By CRM Staff
Toronto, Ontario – August 2, 2018 – It is a pattern that most auto insurance companies are negotiating cheaper insurance rates if drivers download an app or install a telematic device in their car.
TD mentioned to Global News that, telematic programs have been proven to show a reduction of claims and claim costs in other markets, such as Europe and the U.S.
This trend has been happening for years and is turning into a new way for insurance companies to encourage safer driving.
One of the many insurance companies that offers this discount is TD. Their downloadable app is referred to as, My TD Advantage.
By customers downloading the phone app,TD can easily track their driving. Almost like a game, after every cruise the driver goes on, they receive a score. If their score is high enough they can receive a reduction in their premium of up to 25 percent when they renew their policy.
Another auto insurance company that offers a similar discount is Intact Auto Insurance.
However, the reviews on the app store for some of these driving insurance apps haven’t been overly popular.
Intact received 1.3 out of five stars while the TD My Advantage received a score of 1.6 stars.
Neither TD or Intact have penalty for downloading this app or signing up, even if the driver develops a poor score. In fact, they said that the driver would receive a five percent discount automatically for registering.