Tag: auto insurance

GPS-Based Insurance Pricing: Why It's Misguided and Why Speed (By Itself) Isn't Relevant

Insurance GPS

Marketplace Tech reported today that a UK insurance company called Motaquote is rolling out the ability to record your driving habits using a TomTom GPS unit, and use that data to set your car insurance rate. The idea is that the policy and pricing can be tailored to better reflect your specific driving, rather than base it off of actuarial tables. If you’re a “safe” driver you could be spending less, and if you’re an “unsafe” driver you could be spending more.