. Power study finds. Read more ... » might see someSome tips to help find the right financial adviser: Mayers. Read more ... » benefitCanada's drug benefit plans. Read more ... » is in the ever painful cost of carBrampton Driving Schools First in Line for Local Web Traffic From LocalHood.ca. Read more ... » insuranceBrampton Driving Schools First in Line for Local Web Traffic From LocalHood.ca. Read more ... ».

Here in the GTA, we pay the most in CanadaSecurranty Announces Launch in Canada of Its Extended Warranty Offerings on All Consumer Electronics & Appliances Including iPhone 5 & iPhone 4s. Read more ... » to insure our vehicles. The average annual charge is aboutWhat snowbirds need to know about travel insurance. Read more ... » $ 1One snowbird’s $35,000 travel insurance surprise: Mayers. Read more ... »,600 per car, about double what it costsAvoid the pain in managing health-care costs in retirement: Mayers. Read more ... » in Quebec and the Maritimes. The reasons are regulations that don’t serve us very well, entrenched interests that resist changeStop wasting gas in the city with the app that knows when traffic lights will change. Read more ... » and fraudISB Partners with AFI International to Help Clients Fight Insurance Fraud. Read more ... ». An example of the latter: A judge ruled last week that Peel police Const. Carlton Watson was guilty on moreMore privacy protection sought for feds' health care website. Read more ... » than 40 charges of fraud related to writingWriting a book can lead to repercussions: Roseman. Read more ... » false accidentCar accident victim wins challenge to Ontario’s $3,500 insurance treatment limit. Read more ... » reports that passed off staged car crashesDetroit man crashes car, dies while watching porn on phone. Read more ... » as legitimate.

The Internet of Things is the coming connectivity of common devices, allowing them to send and receive dataSamsung Connect Auto car dongle gives you 4G LTE and vehicular data. Read more ... ». It won’t fix Ontario’s insurance mess, but it has the potential to make insurance cheaper by using apps and softwareBrampton Driving Schools First in Line for Local Web Traffic From LocalHood.ca. Read more ... » that recordArt insurers face record half-billion loss from Superstorm Sandy. Read more ... » and transmit your drivingBrampton Driving Schools First in Line for Local Web Traffic From LocalHood.ca. Read more ... » habits.

For those who want to opt in to these programsHow Usage-Based Programs Can Lower Your Auto Insurance Premium. Read more ... », the potential savingsThe one day a year solution to find easy savings. Read more ... » may be significant. The information you share cannot be used6 Things You Should Check Before Buying a Used Car. Read more ... » by insurersArt insurers face record half-billion loss from Superstorm Sandy. Read more ... » to raise your premiumsElderly drivers can be charged higher premiums, rights tribunal rules. Read more ... », by it can be used to lower5 ways to use the twin energizers of cheap gas and lower rates: Mayers. Read more ... » them.

Related:UsageUsage based insurance promises rate relief for Ontario drivers. Read more ... »-basedUsage based insurance promises rate relief for Ontario drivers. Read more ... » insurance promisesUsage based insurance promises rate relief for Ontario drivers. Read more ... » reliefCar insurance relief in sight for young Ontario drivers. Read more ... » for Ontario driversElderly drivers can be charged higher premiums, rights tribunal rules. Read more ... »

The firstBrampton Driving Schools First in Line for Local Web Traffic From LocalHood.ca. Read more ... » of these usage-based insurance (UBI) programs arrived in Ontario almost two years ago when Quebec’s DesjardinsVisa, Desjardins teaser ads urge more credit card use, safer driving. Read more ... » Insurance launchedThe New Rate Comparison Website CompareMyRates.com is Launched and Positioned to Assist American Consumers Save Time and Money. Read more ... » AjustoIs privacy loss worth 8% Ajusto car insurance saving: Mayers. Read more ... ». It involves installing a GPS device the size of a credit cardU.S. consumers like American Express card best, J.D. Power study finds. Read more ... » in your car which sends information to the insurerHome insurer delays while couple freezes: Roseman. Read more ... ».

The device tracks how fast you accelerate and brake, the timeThe New Rate Comparison Website CompareMyRates.com is Launched and Positioned to Assist American Consumers Save Time and Money. Read more ... » of day you drive and the distance you travelBrampton Driving Schools First in Line for Local Web Traffic From LocalHood.ca. Read more ... ». In exchange for meeting targets, the average Ajusto driverHow to get cash after crash from at-fault driver: Roseman. Read more ... » is seeing a 12 per centHow we cut our car insurance bill by 30 per cent: Mayers. Read more ... » discountSnow tire insurance discount tough for some to get: Mayers. Read more ... » on renewal, Desjardins saysOntario drivers overpaid $840M on insurance, study says. Read more ... ».

There are now 11 insurers with approval fromBrampton Driving Schools First in Line for Local Web Traffic From LocalHood.ca. Read more ... » the FinancialSome tips to help find the right financial adviser: Mayers. Read more ... » ServicesOntarians think Uber-like services boost economy: Report. Read more ... » Commission of Ontario (FSCO) to offerMiniCo Insurance Agency to Offer Self-Storage Industry Program in Canada. Read more ... » UBI products, includingSecurranty Announces Launch in Canada of Its Extended Warranty Offerings on All Consumer Electronics & Appliances Including iPhone 5 & iPhone 4s. Read more ... » Intact, AvivaRBC sells home and auto insurance business to Aviva Canada. Read more ... », CAA, Co-operators and Allstate. Some are offering policies and some are about to.

Desjardins Insurance president Sylvie Paquette said in an interview that goodRenovating is a good time to update your home insurance policy. Read more ... » drivers couldFort McMurray wildfire could spark spike in insurance rates. Read more ... » save4 Easy Ways Your Phone Can Actually Save You Money. Read more ... » even more, but FSCO has limited the data gathered.

In Quebec, once insurers meet basic criteria, they are free to offer any products people wish to buy, she said. It’s worthAre fees for loyalty credit cards worth it?. Read more ... » repeating that car insurance in Quebec is a lot cheaper than it is in Ontario.

Paquette says that while the media focuses on information privacyMore privacy protection sought for feds' health care website. Read more ... » and such things as what information is stored and how safeOntario considers highway signs promoting safe texting zones. Read more ... » it might be, customers rarely raise the issue. She suspects thisOuch! How low loonie and Ontario fee hikes will hurt this fall: Mayers. Read more ... » is because they have decided to give up some privacy for a better deal.

Desjardins has found that two-thirds of Ajusto customers are more aware of how they drive. A third says they drive less. The information is available onlineSadler Sports & Recreation Enhances Online Enrollment for Personal Trainer Insurance. Read more ... », so a portion check6 Things You Should Check Before Buying a Used Car. Read more ... » their savings weekly. I tested a unit last spring and found it simple to use, but as a commuter driving in and out of the cityStop wasting gas in the city with the app that knows when traffic lights will change. Read more ... », the upside would have been modestLet it snow! Winter tire insurance offers just a modest break: Mayers. Read more ... ».

Paquette says a new version of Ajusto is coming in the spring. She won’t say what it entails, but hints at the Internet of Things, which would meanMassive storms mean premiums likely to rise. Read more ... » an app that allows you to bring the technology into your phone4 Easy Ways Your Phone Can Actually Save You Money. Read more ... ». (Aviva, for one, has been using this technology in Europe for several years.)

Paul-Andre Savoie, president of Baseline Telematics, a Montreal firm that providesAffordableInsurancePlans.com Now Provides Affordable Car Insurance to Drivers in Pennsylvania. Read more ... » insurers with usage-based software, says the policies create a virtuous circle. They tend to attract better drivers who are eager for a breakWhy burglars prefer Fridays in August to break in to your house. Read more ... ». This means fewer claimsTD Meloche raises rates in wake of water damage claims. Read more ... », which lowers the insurer’s costs. That means better discounts8 Car Insurance Discounts You Need to Know About. Read more ... ».

When you bring the technology into a phone, the costs come down again, because you no longer needWhat snowbirds need to know about travel insurance. Read more ... » a physical plug-in.

Your phone is internet-readyCanadian cities not ready for ‘weather whiplash’. Read more ... » and has a GPS. The GPS knowsStop wasting gas in the city with the app that knows when traffic lights will change. Read more ... » how fast you are travellingRead the fine print if you’re travelling with credit-card insurance. Read more ... » and where you are. The phone knows the time of day, can findThe one day a year solution to find easy savings. Read more ... » out what the weatherCanadian cities not ready for ‘weather whiplash’. Read more ... » is likeU.S. consumers like American Express card best, J.D. Power study finds. Read more ... », road conditions and trafficBrampton Driving Schools First in Line for Local Web Traffic From LocalHood.ca. Read more ... ». It can tie all that together.

If you get into an accident, it can record the time. Did you drift out of your lane beforehand? Was it raining? How sharply did you take the corner? Busy highwayOntario considers highway signs promoting safe texting zones. Read more ... » or quiet side street? How does this information tally with what you tell police or the adjustor?

“It will cost insurers less to gather information and they will knowWhat snowbirds need to know about travel insurance. Read more ... » more,” Savoie says. “The more they know, the better they can create products that can give you a better deal. It puts the powerU.S. consumers like American Express card best, J.D. Power study finds. Read more ... » of the priceThe hidden price of your consumer loyalty. Read more ... » (of insurance) in the hands of the driver.”

The Internet of Things could also tie in to your homeStar gets action: We helped reader keep her home: Roseman. Read more ... » insurance. There are plenty of apps that remotely turn the heat up and down, time the lights or check burglar alarms. PullTop three workplaces New York Life, American Strategic Insurance and St. Mary's School pull off a three-peat. Read more ... » all those features together and you could have a package.

Savoie and Paquette say the biggest obstacle to a faster rollout of new UBI products is the regulator.

“This is the futureWhat’s i-Next? BMW’s Project I is a you-centric vision of the future. Read more ... »,” she says. “We’re ready, but the evolution of the Internet of Things is probably about threeTop three workplaces New York Life, American Strategic Insurance and St. Mary's School pull off a three-peat. Read more ... » years away.”

In the meantime, if your insurance is up for renewal and you want to test the waterTD Meloche raises rates in wake of water damage claims. Read more ... », there’s plenty of choice. It is one way to lower your car insurance costs now.

More columns by Adam MayersMy $603, two-day car rental: Mayers. Read more ... ».

Adam Mayers writes about investing and personalSadler Sports & Recreation Enhances Online Enrollment for Personal Trainer Insurance. Read more ... » finance. ReachHow to reach your insurer in a crisis: Roseman. Read more ... » him at amayers@thestar.ca On Twitter @adammayers_pf

What Desjardins has found

Feedback from a 2014 survey of Ajusto customers.

Source: Desjardins Insurance

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