Back To Top
Page Illustration

Blog

FAQ: What is an Insurance Telematics Discount?

Thursday, 10 June 2021

You’re a confident and safe driver and you deserve to be rewarded for your good driving, right? When you shop with Billyard Insurance Group, you might qualify for an insurance telematics discount of up to 30% on your next renewal. Plus, you can receive up to a 20% discount by simply signing up for the telematics program! In this blog, learn about how you can save more money through an insurance telematics discount at Billyard Insurance Group.

Insurance Telematics Discount: What Is It?

Telematics is a technology that tracks driving metrics in order to reward good drivers with additional insurance discounts. If you agree to sign up for telematics, your insurance carrier will use a mobile app, or a device connected to your car to track metrics that demonstrate your driving habits.

When you drive, the collected data will be sent to your insurance company and evaluated. After a set tracking period (varies depending on the carrier), you will receive an insurance telematics discount. This discount is applied when you renew your insurance with the same carrier for the following term.

Insurance Telematics Discount: Why Should I Try It?

There are so many benefits to trying out the insurance telematics discount. If you’re eligible for it, it never hurts to try it out! Here are just some of the benefits:

  • You could save up to 30% on your auto insurance.
  • You might be eligible for up to a 20% discount on your current policy for just signing up!
  • It’s completely free! The mobile app or telematics device is provided at no cost to you.
  • Your data is kept confidential. Any data collected will NOT be used for any other purpose without your consent.
  • You will receive regular reports and tips so you can track your discount and improve your driving.
  • You can remove the mobile app or tracking device after the tracking period is finished.
  • Low phone battery use and data consumption (only 3% - 6% of a smart phones battery life per hour and used 30 – 60MB of data per month)
  • If you change your mind, some carriers allow you to opt-out within 30 days of signing up.

Insurance Telematics Discount By Insurance Provider

At this time, four of our trusted partners offer an insurance telematics discount. Here is a breakdown of the discounts available and the metrics they track. It’s important to note that some companies try to further incentivize good driving habits by warning riskier drivers of a potential surcharge on their renewal, as indicated below.

Company

Sign-Up Discount

Max Discount

Metrics tracked

Surcharge for risky driving?

CAA Connect

(UBII device)

5%

15%

-Drive less than 12,000km annually

-Avoid driving between 12am-4am

-Speeding & rapid acceleration

None

Intact

MyDrive

(mobile app)

10%

25%

-Hard braking

-Speeding & rapid acceleration

-Cornering & fast turns

-Distracted driving (cellphone use)

-Avoid driving between 2am-5am

None

Pembridge

My_BRIDGE

(mobile app)

Up to 20%

30%

-Hard braking

-Speeding

-Time of day (low, medium, and high risk)

None

Travelers

IntelliDrive

(mobile app)

10%

30%

-Hard braking

-Speeding & rapid acceleration

-Distracted driving (cellphone use)

-Time of day

10%

 

Are You Ready to Get Started?

After reading this, if you agree that telematics could be a great way for you to save money on insurance, here are a few steps to follow!

1. Contact a BIG Broker

Contact a BIG insurance broker to see if you are eligible for a telematics discount. Certain vehicles may not be eligible for the UBII device (vehicles older than 1998, diesel, and hybrid/electric vehicles).

2. Sign Up

Once you’ve moved forward with your auto insurance policy, it’s time to sign up for the program itself. Your insurance carrier will send you simple instructions. If you will be using a mobile app, you will receive an email inviting you to download it and set it up. If you will be using a UBII device, your carrier will send you the device and provide simple instructions to connect it to your car.

3. Start Driving & Saving

Whenever you drive, your app will collect information and will calculate your discount. You will receive regular updates on your potential discount progress. Remember to avoid hard braking, rapid acceleration, cell phone use, and driving during risky hours.

 

If you’re a safe driver, why shouldn’t you get better perks with your car insurance? If you are ready to get started with the insurance telematics discount, contact us for a quote today! You can use our online quoting option to see if you are eligible, search for a broker in your area, or give us a call at 855-843-1570.