“UBI programs are the perfect opportunity provided to drivers with good driving habits”, said Russell Rabichev, Marketing Director of Internet Marketing Company.
LOS ANGELES (PRWEB) July 23, 2021
UBI programs are getting more and more popular with each year that passes. The numerous advantages provided by UBI programs are tempting for drivers that want to pay less on their insurance premiums. But to pay less on their insurance, policyholders will have to allow their insurers to install a small telematics device in their vehicles. The thought of being monitored can be frightening for some, but for others, UBI programs are a great opportunity.
Usage-based insurance programs have the following advantages:
- Get fast discounts. Typically, insurance companies relied on statistics and the driving history of drivers before granting them discounts. Years of driving history had to be analyzed in order to determine if a driver is worthy of a discount. With a UBI program, insurers will install a small telematics device that will monitor the driving habits of a driver. This device will be installed for only 30 days, a period which is more than enough for insurers to determine if a driver is eligible for a discount.
- Get a low-mileage discount. Insurance companies consider that drivers that spend less time on the roads are less likely to be involved in accidents. And for this reason, they offer a low-mileage discount. Usually, policyholders had to wait until renewal to find out if they are eligible for a low-mileage discount. With the help of UBI, drivers can obtain this discount immediately after the monitoring period is over. Of course, they also have to drive fewer miles than a certain limit in order to be eligible.
- Encourage better driving habits. Policyholders that know they are being monitored and every bad driving habit they have can potentially increase their insurance rates, will probably adopt better driving habits. Also, good driving habits will make the insurance rates to be lowered.
- UBI helps accident investigations. Investigators can find out more about the accident and who is responsible after analyzing the data recorded by the telematics device. Usually, the telematics device will record useful data like speed, acceleration, hard braking, direction, and airbag deployment.
- Substantial discounts for teens. Teen drivers are considered high-risk and they pay a lot on their insurance. UBI programs can help teen drivers with good driving habits to obtain lower insurance premiums.
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