Quote:
Originally Posted by The359
The average rate for all consumers can go up or it can go down, the entire point is that more data means more accurate predictions. If it goes up, it is because of an adjustment based on data, not because the company is simply being greedy.
Further, you already have your rates set by the risk involved in your vehicle and driving history. If you are more prone to risky behaviours, why shouldn't you have to pay more for the greater risk? Insurance companies already do this even without these tracking devices. These devices will simply allow for a better indication of *current* driving habits instead of based solely on your past driving history.
Certainly many of those who do not want these trackers believe that they are saving money by driving risky without having to pay for their added risk. I'm not advocating clamping down on these people, but I don't think the justification of "it's my privacy" is correct when many of those are simply concerned with saving some money.
Now, granted, the fact that some have a belief that it will raise their rates does not negate the fact that insurance companies currently do not raise the rates based on the data from the tracker. You have a set base rate and data from the tracking may lower your rate, or not change it at all, but it wont go above your base rate. If your rate could go up then it'd be a different ballgame, but that currently does not exist.
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Ok I get what you are saying, but my personal opinion is what you said in the last sentence.
I think it will ultimately will lead to higher rates, once it is the "norm" for most people and most carriers...
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