Telematics & Car Insurance: What You Need to Know
As technology continues to enhance our lives, even the ‘’dull’’ and ‘’boring’’ insurance industry has jumped aboard the bandwagon, in an effort to lower car insurance premiums for good drivers.
Telematics has been used in the auto industry for a number of years. Some companies will use telematics to track usage amounts on company vehicles. Delivery companies can use it to monitor where their drivers are and to make sure they’re safe.
In the auto insurance sector, more companies are using telematics as a way for their customers to prove their driving ability, which can lead to insurance discounts, for those who qualify.
Telematics: what is tracked?
For insurers that offer telematics (also known as usage based insurance) to their customers, four key metrics are tracked:
- the amount of kilometres driven
- the time of day the vehicle is being driven
- rapid acceleration & speed
- hard braking
Two of Surex’s partner insurance providers, Pembridge and Intact Insurance, offer telematics to their customers.
Pembridge: My_BRIDGE
Pembridge first launched My_BRIDGE, their telematics program, two years ago in Ontario and Nova Scotia. Albertans have had access to My_BRIDGE since May of 2016.
Drivers eligible to participate in My_BRIDGE will be sent a tracking device in the mail. Pembridge will monitor your driving for six months. After that period, depending on your driving habits, you’ll be eligible for a discount of up to 30% off on your car insurance premiums.
In order to participate in My_BRIDGE, your vehicle needs to be a 1998 or newer model. Exclusions include electric, diesel and hybrid vehicles.
Currently, My_BRIDGE is offered in Ontario, Nova Scotia and Alberta.
Intact Insurance: my Driving Discount
Intact launched my Driving Discount in Alberta in March of this year.
Unlike Pembridge, my Driving Discount is an app that can be downloaded on your iPhone or Android smartphone, or you can choose to use their device. Those eligible to participate in the program will be given a 5% discount off their car insurance up front. Upon renewal, drivers will be able to receive a discount of up to 25% on their premiums.
In order to participate in my Driving Discount, your vehicle needs to be a 1998 or newer model. Electric, diesel and hybrid vehicles are eligible for use in the program.
Currently, my Driving Discount is offered in Alberta only.
Get an Online Car Insurance Quote in 5-10 Minutes
Completing a Surex car insurance quote takes 5-10 minutes. Not only will you see Pembridge and Intact Insurance prices, but you’ll receive up to 10 total offers from our insurance partners.
From there, you’ll be assigned a personal broker. If you want to participate in My_BRIDGE or my Driving Discount, your broker will be able to check your eligibility and set up your policy.
