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Car In Cahoots With Insurance Company

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by Kevin Maney
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Oct 10 2007 12:00am EDT

Car, In Cahoots with Insurance Company

Cool story by AP about the various gadgets car insurers are offering to let parents monitor their teen drivers -- in exchange for a discount.

This is actually part of a big trend -- a trend that makes a lot of sense -- toward insurers offering discounts in exchange for more knowledge about exactly what you do. Insurers really operate on guesswork when setting rates. If technology offers a way to more precisely tailor rates, and give the insured reasons to behave better -- that's pretty powerful.

Hey, I'm interested. I've got a 16-year-old learning to drive. I'm not sure what scares me more -- her driving on her own, or the car insurance rates I'm going to have to pay when she does.

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