If it will work for bikes, why not cars?
SGI has announced it is taking steps to become one of the first insurance companies in the world to use tele-matics technology for motorcycles.
Often called usage-based insurance, some insurers have started using telematics devices in vehicles to record driving information, such as speed, braking, mileage and driving location in order to determine the risk of a claim associated with a vehicle.
"This is a truly innovative approach to addressing the issues that have been raised by motorcycle owners regarding their insurance rates and traffic safety," Minister responsible for SGI Donna Harpauer says. "Usage-based insurance is the ultimate in rating fairness because it essentially lets the driver control their own insurance rate through their driving behaviour. Simply put, those who drive responsibly pay less and those who don't pay more. This pilot is an exciting first step to seeing if this could be an effective approach here in Saskatchewan."
SGI will be looking for several hundred Saskatchewan riders to volunteer to have a telematics device installed on their bike. No rates would be impacted during the pilot, as the purpose is information gathering only.
Even more importantly, it's hoped there will be a positive impact on traffic safety as riders are more aware of their driving behaviour, which hopefully will mean fewer collisions, and associated injuries and fatalities.
Considering it all, maybe the same type of possibility could exist for all vehicles in an effort to lower rates for those who are deserving and higher for those who aren't. As traffic increases with growth the number of bad drivers on the streets is becoming increasingly apparent.
In any case, we'll be interestedly watching to see how this all plays out.
