Did you know that usage-based insurance is now offered in Canada?
It's true! It has been in the news lately that some insurance companies offer a discount on your car insurance if you volunteer to install a piece of technology in your vehicle. It is being referred to as Usage Based Insurance.
This technology monitors the behaviour of drivers of your vehicle. Behaviours such as the speed you drive, how quickly you accelerate, how hard you brake as well as the times of day that your vehicle is driven are logged into the device and uploaded to the insurance company.
Depending on the results, you could be eligible for a discount of up to 25%. Not all insurance companies offer this. If you are interested, check with your insurance professional to see if your insurance company offers it.
Read more about usage-based insurance here.