2 ms·

What’s a bad driver? This stuff isn’t exactly peer reviewed data, and insurance companies don’t publish the telematics data they produce or how they make decis

What’s a bad driver? This stuff isn’t exactly peer reviewed data, and insurance companies don’t publish the telematics data they produce or how they make decisions. They are funny with how they evaluate certain things. If you have 3 accidents in a certain period, they’ll drop you regardless of fault because you’re unlucky. But they’ll also penalize you if brake heavily and avoid accidents.

hansvm 3y ago
The only winning move is not to play ;) I'm half serious. All else equal, if you drive less you'll have fewer problems that lead to insurance penalties.
- Spooky23 3y ago
  Honestly, don’t be a dope is the optimal move. I’ve driven for 25+ years, and barring some stupid teenage male stuff and a few deer, have done so without incident.
  - hansvm 3y ago
    So, a bit worse than the average driver? Surely there's some better evidence you can throw at us ;) I'm kind of on your side. Not being a dope decreases the crash rate by 90% or so per mile last I checked ("crashes caused by driver error"). Drive enough and you'll still become a statistic though.
r_klancer 3y ago
Well, statistics matter here and one thing insurance companies know about is statistics. If you brake hard once or twice, no biggie. But, for sure, my prior is that someone who frequently brakes hard on the road is someone who gets themselves into jams they shouldn't have been in in the first place. Maybe it's a matter of failing to anticipate what's coming up ahead. Maybe it's a matter of where, when, and how often they drive. Both indicate risk that, arguably, should be priced appropriately. Same for health behaviors. Dropping you is a thing that happens when the expected value of your insurance payouts exceed the expected value of the premiums collected. With granular data from telematics, an insurer [*] could notify you to change your game long before they end up concluding, "Well, none of the data we have on this person differentiates them from the last 3 guys to cost us a million plus in settlements and claims, so sayonara" [*] thinking of TFA here I mean a suitably regulated insurer, not one that is somehow sneakily accessing telematics data without any transparency
- Spooky23 3y ago
  Insurance companies know stats. But I don’t think regulators effectively regulate use of these new statistics, which is essential to an business like car insurance.

hansvm 3y ago

The only winning move is not to play ;) I'm half serious. All else equal, if you drive less you'll have fewer problems that lead to insurance penalties.

Spooky23 3y ago
Honestly, don’t be a dope is the optimal move. I’ve driven for 25+ years, and barring some stupid teenage male stuff and a few deer, have done so without incident.
- hansvm 3y ago
  So, a bit worse than the average driver? Surely there's some better evidence you can throw at us ;) I'm kind of on your side. Not being a dope decreases the crash rate by 90% or so per mile last I checked ("crashes caused by driver error"). Drive enough and you'll still become a statistic though.

r_klancer 3y ago

Well, statistics matter here and one thing insurance companies know about is statistics. If you brake hard once or twice, no biggie. But, for sure, my prior is that someone who frequently brakes hard on the road is someone who gets themselves into jams they shouldn't have been in in the first place. Maybe it's a matter of failing to anticipate what's coming up ahead. Maybe it's a matter of where, when, and how often they drive. Both indicate risk that, arguably, should be priced appropriately. Same for health behaviors. Dropping you is a thing that happens when the expected value of your insurance payouts exceed the expected value of the premiums collected. With granular data from telematics, an insurer [*] could notify you to change your game long before they end up concluding, "Well, none of the data we have on this person differentiates them from the last 3 guys to cost us a million plus in settlements and claims, so sayonara" [*] thinking of TFA here I mean a suitably regulated insurer, not one that is somehow sneakily accessing telematics data without any transparency

Spooky23 3y ago
Insurance companies know stats. But I don’t think regulators effectively regulate use of these new statistics, which is essential to an business like car insurance.