By: Katie Zurawka
Usage-based auto insurance (UBI) is revolutionizing the way we think about car insurance. Instead of relying on general statistics, UBI determines premiums based on your actual driving behavior. This is typically monitored through telematics devices installed in the vehicle, or now more commonly through mobile apps and direct reporting from the vehicle manufacturer. These devices collect data on various driving metrics such as speed, distance traveled, braking patterns and the time of day the vehicle is used.
Benefits of Participating in UBI Programs:
Personalized Rates and Cost Savings: Insurance premiums are tailored to the individual’s driving behavior, making for more favorable rates for those who drive less or drive more safely.
Incentives for Safe Driving:
Many UBI programs offer rewards or discounts for safe driving practices, encouraging better driving habits. Feedback on Driving: Drivers receive feedback on their driving behavior, which can help them improve their driving skills and reduce the risk of accidents. This is a great tool for all drivers but especially for newly licensed drivers to help them build and maintain safe driving habits.
Carriers Offering Usage-Based Insurance
Here are some of our insurance carriers that offer UBI programs:
- Travelers: Intellidrive®program
- Safeco Liberty Mutual: RightTrack® program
- Nationwide: SmartRide® program
- Progressive: Snapshot®
By participating in a UBI program, you can take control of your auto insurance rates and enjoy the benefits of personalized premiums, incentives for safe driving and valuable feedback on your driving habits. Contact our account management services to review your coverage and savings options!
About Howard Hanna
Howard Hanna Real Estate Services proudly provides real estate, mortgage, title, and insurance services across 14 states. As the largest family-owned and -operated real estate brokerage in the United States, Howard Hanna operates more than 500 offices with 15,000 sales associates and staff. The company’s proprietary Hanna Success System helps its agents achieve 53% more business than agents at the top 1000 brokerages nationally. Learn more at www.HowardHanna.com.
