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Originally Posted by Bill in Houston
Insurance is about pooling risk, but also understanding it. When you buy life insurance, they ask a jillion questions to try to determine how risky you are. And that is fine with me, because I am a low risk guy, and the system benefits me. I don't want to have to pay for the risk for the fat smoker dude in the cube next to me.
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Good for you.
Quote:
Originally Posted by Bill in Houston
Just by accepting one of these boxes, you are demonstrating that you aren't trying to hide anything and are comfortable with the company knowing more about you. The fact that you aren't afraid immediately puts you in a lower risk category. Even if they never look at your data, they would be right in giving you a discount.
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And I would be right in going to a different auto insurer who didn't rely on that specious "you're not hiding anything if you submit" argument.
Besides that, risks have to be demonstrable. Just because somebody goes over 75 MPH, does not mean that that somebody is automagically a higher risk than the guy doing 65 MPH. Hell, if I did 65 MPH on certain interstates out west, I'd be at a higher risk for causing accidents, because I'd be travelling well below the speed limit. Would Big Brother Insurance Company be able to determine this? Probably not.
Quote:
Originally Posted by Bill in Houston
Any speed over 75 mph, sudden braking, stuff like that. I doubt they are using any kind of gps/triangulation technique to compare you to speed limits. It would just take too much computational power.
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From 5 years ago, a likely argument against exactly this data tracking: "Driving history, court records, stuff like that. I doubt they are using any kind of vehicle data gathering techniques to figure your risks. It would just take too much computational power."
Sound familiar?