Canadians Skeptical About the Benefits of Usage-Based Insurance



Canadians Skeptical About the Benefits of Usage-Based Insurance
Insurance company Allstate polled 1,456 Canadian in August to learn about their views on insurance telematics.

The survey found that Canadians are quite skeptical about how a UBI program could benefit them. Only 41 per cent felt the biggest potential benefit to participating would be that they could end up with a discount on their rate, while about one-in-three (34 per cent) did not see any potential advantage.

The survey also revealed that Canadians do not have a clear idea about how a UBI program could impact their insurance rates. For instance, one-quarter (26 per cent) believe their rates could increase, though the same amount (26 per cent) feel their rates could decrease. Nearly one-third (31 per cent) feel their rates would remain unchanged.

Concerns around Data Collection and Privacy
Nearly half of Canadians (46 per cent) do not feel that auto insurance providers will keep their data private, while two-thirds (65 per cent) are concerned their provider will track their location if they opt into a UBI program.

Thursday, October 1st 2015


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