Quote:
Originally Posted by Zgrinch
Because as more people use it, it opens the door to make it manditory for those who don't want it. I don't think you will be singing the same tune when you go to renew your policy and they tell you that without this device installed, they will not insure your car.
Care to explain to me how having the right not to have my every movement tracked while I'm in my car is an odd definition of privacy?
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How is your movement in a public space on a public roadway private? For that matter, how is your speed on a public roadway private?
And I'm sure insurance companies want nothing more than more government regulation! Mandatory tracking devices brings with it more government regulation of the companies. Which sort of gets in the way of their greedy little fingers.
Granted, an insurance company that requires anything before they grant a policy is, again, committing suicide. Any insurance company will be happy to have your business, so long as you can pay. They are, after all, after money as you so eloquently state. Requiring people to install something is counterproductive.
As for your report from Towers Watson, of course insurance companies want these devices! The entire point of insurance is prediction, and you get better predictions if you have more and more real world data. And with better data, they can adjust their views on all of the public's vehicles. And if a company can get data and realize they can charge less while still turning a profit, then that company has hit a goldmine because they will win out amongst their competitors.
So your claim that they will all make the prices shoot up to screw everyone over is completely baseless. There is no secret meeting amongst car insurance CEOs all planning some rate hike at the exact same time. If a company wanted to raise prices, they'd have to do it themselves, and that would likely shoot themselves in the foot because, as I said before, that'd be corporate suicide.
Nothing in the Towers Watson report states anything to do with mandatory use. It simply states that the companies want the technology for themselves, as they should in a competitive market.