10 replies to this topic

[VicHockeyFan]

This is what ICBC should do... as part of a big overhaul.

 

https://www.metromile.com/insurance/

 

 

 

Measuring miles

The key to pay-per-mile insurance is the Metromile Pulse, a small free wireless device that plugs into your car’s OBD-II port. Installation is easy, and once in place the Metromile Pulse securelycounts your miles to determine your total monthly bill. Pay-per-mile insurance doesn’t consider other driving factors such as how fast you drive or how hard you brake, just how many miles you drive.

We take privacy seriously, and will never sell your information to third parties.

 

 

 

[lanforod]

^ is it a straightforward calculation though? the issue is that people who drive 2000 km a year may be less safe drivers than those that drive 15000 per year, simply because they don't get as much experience.

[VicHockeyFan]

No, it's not that straightforward.  But I bet crashes per-mile-driven shows a consistent pattern.  And I know my car very rarely kills anyone while sitting in the driveway.  If we just allowed private insurance people could pick their one they like.

Edited by VicHockeyFan, 27 July 2017 - 03:18 PM.

[nerka]

The idea of pay per mile insurance has been popular with enviros as at least in theory it would provide a monetary incentive to drive less vs today's flat rate insurance. I'd probably support it if I was confident that the security and privacy issues were resolved.

[Rob Randall]

But the money to pay claims has to come from somewhere, right? I'm a low mileage, no accident driver and I know virtually all my premiums go to pay other peoples' claims. If I buy this insurance and receive big savings I can only assume other peoples' premiums will be jacked up.

[VicHockeyFan]

Ya the people that drive and crash more.

[Jackerbie]

When I lived in Quebec I had a similar insurance plan through Desjardins. Hooked up the device to the OBD, and my rate was adjusted based on my driving habits. They did look at sudden acceleration and sudden stops, in addition to VMT. My vehicle insurance rate was about $40/month.

[rjag]

This is what ICBC should do... as part of a big overhaul.

https://www.metromile.com/insurance/

There is zero reason to plug in a monitor to your OBD port apart from to monitor your risk behaviour. Mileage insurance does not require this except to geolocation your driving routines to cross reference where you drive to crash zones but primarily to see what type of driving style you have and to profile you for future premiums.

You may pay less in the beginning but it won't stay that way. Insurance is all about risk behaviour and as long as the data they collect is herd quality then the risk premiums are spread among the herd. The minute they get your personal behaviour (without knowing the circumstances why you had to accelerate or brake hard on those occasions) then data map to the averages, any occurrence outside of the averages will flag for risk premiums.

[Mike K.]

Right, the whole mileage counting chip thing is highly suspicious. Can't they just, you know, take your mileage when you renew your insurance?

[sebberry]

I'd hate this.  I can guarantee you that my drive to and from work is less dangerous than taking the exact same route an hour later.  Will we be going for TOU billing? 

[Jackerbie]

Pay per mile or OBD monitoring isn't for everyone, and definitely should be limited to a choice of insurance options, not a requirement. In my case, I was rarely driving and basically only needed insurance for the bigger grocery runs, the occasional drive to Ottawa, and weekly visits to the States during ski season. A lot of the time the only driving I'd do in a week was to move the car from one side of the street to the other on garbage day.