Esurance Expands UBI Program into Arkansas
Discounted premiums available based on mileage, driving speed, vehicle braking, time of day, and other variables.
Virtual Water Cooler, September 11, 2012
Esurance has expanded its usage-based insurance (UBI) program and now offers both UBI and traditional auto insurance in Arkansas. Esurance is backed by Allstate, the largest publicly held personal lines insurer in the United States.
Esurance offers an immediate 5-percent discount on the initial six-month policy term with the installation of a telematic device in the onboard diagnostic port (OBD). Future discounts of 30 percent are available based on mileage, driving speed, vehicle braking, time of day, and type of roads one frequents, such as urban, rural and highway. The company offers additional discounts for new customers, those who also buy homeowners coverage, pay in full, and maintain good grades.
“I think UBI inherently segments the customer base. The folks who do opt into the program are more likely to be the safer drivers,” said Jon Inquimboy, Esurance UBI product manager during an interview at Telematics USA. “They can see how their driving affects their premium and also take the time to look at that driving data and think about how they can become a better driver. It really is a customer-centered product in that way, and it also creates an opportunity for value added services: roadside assistance, vehicle service reminders and teen driving. There are many possibilities for our customers.”
Other online features for Esurance customers currently include Coverage Counselor, comparison quotes, mobile apps and 24/7 customer service, the company said in a press release.
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