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FICO Score for your Driving Skill is Coming

Discussion in 'Society and Culture' started by ethics, Aug 23, 2014.

  1. ethics

    ethics Pomp-Dumpster Staff Member

    And there's not a thing you can do about it.

    This write up doesn't try to be an alarmist at all, but just writing about the facts should give every one a pause as to where this country is going.

    I have a gadget I bought a while back called Automatic what it does is it uses a slot under the steering wheel (many mechanics use this to get summaries) and monitors whatever it was programmed to monitor. In Automatic's case it monitors my car's acceleration, MPH, braking, and MPG. It then tallies up the score for me at the end of the week.

    According to many sources, this is what's coming for all car insurance companies and its clients. Except unlike my purpose of saving gas, Insurance's goal is to get the "safest" drivers out there. It's called Usage-Based Insurance.

    You may say, hell no! I won't succumb to this! Well, when people want to save money and DO submit THEIR data, what you will have are the people who are not volunteering, what happens is that those that do have gadgets will have a new rate, while you will be at the "old rate" which increases annually and can and will become a punitive rate.

    The author goes on the whole privacy angle, but I want to stay with the punitive angle. This opens the door for insurance companies to do more damage to your wallet than you can imagine. The faster people commit to this, the faster we are all *@&.

    As to say how my driving is and why am I worried?

    I've been driving since 1987. I had 1 major accident coming out of a driveway when a Jimmy Truck swung around another car and t-boned me. I consider myself a better than average. However, when I put this gadget on, this is what happens:

    I drive on weekends to pick up my daughter from Brooklyn and bring her back on Sunday night. It's about 35 miles each way, and usually through Manhattan. Brooklyn has the worst drivers in NYC. No matter how careful I am, people will cut you off and you will be forced to brake aggressively, you will also be penalized each time with very big numbers. So unless you are driving 20 miles UNDER the speed limit -- or as an Orthodox in a mini-van -- you will get penalized.

    Let me also cover another SOCIAL aspect of this. With more people with these gadgets on the street, God help you if you are one of the people that accidentally -- or not -- cut someone off that will cause them a penalty on their assessment. Road Rage will be towards another level.

    Lower Your Car Insurance Bill, at the Price of Some Privacy - NYTimes.com
  2. Greg

    Greg Full Member

    I can't see much to disagree on except it's not really a privacy issue, unless you choose to look at it that way.

    You are rewarded if you use the device, you get the regular rip-off rate if you don't. Or maybe you get screwed either way, and just get to pick how you get screwed.
  3. cmhbob

    cmhbob Did...did I do that? Staff Member

    I just skimmed the article, so I may have missed this, but how are they going to keep track of drivers? We have 3 vehicles, and 4 drivers on the policy right now. 5th driver in December. Are they going to give every driver a unit?

    I know USAA is looking into this. Might drop them a line.

    And it'll be a privacy issue as soon as they figure out how to tie in the driving data with the car's onboard GPS.
  4. Greg

    Greg Full Member

    They don't care who the driver is. The insurance is on the car, not on who drives it.
  5. dsl987

    dsl987 Member

    Been thinking about this option as I'm a very non-aggressive driver, but I'm already using the data port for my own device (UltraGauge) and would hate to give it up just to fit the insurance companies device.

    Hmm - I see the Automatic uses your cell phones data plan, so probably not an option for me unless the insurance savings outweighed the increase in data costs
  6. cmhbob

    cmhbob Did...did I do that? Staff Member

    Well, no.

    My rates vary based both on the vehicle, and the driving record of the drivers. If there's going to be some sort of FICO score that's going to follow a driver, they need to figure out how to differentiate between drivers.
  7. Greg

    Greg Full Member

    Actually, they don't. They will just rewrite your policy whatever way they like it, and if you don't accept the terms you'll get the higher rate policy.

    Bob I'm not arguing with you. I'm just telling you how your insurance company will act based upon what we have discussed earlier in the topic.

    The simple fact is that they don't have to do anything, any more than you have to buy insurance from them, but you have to accept their terms if you want to do business with them.

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