In April 2016, both Penn National and Safeco introduced new telematics insurance products. Telematics-based policies rely on the merging of telecommunications and informatics data—your cars GPS and navigation, an onboard device and possibly a smart phone app—to track your driving habits. These usage based products provide opportunities for additional savings based on preferred driving habits.
The Safeco program is called RightTrack and the Penn National program is called Penn ID (short for Informed Driver). Both programs require you to accept the terms and conditions and install a monitoring device in the Onboard Diagnostics (OBD-II) port. Safeco will collect data for 90 days. Penn National will collect data indefinitely. Both programs provide a 5% discount for accepting the terms and conditions and installing the device. Both programs require you to set up online accounts to get feedback on your driving habits. The Penn National program also requires you to have an Apple or Android phone that you keep in the car when you drive. You will download the mobile application to your phone and use the Bluetooth pairing option to pair with the device.
After your driving habits are evaluated (90 days Safeco/12 months Penn National), you can earn a discount of up to 30% if your driving habits are optimal.
Data collected includes miles driven, number of trips taken, average speed, maximum speed, times of day driven and hard acceleration or braking. You will get constant feedback on your driving habits with coaching about how to improve your rates. The monitoring and coaching provide an opportunity to improve driving habits, prevent accidents and will also allow parents to monitor and improve the habits of young drivers.
Regardless of your performance, you will continue to receive the 5 % discount for the life of your policy.
At this time, the program is being offered to new policies but both companies allow for enrollment of current policies in the program at policy renewal. Give us a call with questions you may have about these new telematics programs.
Visit the links for more information on each program:
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