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.

Alongside Week: Midway Through

It’s Thursday night, and we’ve only got two full days left in Buzzards Bay before casting off lines and heading south. We’re doing very well in preparations for departure, with only a couple of major things left on the to-do list. On-load was finished today, with the arrival of 200 gallons of milk. We’re now fully stocked and ready to feed 600 people fully for the next 49 days. Tomorrow is our Coast Guard-monitored fire/emergency and abandon ship drills.