How to Save Money on Car Insurance with Telematics
Hello! My name is Taylor and I am an insurance professional at Duliban Insurance. I’m here to tell you about my amazing experience with Intact Insurance Telematics and why I recommend it to everyone.
Car insurance rates in Ontario can be pretty high. But what you may not realize is that some companies, like Intact, offer special programs that can get you discounts on your premiums. You just need an experienced broker to help you know where to look!
Here’s my story, and the reason I stand behind Telematics insurance completely.
How I Got Into Telematics
Several months ago, I purchased a new vehicle and decided at the time to obtain quotations from each of the different insurance companies that we represent. I wanted to see who would offer me the best coverages at the very best rate.
Once I finished the review of my insurance needs, it came to my attention that Intact Insurance was the best company for the coverages I needed with the premium I wanted. Intact is offering me great coverages at an exceptional rate due to their Telematics program, which they offer to drivers like myself.
How Telematics Insurance Works
Enrolling in the program entitles drivers to receive a “My Drivers” discount of 10% right away, with the potential to increase that discount to a total of 25% on your next renewal. After only a few short months of being enrolled in the Telematics program through Intact Insurance, I soon realized that I love the program and would recommend it to any of our loyal clients!
Essentially, anybody who is with Intact Insurance is eligible to enroll in Telematics and can be offered great savings by doing so. The only requirement you need to enroll in the program is an e-mail so Intact can update you weekly of your driving habits.
The whole idea of the Telematics program is that it tracks your kilometers as well as your levels of braking, accelerating, and the time of day that you drive. It is a common misconception that enrolling in this program can negatively affect your rates based on poor driving habits, but believe it or not, this program can do no harm.
It’s truly so easy to save some money on car insurance when you sign up for Intact Insurance’s “Telematics” program. If you believe that you’re a good driver and should be rewarded as such, this program is a great fit for you!
Enrolling in the Program
To enroll in the program you must sign an application with Intact insurance or already have your automobile insurance through their company.
If you are new to Intact, you can request to enroll in the program at the time of signing the application. If you are already a client of Intact Insurance, then all you have to do is call our office to request to enroll into Telematics.
Upon enrollment, Intact Insurance immediately applies a 10% discount to your premium. Upon analyzing your habits, there is potential for further rate decreases totaling up to 25% on your next year’s renewal. This is valuable to an insuree because it is a simple way to save money on your premium, as well a great way to accurately track your kilometers driven per year and your driving habits.
Once you apply for the program, you will first receive your policy documents in the mail outlining your coverages with your discount showing on your policy. Shortly after receiving the documents, a separate package will be mailed to your home with the Telematics device inside and instructions on how to install it.
The purpose of the device is that it tracks your driving and sends the results to Intact Insurance. The insurance company will then email you the results.
When I received my package in the mail with the Telematics device, I found myself shocked at how little the device was and how easy it was to install. It is a little cube approximately 5cm by 4cm and it simply gets plugged right into your vehicle.
Upon installation and starting your car, you’ll notice a small yellow/green light appear on the device – indirectly signifying that you are officially on your way to great savings!
Can My Insurance Premium Increase Using Telematics?
Maybe – it depends on which province you live in.
In Ontario, for example, insurance companies cannot use the data they collect to penalize you by increasing your rates, cancelling your policy, or determining a claim decision. They can only use the information to build your driving profile and help you reduce your insurance payments.
In Quebec, surcharges can be added to your premiums if you’re classified as a riskier driver based on the data collected from your telematics device.
What have insurance industry professionals called out as “the next big thing”? Telematics. Selected insurance providers can now fit a clever device into your car that measures how well you drive. By having the device installed in your car, it’s possible for you to prove that you drive safely.
Does This Technology Have Any Drawbacks?
In one word: yes! But wait, what does telematics have to do with insurance you ask? Telematics was first used for auto insurance in Canada by one insurer in 2013 and has since grown to be included in a number of insurers’ product offerings. Telematics is a usage based insurance program that allows you to learn more about your driving habits and rewards you with additional savings on your car insurance based on how you drive.
Drivers and critics alike have two main concerns about this new technology:
- Some worry that a usage-based insurance plan may actually work against you. If your insurer classifies you as a risky driver after analyzing your telematics data, in some jurisdictions, your premiums could be increased as a result.
- Telematics technology raises some privacy concerns. Critics say the information that’s collected could be disclosed to third parties or be used to reject claims. Usage-based insurers maintain that your data will remain private and secure.
Many customers turn out to not be that focused on discounts. They would prefer receiving free access to other services, such as roadside assistance — but what services customers want, how to bundle those services, etc. has yet to be worked out.
It’s important to be well-informed about what telematics insurance can offer and who your data can and cannot be shared with. Make sure your insurer requires consent before they can share your information with a third party. If you have any questions about telematics, don’t hesitate to ask us!
You Can Save Money and Become a Better Driver
Every week I receive emails from Intact Insurance with my results from the previous week, and I become informed of any hard brakes or fast acceleration I did during the week.
What I found really neat about it is that it actually tells you the dates and times that you brake or accelerate quickly. By receiving my driving habits weekly, I tend to find myself competing with previous weeks to consistently improve.
I do have close friends who are also enrolled in the program who try to compete with each other and see who can drive the safest during the weeks. I find that the program motivates users to want to be a better driver. This is always beneficial with regards to the safety of others and yourself!
Duliban Can Get You Started With Telematics
Overall, I would recommend this program to anyone I know and of course, I am recommending it to all of our policyholders.
It is such a great program and is does nothing but good! As mentioned, it cannot affect your rates negatively – therefore, it is truly a “no-risk” program with great savings on your premium.
At Duliban Insurance Brokers, we work with Intact to provide the best car insurance rates to all of our loyal clients. Trust us as your hometown broker who will treat you like family and make sure you get the coverage you need- at the rate you want.
You could be just a phone call away from potentially receiving up to 25% off on your automobile insurance. Feel free to call any one of our offices to speak with an insurance professional, like myself, if you would like any additional information regarding the program or if you would like to sign up for Telematics through Intact Insurance!
Taylor O’Brien | Customer Service Professional
Duliban Insurance Brokers Ltd.