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What is Telematics?

In Pennsylvania and New Jersey you are required to have auto insurance before you get behind the wheel of your car. Every insurance carrier has a set of factors that are used to determine the price you pay for car insurance.

What if you could get a lower cost insurance based on how safely you drive?

Telematics

Telematics in simple terms is a method of monitoring a vehicles movement with GPS technology via devices, or easy to install applications, on your iPhone or Android, to help improve driving habits and reduce accidents. This new technology provides us another opportunity to help you save money on your auto insurance premiums, and help raise awareness of your driving behaviors.

Here are the main factors used to evaluate your driving:

Time of day: When you drive can be as important as how you drive.
Speed: Keep your speed in check so you have more time to react.
Acceleration: Smooth acceleration is good for your score.
Braking: Drivers who anticipate situations have fewer hard brakes.

Four reasons you may want to consider Telematics:

1. Savings - With our current economic conditions, every family likes to be able to save money. Many carriers offer a discount for enrolling and signing up. Often this discount is applied on you policy as long as your remain a customer. This can add up over time, potentially generating considerable savings, depending on your insurance carrier.

2. Good Habits – With a telematics-based program your driving habits, good or bad, are monitored, and will help you and the family raise awareness of driving behaviors. If you are a parent of a new teenage driver, a program like this may have added appeal to help coach your teenage driver. In general, you can use telematics to have more control over and potentially reduce your auto insurance expenses.

3. Ease of use – The adoption of mobile phones has helped grow the evolution of telematics-based programs. All you have to do is download an app on your personal cell phone. Each insurance company will have its own manner of enrolling you. We see these programs are simple to join and do not usually require you to do much more than sign up.

4. Safer Drivers – The collective impact. When more drivers develop better driving habits, this increases the larger community of safe drivers and increasing the safety of our roads, and reduces the potential for auto accidents.

Here is a partial list of carriers that offer telematics: