> It makes sense to share your data with an insurance provider if you are a well-behaved driver.
I would like to see evidence of this.
My experience: discount for sharing is low, maybe $100/year.
My expectation: if I actually get in an accident (1) the data I shared will be used against me; (2) my insurance provider will put me in a high risk pool or drop me.
It seems to me that the downside is really high and the upside is not.
Is that wrong?
P.S. If I actually had faith in all of the companies involved, I would certainly agree with the parent. However, I don't.
I mean, $100 a year is 15% of my bill - I might have to look into the data sharing stuff. I guess if you're already burning money on comprehensive and large deductibles that might not matter as much to you.
Rest of your analysis seems spot on. Important to note however that getting in accidents already increases your premiums - I don't really think the data sharing is gonna change that much.
I would like to see evidence of this.
My experience: discount for sharing is low, maybe $100/year.
My expectation: if I actually get in an accident (1) the data I shared will be used against me; (2) my insurance provider will put me in a high risk pool or drop me.
It seems to me that the downside is really high and the upside is not.
Is that wrong?
P.S. If I actually had faith in all of the companies involved, I would certainly agree with the parent. However, I don't.