Thursday, June 14, 2012

Not "No" But "Hell No"

...to this invasion of privacy!

Auto Insurance Enters the 'Pay-per-View' Era - WSJ.com

A warning to motorists who take speed limits as suggestions, screech around tight turns or favor extra-long road trips: You might not like where the auto-insurance industry is heading.

Big insurers like Progressive and Allstate are pushing out so-called use-based policies that track mileage, average speed and other measures that can result in substantial discounts for good drivers. Joe White has details on Lunch Break. Photo: AP.

Insurers are accelerating efforts to tap into the systems that enable a car to communicate with satellites and mobile data networks, and use information about how you drive to set your rates. The companies say that basing your premiums on how and how much you drive—a concept known as user-based insurance or "pay-as-you-drive" insurance—will allow them to accurately target discounts at careful drivers, and charge more spirited customers an appropriately higher amount...

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